Author: Michelle Barkley
Every individual running a business wants to be free of the burden of paying money which they owe to anyone as soon as possible. Accounts payable literally means the money which a business owes to sellers for products and services which have been bought from them on credit. If not paid in time accounts payable can pile up and spell trouble for any business. If you are finding it difficult to keep a track of the amount of your accounts payable, then get accounts payable outsourcing service from an outsourcing company. This is the perfect way to deal with this condition.
When you are running a business, keeping track and managing of things like accounts payable, can become very demanding and hectic. Nonetheless this is an important aspect of any business process and has to done and done in time. Accounts payable outsourcing services are offered by many companies which deal with finance and accounting outsourcing.
The best way for searching a firm providing accounts payable outsourcing services is through the internet. The internet is a storehouse of information, and all you will have to do go online and search for information. The numerous options which you will find in the internet can confuse you. Take some time out from your busy schedule and do a proper research about the companies offer accounts payable outsourcing to clients. I am sure you want the best services for your business. Get an in depth analysis of the services offered by the firm before you actually decide to take up services from the company.
Make sure to check the security arrangements the company has in place for its clients. See for yourself and find out if the security measures are adequate to protect customers personal identify and financial data. Online security in this internet age is vital and you must never compromise on this aspect. Make checks and cross checks about the security arrangements of the firm providing accounts payable outsourcing, before you actually outsource your work to the outsourcing company.
Accounts payable outsourcing has many advantages. One of the main advantages is that you can save huge amounts of revenue through the outsourcing work. Work is outsourced mostly to developing countries where there is abundance of manpower and labor is cheap. This automatically means that your accounts payable outsourcing work will be handled by trained professionals at a very cheap rate. The revenue which you will save in this manner is the profit for your business.
There are some outsourcing companies which offer free trails for prospective clients. You can check out such companies and get some of your work done under the free trail offer. See for yourself the type of work done, the amount of money charged and then decide if the company is capable of handling your accounts payable outsourcing work or not. If you are not satisfied with one company, there are plenty of others for you to choose from.
Accounts payable must always be handled properly and every account must be in place for you to make payments timely. Piling up accounts payable will only put you under a huge amount of strain. Accounts payable outsourcing is a simple way for you to keep all your accounts in good shape. Go ahead, rest easy and earn revenue for your business by accounts payable outsourcing.
About the Author:
Michelle Barkley is a CPA working for IFRworld. She specializes in accounting outsourcing, bookkeeping outsourcing tax returns preparation outsourcing and, Accounts Payable Outsourcing. to know more and to use the services visit www.ifrworld.com
Article Source: Articledashboard
Showing posts with label Account Payable Services. Show all posts
Showing posts with label Account Payable Services. Show all posts
Why to Outsource Accounts Payable Services?
Author: Outsource India
In a nutshell Accounts Payable Service is a very broad term to attempt to define. The most famous character in the plot though is an invoice. Any invoice generated and delivered for a product sold or a service provided becomes a part of the buyers or the customers accounts, which is payable.
The services’ related to the management of these accounts is termed as Accounts Payable Services. Accounts payable is a from of credit that a buyer enjoys as he only has to pay once he has received the product or utilized the services provided by the seller. A seller usually has payment terms mentioned in the invoice, which could vary from zero to 30 days or more as per the negotiations between the buyer and the seller.
An Example
Let us consider a spare parts manufacturing firm Tech-Spares Ltd., supplying spares to an automobile manufacturer BestCar Ltd. Let us assume, 30 days is the terms of payment negotiated between Tech-Spares and BestCar. 30 days from the date of invoice is the period BestCar enjoys credit for the amount in that invoice for which it has already received the goods.
Let us consider another example of a Mobile Phone Service company OneConnect. OneConnect provides mobile connectivity services to its customers for which it bills it customer on a monthly basis. The invoice generated by OneConnect to its customers will have a statement date (date the statement was generated) and a due date (date the amount on the invoice is due).
The day the customer receives the invoice, it becomes his accounts payable and from that day till the due date is the number of days the customer enjoys credit for services he has already used.
Advantages of outsourcing to India
There are various advantages India provides as an outsourcing destination:
English is one of the well-spoken languages amongst the educated Indians.
The cost of hiring an Indian accounts payable representative maybe anywhere between 7 to 15 dollars a day. The same representative in a developed market might cost the organization more than 5 times the amount considering remarkably higher minimum wages and even higher administrative costs.
Setting up businesses in India have become easier post 1991 reforms, which saw India opening up its market to foreign trade and investments and since then India has become a economic powerhouse that the world keeps and eye on.
Moving accounts payable operations to India gets the off shoring company familiar with the Indian territory and business practices and may be the first step to moving other key areas of their businesses to India.
Companies can explore other business opportunities, as India grows at a break-neck speed year on year and proves to be one of the largest markets in the world with a very high appetite for consumption.
About the Author:
Outsource2india provides Outsourcing Services and Solutions, Accounts Payable Services, Financial Services, Insurance Services, Bookkeeping Services, Business and Knowledge Process Outsourcing, Data Management services, Call Center Services, Healthcare Services, Engineering Services, Software Services, Digital Image Editing Services, Research & Analysis Services, Creative Services, Web Analytics Services, etc.
Article Source: Articlesbase
In a nutshell Accounts Payable Service is a very broad term to attempt to define. The most famous character in the plot though is an invoice. Any invoice generated and delivered for a product sold or a service provided becomes a part of the buyers or the customers accounts, which is payable.
The services’ related to the management of these accounts is termed as Accounts Payable Services. Accounts payable is a from of credit that a buyer enjoys as he only has to pay once he has received the product or utilized the services provided by the seller. A seller usually has payment terms mentioned in the invoice, which could vary from zero to 30 days or more as per the negotiations between the buyer and the seller.
An Example
Let us consider a spare parts manufacturing firm Tech-Spares Ltd., supplying spares to an automobile manufacturer BestCar Ltd. Let us assume, 30 days is the terms of payment negotiated between Tech-Spares and BestCar. 30 days from the date of invoice is the period BestCar enjoys credit for the amount in that invoice for which it has already received the goods.
Let us consider another example of a Mobile Phone Service company OneConnect. OneConnect provides mobile connectivity services to its customers for which it bills it customer on a monthly basis. The invoice generated by OneConnect to its customers will have a statement date (date the statement was generated) and a due date (date the amount on the invoice is due).
The day the customer receives the invoice, it becomes his accounts payable and from that day till the due date is the number of days the customer enjoys credit for services he has already used.
Advantages of outsourcing to India
There are various advantages India provides as an outsourcing destination:
English is one of the well-spoken languages amongst the educated Indians.
The cost of hiring an Indian accounts payable representative maybe anywhere between 7 to 15 dollars a day. The same representative in a developed market might cost the organization more than 5 times the amount considering remarkably higher minimum wages and even higher administrative costs.
Setting up businesses in India have become easier post 1991 reforms, which saw India opening up its market to foreign trade and investments and since then India has become a economic powerhouse that the world keeps and eye on.
Moving accounts payable operations to India gets the off shoring company familiar with the Indian territory and business practices and may be the first step to moving other key areas of their businesses to India.
Companies can explore other business opportunities, as India grows at a break-neck speed year on year and proves to be one of the largest markets in the world with a very high appetite for consumption.
About the Author:
Outsource2india provides Outsourcing Services and Solutions, Accounts Payable Services, Financial Services, Insurance Services, Bookkeeping Services, Business and Knowledge Process Outsourcing, Data Management services, Call Center Services, Healthcare Services, Engineering Services, Software Services, Digital Image Editing Services, Research & Analysis Services, Creative Services, Web Analytics Services, etc.
Article Source: Articlesbase
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