ADMINISTRATIVE BACK OFFICE SOLUTION
Digital technology has brought about transformative changes and new growth avenues. While consumers are becoming particular about their consumption preferences, new technology platforms and dynamic business models have enabled individuals all over the world to collaborate with each other to create content. This places increasing pressure on costs and margins in a globalized market and uncertain economic environment.While standardization and centralization of business processes through global shared services and centers of excellence reduce their operational costs, these elements also help enhance efficiency.
Back office is a very important part of your organization. Failure to handle them effectively can have a detrimental effect on the core business. Despite technology’s best efforts, some tasks will require manual intervention. Our Back Office Administration services reach the places that even technology can’t, ensuring that you are as effective as possible during these interventions is vital.
Our Back office services include a variety of tasks including (but not limited to);
ACCOUNT PAYABLE PROCESSING:
Regardless of the company’s size, the mission of our accounts payable team is to pay only the company’s bills and invoices that are legitimate and accurate. To safeguard a company’s cash and other assets, the accounts payable team has internal controls. A few reasons for internal controls are to:
- prevent paying a fraudulent invoice
- prevent paying an inaccurate invoice
- prevent paying a vendor invoice twice
- be certain that all vendor invoices are accounted for
Contact us to know more on our expert SOP to see to it that your accounts payable process is run in the moth smooth and swift manner.
Overhauling your in-house payment processing and keeping it up-to-date can be a costly, time-consuming process. And there are still vendors who insist on check payments, so you’ll be processing multiple payment forms. The solution?Outsource your payment execution to us. The outsourcing of your payment processing could help you in the following ways:
- Cost Reduction: If you outsource your payments, then the employees you would otherwise be paying to print and mail checks can focus on other tasks. That saves you time and saves you money. With us we can guarantee you a very effective and reduced cost for your entire back office solution.
- Improve Vendor Relations: Streamlining your payment system means faster and more accurate payment processing. Since everyone’s happier when they get paid on time and without any hassle, that improves relationships with vendors
- Reduce payment fraud and Risks: Check fraud is one of the dominant forms of payment fraud. Maintaining a database of vendor bank routing and account numbers is also a massive responsibility. We at AMS can handle this at a minimum cost bearing level for you.
- Migrate from Paper to Electronic : With AMS, we are an expert to convert all your paper invoices to digital by scanning and uploading them to your secured server. This means you would have access to any data and there would be no hassles to serch for them in case you require any specific invoice at any point of time.
Cash flow management or cash flow forecasting is a tedious and cumbersome process that requires great dedication and precision of information. Cash flow management / credit management is critical to not only to small businesses but to enterprises of all sizes.
We can run your weekly, fortnightly or monthly cash flow and provide you with the detailed report for the same. It will include all your sales, deposits and expenses. Our cash flow planning will give you estimated future cash inflows in detail. Through monthly statements you will be able to efficiently plan for future investments, fund raising and budgeting.
Your sourcing was flawless, but the deal did not deliver the value predicted. It’s the supplier’s fault – right? Maybe not. Research shows that twenty-five percent or more of the total contract value “leaks away” or is lost as a result of ineffective management of the supplier relationship after the deal is inked. This risk is amplified when the procurement is for complex outsourced services.
Here are some benefits of outsourcing your supplier management to us:
- Less waste – A firm with expertise in supplier management can analyze your current supplier relationships and determine which ones are worth keeping and which are not. This means your company can save money by ensuring the best pricing.
- Less complications – When you eliminate the supplier relationships that are not critical for your company’s needs, it means having a less cumbersome supplier management program.
- Compliance – When dealing with vendors, it’s important to maintain compliance with their policies. We understand these policies and can make sure that your company isn’t vulnerable to hefty fines and penalty fees that result from poor license management.
Whether you are an enterprise-level CFO or a small business owner, you live by one hard and fast rule: Maintaining positive cash flow requires lessening the volume of past due accounts.
We drive efficiencies by using the latest technologies, along with applying compliance-savvy proven best practices. We will act as an arm of your business. We understand the B2B psychology that allows us to play good cop – by maintaining a customer service relationship with a past due client – and bad cop, by taking the heat that comes from pressuring a client to respond to a past due balance.