Invoice Processing Outsourcing Services
Is entering invoice data or validating and approving invoice workflows challenging for your business? Do you face complexities in handling varying invoice formats from different suppliers or customers? If so, you need a competent partner to process your invoices. Our invoice processing services are designed to streamline the invoicing lifecycle - from receiving to approving invoices. The process includes invoice data entry, validation, reconciliation, and integration of invoices into your system.
Years of Experience
Industry Verticals
Experienced Professionals
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Outsource Invoice Processing Services to the Expert
We have experience in offering outsourced invoice processing services to global clients since 2000. Over the years, we have handled a range of invoice processing activities, such as data capture, validation, approval, matching, reconciliation, compliance, and auditing. We have processed diverse invoice document types, including PDFs, paper invoices, and electronic invoices, in standard formats like EDI (Electronic Data Interchange) and XML.
We bank on several key steps to process your invoices. First, our team receives invoices from customers through various channels. Next, they verify the accuracy and completeness of the invoice details. This is followed by categorization and coding of the invoices for proper accounting. Finally, the invoices are routed for approval. Once approved, our team members enter the data into the accounting system.
Our service is built on advanced technologies, experienced personnel, and industry best practices to provide best-in-class services. Few technologies we bank on include, Optical Character Recognition (OCR) tools, for efficient data extraction, Enterprise Resource Planning (ERP) systems to synchronize data across departments, Customer Relationship Management (CRM) software for effective client management. Alongside, we leverage robust cybersecurity measures to ensure data protection and privacy.
Our expert team banks on various quality control mechanisms to maintain the quality of our services. This primary includes multi-stage checking of invoice details, including accuracy in amounts, tax calculations, and adherence to internal policies. This ensures that only valid and compliant invoices are processed for payment. Our clients trust us because we have been consistent in achieving a 98% success rate in processing invoices accurately.
Our Comprehensive Invoice Processing Services
- Invoice Generation
- Data Entry And Validation
- Invoice Categorization
- Approval Workflow Management
- Payment Processing
- Credit Memo Processing
- Automated Optical Character Recognition (OCR)
- Exception Handling
- Reporting And Analytics
- Compliance Management
- Integration With ERP Systems
- Customer Query Resolution
- Archiving And Document Management
- Invoice Verification
- Invoice Scanning And Imaging
- Duplicate Invoice Checking
- Mobile Invoice Processing
- Invoice Coding
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Finance and Accounting Tools We Specialize In
Invensis Advantage for Invoice Processing Outsourcing
Invensis - The Most Trusted Invoice Processing Company
We have more than two decades of experience in offering comprehensive invoice processing services globally. We have been offering these services to businesses such as manufacturing, logistics and supply chain, retail and eCommerce, financial institutions, etc. Our end-to-end support has assisted our clients with various support solutions, such as streamlining invoice processes, precise billing and record-keeping, and more. Our highly experienced professionals, customer-centric approach, and industry best practices have helped us gain the trust of our clients.
- Accuracy and Compliance: Professional invoice management outsourcing providers ensure accuracy in invoice processing, reducing errors and enhancing compliance with tax regulations and industry standards. This minimizes the risk of financial discrepancies and penalties.
- Focus on Core Competencies: By invoice processing, businesses can focus on their competencies and strategic activities, fostering growth and innovation without being burdened by routine administrative tasks.
- Time Efficiency: Outsource your invoice services to accelerate invoice processing for quicker payments and improved cash flow. This timely processing contributes to better financial management and planning.
- Scalability: Outsourcing services offer scalability to accommodate fluctuations in workload. Businesses can easily scale their requirements based on their requirements, ensuring optimal resource utilization.
- Enhanced Data Security: Reputable outsourcing providers employ advanced security measures to protect sensitive financial data. This guarantees confidentiality and compliance with data protection regulations, mitigating the risk of data breaches.
- Automation and AI Integration: The adoption of automation and artificial intelligence (AI) in invoice processing has increased. AI technologies, including ML and RPA, are being employed to automate routine tasks, reduce errors, and enhance efficiency.
- Cloud-Based Solutions: The shift towards cloud-based invoice processing solutions has gained momentum. Cloud platforms offer scalability, accessibility, and collaboration features, allowing businesses to streamline their invoicing processes.
- Blockchain for Security: Blockchain technology is enhancing the security and transparency of invoice processing. Its decentralized and tamper-resistant nature can help overcome fraud and confirm the integrity of financial transactions.
- Data Analytics for Insights: Businesses leverage data analytics to gain insights from invoice data. Analyzing this information can provide valuable business intelligence, helping organizations optimize their financial processes, identify cost-saving opportunities, and enhance decision-making.
- Mobile Invoicing: Mobile invoicing solutions are becoming more prevalent, allowing businesses and customers to manage invoices on the go. Mobile apps and responsive interfaces provide convenience and accessibility.
What Our Customers Say
Invensis has been an outstanding business partner for over four years. Our Accounts Payable workflow has generated daily volumes of invoices to be processed, and Outsourced Bookkeeping handles the volume precisely. As a result, it's fantastic to arrive at work every day without any backlog.
Invensis has helped us obtain business-critical data on our Accounts Receivable processes. This helped us make good cash flow decisions, motivate our teams, and maintain our focus on profit maximization.
Invensis' auditing and taxation services assisted us in effecting significant changes in the business's focus and nature. They have always provided us with a comprehensive and top-rated service, allowing us to meet deadlines internally and externally.
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