Outsourced controllers also bring a tried and tested approach to helping manage your business’s finances. That know-how gives them the ability to build your business a financial infrastructure that’s resilient to all kinds of challenges. Because an outsourced bookkeeper isn’t immersed in your business the same way an internal employee would be, there may be some intricacies of your business that they don’t understand at first. It’s important to find an outsourced bookkeeping partner that will invest the time required to truly get to know your business.

Accounts Receivable Services

Explore our comprehensive range of other accounting and bookkeeping services to expand your business’s financial capabilities. Click on the links below to navigate to specific business services and discover how our expert team can optimize your accounting and bookkeeping processes for maximum efficiency and profitability. We have profound experience in maintaining accounts receivable processes for a number of global clients.

Our Comprehensive Invoice Processing Services

By outsourcing invoicing, you can free yourself and other staff members to tackle vital tasks that enrich the customer experience. Look for a third-party company with advanced encryption that protects your clients’ invoices and payment information. By protecting this valuable data, you’ll also be protecting outsource invoicing your own reputation and your ability to retain customers. It also means they make far fewer mistakes than someone from your accounting department who recently trained in handling accounts receivable issues. By using an automated monetization program, invoices can be generated with confidence.

Accounts Payable Software

Let’s take a look at some common outsourced accounting myths and explore how outsourced accounting service providers like our team at LBMC are addressing them to build a better client experience. This is not a complete list of benefits that businesses can expect when partnering with an outsourced accounting firm. Your company can gain game-changing financial insights and unlock benefits including increased cash flow and higher profit margins. If that sounds like something you’d be interested in, read on to learn all about outsourced accounting. The best choice in outsourcing would be to use a solution and service like Resolve. Resolve acts like your “AR team on tap” and automates your net terms management and AR collections process.

What is Outsourced Accounting and How Could It Help You?

• Choose wisely, and your Accounts Receivable operations can become a necessary financial function and a strategic asset to your company.
• These tools can be helpful for automatically importing transactions from your bank accounts and payment processors like Stripe.
• Never delay your payments, gain customer trust, and manage your working capital better with our accounts payable services.
• If you’re working with a dedicated invoicing professional on staff, you don’t have a lot of flexibility when it comes time to scale your operations.
• Maintaining accurate, timely financial information is vital in enabling you to make better decisions for your business.

With global e-commerce sales totaling a whopping $4.9 trillion USD in 2021, it’s clear that online businesses have huge growth potential. Always remember that outsourcing is a business model that can pose a solution for certain issues. Healthcare agencies are not all the same, so you want a company that works with others in your field. For example, as a home care or hospice agency, you may have additional codes and regulations that impact payments, particularly when you’re working with Medicare and Medicaid.

Experts in accounts receivable management can digitize and automate your entire invoicing and billing process. They can make it easier for your customers to send edit requests, make digital B2B payments with multiple options, and also reconcile invoices with their accounts payable. 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? 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.

Patient Statements & Helping Medical Professionals

The rules-driven nature of accounts payable processes make these procedures appropriate for third-party management. The assigned outsourced personnel are focused solely on a company’s accounts payable systems. However, one main issue is whether companies can entrust their most essential financial processes and highly confidential data to a third-party firm.

• They have a wide range of responsibilities, from managing bookkeeping staff to working on more strategic initiatives.
• Below are our top tips for three areas to consider when choosing the best AP outsourcing provider.
• Using outsourcing firms for automated AP tasks may increase the profitability of your business and lower costs.
• Benefit from more than 100 years of collective experience on invoicing (we are the ins-and-outs of it).
• Worse, it can lead to bad debt accumulation and a shortage of working capital.
• It’s worth mentioning that outsourced accounting firms are incredibly dedicated to helping clients and well-equipped to handle any workload.
• To avoid not just fraud or embezzlement, but also financial mistakes, you should rely on key individuals in your business for treasury access rather than outsourced accountants.

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 service is built on advanced technologies, experienced personnel, and industry best practices to provide best-in-class services. Alongside, we leverage robust cybersecurity measures to ensure data protection and privacy.