| Outsourcing is redefining the modern organization in ways few people envisioned just a decade ago. It is unlocking new ways of doing business both nationally and globally. Outsourcing demands new ways of thinking on the part of management. Successful Executives have moved away from the notion that outsourcing implies that a particular function is unimportant or expendable. In fact outsourcing works best when it is seen not as the abdication of responsibility but as the leveraging of talent and resources. It is the organization's ability to harness the special skills and capabilities of the outsider that produces the greatest value. However, the biggest risk of outsourcing is to find reliable and excellent partner. Therefore, the goal is not to get the best deal, but, rather, to get the best business partner. Amadeos web-based Business Process Outsourcing (BPO) accounting helps any size companies reduce costs, streamline business processes and increase efficiency and profitability. Amadeos concretely achieves this by combining one of the top web based accounting solutions can achieve this through with its DFK accounting Partner network located in over in over 82 countries! Therefore, if a business has an office in New York, they can have data entered in Alabama or India - it is up the client by professional accountants. As data is entered clients can view the information 24hours 7 days a week on a live basis. The Amadeos BPO solution makes offices located anywhere work seamlessly together. Even better al information is just a mouse click away and all without expensive investment in any hardware or software investments!Do you need to gain better control over Billing & A/R?
Do you need to introduce Billing & A/R best practices to our company?
Do you need help with sending collection letter and collecting AR?
Do you want to eliminate the headache of managing clerical staff?
Outsourcing accounts receivable has become an important tool in today's business arsinal.
The traditional, vertically integrated, self-sufficient business model can be greatly improved.
A new set of words defines business success—speed, expertise, flexibility and innovation.
Amadeos offers a unique end-to-end solution designed to transform the operation of your Accounts Receivable process.
From the point invoice data is available, through the posting of cash received,
the Amadeos solution lets you concentrate on your core business,
Secure in the knowledge that the Accounts Receivable process is professionally, accurately and securely performed.
It is at this point where outsourcing accounts receivable portfolios works to the advantage of any company that sells on credit.
Bottom Line— Increased recoveries, not cost savings, is often the number one reason companies turn to outsourcing. In accounts receivable, this is fairly easy to measure by looking at Days Sales Outstanding (DSO) and the reduction in bad debt. The quicker and more efficiently the accounts receivable portfolio is collected, the better the company's bottom line.
Technology— In many fields, and particularly in accounts receivable, access to the most current technology determines success. Outsourcing allows a company to take advantage of this, without the substantial and often prohibitive investment required.
Consistency— Outsourcing receivables allows for consistency on two fronts. First, there is a dedicated staff to ensure that invoices are followed up on in a timely and professional manner. Second, a volume increase or decrease will not affect performance.
Core Business Focus— This can well be considered the underlying benefit to all outsourcing relationships. Outsourcing allows a company to concentrate on its business—its products or services—and the reason its customers are there. The data management, customer follow-up and technology required to manage receivables can consume vast resources. The outsourcing firm can usually manage these functions more efficiently. This efficiency leads to tangible results. Prompt and efficient follow-ups significantly reduce the number of accounts that become delinquent, thereby maintaining a company's core client base, which in turn leads to increased sales.
We achieve our world-class accounts receivable outsourcing by utilizing a simple straightforward approach.
1st - Most important is we listened learn what each client requires. We understand each business and industry is vastly different.
2nd – We work with client to create a list of “Product and budget codes” (i.e. revenue classes) and lists of center/department/job categories
3rd - We work with the client to discover the most practical evidence to support a sales has occurred and for us to make the invoice. This evidence or document is determined on a case-by-case basis.
4th – Data entry data can be entered via the Internet by:
1. Client staff
2. Our staff on site or at our facility.
3. Uploaded via cvs or excel file
If data is to be entered by our staff data can be delivered as follows:
1. Physically sent to the local office
2. Electronically scan each document and sent to via fax or email
5th – Production and delivery of invoices to customer either by
1. Printing and mailing directly to clients
2. Creating PDF and sending by email
3. Other upon client request
6th – Prepare ledger of revenue categories or post to the GL and send summary or detail journal entries.
7th – Prepare daily, weekly, monthly accounts receivable aging based upon clients requirements
8th – Dunning/reminder letters sent to customers. Letters are based in client defined letter templates letter.
9th – Start formal collections process up though legal actionDo you want to improve Accounts Payable processing without capital investment?
Do you want to gain better management control over the Accounts Payable process?
Do you want to gain better management control over the Accounts Payable process?
Do you want to introduce Accounts Payable best practices to your company?
Do you want to eliminate the headache of managing clerical staff?
The Amadeos approach to outsourcing payables is unique in that our model is designed to fit your individual business. We fit our model to your needs!
You gain the ongoing benefits of our cutting edge technology and skilled staff without capital expenditures.
There is no expensive software to buy, install, or maintain.
With Amadeos you achieve all of the economy with none of the hassle, risk or hidden cost of moving operations offshore.
You immediately enjoy the benefits and security of a U.S. based staff of certified professionals.
All of this and increased control. Our process is completely transparent giving our Clients 24/7
Secure web access to view all service level commitments!
Let our experts help you save time and money. Then you can focus on what you do best!
Note: At the start of any client engagement, we define detailed business rules around invoice matching and approval and work flows
We typically achieve our world-class accounts payable outsourcing by utilizing a simple straightforward approach.
1st – We work with client to create a list of “budget codes” (i.e. expense classes) and lists of center/department/job categories
2nd - The client approves each accounts payable, by signing the document and placing the above mentioned, “budget code”/Center on each physical payable.
3rd – Data entry data can be entered via the Internet by:
1. Client staff
2) Our staff on site or at our facility.
If data is to be entered by our staff data can be delivered as follows:
1. Physically send us each payable documents
2. Electronically scan each document and send to us electronically
4th – Based on client requirements we or client can scan all related documents and attaché the scanned documents to the invoice allowing for a “drill” down to original document ability.
5th – We can either prepare ledger of expense categories or post to the GL and send summary or detail journal entries.
6th - we can prepare daily, weekly or monthly accounts payable aging
7th - we prepare list of suggested payment to be made on a periodic basis - (1xweekly, 2 weeks etc)
- then upon receiving approved list from the client we can prepare a payment order and assist with paying the bills using a clients home banking system.Do want strict systems of paying bills?
Do you want to save time n matching paid invoices?
Do you want to have your internet/home banking easily integrated into the system?
Do you want to eliminate the headache of managing clerical staff?
Outsource bank matching!
Outsource bank preparing of payments orders/check runs
One, the other or both - outsourcing bank activity saves you time and improves efficiency
We achieve our world-class Bank outsourcing by utilizing a simple straightforward approach.
For outsourcing bank statement matching:
1st - As with all for our outsourcing most importantly is we listen and learn what each client requires.
2nd - We work with the client bank to create method to import bank statements and export payment order. Amadeos is highly open so we can easily setup imports and export.
3rd - Each bank statement we import the data to Amadeos - this can be done on a daily, weekly, monthly basis
4th - We code the bank transaction into the below categories witch typically account for 85% of transactions.
1. Paid Invoice (from supplier of invoice and match)
2. Advance/loan to or from someone
3. In-transit between accounts
5th - For the 15% of unclear transaction we work with client to create a list of "Codes" to identify the nature of less common bank transactions
6th - For items that are the 15% non standard we send an email listing requesting assistance for categories.
7th - Scan - or uploads the physical statements into the Web Archive so detail can always be easily viewed.
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