Payment Processing Services

Table of Contents

Accounts Payable (AP) or payment processing services involve managing the outgoing financial transactions of a business, usually those related to paying its suppliers and vendors. These services streamline the payment process, enhance accuracy, help to stay up-to-date with the company's cash flows and play a role in maintaining positive relationships with suppliers.

With us, you also get improved accuracy and compliance, cost savings and access to advanced technology.

GET STARTED

Steps to get your project up and running

1. Evaluation of workload

First, our financial executives evaluate your current accounting setup and offer a solution.

2. The offer

We sign an agreement, review relevant legal policies and decide on the start date.

3. Introduction to the team

We introduce you to the team who will be responsible for the project. We present new solutions if needed.

4. Providing accesses

We set up access to relevant platforms for our team — for example, accounting systems, banks, payroll software, etc.

5. Project analysis

We analyze your financial operations and agree on work instructions defining the exact tasks, procedures and deadlines so the partnership is fully transparent and data protected.

6. Project start

Our financial team starts a full operation on the agreed tasks and provides continuous suggestions for automation and process streamlining.

Our expertise

Invoice Management

AP payment processing services include the handling of incoming invoices. This involves capturing, verifying, and recording invoices received from suppliers.

Approval Workflow

Implementing an approval workflow ensures that invoices go through the necessary authorization steps before payment. This helps prevent unauthorized or inaccurate payments.

Data Entry

We complete accurate entry of invoice data into the accounting system. This includes aloocating expenses to the appropriate accounts.

Payment Scheduling

Payment processing services assist in scheduling payments according to the agreed-upon terms with suppliers. This includes setting up recurring payments for regular expenses.

Supplier Management

Maintaining a database of vendors and managing communication with them is part of these services. This include handling inquiries and resolving discrepancies.

Payment Methods

We facilitate payments through various methods, such as electronic funds transfer (EFT), or other digital payment options, depending on the preferences of the client.

Automation

Leveraging technology, AP payment processing services incorporate automation to speed up repetitive tasks, reduce errors, and enhance efficiency. We cooperate with software providers that offer tools for AP automation.

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