AR / AP Services

Accounts Receivable Managing cash flow for meeting the company’s working capital requirements is always a prime focus for every organization to ensure seamless finance operations. To forecast the future working cash flow, it is important to know at any given point of time the status of receivables and payable along with the time lag. Most of the time the reason for negative cash flow is due to unsystematic coordination and non-understanding customer process of Invoice processing. Spectra manages your AR process ( accounts receivable process ) effectively through dedicated process experts who work in close coordination with the client’s payable team by creating SOPs for each customer so as to minimize time taking in resolving queries at the very first level. A full-fledged AR process cycle and a related subset of processes help easy workflow and improved core functional assistance. Accounts Payable In every company vendor, the Invoice processing process / Accounts payable process has to pass through various stakeholders for approvals before it is finally paid. In the entire process, the vendor has no visibility of the status of outstanding invoices. In the whole process vendor and company both spend a lot of energy in follow-up / explaining the exact status of the invoice and payment schedule. For any finance department, tracking each and every vendor invoice status in real-time is difficult because it travels through different departments in the company for approvals. To overcome this challenge, Spectra has developed a mechanism with the help of technology, process mapping, and a manual interface to track down or monitor the invoice status through Vendor Help Desk services. Initiation regarding receipt of Invoices through Centralized Vendor Help Desk by electronic mode. Forward Invoice to respective department or departments for approval as per the approval hierarchy.rnInform invoice-related discrepancies to the vendor and seek clarification.rnForward vendor clarification and resolve query with the concerned department.rnAsk the vendor to re-submit the discrepant invoice.rnForward approved invoice to finance department for cheque preparation / online transfer.rnInform vendor about the payment schedule.rnMonitor turnaround time for payment as per SLA.rnKeep a record of correspondence with vendors.rnMIS reporting at regular intervals. Finance Outsourcing Services : Know more...