More and more companies are choosing to utilize an accounts payable outsourcing firm for accounts payable services. Technocloud offers accounts payable processing services to provide clients with the utmost quality care so they can save time and money and spend more time on what matters most – running a business.

As the market shifts toward using online technologies, businesses must adapt and renovate their services to competitors. The benefits of hiring an accounts payable outsourcing firm will save you money may surprise you.

It takes much time and labour to review invoices for errors. Many companies are using outsourcing payable outsourcing firms, and they find that they save up to eighty percent on the cost of labour alone. Additionally, they save money related to errors on invoices. This takes up too much valuable time that could be spent on improving the company and consistently increasing profits.

There are several activities associated with Accounts Receivables, which are offered by Technocloud as follows:

• When an Invoice is raised, it is to be emailed/ posted to the Customer.
• At the month end, a Statement of Account is sent to the Customer.
• If payment is not received within agreed time frame, Customer needs to be chased by email/ calls.
• On demand, copies of Invoices are sent to the Customer
• If payment is not received after follow-up, a Legal Reminder is to be sent.
• If Customer does not respond to Reminder, a Legal Notice is sent asking to pay the amount due along with Late Payment Charges and Legal Fees.
• A Legal action will be imposed if Customer does not pay.