Outsourcing Accounts Receivable Services

What is outsourced accounts receivable services?

Outsourcing accounts receivable services involves sending tasks such as invoicing, generating statements and reconciling customer accounts offshore for completion by a resource that’s outside of your organisation. They’re typically located overseas in countries such as the Philippines.

By outsourcing accounts receivable, businesses are able to then focus on tasks that are core to their business. Account personnel can focus on more complex and analytical tasks that have a real impact on the day-to-day financial operations of the business.

Sending accounts receivable tasks offshore is also more cost effective than employing locally, and gives your accounts team the dedicated support they need at a drastically reduced price. Offshore accounts receivable staff can complete all the essential tasks required of the role, including but not limited to:

Reconciling of customer accounts
Reconciling general ledger and bank statements
Commission calculations
Month-end and year-end processes
Financial and sales reporting
Preparing and processing monthly journal entries
Maintaining the billing system
Generating invoices and account statements
Maintaining accounts receivable files and records
Investigating and resolving any irregularities or enquiries
Working with required accounting software such as MYOB, Xero or Quickbooks

Why do businesses outsource accounts receivable offshore?

Businesses may choose to outsource their accounts receivable tasks for a number of reasons. Not only does it cost less, but it’s also easier to find dedicated staff who want to do the work. This then leaves your local team free to focus on more complex work to grow your business and will ultimately lead to more satisfied employees.

Back-office tasks such as accounts receivable can easily be handled offshore, ensuring you stay on top of your paperwork and your accounts. You can get on with generating new business and sales, while your offshore staff ensures that you’re receiving timely payments. And at any given time, you’ll know exactly where your business stands financially, what your sales figures look like and who owes you money.

Efficiency increase

By handing over transactional accounts receivable tasks to the offshore team, you are providing your local team with the opportunity to take on more work. By distributing workload across your offshore and onshore teams, your businesses efficiency and productivity levels will increase.
Cost Savings

By hiring an outsourced team to assist your onshore departments with these accounts receivable tasks for a fraction of the price, your organisation's overheads and staff costs will dramatically decrease, by up to 70%.
Increased employee satisfaction

Accounts receivable's tasks can be quite tedious and time consuming. By handing over these repetitive jobs to your offshore team, you will see an increase in employee satisfaction as your onshore team will be able to focus on what they were initially hired to do.
Business growth

By enabling additional capabilities through your offshore team, you will be able to provide your local employees with the capacity to take on more work. This in turn will lead to sustainable business growth.

What are the costs associated in outsourcing accounts receivable services?

Outsourcing your accounts receivable systems to the Philippines can represent significant cost savings of up to 70%. At Beepo, we offer a simple monthly fee to help you reduce your overheads and focus on growing your business. This monthly fee covers everything: including infrastructure, security, recruitment and training, management and staff benefits.

For more detailed information on costs, please arrange a business consultation so we can tailor a solution to your business needs.

The Beepo Advantage

As an Australian owned and operated business, we offer a competitive advantage to Australian businesses through offshoring outsourcing. We understand the challenges and hardships our clients face. Across a broad range of industries, businesses are dealing with the challenges around recruiting and retaining staff, and that’s where we can help. We have a proven track record of finding, recruiting, training and onboarding talented staff in the Philippines who are ideally matched to our clients’ needs.

Once your team members are onboard, we provide them with everything they need to hit the ground running on their first day and complete their job to the highest of standards. We manage your team, while you manage their job allocations, deadlines and required outputs.

Our qualified, skilled and experienced accounts receivable staff will ensure your customers are invoiced correctly, accounts are paid in a timely manner and your business has up-to-date sales information. Your local team can then focus on tasks that will grow your business.