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Outsourcing: an ally for invoice management

December 17, 2018

By: Adolfo Paredes | Business Development Advisor

Undoubtedly, automation is a key concept when we are speaking of setting up a cost-effective and efficient process, which can be scaled to any necessary magnitude. Digitalization is always the main step in automation, especially when your Accounts Payable team has to be processing a vast amount of bills every day and at a growing pace; this amount can even be more staggering in the case of Management companies.  

For management companies that must process a good amount of invoices every day, understanding each of the accounts that are being managed, especially utility accounts since they are naturally more critical to pay on time, doing correct management of bills can become an arduous task. This is why companies are realizing that they can be a lot more agile and efficient if they have a partner that specializes and can support these noncore activities, and let the management company focus on what they are experts in. 

In the particular case of property management companies, outsourcing makes it possible to streamline the configuration of automatic payments in relation to the administration of public services, among other things, such as: 

Correct balances: payments of invoices for services will result in a simpler work when you have a BPO as an ally. In addition, companies have a great opportunity to make better decisions when selecting suppliers and prices of their products, as well as analyzing the costs for the allocation of prices to each concept.

Looking to the future: reduced delivery times and automatic coding support allow for a greater financial forecast, more accurate and timely in the monthly and annual closing procedures.

Goodbye papers, hello outsourcing: with an effective outsourcing service we will save not only time in managing the accounts, but we also say goodbye to a considerable amount of paper bills, which today still affect 90% of the invoices in the world, and we do the  work more closely, to facilitate other processes within a company.

Personalized attention: real estate customers like to receive close and personalized attention, so outsourcing can also help to manage the mass response through emails, where relevant information is provided, in addition to sending invoices in a timely manner.

Time and resources: whether you are a property management company or a stock exchange company, outsourcing will always take care of these two important assets, which is reflected in better finances, more efficient service and partners with more time to do what you know best: boost your business.

More properties, less staff: by outsourcing and streamlining a big part of your back office, companies can acquire more clients without the need to increase their workforce.

Keep calm and outsource: thanks to outsourcing, companies have the great advantage of having a BPO expert in the management of software that facilitates daily tasks in property management and improves the back office processes that come with them.

The most important in these cases is to have the advice and support of a BPO with extensive expertise in back office processes, as well as to have optimal control of invoice management. 

In short, outsourcing does not mean saying "goodbye" to your staff, nor does it eliminate paperwork from one moment to the next, but it does represent a more strategic and resource efficient way to improve your processes within your company, resulting in greater innovation and quality for your clients.

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