It's 2024, and if you are looking for the best accounts payable outsourcing company for your business, this is the right place to be. Here, we have curated a list of top companies that have climbed their way up by providing financial assistance for years.
Even though some of the companies might not have a long history of service but their ability to stay at the forefront and provide quality service to their clients while facing emerging technologies has made them able to redefine the accounts payable outsourcing services arena.
1. Exiger
Recognized for its innovative technology, Exiger has made a commitment to making the world a better place. To this day, the company has earned more than 40 RegTech, AI, and supply chain partner awards for revolutionizing service through its software and tech-enabled solutions.
Be it government agencies, banks navigating risk, or supply chains and customers, they have amassed 550 customers across the globe.
Their solution is focused on risk management and compliance in the following areas-
- It helps assess and mitigate risks associated with vendors, suppliers, and other third parties your organization interacts with.
- Their services provide visibility and risk mitigation strategies such as mapping your suppliers, identifying potential disruptions, and ensuring compliance with regulations.
- Exiger's AI-powered tools investigate and assess potential risks prior to entering into business agreements or investments.
- Their assistance identifies and prevents financial crimes like money laundering or fraud.
2. Flatworld Solutions
With more than 18 years of service, Flatworld Solutions has been offering top-notch AP outsourcing services to their clients. The company has been providing specialized debit memos and suspect duplicate analysis services as well as processing Sarbanes-Oxley compliant.
With Flatworld Solutions, customers are guaranteed to receive various kinds of services, including invoice receipt and data capture, PO matching, invoice processing, and routing, as well as disbursement, accrual, general ledger, and archiving functions.
Their prices, this company has cost-effective pricing for all kinds of organizations. Moreover, they boast the fastest invoicing turn-around times in the industry with the help of their service centers located in New Jersey, Bangalore, and the Philippines.
Flatworld Solutions Company Strengths:
- The company has over 18 years of experience in the BPO and IT industry.
- They have a global presence which allows them to offer services with potentially lower costs and 24/7 availability.
- Flatworld Solutions can scale its services to meet the needs of businesses of all sizes.
- They claim to have tailored solutions to each client's specific requirements.
3. MineralTree Inc.
Headquartered in Boston, MA, MineralTree Inc. was founded in 2010 by BC Krishna to provide a specialized Accounts Payable (AP) automation software. MineralTree looks forward to supply streamline as well as improve the process of paying vendors for businesses.
Weather it is a corporate giant or a small startup, this AP provider with their cloud-based software saves time, reduces errors, and offers better visibility into finances. Recognized as a leader in AP automation, MineralTree boasts certifications like SOC 2 Plus HIPAA for data security.
This includes features like:
- Data extraction & invoice capture
- Two-way syncing with existing accounting systems
- Workflow automation for approvals
- Secure online payments
4. Quadient AP
Quadient AP is an accounts payable (AP) automation solution offered by Quadient that helps business houses streamline the process of paying vendors through automation.
If you are wondering what kind of tasks are automated, here are a few examples:
- Using AI, this company captures and extracts data from invoices to reduce manual work and errors.
- The software automates approval processes, routing invoices for review and approval electronically.
- Quadient AP allows for secure online payments to vendors.
By automating these tasks, Quadient AP aims to deliver benefits like less manual work, faster invoice processing, and improved efficiency. Moreover, greater visibility into the AP process allows for better control over spending. So, if you are someone looking for an AP automation solution, Quadient AP could be the best one for you.
5. ILM Corp.
ILM Corporation based in Virginia is characterized by its dedication to providing excellent customer service. Here, each client has direct access to a project manager who serves their clients equally.
It is also a significant supplier of market-leading AP services not just to important government agencies like the US Patent and Trade Office, the Internal Revenue Service, and the Department of Homeland Security but also focuses on pleasing their commercial clients.
The company also offers services tailored for nonprofits. In fact, they are fully compliant with Sarbanes-Oxley financial requirements and also offer compliance with all major industry standards, including:
- ISO 9001:2015 certification
- SOC 1 Type 2 audited
- PCI DSS compliant
- HIPPA compliant
- Department of Homeland Security secured the facility
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