Business Process Solutions - Best Practices

Committed to Delivering Best Practices to Accounts Payable Clients 

Initiating the adoption of accounts payable "best practices" should be the mid-summer goal for all mid-sized company executives. Empowering mid-sized companies with an accounts payable solution that matches the world's best finance and accounting departments will affect two very important business matters: cash flow and supplier relationships. Both cash flow and supplier relations can play a significant role in maintaining a level playing field against the competition. 

Most mid-sized company executives are aware of the implications of improving their existing accounts payable process but struggle when they begin designing and implementing a new solution. Improving performance by streamlining the process and reducing the associated costs requires special practices. A partnership with a virtual back-office services company is the rationale choice. These companies are experts at queuing different types of invoices from different locations while managing clerk roles, responsibilities and accessing permission, which is tough to tackle for many mid-sized companies.

Telamon's Business Process Solutions Division is committed to helping mid-sized companies minimize late-payment costs, such as a late-payment penalties, interest charges and lost prompt-payment discounts.

Best Practice Focuses

1. Pay invoices on a predetermined schedule of the company's choosing.
2. Ensure the accuracy and authenticity if invoices that the company pays.
3. Process accounts payable paperwork with a minimum of handling and expense.  

Reference: http://www.inc.com/articles/2000/02/17065.html.