Accounts payable (AP) today has evolved from a tactical, transaction-focused process to a strategic business function that optimizes working capital, enables greater savings for the business and helps improve supplier relationships.
GEP helps Fortune 500 and Global 2000 enterprises transform their accounts payable processes and create greater value for the business by optimizing working capital and operating costs, providing greater control and transparency, driving efficiencies through standardization, and delivering bottom-line savings.
Our comprehensive accounts payable outsourcing services include:
- Mailroom services
- Invoice scanning and data capture
- Document management
- Invoice processing
- Exception management
- AP help desk
- Reconciliations and reporting
- Audit and quality assurance
From invoice receipt, scanning and processing to exception management and payment reconciliation, GEP’s end-to-end accounts payable outsourcing services help procurement teams streamline the payment part of their procure-to-pay operations, delivering not just improved compliance and faster cycle times but also enabling value-adds, such as dynamic discounting and optimized batch payments.
GEP’s mailroom and invoice scanning services help you centralize receipt of all invoices – paper, fax, or digital. All your invoices are converted into a digital format, using best-in-class imaging technology with unique reference codes. Free up your resources from time- and effort-intensive paper work and data entry to help them focus on more strategic initiatives.
GEP’s automated invoice data capturing process using OCR technology ensures accurate invoice data extraction. All standard invoice data and other essential information is captured and uploaded to your ERP system. Multi-level quality checks ensure error-free data capturing and compliance.
Exceptions and errors in invoicing can delay payments to suppliers, block your working capital and result in loss of early payment discount opportunities. GEP identifies and manages invoice exceptions and works with your requestors/buyers and suppliers to resolve and expedite payments.
GEP provides payment processing solution to help you make timely invoice payments by optimizing payment runs based on due dates and turnaround times as per your contract terms. Improve cash flow and drive additional savings for the business by capturing early payment discounts, using our innovative, cloud-based source-to-pay software platform – SMART by GEP®.
Our experts analyze the invoices and vendor statements in scope to identify and validate any cost recovery opportunities, identify the root causes of discrepancies and help you reconcile and make financial recoveries. GEP delivers an action plan that optimizes your contracts and payment terms, improves your procure-to-pay process, increases compliance and prevents future leakage.
GEP combines consulting and process design experience, best-in-class procure-to-pay technology, proven expertise in transactional processing and continuous improvement to help you unlock more value from your accounts payable.