Resolve Payment Discrepancies Using Our Accounts Receivable Services
Accounts receivable solutions are the processes and services that help businesses manage and collect payments. This includes tracking invoices, monitoring due dates, processing payments, and following up on late or outstanding balances.
Managed accounts receivable (AR) services, such as customer invoices, credit notes, debit notes, and other related documentation, play a crucial role in the sale of products or services on credit. These documents represent the money owed to the business by its customers, making them a vital part of the business's financial operations.
The primary purpose of having an accounts receivable team is to collect payments owed to a company from its clients or customers. Reliable accounts receivable outsourcing services are crucial for maintaining an organization's cash flow and financial stability.
Processing accounts receivable typically involves the following steps:
- Invoice issuance to Customers / Clients
- Recording and tracking invoices in an accounts receivable system or ledge
- Payment and due date monitoring
- Processing and reconciling customer payments against outstanding invoices
- Maintain accurate records and report on accounts receivable status
To streamline and optimize these processes, business owners or managers should seek assistance from a reputable accounts receivable company like Offshore Business Processing. Our comprehensive accounts receivable management services, advanced technologies, skilled personnel, and proven best practices ensure efficient and effective accounts receivable processes.
Streamlined Collections Process with Our Outsourced Accounts Receivable Services
Accounts receivable outsourcing management is a viable option for businesses of all sizes and industries seeking to optimize and better manage their financial operations. By entrusting accounts receivable management to specialized outsourced AR providers, companies can offload the complexities of invoicing, payment tracking, and collection processes.
Outsourcing accounts receivable solutions brings numerous advantages:
- Business owners and managers can pursue developmental strategies such as expanding into new markets, launching new products, or investing in research and development.
- AR services can also improve cash flow due to faster invoice processing, which reduces the time between issuing an invoice and receiving payment, ensuring that payments are on time.
- Outsourcing the management of accounts receivable can significantly enhance accuracy and compliance, thereby mitigating the risks associated with errors or non-compliance.
The cost of AR outsourcing varies depending on factors such as the volume of transactions, the complexity of services required, and the reputation of outsourced AR providers. Typically, outsourced services for accounts receivable involve a set monthly charge or a percentage-based fee of the amount collected.
While an initial investment is concerned, the long-term benefits of efficiency, accuracy, and financial stability often outweigh the costs. As a reputable outsourced AR provider, Offshore Business Processing has fully managed solutions that can meet your business needs and adjust to your budget constraints.
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Low Costs and Increased Conversion Rate
India and China may be considered as the top two BPO countries offering the lowest rates, but taking into consideration the above mentioned offshoring advantages, it remains clear that offshoring to the Philippines remains the best choice.
Highly Skilled and Available Workforce
Generally, there are six (6) basic skills which are required from any aspiring remote staff professional. These include: critical thinking skills, agility and adaptability, creativity and innovation, collaboration across networks, accessing and analysing information and effective oral, written, multimedia and multilingual communication skills
Cultural Compatibility
The country's cultural affinity with Western customs and traditions and its strategic geographical location has made it the most ideal offshoring destination in the world.
Data Privacy Policy
Offshore Business Processing values, and respects the Privacy Rights of our Clients, Client's Customer, Business Partners, Contractors, Personnel, and other identifiable individuals or collectively "Individuals".
We are committed to protecting the privacy and confidentiality of Personal Data through adherence to our Data Privacy Principles and the implementation of reasonable and appropriate security measures to ensure fair, appropriate, and lawful processing.
Background and Scope
Offshore Business Processing as a global service provider goes beyond the borders of the residing countries. The global market requires not only the availability of communication, technology, and information systems but also the integrity and confidentiality of processing information including the Personal Data of Individuals that can be reasonably be determined from the information available.
This Data Privacy Policy sets the principles which emphasize the Offshore Business Processing's standard practices for the processing of Personal Data of Individuals. This Policy applies to all personnel and accredited 3rd party service providers who must act consistently with the principles contained in the policy. Domestic and industry-specific privacy statutory laws and regulations shall take precedence over this policy, to the extent applicable within the confines of conflicts of law principles.
Privacy Notice
This privacy notice describes the privacy practices for www.offshorebusinessprocessing.com. This applies to the Personal Information collected by this website. It will notify the user of the following:
- What personally identifiable information is collected from the user through the website, how it is used, and with whom it may be shared.
- What choices are available to you regarding the use of your data.
- The security measures in place to protect against the misuse of information.
How the user can correct any inaccuracies in the information.
Policy Changes on Websites
Any changes to our Data Privacy Policy and Privacy Notice will be made available on our website. If there are changes to how we treat our users' Personal Information, we will notify them via email or put a notification on our website.
The Personal Information/Data we hold about the users must be accurate and up to date. It is the responsibility of the users to ensure that Offshore Business Processing has up-to-date and accurate Personal Information and an active email address for your website update subscription.
What is Personal Information
Personal Information is any information whether recorded in a material form or not, from which the identity of an individual is apparent or can be reasonably and directly ascertained by the entity holding the information or when put together with other information would directly and certainly identify an individual.
Personal Information we collect on our website is First and Last Name, Email Address, Phone Number, and Company through our "contact us" page.
How and Why Do we Collect It?
Aside from our website, we obtain Personal Information in many ways including interviews, correspondence, by telephone and facsimile, by email, from your website, from media or publications, from social media, from other publicly available sources, from our website cookies, and third parties.
We collect your Personal Information for the primary purpose of providing our services to you, providing information to our clients, and marketing. We may also use your Personal Information for secondary purposes closely related to the primary purpose, in circumstances where you would reasonably expect such use or disclosure. You may unsubscribe from our mailing or marketing lists at any time by contacting us in writing.
When you visit our website, www.offshorebusinessprocessing.com, we automatically collect certain information about your device, including information about your web browser, IP address, time zone, and some of the cookies that are installed on your device. Click here to know more about our Cookies Policy. Additionally, as you browse the Site, we collect information about our web pages that you view, what websites or search terms referred you to the Site and information about how you interact with the Site. We refer to this automatically-collected information as "Device Information".
This website may include links to third-party websites, plug-ins, and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites and are not responsible for their privacy statements. When you leave our website, we encourage you to read the privacy notice of every website you visit.
Disclosure
Your Personal Information may be disclosed in some circumstances including the following:
- Third parties where you consent to the use or disclosure; and
- Where required or authorized by law.
Retention and Security Measures
Only authorized personnel has access to Personal Data and will be retained and disposed of in accordance with Offshore Business Processing's retention and disposal policies, guidelines, and applicable laws and regulations.
Offshore Business Processing implements appropriate and reasonable Technical, Organizations, and Physical Security Measures throughout the Data Life Cycle of the Personal Data that is collected. This involves preventing or at least reducing the probability of unauthorized/inappropriate access to data, or the unlawful use, disclosure, modification, and deletion to protect its confidentiality, integrity, and availability.
Quality of Personal Data and Access
It is important that Offshore Business Processing holds accurate, complete, and up-to-date Personal Data of identified Individuals. It is the responsibility of the Individuals to ensure that collected Personal Data is accurate, complete, and up-to-date. If the Individuals find that the Personal Data is outdated and inaccurate, they should advise Offshore Business Processing as soon as practicable so an update on records can be done and continued quality services will be provided.
Individuals may access, update and or correct the Personal Data by sending a letter of request subject to the approval of the management. Offshore Business Processing will not charge any fee for your access request but may charge an administrative fee for providing a copy of your Personal Data. To protect your Personal Data, we may require identification from you before releasing the requested information.
Contacting DPO
For questions and/or concerns regarding this Data Privacy Policy, use of your Personal Data, or your rights in relation to the Data Privacy Act of 2012, you may contact the Data Privacy Office in the following contact details:
Data Protection Officer
Email: dpo@offshorebusinessprocessing.com
Contact number: (+632) 7502-6411
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