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      What is outsourced accounts receivable services?

      Outsourcing accounts receivable services involves sending tasks such as invoicing, generating statements and reconciling customer accounts offshore for completion by a resource that’s outside of your organisation. They’re typically located overseas in countries such as the Philippines.

      By outsourcing accounts receivable, businesses are able to then focus on tasks that are core to their business. Account personnel can focus on more complex and analytical tasks that have a real impact on the day-to-day financial operations of the business.

      Sending accounts receivable tasks offshore is also more cost effective than employing locally, and gives your accounts team the dedicated support they need at a drastically reduced price. Offshore accounts receivable staff can complete all the essential tasks required of the role, including but not limited to:

      • Reconciling of customer accounts
      • Reconciling general ledger and bank statements
      • Commission calculations
      • Month-end and year-end processes
      • Financial and sales reporting
      • Preparing and processing monthly journal entries
      • Maintaining the billing system
      • Generating invoices and account statements
      • Maintaining accounts receivable files and records
      • Investigating and resolving any irregularities or enquiries
      • Working with required accounting software such as MYOB, Xero or Quickbooks

      Why do businesses outsource accounts receivable offshore?

      Businesses may choose to outsource their accounts receivable tasks for a number of reasons. Not only does it cost less, but it’s also easier to find dedicated staff who want to do the work. This then leaves your local team free to focus on more complex work to grow your business and will ultimately lead to more satisfied employees.

      Back-office tasks such as accounts receivable can easily be handled offshore, ensuring you stay on top of your paperwork and your accounts. You can get on with generating new business and sales, while your offshore staff ensures that you’re receiving timely payments. And at any given time, you’ll know exactly where your business stands financially, what your sales figures look like and who owes you money.

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      What other accounting job roles can be outsourced?

      At Beepo, we have access to a huge pool of financial and accounting talent. We can fulfil a number of accounting roles in addition to accounts receivable, and these include:

      What are the benefits of outsourcing accounts receivable offshore?

      Key benefits associated with outsourcing accounts receivable to the Philippines include:

      • Cost savings

        Outsourcing can save your business money by having day-to-day tasks completed in a lower-cost economy, where employment costs are up to 70% less.

      • Expert support

        Outsourcing providers are experts in providing insights and advice at each stage of the outsourcing process. Their expert advice can help your business or recruitment company get the best out of your outsourcing journey and ensure it is optimised for success.

      • Improve business flexibility and availability

        Outsourcing can help your business become more agile and flexible by opening up 24/7 availability.

      • Business growth

        Outsourcing can free up funds that can be used to reinvest back into the growth of your business. With the additional support of an offshore team member(s), you can increase the capacity for your business to take on more work.

      • Improved staff satisfaction rates

        Outsourcing can help you to identify roles and tasks that would be best suited to send to an offshore employee. That way, your local team can focus on what they do best and what motivates them, improving job satisfaction for employees in the long run.

      What are the costs associated in outsourcing accounts receivable services?

      Outsourcing your accounts receivable systems to the Philippines can represent significant cost savings of up to 70%. At Beepo, we offer a simple monthly fee to help you reduce your overheads and focus on growing your business. This monthly fee covers everything: including infrastructure, security, recruitment and training, management and staff benefits.

      For more detailed information on costs, please arrange a business consultation so we can tailor a solution to your business needs.

      The Beepo Advantage

      As an Australian owned and operated business, we offer a competitive advantage to Australian businesses through offshoring outsourcing. We understand the challenges and hardships our clients face. Across a broad range of industries, businesses are dealing with the challenges around recruiting and retaining staff, and that’s where we can help. We have a proven track record of finding, recruiting, training and onboarding talented staff in the Philippines who are ideally matched to our clients’ needs.

      Once your team members are onboard, we provide them with everything they need to hit the ground running on their first day and complete their job to the highest of standards. We manage your team, while you manage their job allocations, deadlines and required outputs.

      Our qualified, skilled and experienced accounts receivable staff will ensure your customers are invoiced correctly, accounts are paid in a timely manner and your business has up-to-date sales information. Your local team can then focus on tasks that will grow your business.

      Interested in learning more about the outsourcing solutions we can provide for your business?
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