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Getting an invoice out the door is only the first step. The money still needs to come in.
InfyWorx provides outsourced accounts receivable support to help businesses stay on top of customer invoices, outstanding balances and payment follow-ups. We handle the administration around invoicing, payment allocation, account reconciliation and debtor follow-up so your internal team is not spending every week chasing overdue accounts.
The goal is simple: keep your receivables organised, improve visibility over what is outstanding and make the process of getting paid more consistent.
Accounts receivable is the process of managing money owed to your business, from issuing invoices through to recording payments and following up outstanding balances.
When invoices are delayed, payments are not allocated correctly or overdue accounts are left untouched, your cash flow can become harder to manage.
Our outsourced accounts receivable service gives your business a defined process for invoicing, payment tracking, reconciliation and follow-up.
A good accounts receivable process starts before an invoice becomes overdue.
Customer and invoice information needs to be accurate, invoices need to be issued on time, incoming payments need to be allocated correctly and outstanding accounts need to be monitored.
We work around your existing processes and agreed payment terms to keep receivables moving from invoice through to payment and reconciliation.
A long list of outstanding invoices is much harder to manage when nobody has a clear view of what is due, overdue or already paid. Consistent receivables administration keeps that information visible.
Invoices can be easy to overlook when the same team is also managing customers, operations and finance. A defined follow-up process keeps outstanding accounts on the radar.
Knowing that a customer has paid is only useful if the payment is correctly allocated to the right account and invoice. Consistent allocation and reconciliation help keep customer balances accurate.
Accounts receivable gives management a clearer picture of money that is expected to come in, what is overdue and where follow-up may be required.
Payment follow-up is repetitive and can take valuable time away from your internal team. Outsourcing the administration gives your staff more time for work that requires their attention elsewhere.
A clean receivables process makes it easier to answer questions about invoices, payments and outstanding balances without searching through emails and spreadsheets.
Every business has different customers, payment terms and billing cycles. We work around your existing invoicing process, customer information and approval requirements so accounts receivable fits the way your business operates.
You get a clear point of contact for receivables administration, payment queries and outstanding account issues. Your team does not have to manage every follow-up themselves.
We look at how invoices are currently prepared and issued, how customer payments are recorded and how overdue accounts are followed up.
We establish the process for invoicing, payment allocation, reconciliation, reminders, overdue account follow-up and reporting.
Relevant customer records, payment terms and outstanding invoice information are organised so each account can be managed consistently.
Invoices are prepared and issued according to the agreed schedule, while incoming payments are recorded and allocated against the appropriate accounts.
Outstanding invoices are reviewed against their payment terms. Where follow-up is required, reminders and account communications are managed according to the agreed process.
Customer accounts are reconciled and agreed receivables reports are prepared, giving your team a clearer view of outstanding balances and payment activity.
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