Payment

Every organisation makes payments out to suppliers, clients, and customers. This naturally takes time and effort, but accuracy is clearly a top priority. We often see that the processes in a finance operation or department are some of the best in the organisation, but unfortunately only by accuracy. Payments out can take a lot more time and effort, and therefore cost, than should be the case.

We have a great deal of experience in this area, and have improved and automated serveral finance processes. Automating these processes can acutally increase accuracy, remove up to 80% of the work effort, and leave an organisation more in control of finacial reporting and management.

Payments types that can benefit from review will include high volume and run of the mill transactions, such as monthly accounts payable, and accounts receivable reconciliation. However, the ad-hoc payments out or occassional instances such as re-issue of a missing cheque payement, can also be areas worth restructuring and automating.

Payments out generally reflect the standing of any company - if you are a slow or inaccurate payer then this will reflect on your credit standing as well as your customer. Manual processes or systems with a great deal of authorisation and checking do not generate the efficiency and accuracy you are looking for. It is a very simple fact that organisations cannot inspect in quality. T-Impact can provide outstanding returns from process review, optimisation, and automation, and the finance department is always a good place to start.