Frequently Asked Questions - Accounts Payable Processing

Q: What Accounts Payable Processing services does VIT offer?

A:

• Receive/Open Mail
• Prepare Documents
• Imaging
• Invoice Validation
• Online Data Entry
• Web-based Document Routing and Management
• Integration with your existing AP Software
  
  

Q: What are the benefits of outsourcing with VIT?

A:

• Lower operating costs through fewer errors and processing efficiencies.
• Increased cash management control through better process management.
• Greater supplier satisfaction through high-level customer support and service.
• Quicker turnaround time to take advantage of early pay discounts.
  
  

Q: What is Workflow?

A: Workflow refers to a program that queues, tracks and otherwise manages documents, work items and collections of documents and work items as they progress from entry into the system and through the various individuals or offices in the organization until a business process is completed.

Q. Does outsourcing really save money?

A: By adding a "virtual" accounts payable department, outsourcing experts have determined that you can save at least 25% of your current accounts payable processing costs. These costs include direct labor, overhead, management, supplies, software and hardware.

Q. What types of accounts payable transactions does VIT handle?

A: We handle a wide range of transactions, including purchase order and non-purchase order invoices, statements, EDI transactions, check requests, delivery tickets and packing slips.

Q. Will I lose control of my accounts payable process?

A: Outsourcing your accounts payable process helps improve your information management, quality controls and audits, and fixed transaction prices. VIT integrates with your policies and procedures. We refine our services as your business needs evolve. You have access to real-time summaries and detail reports to track paid invoices and measure our performance. VIT partners with you to develop solutions for streamlining processes and maximizing operational efficiencies.

Q. Will it be expensive and time-consuming to implement?

A: There are minimal up-front fees. Costs are based on a per-invoice processing fee. We can go "live" with your virtual accounts payable department in four to six weeks in most cases. This includes deciding on the custom solution, detailing policies and implementing the network connection between systems.

Q. Do I have to purchase new software and/or modify my systems?

A: No. All you need is an Internet connection, e-mail and a Web browser. Our software interfaces directly with all accounting packages. No modifications are required to your system and no software installation is necessary on your desktops or network servers.

Q. Will my employees have to learn a new system or change how they work?

A: Instead of hard copy invoices, your employees will find electronic versions via a Web site. They are notified of invoice status by e-mail. Their comments on each invoice can be entered online and forwarded to the appropriate person. It saves employees time, paperwork and confusion.

Q. If I am interested in exploring an outsourcing partnership with VIT, what is the next step?

A: The first step is to call 803.547.8888 or e-mail info@vimagetech.com. One of our representatives can answer your questions and schedule a time to meet with you to determine the right solution for your needs. Once you are satisfied with our approach, we can go "live" within four to six weeks in most cases.