Accounts Receivable Services

In today’s business world, outsourcing accounts receivable services have become popular, as cash flow is of utmost importance in every enterprise. Typically, the business' performance becomes more predictable when collections and cash flows are timely. But companies have to ensure that they derive the maximum output from the amount they spend on managing their receivables.

SOS provides accounts receivable outsourcing services that improve collections, along with the company's lifecycle from order to cash. Our accounts receivable implementation is in accordance with the best practices and delivers frequent analysis, automation, reporting, improved communication and flexibility. The practices cover collections, credit, cash receipts and applications, payment terms, individualized contract management, and electronic and paper-based procedures for billing.

We keep you informed about your customer relationships and receivables through our regular reconciliation and analysis provided all through the order to cash cycle. We recognize and resolve any causes for payment delays in the course of our efforts towards continual improvements.

An Overview of Our Accounts Receivable Services:

We can take care, on your behalf, of all the processes mentioned below:

  • We can create invoices based on documentary evidence such as service/ product delivery confirmations and sale order copies
  • Statements that you require, such as total cost per line item, analysis by program or project code
  • Uploading electronic invoices onto your systems, after transmitting these electronically
  • Updating factoring of accounts receivable, if any
  • Updating invoices into accounts receivable (invoice processing services)
  • Following up collection of accounts receivable, along with monitoring
  • Updating accounts receivable for collection, besides reconciling bank account credits
  • Itemizing advances or deposits received, besides receipts, etc.
  • Escalating/alerting short payments
  • Preparing and sending account statements
  • Escalating/alerting you about differences found while reconciling your records with account statements.
  • Preparing accounts receivable reports based on analysis of accounts receivable by age, business segment, customer, etc.
  • Preparing accounts receivable reports based on analysis of accounts receivable by age, business segment, customer, etc.

Reasons for Outsourcing Accounts Receivable Services:

  • Operating cost minimization
  • Delinquency minimization
  • Increase in recoveries and cash flow
  • Unapplied credit elimination
  • Bad debt reduction

Why Choose SOS

  • A single source of delivery for documentation for accounts receivable, such as consolidated electronic, mail and print delivery
  • Streamlining of receivables to improve productivity with the help of services related to accounts receivable deduction management
  • Time savings through quick access to document images by many users
  • Greater flexibility and speed
  • All documentation related to customer service in a single repository
  • A problem-solving approach and processes for quality assurance to improve customer loyalty
  • A common web browser for retrieval of data and documents at any point of time
  • Lower costs
  • Virtual extension of your credit department
  • A highly experienced collections team that increases salvaged revenues through primary charge-offs
  • A Law Firm
    I am writing to recognize the fast and accurate legal research services I have been provided by Cogneesol during the past two years. It was almost unfeasible to manage our law firm’s increasing workload without the outstanding support provided by their team of talented and certified attorneys.
    A Law Firm
    Oakland, California (US)
  • A Leading Restaurant
    My restaurant has been working with you since the end of 2012, if I remember correctly. The point that we still outsource all our accounting tasks to you, speaks loads regarding how happy we are with your customer-centric accounting services. We truly appreciate your professionalism and turnaround time.
    A Leading Restaurant
    Bristol, England (UK)
  • An Insurance Agency
    My insurance agency has been working with SOS for about five years and has at all times been satisfied with their work quality as well as the promptness of the team’s response. I am not going to hesitate in recommending them to anybody seeking to outsource their insurance back office.
    An Insurance Agency
    Baltimore, Maryland (US)