Businesses today have to face the constant challenge of lowering expenditures, squeezing the highest value possible from those expenditures, and fulfilling complicated administrative requirements. At Group EFS, our Accounts Payable Services are truly resourceful when it comes to providing you with the flexibility to transform your accounts payable process into a highly organized automated system that results in the highest quality service out there.

An efficient and effective accounts payable process affects your company’s cash position, credit rating, and relationships with suppliers, so it really is in your best interest to help it flow smoothly!

An efficient accounts payable process will:

  • Transform the A/P department into a profit center
  • Reduce processing costs and raise productivity
  • Provide 100% invoice visibility within 24 hours
  • Facilitate faster approvals, period closes, and provide detailed accrual reports
  • Vastly improve regulatory/SSAE 16 compliance and internal controls
  • Process vendor invoices in an accurate, legitimate, and timely fashion
  • Provide accurate recording in general ledger accounts
  • Accrue obligations and expenses that are not yet completely processed

 

How will we manage your cash flow, working capital, and spending?

While it’s true that accounts payable is in a great position to provide accurate forecasts of corporate cash requirements, without efficient cash management, accuracy is lost. From our company to yours: competitive service levels, up-to-date reporting, and the highest quality invoice data.
And, just because you’re out to increase the quality of your accounts payable service doesn’t mean you can’t also optimize costs! Vastly improve your financial decision-making with real-time visibility and actionable insights by taking advantage of our next-level automated processes:

  • We provide rapid ERP integration across IT systems, functions, and trading partners. And our ERP systems single sign-on features and integration templates shorten the time to your ROI!
  • Utilize our highly flexible and customizable integration processes to consolidate information from any backend for unparalleled visibility, control and process performance.
  • Switch to 100% paperless invoicing, cut costs, and help move your supplier base toward e-invoicing.
  • Review and approve expenses from any mobile device to drive cost savings and speed up the accounts payables process.

How are your suppliers paid?

Option 1

Term note financing (Supplier Payment Program)

This program, which requires an agreement between our company and your supplier, can be used to finance local and foreign accounts-payable. With this fast and convenient procedure, your supplier can be paid anywhere in the world in 24 to 48 hours.

Option 2

Financing accounts payable through Factors Chain International (FCI)

This option can be used to finance foreign accounts payable. Increase your purchasing power with your foreign suppliers—pay them directly through an FCI member in their home country, and guarantee the FCI member full payment. Through our affiliation with the FCI network, which counts 266 financial institutions in over 70 countries, we offer you this truly unique and versatile market program.

Option 3

Financing accounts payable with Canadian suppliers

Use this option to finance Canadian accounts payable. Your program cost can be offset to your suppliers—by paying an additional fee, they can receive payment immediately.

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