Accounts receivable is a series of transactions on a balance sheet regarding billing for money owed to the company. For a company that sells on credit, the accounts receivable portfolio is one of the largest assets. However, often accounts receivable management area of asset is not given due importance or care. In a survey carried out among companies, more than 40 percent revealed that they do not follow through on policies, procedures, or performance targets. It was found that most of those companies do not have enough work forces to focus on this issue. Being a vital business process, companies are hesitant to outsource this process. Searce provides the ideal option to conduct this business process on a shared basis.

Conducting Accounts Receivable as a shared business service with Searce ensures quicker and increased recovery, reduction in bad debts and reduced operational costs. Searce provides the most comprehensive, accurate and reliable 24 hour turn-around AR processing. Advantages of conducting AR management with Searce include consolidated print, mail, and electronic delivery of accounts receivable documentation and online access to a universal repository of all information related to the accounts receivable. We are one of the few AR Management service providers capable of providing follow-up services for accounts receivable.

By operating the AR management process as a shared service with Searce, we guarantee our clients will have better relationships with their customers, improve DSO and working capital, increase AR recoveries, reduce write-offs and also gain cost savings of above 35%. These advantages will be clearly measurable and will have an immediate impact on the company. Our services for AR Management process includes:

• Cash Application
• Capture Details of Check & supporting statement
• Scan, Fax, Email, FTP (from client’s location or a Searce Facility)
• Image capture or OCR
• Indexing and Archiving
• AR Analysis
• Match & merge documents to Invoices & Statements
• Identify & investigate unpaid and partially paid Invoices
• Custom reports for past AR cleanup
• Collection & Follow Up
• Understand cause of unpaid Invoices
• Manage Disputes online or over the phone
• Resolve discrepancies – Provide additional information
• Re-invoice for Invoices not received
• Document & categorize cause for delay/non-payment
• Bank & Client-Vendor Account reconciliation
• Periodic Bank Reconciliation
• Periodic Client-Vendor Account reconciliation to clear all pending discrepancies
• Business Intelligence
• Analysis of underpaid and rejected Invoices
• Monitor collection performance with statistical reports
• Identify the most frequently occurring trouble items contributing to client-vendor discrepancy/disconnect
• Advanced Data Analysis to discover patterns and identify process improvement opportunities