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A SMARTER APPROACH TO managing accounts payable and receivable


Ricoh BPS Services for AP and AR

On the surface, Accounts Payable and Accounts Receivable may appear to be back-office busywork—repetitive tasks that are a “necessary evil” for any business. Upon more careful examination, it becomes clear that many organizations have room to improve the way they manage these financial and accounting processes.

With a fresh approach that streamlines and automates AP and AR processes, organizations can realize a number of key benefits. Those benefits can be financial—including avoiding late-payment penalties, maximizing the potential for early-payment discounts and more proactively managing cash flow. They can also be reputational; after all, repeated payment errors or delays can erode supplier trust. Despite the potential advantages, many organizations lack the time and human and budgetary resources to overhaul their current approach to AP and AR. That’s what makes business process outsourcing (BPS) an attractive option for mid-size to large organizations across industries.

Ricoh BPS Services for AP and AR enables organizations to offload the burden of day-to-day AP and/or AR management. Following a careful assessment of each organization’s situation and needs, Ricoh tailors service level agreements (SLAs) to address specific business requirements and opportunities. From AP invoice, remittance and check processing to AR data extraction and processing, Ricoh helps organizations in addressing a number of key objectives. In delivering this services, we leverage our infrastructure—including people, processes, technology and our network of 40+ imaging and processing centers across the United States.

  • About Ricoh BPS Services for AP and AR
  • Challenges/Benefits
Ricoh BPS Services for AP and AR – an integration of people-process-technology – is driven by the need to streamline and enhance management of core financial and accounting processes.

Ricoh BPS Services for AP and AR Infographic - Click to View Large Infographic

  • People. Ricoh BPS Services for AP and AR is supported by a team of engineers who provide project planning, processing and engineering management. Following design of SLAs, Ricoh services are delivered by trained professionals working in our network of imaging and processing centers across the country. We train employees on the full policy and procedure manual related to the automation process, as well as customerspecific requirements. This commitment to cross-training supports the elasticity and flexibility of our team—while continuous data collection allows us to monitor and compare actual performance against SLAs and specific key performance indicators (KPIs).
  • Process. Ricoh has decades of experience in delivering document management services that allow organizations to focus on their core businesses. The Ricoh Methodology Framework defines how we manage projects, develop software and perform application testing and support. Ricoh BPS Services for AP and AR also reflects national best practices for workflow and compliance with the Sarbanes-Oxley Act, the Health Insurance Portability and Accountability Act (HIPAA) and other applicable regulations. Every part of our process is designed to support speed, efficiency, consistency and visibility.
  • Technology. While Ricoh BPS Services for AP and AR is a pure services offering, it is enabled by Ricoh’s technology infrastructure. With a proprietary processing platform, we’re able to tailor our software to address clients’ specific operational needs and requests. We’re also committed to continuous improvement—updating the code based on feedback from our service center and other end users.

Challenges Addressed
  • Lack of clear, standardized processes for AP and/or AR
  • Overreliance on paper-based processes and manual data entry
  • Inadequate visibility into AP and/or AR processes
  • Ongoing struggles to reduce paper volume and paper handling
  • Poor performance in accurate, on-time payments
  • Inability to accurately assess and act on early-payment discount opportunities
  • Lack of strategic support for enterprise cash management
Benefits Attained
With clear SLAs, Ricoh BPS Services for AP and AR is designed to address each organization’s specific business requirements. Among the goals we help enterprises to address:

Drive greater cost effectiveness
  • Reduce labor burden through faster, more efficient document processing and workflows
  • Seize early payment discounts (AP) and improve visibility to cash flow (AR)
  • Improve stakeholder productivity and effectiveness through reduced workflow cycle times
Take control of paper—and productivity
  • Streamline and accelerate business processes—reducing reliance on manual, paper-based processes
  • Increase the consistency and flexibility of AP and AR workflows
  • Enhance communications among internal departments
  • Archive invoices and AR records to enable better recordkeeping and audit preparation
Integrate and optimize information
  • Accelerate the integration of AP and AR data into core systems and workflows
  • Enhance business intelligence—identifying potential opportunities for cost-saving and critical financial and operational improvements
  • Facilitate fast, secure access to AP and AR data—without having to search through electronic files or physical boxes

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