Accounts Payable

As organizations strive towards higher profitability, the Accounts Payable function becomes a key contributor towards working capitalization, optimization and generating cash savings. An efficient and automated Accounts Payable system not only ensures accurate and timely payments, it also helps build strong relationships with vendors. On an average, 3.6 percent of invoices have errors. While this percentage appears low as a percent of total annual spend, this can be significant for certain companies. Best practice organizations drive the error rate below 1 percent.

How Wipro Helps

Wipro's Accounts Payable Service is powered by our proprietary platform, Base)))™. We provide you with analytical capabilities to compare the actual payment period by vendor against the payment terms as per contract. This allows you fine tune payment dates to ensure no early or delayed payments, thereby avoiding delayed payment penalties or interest loss on account of early payments.

  • Foster Strong Relationships: Your vendor portal lets vendors submit invoices, track payment, raise queries and get answers instantly
  • Make every dollar count: With dynamic discounting based on the availability of cash
  • Higher Visibility and Higher Customer Satisfaction: With seamless monitoring providing all stakeholders with real time visibility and control
  • Standardized Processes: Enabling flexibility of implementation across geographies

Wipro's Accounts Payable Service powered by Base)))™ automates the entire Accounts Payable cycle from invoice capture to payment. Our service is capable of handling invoices from multiple channels (mail, e-invoices, and supplier portal) and offers two-way and three-way invoice matching for enhanced control. It helps eliminate duplicate invoices and reduces erroneous invoice entries through implementation of automated indexing via OCR.

We offer you a fully automated and paperless workflow approval system which uses allocation rules to send automated reminders to resolve exceptions. The tool tracks and stores all the approvals and communications related to exception invoices thereby ensuring compliance to SOX.