Are inefficient financial processes hurting your cash flow?
Do you struggle to find ways to capture early-payment discounts, reduce the number of duplicate payments, and improve productivity?
Xerox Finance and Administration Services help you manage financial processes more profitably. Using business process reengineering, we digitize and streamline the flow of "unstructured" documents from e-mail to faxes, on paper or online – and integrate them into your existing Enterprise Resource Planning data. By providing your finance people with easy, web-based access to the information they need, we help you accelerate processes, improve accuracy, and increase profits.
Xerox provides comprehensive capabilities to image, index, store, and dispose of documents through our global document management centers.
Information access
We provide accurate, up-to-the-minute information management that supports easier resolution of disputes and exceptions and faster decision-making.
Guaranteed consistent service levels
We serve as your single point of contact, simplifying the management of key performance indicators that support financial compliance requirements.
Business Applications
Xerox Finance and Administration Services bring improved performance and cost savings to mission-critical areas of your business.
Accounts Payable
By optimizing invoice and AP processes and integrating best-in-class workflow solutions, your organization is able to operate more efficiently – validate invoices, resolve vendor and internal inquiries, and obtain approvals. That means improved cash flow and supplier management.
Accounts Receivable
Improving the management of documents and correspondence related to collections eliminates time-consuming manual searches. You get instant access to all the information you need to resolve disputes, substantially reducing your metrics for Days Sales Outstanding. That means lower bad levels of bad debt and increased cash flow for investment income.
Travel and Expenses
By eliminating the traditional paper chase of staff expense claims and approvals, Xerox delivers improved productivity for both your finance and operational staff. You gain improved control and visibility of approvals for better policy compliance and expense management. You'll have the perfect audit trail for one of the biggest cost areas in your business with enhanced reporting to track peak expense periods – enabling better planning for future yearly spend.
General Accounting
We optimize your general accounting, financial management, and management reporting functions within a best-in-class controls-and-compliance environment (including Sarbanes Oxley 404). You enjoy a cost-effective service with the highest standards of financial processing across business units and geographies.
A Proven Approach
Xerox offers a full range of business processing services (BPS) transaction processing services for accounts payable, billing and collections, and travel and expenses.
Accounts Payable, Travel and Expenses
Process:
Document services > data extraction > exception management (Identification and Routing) > business services > disbursements
Business process reengineering and outsourcing with Xerox Finance and Administration Services offers a number of significant benefits for your company:
Regulatory compliance: Improve your internal controls, ensure compliance, and reduce risk with an auditable record of financial documents.
Reduced cost of operations: Reduce labor costs by automating and outsourcing these processes – yielding significant savings and productivity improvements.
Improved customer service: Discover how faster payments through more efficient processes can deliver a significant improvement in supplier/buyer relationships.
Leveraging existing investments: Increase value by integrating the unstructured supporting documents within your financial processes into the Enterprise Resource Planning system you've already invested in.
Improved cash management: Take maximum advantage of early payment discounts and save by reducing late payment penalties.
Faster cash collection: Resolve invoice disputes faster and decrease your Days Sales Outstanding.
Measurable Success
How do we know business process reengineering through Xerox Finance and Administration Services can make a real difference for your business? We've seen it work for many other companies. Take a look at examples of the measurable performance results we've delivered:
Widdowson Group, a leading U.K. logistics company, achieved a 400-percent improvement in processing Proof-of-Delivery notes, while eliminating customer queries and enabling a substantial improvement in cash collection for Accounts Receivable.
A global telco provider achieved significant operational cost savings by managing 2 million supplier invoices through a fully automated accounts payable process.
Xerox Corporation used our own processes, software, and off-shore capabilities in India to drive cost out of our shared service centre in Dublin. This includes a large reduction in FTE cost and an automated End2End process for accounts payable that improves productivity and further enhances the company's capability to increase the benefits of early payment discounts from preferred suppliers. Xerox intends to develop this capability worldwide.
As a logistics company, we have to ensure that our customers are given timely and accurate information about their orders.
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Richard Baxter, IT Systems Manager, Widdowson Group
Xerox specialists worked closely with UK logistics leader Widdowson Group to launch a new scanning and indexing system that improved their speed, efficiency, accuracy, and customer service; ultimately giving them a significant competitive edge.
A streamlined dispute management process that couples the people, process, and technology in an automated system delivers lower DSO (day sales outstanding), fewer deductions and writeoffs, and ultimately higher customer satisfaction.
As a logistics company, we have to ensure that our customers are given timely and accurate information about their 
