Accounts Payable
Management Services

A happy vendor ecosystem starts with
a well-managed accounts payable function.

Introduction

A robust and organized Accounts Payable process can help your organization in making payments efficiently, cost-effectively and accurately, thus lowering the cost of operations. As a business evolves in terms of volume or geographically, automating the Accounts Payable process becomes pivotal for organization’s success. This not only improves vendor relations and optimized use of cash but also enhances visibility and control over the process.

Accounts Payable Solutions by Mynd

Mynd is equipped with a wide range of offerings that help clients manage their end-to-end accounts payable function. Using the extensive experience of two decades in giving simplified solutions to complex business problems, we have built tech-enabled solutions that adds value to your accounts payable department. We not only deliver core service effectively and efficiently but we also help drive continuous improvement in the process by offering best in class performance and costs by facilitating smooth transactions and optimized payable processes. Our solution help managers have control over entire AP Process and identify the bottlenecks beforehand, thereby preventing any process chocking.

Better Controls

Standardized & transparent processes for complete control

Improved Efficiency

SLA based payments & TAT with flexible & automated processes

Enhanced Savings

Variable transaction fee model and huge savings on overheads

Scope of Services

Mynd Integrated Solutions boasts of a wide range of service offerings that help clients manage end-to-end accounts payable function. A quick look at the below scope of services provided by us will help understand the 360°approach adopted by Mynd in managing the accounts payable function.

  • Frontend Invoice receiving & verification
  • Single point of contact for vendor queries
  • Voucher movement management—upstream & downstream
  • Ageing & staging control of vendor invoices
  • Checking & verification
  • Matching (2 way/3way way) & accounting of invoices
  • TDS & WCT deductions
  • Parking & Posting

Invoice Copy Management-Pre & Post Processing

  • Invoice scanning & Indexing
  • Workflow Initiation
  • Management of E-Library of invoices
  • Ageing & staging control of vendor invoices
  • Analyse Creditors Ageing
  • Payment Run
  • Payment File Preparation/Upload
  • Payment Advise

Payables Process-Transformed

How a finance process is transformed with the help of digital Automation:

60 - 70% Automated*
Source/Input
90% Automated*
Processing
70% Automated*
Record Keeping

*Potential

Mynd PEARL – AP Automation

PEARL is a digital trade payables automation tool that streamlines an organisation’s “Procure to Pay” business cycle resulting in tangible savings & an improved partner ecosystem. PEARL comes with intelligent AI enabled OCR that improves the overall operational efficiency of the process and BOTS that provide ERP agnostic systems where native ERP is not to be exposed. Our Domain knowledge has been at the core of the platform, which delivers practical and effective solutions to repetitive yet critical business functions.

Case Study

The project was for a premier distribution and Information Technology (IT) services & solutions company. The company's principal activities included Cellular Phones and Computers/Microprocessor-based systems. It’s segments include Hardware Products & Solutions, and Distribution. Before the implementation of PEARL, the client had a distributed resources and infra operations spread across 26 regional offices in India and 4 Asian countries. This 40 year old company is registered on BSE and is part of a large Business House of India.

Testimonials

What clients say

Mynd Automation Suite

FAQs

  • Product
  • Privacy & Security
  • Technical
  • Customer Service

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Introduced teams with team leaders for each sector to take over the process on AS-IS basis. Mynd Integrated Solutions Pvt Limited achieved the target of stabilization of the processes...

Connect With Us

Get in Touch