Service offered Document Management
Merit scans, indexes, and stores AP documents to ensure easy document tracking and retrieval.
Documents are indexed by supplier name, URN, invoice total, etc., and can be integrated into a range of document management systems.
Invoice processing, order-reconciliation, & exception handling
Merit reconciles invoice line items with matching orders, highlights un-reconciled items.
Reconciliation entails basic levels of document classification, enabling easier budgeting and the correct classification of cost centres.
Merit extends the matching process to delivery note verification, providing a three-way reconciliation process for better expenditure control.
Expense management
Merit enables redirection and outsourcing of cost incurred by processing expense claims.
Merit can reduce client overhead by mirroring existing practices.
Possible exceptions or limits are brought to the attention of the client.
Statement reconciliation
Competent classification and categorisation of transactions.
Supplier liaison
Enables clients to redirect frontline queries to a low-cost resource
Types of queries effectively handled at this level include
- Is the invoice in the system?
- Has it been approved?
- When will it be paid?
- Is the invoice in the system?
- Has it been approved?
- When will it be paid?
Collection
For clients with high volume/low value transactions, it is essential that costs of sale and administration are kept as low as possible.
Offshoring a large proportion of customer collections yields strategic benefits.
We oversee the collection of outstanding balances; managing initial communication and dispute resolution.
For overdue balances, communication can be tranferred to Merit’s specialist team for a more direct approach.
Benefits
Merit is competitive; we guarantee savings of up to 30% on alternative methods of back checking
Merit is competitive; we guarantee savings of up to 30% on alternative methods of back checking
Cost savings: Merit’s UK-managed offshore model guarantees savings of up to 35% compared to internal or UK-based service providers.
Reduces operational overhead: Using Merit as a resource enables headcount reduction, and frees talent for reassignment (e.g., accounts, HR, IT, temps).
Scalability: Merit has a broad range of clients and sufficient staff to handle peak-time call handling and research volume.
High service quality: Merit’s finance and accounting teams have extensive experience in core activities and are backed up by practice experts.