With the announcements around changes in the Prompt Payment Code coming into force from 1st July and also the roadmap from the Government to ease the latest lockdown, organisations and specifically departments such as Finance and Accounting are going to see their workloads increasing as suppliers and businesses start getting back to normal.
Due to the pandemic many organisations have sadly had to reduce team sizes and in some cases reluctantly let teams go all together. This means the increased workloads could prove a real challenge for some teams to cope with. This is where Liberata can come in and help your organisation.
How Liberata Can Help
With our Back on Track Service, we deploy qualified UK-based staff to clear backlogs and work with the management team to get to the root cause and advise on practical ideas to prevent future issues. We get up and running quickly and will work with whatever core accounting system you have in place – and we’re happy to work on the basis of a short-term commitment only.
Tangible results you will see for Accounts Payable include:
- Invoice backlogs cleared
- Costs reduced
- Fewer enquiries from suppliers
- Suppliers paid on time
- No more stop notices
- Improved cash flow forecasting
- Greater confidence in accuracy of accounting records
- Supplier statements reconciled and previously unknown credits uncovered
- Detailed understanding on the root cause of issues
- A practical to do list to execute
We are just as effective for Accounts Receivable teams too, dealing with all key areas where backlogs can build up, including raising invoices and credit notes, credit control, new account set ups and amendments, and allocation of cash receipts.