Learn about Transaction Processing
What is Transaction Processing?
Transaction processing refers to processing the data into a meaningful information or a record
Types of Transaction Processing
Payment processing (Accounts payable) it includes collection of vendor invoices & reimbursement claims, sorting, indexing, storing, scanning, approval and then making final disbursement. Processing happens at agreed intervals thereby avoiding duplication & disturbance and managing finances efficiently. This process also helps in reducing floating costs, timely payment and ensuring compliances.
Sales invoice processing (Accounts receivable) it includes invoice preparation as per the agreed contract, recording of revenue, preparing periodic statements, debit notes & credit notes, adjusting receipts and preparing accounts receivable reports. This process helps in minimizing delinquencies, increased cash flow & recoveries and better visibility.
Why Transaction Processing?
To enhance productivity and focus on business growth and customers, it is best to leverage services to experienced and competent data processing service provider.
What do we do?
In Oremus, we provide:
- Accounts Payable(AP)
- Accounts Receivable (AR)
- Vendor Management
- Billing and Collections
- Bank Payments
- Employee Expense Management
How we do?