Overview of Finance & Accounting Outsourcing (FAO)

OneSource Virtual

Finance and Accounting Outsourcing That’s Different At Its Core

What’s the Problem with In-house Accounts Payable?

  • Compounds risk through error prone manual processes
  • Lacks visibility into data and processes
  • Fails to efficiently scale without adding headcount

What’s the Problem with Traditional Outsourcing?

  • Requires numerous integrations and interfaces producing points of failure
  • Restricts process control and visibility into data
  • Forces value predominantly through the Lift & Shift model

What Happens When You Implement OneSource Virtual’s FAO Solution for Workday Financials?

  • Provides a single system of record with automated capture, reducing errors and risk
  • Promotes process control, supplies real-time insight and
  • Improves visibility into data
  • Delivers scalability and efficiency underpinned by the as a service model

Leave the Old Way of Outsourcing Behind

OneSource Virtual Finance and Accounting Outsourcing (FAO) isn’t offshoring or the old “lift and shift” model. It addresses antiquated and flawed business processes to improve systems, not just move problems into the hands of lower cost resources. OneSource Virtual’s model of outsourcing combines bold new methods and proprietary technology to standardize and automate the transactional side of Accounts Payable management. Made up of finance and accounting and Workday certified professionals, our team works within your Workday application as an extension of your team.

Elevate Performance and Support Finance Transformation

Automating Accounts Payable (AP) isn’t new. So what about OneSource Virtual’s FAO is different? You use the financial management tool you already have in place –Workday –and we plug directly into your application to deliver world-class AP solutions through a Business Process as a Service (BPaaS) model. You use what you need and upscale or downscale on demand. No third-party integration required. Workday Financial Management unifies a full range of core finance capabilities, and OneSource Virtual augments and completes the automation of the procure-to-pay processes within Workday to provide your company with a simplified supplier payment process. This allows your organization to house and service all of your financial functions and solutions in a single, unified system that simplifies processes, creates greater efficiencies and improves cash flow. You free up resources for more strategic activities and that contributes to business growth.

We are Workday Experts

OneSource Virtual is dedicated to delivering outsourcing services exclusively on the Workday application. Finance and Accounting offerings include:

  • AP Imaging- Basic invoice imaging technology that delivers digital copies of scanned physical invoices.
  • 1099 & 1096 Services- Creation and distribution of 1099 forms. Filing of 1096 reports.
  • Managed AP- Coding that informs automated processing to eliminate manual keying. Includes enhanced invoice imaging and fulfillment services.
  • AP Administration- Standard invoice imaging and fulfillment services.
  • Fulfillment- Processing and payment of AP checks using your bank account.

The New Way of Finance and Accounting Outsourcing

Don’t shift or offshore an entire department. Don’t relegate your employees to pushing paper from one side of the desk to the other. Keep control in-house and let the the Workday Experts at OneSource Virtual optimize your Workday Financial Management application with extended enhancement of automated AP processes.

Connect with a OneSource Virtual representative today to learn how modern FAO can help you transform AP obstacles into cost savings opportunities, and ultimately transform your organization.

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