Whereas the Assets Cycle involves management of customer-related procedures, the Liabilities Cycle also includes management of vendor-related procedures: orders, proposals, entry of invoices and checks on payment times.
Correct management of the Liabilities Cycle is a sensitive area which affects both, a company’s efficiency and its costs.
Optimising the processes involved in the liabilities cycle also influences many strategic company functions, such as monitoring stocks, checking orders and transport documents and therefore reducing payment approval times, thereby avoiding the need for payment demands or late payment.
The Omniatel service is provided through an ICT link with the Customer’s own accounting system and allows:
The global solution of the Omniatel liabilities cycle provides companies with an efficient and effective “turn-key” vendor administration service .