Drake Outsourcing offers both integrated and customised financial outsourcing services including:

• Accounts Payable
• Debtor Management
• Taxation Preparation
• Management and Financial Accounting
• Company Secretarial

ACCOUNTS PAYABLE

Drake Outsourcing Accounts Payable service delivers a number of benefits to your organisation including:

• Reduced procure to pay costs and processing time
• Improved corporate purchasing efficiency
• Reduced vendors and increased contract purchasing
• Improved purchasing processes (checking between order, receipt and invoice)
• Fast implementation
• Streamlined processes
• Increased control over your accounts payable workflow
• Reduced archiving, mailing and paper handling costs

Our Accounts Payable service is delivered via a leading technology platform to automate your payable invoice processing. Our end to end solution provides purchasing, supplier invoice processing, approval and payment functions incorporating the following features:

• Electronic invoice scanning
• Optical Character Recognition (OCR) for automatic data capture
• Purchase order matching and automatic journal posting
• Electronic invoice circulation
• Catalogue purchasing
• Requisition requesting
• Multi level workflow for requisition approval
• Order generation
• Goods receipting
• Quote management
• User-friendly, easy to use system interface
• Easy content management maintenance
• Extensive reporting functionality

DEBTOR MANAGEMENT

Drake Outsourcing provides the systems, infrastructure and resources to deliver all aspects of debtor management from credit control and collections to comprehensive debtor reporting in an efficient and cost effective manner.
Our Debtor Management solution includes:

• Improved collection rates
• Policy and process development
• Development of organisational debtor roles and responsibilities
• Transparent debtor management activities
• Clearly defined escalation points and procedures
• A consistent approach across all business service lines
• Data mining tool
• Graphical trend analysis
• Electronic distribution of information
• Management information

TAXATION PREPARATION

Drake Outsourcing provides annual accounting and taxation services including:

• Preparation and lodgement of ATO Income Tax Returns
• Preparation and lodgement of Business Activity Statements
• Preparation and lodgement of ATO Fringe Benefits Tax Returns

MANAGEMENT AND FINANCIAL ACCOUNTING

Management Accounting Reporting including:

• Detailed Profit and Loss Statements
• Budgeted Profit and Loss Statements
• Cash Flow Statements
• Statutory reporting

Annual Financial Statements including:

• Preparation of Financial Statements for all entity types
• Preparation of Financial Statements for Auditors
• Balance Sheet reconciliation and reporting

COMPANY SECRETARIAL

Drake Outsourcing attends to company secretarial matters regarding:

• Preparation and circulation of Board minutes and documents for the annual general meeting
• Recording and lodging all changes to company executives and ownership structure
• Lodging necessary Australian Securities and Investment Commission (ASIC) documents as required