Accounts Payable Outsourcing

ACCRUALS – As part of the accounting cycle, we provide services in the areas of accruals, through generation of timely and accurate provisions for the various expenses that flow through our processing cycle. The accruals are managed in a systematic manner based on agreed rules to eliminate errors and incorrect bookings.

CONCURRENT AUDIT / CONTINUOUS TRANSACTION MONITORING (CTM) – We have been providing concurrent audit services to many large clients on the data that flows through the AP process cycle. This helps prevent and eliminate possible wrong payments and/or duplicate payments. This is an automated process using state of the art tools with a dedicated and trained team of professionals experienced in providing this service to many FMCG customers.

STATEMENT AND REMINDER PROCESSING – As part of our efforts to provide end-to end service in the P2P process; we undertake the activity of sending out customer confirmation statements reminders and the related follow-up activities.

MASTER DATA MANAGEMENT

VENDOR MASTER MANAGEMENT - We undertake vendor master management providing accurate and timely updation of vendor masters in the client ERP; Basic duplicate checks are embedded as part of the process; robust controls are inbuilt into the master modification process to ensure that the vendor master creation/modification is error free.

TAX MASTER MAINTENANCE - Timely updation of income tax rates, maintenance of information relating to TDS and provision of MIS for the preparation of quarterly filing of returns are part of our suite of statutory services.

DATA HYGIENE AND CLEANSING - As part of routines, we undertake periodic review of vendor masters; provide actionable MIS and help maintain the master database up to date.

HELPDESK SERVICES

VENDOR HELPDESK - This service is typically provided in the area of AP process as an add-on service; the queries and clarifications on the payments, deductions and timeliness are normally addressed in the AP vendor helpdesk. This process is handled by an exclusive team who is provided with a query tracking tool to record queries. The team is trained in FAQs and phone call etiquettes. .

AP REPORTING- MIS reports and analytics on AP process is generated and shared with the clients as part of the Monthly Review Process. Actionable dashboards through in house portals are part of our specialized offerings.

RECONCILIATIONS

VENDOR RECONCILIATION - As part of our accounting services, we perform reconciliations of the vendor accounts. This is performed using computing tools to sift the huge volume of data. The reconciliation is shared with the client with item level explanations for mismatches. The same is then taken up with the respective vendor and followed up for closure.

BANK RECONCILIATION- The hygiene of the accounting system is reflected in the efficiency and timeliness of performing basic reconciliations. Bank reconciliation as a key control tool helps identify the lacunae in any of the processes which impact the banking process. We perform bank reconciliations with the help of certain automation tools. We further partner with the client and help them set up automatic bank reconciliations that are available as a feature in many ERP packages. The availability of our in-house IT team ensures that we provide the basic tools for conversion of data from external banking system to suit the customer ERP