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Efficient Accounts Payable with Bottom-Line Savings, Greater Control & Transparency

We streamlined their global accounts payable by centralizing invoice handling and vendor payments to reduce duplication and improve control.

the client

A US-based alternative investment firm managing multi-strategy portfolios across global markets.

Los Angeles, California

Industry

Alternative Asset Management

Engagement Details

  • Project name: Global AP Centralization
  • Service Type: Accounts Payable
  • Model: Offshore
  • Complexity: Medium

Technology Stack

  • Microsoft Outlook
  • Excel Macros
  • Document Management Systems

Business Needs

  •  Centralize all vendor inquiries.
  • Invoice Processing and vendor management.
  • To setup up a centralized vendor payment process across different geographies.

Challenges

  • Duplication of invoices.
  • Different modes of receiving and tracking invoices globally.
  • Understanding taxes of different countries and allocating accordingly.
  • Exceptions to consider while coding the invoices and expenses.

Solutions

  •  Implementation of mailbox ticketing system to centralize all vendor inquiries.
  • Country-wise Scanning & indexing of invoices, approvals, and application of respective tax regimes.
  • Established payment integration across operating bank accounts.
  • In-depth auditing of the invoices, time, and expense reports.
  • Implemented methods to prevent duplication.

Results

  • Eliminated paperwork.
  • Centralized the process for scanning and indexing global invoices.
  • Reduced payment processing time by 50%.
  • Streamlined ticketing types and formulated SLA process.