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Accounts Payable, Alternative Asset Management

Transformed the Accounts Payable processes by optimizing working capital & operating costs with standardization realizing bottom-line savings, greater control, and transparency.

Client

US based multi-strategy alternative investment management firm

Industry

Alternative Asset Management

Location

Los Angeles, California

Engagement Details

Service Type: Accounts Payable

Model: Offshore

Business Needs

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

Challenges representation Icon

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.

Get ready to transform your business.