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

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.