Finance & Accounting Services
In any service universe, clients form partnerships with multiple vendors, distributors and enablers who support the client in delivering optimal services to the customers. Ensuring these links perform optimally requires active management and innovation of business processes. Partnering with a dedicated and capable service provider for Finance & Accounting functions can enable organizations to achieve best in class performance while focusing on service delivery.
Intelenet® has been managing and re-engineering F&A services for clients across industries for years, building domain expertise and a highly skilled workforce to deliver transformational change and help CFO�s achieve best in class practices and performance.
Automating manual processes
Intelenet® deployed lean methodology and robotics to simplify process workflow, reduce manual steps involved in contract rate disagreement, missing payments, remittance advice and general information queues, thus automating vendor helpdesk inturn resulting in improved productivity.
Finance & Accounting functions need to be well administered to ensure vendor networks proliferate, and service commitment is maintained. Intelenet® supports this function by leveraging our people, processes and tools to ensure productive and cost effective resource utilization.
Procure to Pay and T&ECapabilitiesProof pointsInvoice receipt and matching, Resolving unmatched items, Vendors query management, Purchase order amendments, Travel & Expenses claims
- 49% reduction of queries on T&E and Vendor invoices
- Denial of T&E claims reduced to 9%
Order to CashInvoicing & billing administration, Debt chase & collections, Cash application, Customer query resolution, Credit notes processing
- Reduction in DSO for Travel Intermediary from 61 days to 54 days
- Query resolution TAT reduced from 10 days to < 5 days
Record to ReportJournal processing, Bank & GL reconciliation, Management & statutory reporting, Balance sheet schedules, Fixed assets and intercompany
- Deployed in-house tool which reduced reconciliation TAT from 5 days to 1 day, in-turn reducing headcount by 80%
- Processing documents at an accuracy of 99% resulting in improved audit ratings
PayrollPayroll processing, Statutory compliance, Tax filing
- Mapped process and moved payroll interface forward through upstream efficiencies across HR & Payroll process, thus improved close cycle by 2 days
Decision Support and FP&ABudgeting and forecasting, Product and channel profitability, Flash reports, P&L/ Cash flow analysis
- Improved FPR from 78% to 86%
- 94% invoices processed within 2.3 days
Risk ManagementProcess design review, SOX/Internal controls, Risk and control metric, Access controls, IT controls
- Assessed and fixed upstream process to deliver 30% cost savings within reporting space
Our solutions leverage over 4,900+ workforce experienced Finance & Accounting procedures, compliances and regulations across US, UK, EU, Middle East and India regions.
All processes are strengthened with Lean, Six Sigma & transformation capabilities, as well as supported by over 50+ tools spanning finance & accounting lifecycle.