Facts
The company is a fast growing Automotive Parts manufacturer and having its Headquarters in USA and operations in China, Mexico, Germany, Japan and wanted to establish an office in India. After company incorporation in India – US management was looking for a reliable partner who can help them with Accounting, Payroll and Compliance requirements at initial stage.
Solution
As a standard practice, our incubation team initially studied the business process and operational needs of the client, identified and assigned different workflows to client accounts, and further prepared a process document that highlighted gaps in the current process. The team redesigned the entire process, streamlined the approval process to ensure a quick turnaround time. This resulted in the intimely payment of invoices, keeping vendors happy, and books up to date. It also contributed to making audits less stressful.
Value that was added
Our team’s efforts and understanding of the process have helped reduce supplier statement discrepancies, improved supplier payment processing, and helped in smoothening supplier relations with an effect of enhanced efficiency of the entire Accounts Payable Process. Today, we process 40% more transactions as compared to the start and proudly contribute to their growth. We also designed Global Spend Dashboard for the management team which helps them understand the flow of expenses across different global regions and expense heads.
