Finance and Accounting (FnA) Services

Empowering the CFOs

Businesses are expanding on every front, and there is more pressure on chief finance officers (CFOs) than ever to ensure all transactions are sustainable and profitable. To achieve this, the CFO’s office must embrace its share of transformation. A CFO office must have real-time capabilities to process huge amounts of data, derive insights, and make smart decisions.More

Businesses are expanding on every front, and there is more pressure on chief finance officers (CFOs) than ever to ensure all transactions are sustainable and profitable. To achieve this, the CFO’s office must embrace its share of transformation. A CFO office must have real-time capabilities to process huge amounts of data, derive insights, and make smart decisions. TechM BPS’ FnA services, powered by artificial intelligence and machine learning, empower CFOs with the right digital tools, making finance operations more efficient, transparent, and compliant.

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Our Approach

We transform processes to harmonize activities, simplify steps, and create ‘touch-free’ process flows. The 4-step transformation approach begins with ‘discovery’ which involves identifying functional areas, such as Invoices to pay, Orders to cash, and Record to report. Next, we analyze or build the transformation roadmap to choose the correct lever (process redesign, process reimagining, process automation, or leverage existing platform) for transformation. We then assess and select the best technical tools for implementing the roadmap. The last and final step is to execute the transformation strategy and deliver tangible and intangible customer benefits.

Solution Highlights

Invoice To Pay

End-to-end invoicing allowing firms to move from erroneous and time-consuming manual processes to digitally transformed operations.

  • Vendor master
  • Invoice processing
  • Duplicate audit
  • Travel and expenses
  • Payment run
  • Vendor reconciliations
  • Accounts payable helpdesk
  • AceFin reporting and analytics

Improvement In:

DPO, PO penetration, E-invoicing, invoice receipt and processing time, duplicate payments

Order to Cash

Comprehensive cloud-based solutions to streamline the entirety of order to cash operations for improved account receivables.

  • Customer master
  • Credit evaluation
  • Order management
  • Invoicing and billing
  • Collections
  • Cash applications
  • Query management
  • AceFin reporting and analytics

Improvement In:

Automation percentage of billing and cash apps, collections, DSO, un-applied cash, revenue leakage

Record to Report

Leveraging AI/ML, analytics and automation to process data in real-time and generate visually insightful reports for record keeping and decision making.

  • General ledger master
  • Journals posting
  • Fixed assets
  • Intercompany
  • Books closure
  • Reconciliations
  • Financial planning and analysis
  • Review and report financials

Improvement In:

Automation percentage of journals and reconciliations, number of days close and open items, manual reporting

 

Transformation Benefits

Efficiency

  • 35-45% productivity gains over 3-5 years
  • 80-90% harmonized, straight-through processing

Controls

  • >95% adherence to policies and controls
  • Reduction in duplicate/fraud transactions

Value

  • 30-45% reduction in operating costs for the finance function
  • Significant decrease in asset, licensing, and modernization costs

Explore More

Business Process-as-a-Service (BPaaS)

Manufacturing

Hi-Tech

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