Finance and Accounting Outsourcing Service Provider across
In general Using Headway BPO Solutions as a strategic Outsourcing partner for the purpose of Finance and Accounting services. Particularly Headway provides you with the expertise and useful, Truly accurate financial and accounting information to help run your business. As our services include Account Payables Process, Account Receivables Process, Bank, Land, Vendor and other Reconciliation reports as well as Domestic and International Taxes compilations and reports. Above all this included with an MIS Dashboard to know where you are heading with the business relationship.
Moreover, in case of any service providing clients form partnerships with multiple vendors, distributors and enablers who support the client in delivering optimal services to the customers. Certainly ensuring these links perform optimally requires active management and innovation of business processes. In general 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.
In fact Headway BPO Solutions has been managing and re-engineering F&A services for clients across industries for years. Accordingly building domain expertise and a highly skilled workforce to deliver transformation with change and help CFO’s achieve best in class practices and performance.
Automating Manual Processes
generally Headway BPO Solutions 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, in turn, resulting in improved productivity.
In general Finance & Accounting functions need to be well administered to ensure vendor networks proliferate, and service commitment is maintained. Especially Headway BPO Solutions supports this function by leveraging our people, processes and tools to ensure productive and cost-effective resource utilization.
Procure to Pay and T&E
During Invoice receipt and matching, Resolving unmatched items, Vendors query management, Purchase order amendments, Travel & Expenses claims
consequently 35% reduction of queries on T&E and Vendor invoices Denial of T&E claims reduced to 3%
Order to Cash
During Invoicing & billing administration, Debt chase & collections, Cash application, Customer query resolution & Credit notes processing
consequently Reduction in Invoicing Process for Travel Intermediary from 30 days to 2 days
Query resolution TAT reduced from 8 days to < 2 days
Record to Report
During Journal processing, Bank and GL reconciliation, Management and statutory reporting, Balance sheet schedules & Fixed assets and inter-company
consequently Deployed in-house tool which reduced reconciliation TAT from 8 days to 3 day, in-turn reducing headcount by 50%
Processing documents at an accuracy of 99% resulting in improved audit ratings
During Payroll processing, Statutory compliance & Tax filing
consequently Mapped process and moved payroll interface forward through upstream efficiencies across HR & Payroll process, thus improved close cycle by 3 days
Decision Support and FP&A
During Budgeting and forecasting, Product and channel profitability, Flash reports & P&L/ Cash flow analysis
consequently Improved FPR from 98% to 90%
85% invoices processed within 3 days
During Process design review, SOX/Internal controls, Risk and control metric, Access controls & IT controls
consequently The assessed and fixed upstream process to deliver 10%-30% cost savings within reporting space
Our solutions leverage over 50+ 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 10+ tools spanning finance & accounting lifecycle.
Financial Services and Accounts Overall Scope below
– BPO / KPOs
– Financial Data
– Management Information System
– Accounts Payable
– Accounts Receivable
– Bank Statement & Reconciliation