A Smarter Outsourcing
CFO services reduce personnel and related costs required for current in-house processes by adding much-needed financial reporting detail and cash management helps to drive business strategy and revenue growth.
Procure to Pay (P2P)
Facilitates multi-channel introduction of invoices, data extraction, and processing, followed by seamless transfer to native ERP systems for further action
- Vendor portal
- Process automation
- Supplier communication
- Supplier satisfaction
Order to Cash (O2C)
Optimizes working capital, provides real-time visibility and end-to-end management of revenue and cash flow, and streamlines billing processes
- Customer portal
- Approval workflows
- Customer helpdesk
- Customer satisfaction
Procure to pay (P2P)
Effective AP processes enhance the working capital, and encourage long term supplier relationship management.
Our extensive experience in running procure to pay (P2P) processes for global clients enables us to identify and unlock value in a supply chain, lower costs, and build frameworks for continuous improvements. We also leverage industry-best tools and methodologies for driving standardization and transformation across procure to pay processes.
Digitizing your invoices and creating a workflow can help your business organize the flow of vendor invoices through various approval and quality check processes very easily. It also ensures the same by suggesting small technical changes in the existing system and creating a workflow with the required control points for accuracy and timeliness of the payable cycle.
We index your PO and non-PO invoices and expenses to go through the required approval authority.
Suppliers play an important role in the growth of the organization by giving their payments on time which also helps in strengthening the relationship. An invoice correctly processed leads to hassle-free clearance of payable and take discounts on early payments as well.
Our team of professionals has extensive knowledge of the Accounts Payable process that handles all kind of invoices i.e. PO based Invoice, Non-PO Invoices, Service or Material Invoice, Work Orders with a high level of accuracy on applicable taxes, helping your business to update payable in a timely manner.
Credit period is an important aspect to manage by the organization as it directly affects the cash flow in the business. On one hand, paying early gives additional discounts, thus saving money for the business, and on the other hand, paying on due dates allows the business to enjoy a complete credit period and maintain working capital available all the time.
All payments are under your control. Our team prepares an aging of payables, highlights the critical invoices, enlists the top vendors, creates a payment proposal in the ERP system, and makes it available for your approval, before submitting the payment file to the bank. Whether you pay daily or weekly, we make all the required data available for you to take a decision on your payables.
Have you wondered why your team takes a lot of time at the end of the year correcting the ledgers for nominal accounts, or any suspense account? Your inventory and payables need to be reconciled regularly so that your books are up-to-date and show true status of your ledgers. Let us help you in the best possible way.
We reconcile at the unit level of Purchase Order receiving with the invoices being sent by the vendors and report/clear any variation at frequent intervals. We coordinate with the procurement and the Accounts Payable team to take required action and float a regular MIS for you. Now you can relax on the chair at the end of the year and don’t need to chase your team for the closure of financials on time.
Are you getting statements from your top vendors? Are your payments applied to the correct invoices? Are you charged with the late fees on the statements? Do not let yourself struggle with the dispute merely due to the fact that your statements are not reconciled on time and avoid late fees.
We reconcile all vendor invoices and the payments issued to them considering all applicable discounts/returns and update the vendor periodically for any difference in the ledger. We coordinate with the vendor’s Accounts Receivable team for any required correction.
Do you have a large number of vendors? Do most of them are One Time or Frequent Suppliers? Are you concerned to have them correctly set-up in your accounting ERP system so that they are reported correctly in your returns? Hence, the correctly updated and managed vendor databases help in managing the day to day transactions smoothly as well as ensure accuracy tax ability at the end of the year.
We get the required details and tax certificates from your vendors while initial set up and keep them updated frequently year after year. We also address the vendor requests whenever they want their details updated like a change in name, tax ability, nature of business and contact information.
A dedicated AP Help desk team addresses all queries coming from your vendor. This is required so that your vendors can be heard well to strengthen the organizational relationship.
We set up a dedicated Mailbox and Desk Number so that your vendors can reach you. We log all queries received on the shared mailbox and the help desk number and address them in a sophisticated and timely manner. We also share an analysis of queries and design a solution plan so that such queries are minimized.
Order to cash (O2C)
A software-as-a-service solution to standardize the Order to Cash process in line with industry-leading practices. It helps reduce inefficiencies to improve revenues and profitability.
Transforming the Order to Cash process is a high-impact way for organizations to address competition, increase revenue and margins, reduce risk and ensure a healthy working capital. This is easier said than done as O2C operations are highly complex, involving cross-functional and multi-layered business areas that require meticulous design and change management support.
The authenticity of your cash flow completely depends on the time management and accurate billing you provide to your customer.
We do understand the functionalities and capabilities of your accounting ERP and use the best possible way to generate invoices with the relevant information for your customer.
Let’s go a step further to avoid any hassles on payments and reconcile our customers frequently. We send a statement of accounts to customer periodically to avoid delay in payments.
A past due account is not just the customer’s failure; we got to facilitate them and define a strategy to avoid these situations are avoided.
Our team discusses the statement of accounts, share aging of invoice, identifies the cause of the delay, fixes it and creates a process flow with control checks to avoid delays.
We all need correct customer data set-up so that the orders are managed effectively and in a timely manner. A correctly updated and managed customer database helps in managing day to day transactions smoothly as well as ensures accuracy in taxibility.
We get the required details and tax certificates from your customers while initial set up and keep them updated frequently year after year. We also address the customer requests whenever they want their details updated like a change in name, taxability, nature of business and contact information.
We can make an unhappy customer a happy customer by mitigating their concerns in a timely fashion.
In the event, a customer delays payment due to any lack of information/returns or breaches the terms of the contract which in turn results in no payment our team of an expert would help resolve the issue mutually and provide all required documentation/backup for clarification and rectification.
We do ensure that we have a system in place that a remittance advice is received for all customer payments. We do track all payments received in bank via ACH, wire or Check and apply them to the correct invoices.
Record to report (R2R)
Global enterprises that have multiple accounting systems often face challenges in consolidating data for reporting and analysis. Moreover, they need to ensure that the close period is synchronized across geographical boundaries and that they are also compliant with local reporting standards.
Quantazone has deep experience in managing industry-specific accounting for reporting and reconciliations. We also leverage a range of technology tools to provide automation for Record- to-Report (R2R) activities such as month-end management, reporting, journal entry workflows and reconciliation.
An efficient CFO has a job of preparing the ongoing financial reporting as the corporate demands compel the financial leaders to examine their procedures and implement broad changes by way of financial reporting. Therefore, for an organization it is imperative to have an ongoing financial reporting done by an expertise of finance which includes financial reporting, working capital, insurance requirements, and ongoing financial viability requirements, financial MIS reports, decision making etc. Thus, for an organization it is essential to have an ongoing financial reporting being conducted systematically.
MIS is an effective tool that is adopted by the managers to evaluate the business processes and operations. It also includes the visual presentation of different kinds of information relating to financial projections that are supposed to be formulated. Business managers at all levels of an organization rely on the reports that are prepared by the senior financial officers. This helps in evaluating the business’s daily activities or problems that arise, making decisions, track progress etc. It is used by all sizes of the organization as it is the most effective financial reporting.
Month end closes shall be a process of evaluation of the financial transactions along with the assessment of the same at the end of the month. It is thus a fast track mode of recording and assimilating the transactions that happened during the month.
We will be reviewing the entire records of the company; we shall be checking the Accounts reconciliation, Journal entries, Review of Expenses, Approval system, Balance sheet review.
