The Numbers That Matter
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98%
Accuracy & Timeliness
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10 Days
Month-End Cosure
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97%
Vendor Satisfaction Rate
About The Client
A leading US-based organization operating in consumer health services. The company executes million dollars payments and receipts every month. Our scope of services covered end-to-end accounting for general ledger, accounts payable and receivable operations. We also provided solutions to improve reconciliations, clearances, and month-end closures.
Problem
The inadequacies of ERP migration resulted in several major issues, including multi-million-dollar worth of unreconciled and unapplied payments and receipts, as well as unreconciled clearing accounts. Improper general ledger categorization, data recording lags, and discrepancies in tax return information were also bottlenecks that needed to be addressed to bring about the desired process improvements.
Solution
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Processs-Wise Resolution We created sub-teams to address various process-wise issues. Additionally, we developed process documentation to emphasize and institutionalize the proposed steps.
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Vendor Data Sorting Key solutions implemented include vendor data organization, manual adjustments, AP/AR reconciliations, CoA structure redesign, etc.
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Daily POS Reporting Ensured accurate and regular daily POS reporting. Plus, seamless synchronization with the new ERP system.
What Our Client Says
We had significant unreconciled accounts. They cleaned up our books, cleared outstanding accounts, reducing the closure period. They’re now an invaluable extension of our finance department.
Head of Finance,
Healthcare Services Firm