Organizations today seek Finance and Accounting services that help enhance scalability, increase workforce productivity, and reduce operating costs.

These organization are incorporating Finance & Accounting outsourcing in their operating model as a strategy to

• Reduce cost pressures
• Comply with stringent regulatory norms
• Align closely with business demands

Our transformation-led Finance and Accounting Services are designed to support the client by establishing compliance and controls, balancing expense vs. growth, reducing the cash cycle and maximizing return on investment (ROI).

Our services are aimed at reducing process delivery cost, standardizing and automating F & A processes and enabling greater efficiency and enhanced productivity. In order to provide this we have

• Skilled Resource Pool – (Accounting Graduates, CA, CIMA. and MBA (Finance))
• Platform experience (SAP)
• Robust IT infrastructure

NIIT BPO offers an entire spectrum of F & A business processes, namely, Order To Cash (O2C), Procure To Pay (P2P), Record To Report (R2R) & Hire To Retire (H2R). NIIT F & A process portfolio comprises of :

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Scale of our F&A operations

• For a UK Travel client, NIIT supports end to end Account Payable and Account Receivables across 1,300 suppliers. NIIT processes 1.3 Million invoices per annum and collect payments of more than £ 30 Mn per annum
• For one of the UK’s largest Financial services client NIIT offers end to end F & A services handling a transaction volume of over 70,000 per annum
• For a Logistics client, NIIT does freight invoice auditing of over 75,000 invoices per annum
• For a Media client, NIIT supports their end to end F & A Processes supporting a user base of over 45,000 and processing 300,000 invoices per annum. The F & A services including Procure to Pay , Order to Cash, Record to Report are provided in SAP Platform.
• For a UK based Airline, NIIT supported more than 6,200 suppliers across Europe in multiple European currencies and processed more than 125,000 invoices per annum

Some of the key benefits we offer & have delivered to our clients include:

Cost reduction of 30-40% by consolidation and creation of Shared Services through a service delivery ecosystem consisting of

• Robust Service level management Framework
• Integrated metrics dashboard reporting using our proprietary tools - TermsMonitor® & K-Portal®
• Process audit mechanism
• Customer satisfaction measurement and management
• Clearly defined escalation mechanism and transparent communication framework

Productivity and efficiency improvements by building a continuous process improvement roadmap

• Our services have been instrumental in enhancing F & A process productivity of a leading UK-based OTA by more than 40%, through cross utilization of team members and streamlining of processes.
• We were able to enhance productivity of Accounts Payable process, for a leading low cost carrier in UK, by about 30%.

Ability to deal with volume fluctuations through cross training

• Peak season spikes (40%) in invoice processing handled smoothly for a leading UK-based OTA
• Effective handing of spikes in both front & back office work: 25-30% more invoices were processed for 2-3 months in FY 2010 without increasing the team size for a leading low cost carrier in UK

Reduced Turn Around Time (TAT) and Accuracy of Processing (up to 99%)

Improved Process visibility by implementation of NIIT’s reporting tools and dashboards

Onshore delivery support by experienced professional handling all the complexities of your business

Effective risk management: Transition and steady-state operations

Reduction in overall cost base over the term of the engagement