Streamlined finance and accounting operations for a global healthcare enterprise | HCLTech

Streamlined finance and accounting operations for a global healthcare enterprise

Revitalizing financial excellence for a global blood and plasma leader: HCLTech's innovative solutions reshaped financial health, optimized efficiency and achieved substantial cost reduction.
2 min 30 sec read
2 min 30 sec read

Our client is a global leader in blood and plasma management solutions with roots dating back to the 1970s and a presence in more than 16 countries. In their pursuit of operational excellence, they embarked on a quest for a strategic partner to manage services spanning North America, EMEA and ANZ regions. HCLTech took the helm in this journey, offering innovative, out-of-the-box solutions, challenging the traditional delivery model by moving processes to India and extending support in multiple languages.

The Challenge

In pursuit of operational excellence, our client faced a complex landscape with several formidable challenges. These challenges called for innovative solutions, streamlining processes and optimizing financial operations. The key challenges included:

  • Decentralized operations
  • Revenue optimization concerns
  • High back-office operational costs
  • Lack of process standardization and automation
  • High turnaround times
  • Quality and timely deliverables
  • Improve control over operating cash flows

The Objective

The partnership was driven by clear objectives. These objectives were not just milestones but guiding stars in a transformative journey. HCLTech sought to establish end-to-end ownership of operations, fostering process standardization, consolidating disparate geographical deliverables into a centralized location and achieving substantial improvements in operational metrics.


The Solution

In response to the multifaceted challenges presented, a comprehensive set of solutions was crafted to revolutionize our client’s financial landscape. These solutions spanned technology adoption, process standardization, operational optimization and more.

  • Reconciliation accuracy improved by process standardization, calibration between reconciler and reviewer, documentation of process exceptions, creation of golden process maps and weekly governance.
  • Created SQL queries and business intelligence reports (OTBI – Oracle Transactional Business Intelligence) to automate reconciliations and Financial Planning and Reporting.
  • DSO optimization by introducing weekly governance, a target-driven model for agents, an escalation matrix for top offenders and customer behavior analysis.
  • Geo rebalancing leveraging a team of approximately 60 steady state F&A full-time employees supporting multiple languages in the US, EMEA and ANZ regions.
  • Increasing immediate payment terms to net-five for high-valued suppliers.
  • Working capital improved by optimizing payment terms for high-valued suppliers
  • Tools deployed: Kofax (OCR tool), Concur, Cadency, Agile, GHX, DNBI, Esker, Hyperion and many more.

The Impact

The transformative journey undertaken by HCLTech and the client resulted in a profound impact on financial health, operational efficiency and customer experiences.


Reconciliation accuracy


Improvement in accounts payable ‘paid-on-time’ metric


Working capital benefit


Improvement in discount capture rate


Early payment discount

15 days

Reduction in DSO


Accuracy in sub-ledger closure