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Accounts Payables Management for a Global Top 5 Pharma Company

Accounts Payables Management for a Global Top 5 Pharma Company

Client Information

A large U.S. pharmaceutical company involved in the discovery, development, manufacturing and marketing of a broad range of innovative products to improve human and animal health.

Business Challenges

  • Disintegrated finance and accounting processes
  • Need for a centralized team to handle VAT complexities and procedures across different states and countries
  • SOX and audit compliance
  • Multi-lingual processes; accessing applications and processing invoices in native languages

HCL Solution

  • Standardized processes across the EMEA region
  • Enabled on time periodic closing
  • Streamlined scanning and indexing activities, to eliminate data loss
  • Deployed point solutions to automate process steps that are prone to human errors

Value Delivered

  • 20% reduction in FTEs required
  • Reduced invoice processing TAT from 2.5 days to 6 hours
  • 99.99% accuracy on critical quality parameters; 99.87% on non-critical quality parameters
  • Error-free internal and external audits
  • Scored 7 out of 7 in client satisfaction

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