Overview
A luxury electric vehicle manufacturer headquartered in California is driven by a mission to inspire the shift to sustainable energy. It designs advanced EVs that seamlessly blend innovation, technology, and performance. With operations spanning across North America, Europe, and the Middle East, the company collaborates with EV charging networks, battery suppliers, and autonomous technology partners to build a robust and future-ready ecosystem.
The Objective
To support its rapid growth and global ambitions, a leading luxury EV manufacturer initiated a transformation of its finance and accounting landscape. The goal was to streamline operations, strengthen compliance, and integrate AI-driven capabilities to future-proof the organization and enable seamless scalability.
- Streamline end-to-end finance operations — covering accounts payable and receivable, procurement, and compliance
- Enhance productivity, accuracy, and readiness for regulatory requirements
- Implement AI-led solutions to prevent duplicate payments and mitigate financial risk
- Enable scalability following a public listing via a Special Purpose Acquisition Company (SPAC) and during accelerated global expansion
The Challenge
As the company accelerated its growth in the electric vehicle (EV) sector, its finance and accounting operations faced mounting challenges. Legacy inefficiencies and fragmented systems introduced significant risks to scalability, compliance, and operational transparency.
- Over 6,000 invoices were overdue, with no standardized processing system in place
- Weak internal controls and minimal automation made compliance and audit readiness difficult
- No mechanisms existed to prevent duplicate payments or tax overpayments
- Disconnected ERP and finance systems limited visibility across processes
The Solution
Deploying digital process operations and AI-led automation for measurable impact.
- Finance and accounting digital process operations
- HCLTech’s DPO team took ownership of accounts payable, accounts receivable, travel and expense, compliance and procurement processes under the digital process operations scope
- Audited past financial transactions to spot and recover overpayments
- AI-led automation and controls
- Developed an AI-powered duplicate payment check engine to stop future payment errors
- Integrated automation tools for invoice processing and risk flagging
- Built AI-led risk and compliance mechanisms for sustainable controls
- Deployed intelligent risk management tools to strengthen internal controls and ensure long-term compliance
- Enabled proactive governance through AI-based monitoring and audit readiness systems
The Impact
A leading luxury EV manufacturer’s finance transformation delivered tangible results across operational efficiency, cost recovery and governance.
- Cleared backlog of 6,000 invoices, improving supplier satisfaction and cash flow
- Achieved $38M+ in cost recoveries (tax refunds and duplicate payments)
- Improved productivity by 35% across finance operations
- Strengthened CFO-level confidence in operational governance after the SPAC merger
