HCL Technologies
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