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How can RPA streamline accounts payable process with a seventy-five per cent ...Maruti Techlabs
Our client’s AP team receives thousands of invoices every month from different suppliers & vendors - each with a unique format.
A #team of 7 FTEs was fully involved in manually processing all 4000+ invoices monthly. Each #employee would spend close to 3 minutes to go through each invoice.
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@MarutiTechlabs #automation experts ideated an RPA solution to automate the entire invoice validation process to address this challenge.
The company achieved its goals of automating accounts payable in less than 8 weeks & increased the operation's efficiency by 75%.
Let us have a look at a detailed #casestudy on how RPA streamlines Accounts Payable process with $75,000 in annual savings.
Learn about the benefits of using Commercial Investigation's Portal & Electronic Consent form for more convenience in processing your background check requests.
Billing, Coding and AR Management services from Quintessence. We are more than your regular cost saving global delivery vendor. We are a process designing, technology deploying, outcome guaranteeing, risk sharing partner.
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2. ‘Must a name mean something?’
Alice asked doubtfully [Lewis Carroll – Alice in Wonderland]
At Access Financial we think so.
2
3. Help define the term
COMPLIANCE in
conjunction with our
clients
Create a set of
COMPLIANCE rules that
the parties both accept
Develop an innovative
COMPLIANCE system
that shares that
definition; tracks
its fulfilment and
provides that real-
time information to our
clients’ desktops
We decided to use the latest web technology to:
The most problematic word in our niche business
of international workforce management solutions is
unquestionably COMPLIANCE.
3
4. We decided to start by defining what we mean in
principle by COMPLIANCE:
• real (and not apparent) observance of laws relating to
• taxation;
• social security;
• immigration;
• labour-leasing and
• employment law
• principally (but not solely) in the country of working
• in the country where the contractor is ordinarily
resident
• in the country where the recruitment business is
based.
COMPLIANCE must balance the competing
claims of:
• High retentions
• COMPLIANCE with law in the agencies’ own
jurisdictions
• Low fees
• COMPLIANCE with the laws in the work country
• Minimal effort required on the part of the Contractor
• Minimisation of both financial and reputational risks
Here is an example of an agreed set of
COMPLIANCE rules:
The keyword throughout is to be utterly transparent in
what is being offered and delivered. We believe this is
innovation in our industry.
4
5. Once we have agreed the COMPLIANCE criteria with our clients
we transform them into a series of rules for both process and
document control. Here is an example:
We then provide web access to our ERP platform to our clients
who can track the COMPLIANCE process for their contractors at
any stage.
Work permit and other immigration progress can also be viewed
under the Work Permit tab.
The technology to do this was .NET 3.5, C#, ASP.NET, XML,
AJAX and Java script. The development work has taken us six
months for an in-house team of three programmers. Upgrade
work is being done continuously.
Results
The results are best assessed in the case studies below. Those
clients who have seen and used Access.com have appreciated
the elegance, transparency and partnership involvement that
they have decided that this is the way forward for controlling their
cross-border COMPLIANCE risk.
Return on Investment
The return on investment is too early to quantify but management
feels that a return of 60-100% per annum on the investment is
easily achievable gained by:
• Increased volumes from existing clients
• New clients attracted by the innovation
• Cost savings to AF by instant notifications and a
process that is event driven rather than reliant on
individual memory
• Client expectations met consistently
Our objectives, Outcome; Results; Initial Investment,
Sales Achieved and Return on Investment
5
6. Alexander Mann Solutions is a leading
provider of RPO and Managed Services
solutions to the corporate market. Our
clients are increasingly requesting
resourcing solutions on an international
basis. This provides us with various
challenges, not least in providing
compliant solutions on a consistent
basis across a number of countries. The
introduction to the real time portal from
Access Financial Services was therefore
a most welcome initiative. As one of
our suppliers for contract management
services, Access Financial is now able
through Access.com, to provide us directly
with access to the real time COMPLIANCE
status of each of our contractors under
management with them. This is a huge
benefit to us and to our end clients. The
ability to track the status of work permit
applications and end dates, again in real
time, is also extremely useful. We welcome
this application from Access Financial and
I am confident that its use will increasingly
become part of the way we do business
going forward.
John Kirtley
Supplier Relationship Manager
Alexander Mann Solutions
Brookson Limited is a leading provider
of accountancy, tax advice and support
services to freelance contractors and
individuals who work in business for
themselves. For our contractors working
on overseas assignments we work
in partnership with Access Financial
Services. It is of real value to us to be able
to track our contractors’ compliance and
contract status through, Access.com. We
very much look forward the launch of the
version for Partners.
Matthew Fryer
Tax Manager
Brookson Limited
Elan IT part of the Manpower Group,
are Europe’s leading provider of IT
Recruitment and sourcing solutions. We
have partnered with Access.com where
clients have requested support outside
of our key operating areas. We have
been impressed with the information
provided to our contractors via Access.
com to both ensure that our contractors
are fully compliant in the countries they
are operating in and offer them a high
quality of service. Elan is also able to
track timesheets, contractor payments,
insurances and work permits to ensure the
contractor is fully supported. Access.com
is indeed a very innovative application
that not only complements Elan’s internal
back office outside of our core operating
geographies but provides our sales,
administration and finance personnel
with helpful information on all aspects of
contractor management.
Mike McGinty
Operating Board Director
DACH, Elan IT
How Access.com innovation has benefitted clients/users
and its impact on the professional staffing sector. Three
examples of how our innovation has been used by our
clients. This is what they said;
6
7. SUMMARY Access.com provides benefits to the Contracts and
Compliance teams within agencies to track compliance status and
produce compliance reports for end-users. It is used by the finance
teams to track contractor payments, invoices and timesheets.
It is used by the Sales teams to research solutions and submit
referrals. End clients can benefit from real time compliance status
reports on their contractors. It saves time on contractor queries
and cuts administration costs. Access.com is a “First” in the field of
International contractor management and sets the service standard
for others to emulate.
7