HTC Global Services - Financial Accounting

Financial Accounting

HTC offers a totally integrated back office solution that can help customers take complete control of Accounts Payable (AP) and Acconts Recievable (AR) functions, reduce costs, improve internal customer service and increase bottom line. HTC transforms manual and paper intensive AP operations into an end-to-end automated process utilizing state-of-the-art technology and processes. Our unique solution reduces paper documents in processing AP and can help companies generate cost savings up to 40% per invoice, with no capital investment.

Key Features

Scan and enter invoice information to meet turnaround requirements - usually within 24 to 48 hours
Convert paper based invoices and load them into customers Accounting System, for easy and timely retrieval of customer invoices
Provide real-time tracking and reporting of all payables from invoice receipt through payment
Exercise better and centralized control over payables, across geographically dispersed locations
Eliminate manual keying of index information, while retaining the ability to retrieve images using index fields
Improve document retention and real-time access

The following diagram illustrates our process:

Click here to enlarge

The Accounts Receivable service of HTC encompasses the following activities

a. Contract Management - HTC has a comprehensive contract management service that integrates seamlessly into the Accounts Receivable service offering. In this activity, the clients’ contracts are managed and utilized as inputs for periodic MIS generation as well as invoice generation.

b. Time Sheet Capture - HTC’s timesheet solution captures the timesheets of the client’s employees into the integrated system. Client’s employees, from various locations, fax or email their timesheet information to specified fax numbers/ mail ids. This information is collated, sent for approval to the respective approving authorities and utilized as inputs for invoice generation.

c. Invoice Generation - Based on the timesheets and the contracts, the invoices are generated on behalf of the client and mailed to the companies.

d. Payment Follow-up - Based on the payment terms and any grace periods, HTC’s receivables personnel call the clients payables contacts for payments. HTC would call only those clients who are not in the ‘No Call’ list.

e. Receipt Accounting - Once the payment is received (either at HTC’s mailbox or at the client’s premises) the payment is accounted in the client’s accounting system.

Value to Customer

HTC’s Financial Accounting system offers the following benefits:

Reduced operating costs with automated financial accounting processes
Productivity and collaboration across the firm facilitated by an integrated view of the accounting systems and processes
Cash management capabilities to forecast future cash flow, plan financing of these requirements, and minimize unnecessary cash on hand
Streamlined financial processes, creating a less-paper work environment, and ensuring better profitability for organizations
Accurate data made available on-the-fly, for analysis and decision support
Support for global business requirements with multi-currency and inter-company transaction processing
Seamless integration with other existing systems of the organization