Case Study on Flatworld's Accounts Payable Services
A US-based e-logistics / transportation management services provider, with a customer base of 2500 customers and with 100,000 trucks, was looking for a vendor that could process its transaction documents in a cost-effective manner.
A robust cash flow system had to be set up for the customer in order to regulate the processing of the customer's transaction documents (invoice proof of delivery, bill of lading, etc.). The most challenging task was to process the document on the same day and process the payment on the following day.
The Flatworld Solutions' team of trained and experienced accounting professionals studied the customer's business process and the operational needs of the process. The team identified the different types of paperwork involved in the whole process and listed the different kinds of transactions. Based on the type of transaction, all the key information related to a transaction was recorded. This helped in reducing additional costs related to the process. A detailed process document was developed by Flatworld's team, which explained the classification of each transaction, along with the related documents.
The primary task of reducing the high number of escalations was achieved, thanks to the outstanding way of managing customer queries, by Flatworld's team. Besides, the suggestions offered by Flatworld to improve client relationships proved to be successful for the customer.
- The payment cycle and delivery reception process improved drastically due to the speedy processing of documents.
- The customer's operational costs were reduced to a great extent by opting for Flatworld's offshore services.
- Flatworld capitalized on the difference between the time zones of the two countries - India and the USA - to successfully process all the necessary transactions before the next business day.
- The customer saved time on re-processing transactions and on exception processing
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