What we did:
- Standard document for indent to payment was created.
- All steps defined with clear responsibility such as Indent- PO- GRN- Quality check – Invoice – Reconciliation – Payment was prepared
- All vendor master were checked and we also identified invoice and other related document collection points and the due dates
- Vendor creation time reduced from 48 days to 18 days
- Invoice payment cycle improved from delay of 32 days to on time
- All compliances related to tax were sensitized and complied with
- Established AP processes & policies and aligned with Global Policy Standards;
- Implemented accounts, finance and compliance division.