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Finance & Accounting Shared Services

Reinventing Finance & Accounting with Intelligent Operations

Overview

Finance and Accounting is the connection between your organization’s long-term strategy and its success. Now, more than ever, organizations that use digitization across finance function and build new capabilities at scale are gaining competitive advantage.

 

Realize the full value of digital finance operations, reduce operating costs and reimagine finance processes with intelligent finance and accounting operations offering by Conneqt.

 

We take innovative approach to transform, modernize, and run your Finance and Accounting processes.

 

We redesign your processes to deliver an end-to-end strategy that covers the complete Finance and Accounting processes. We offer vertical-agnostic Master Data to Pay, Accounts Receivables, Record to Report, Direct and In-direct Tax, Financial Planning and Analysis services.

 

Conneqt delivers best-in-class next-gen innovative offerings that leverage automation and analytics through digitally enabled actionable insights. We are leaders in boosting workforce productivity, the best place to work in driving continuous process efficiencies thus proving a wide array of solutions to automate and enhance processes across all F&A operations.

Offerings

We deliver with unparalleled focus on your core finance operations with a consultative approach, best practices with technological interventions to help stakeholders monitor and maintain the financial health of the organization. We bring future-ready approach through a flexible operating model.

 

Services that power Intelligent Finance and Accounting Intelligent Operations:

Conneqt helps in standardization, harmonization and consolidation of Finance and Accounting business processes to extract higher efficiencies from operations.

 

We use intelligent diagnostics to assess current systems, processes, data, and underlying architecture resulting in:

  • End-to-End Process Visibility
  • Process Standardization
  • Process Harmonization

Benefits

  • Automate and monitor end-to-end processes locally
  • Real-time process analytics and enhancements of a production process
  • Centrally catalogued processes for easy access and retrieval
  • Transparency, Insights, Real-time control and Adherence Checks

Transform your Master Data to Pay function through our innovative approach that helps in streamlining, automating while reducing costs, managing risks, ensuring compliance and agility.

 

We continually enhance our value proposition by partnering with leading technology vendors and start-ups. We have a factory of Master Data to Pay experts who enable sourcing function to become predictive, transactional procurement to become automated and vendor risk management to become proactive:

  • We modernize Master Data – find, prepare, cleanse, enrich, master and govern
  • We categorize and manage spend real time and predict future demand
  • We execute strategic sourcing projects
  • We eliminate repetitive processing through robotic process automation
  • We digitize catalogues, execute purchase orders and process payments
  • We manage your tail spend

 

Benefits to Clients

  • 2-3% increase in savings across both your direct and in-direct spend
  • 40%+ Productivity benefits
  • 100% of Spend Under Management
  • 70%+ of spend under catalogs
  • Decrease in Non-PO
  • Increase in Invoice Posting on Time, Payment on Time, Invoice Processing Accuracy
  • Adherence to Contract and PO pricing

Transform your accounts receivables organization through streamlined operations, standardized workflows and processes that drive growth, agility, and compliance. We help enterprises improve collections, deduction management, rethink credit strategies, and gain visibility into their cash conversion cycle to build resilience and foster growth.

 

Our experts work with clients across Accounts Receivable activities including Receipt Booking and Application, Payment Receipt clarification for ‘on-account’ & ‘unidentified’ receipt, ‘AR-GL’ and ‘AP-AR Reconciliation’, Credit, Cash, Collections, Billing.  

 

Benefits to Clients:

  • 30%+ productivity
  • Increase in % of auto-matched remittances
  • Increase in % of remittances accurately matched
  • Decrease in % of unapplied cash to total Cash
  • Reduction in Cycle time for month-end close
  • Reduction in DSO

We fasten your closing process by reducing time-consuming and labour-intensive activities in a centralized and integrated system landscape. We reduce data inconsistencies and move towards a robust Record to Report process.

 

Our experts work across journal entry posting, accrual creation, GL reclass postings, reporting, fixed assets, inventory accounting, payroll accounting and statutory accounting.  

 

We are focussed on close adherence, accuracy/timelines and user experience across your Record to Report process.

 

Benefits to Clients

  • Increase in efficiency leading to enhanced quality
  • Reduce manual processes and increase levels of automations
  • Increased operational efficiencies
  • Automated processes with integration of multiple systems
  • 100% accuracy of reconciliations
  • 100% adherence to fixed assets processing timelines
  • 100% adherence – monthly, quarterly, and yearly close
  • 100% accuracy of the period-end close process

We provide customized tax preparation methodologies that safeguards compliance along with regulatory requirements allowing the organizations to benefit from better refunds and lesser tax liabilities.

 

We reshape our customer’s tax function to bring in best practices, compliance adherence and automation across both direct and in-direct tax.

 

Benefits to Clients

  • 100% accuracy
  • 30% + productivity
  • 100%-line items are included in the original TDS return filing
  • 100% adherence to tax due date
  • Zero default generation on processing of TDS returns
  • 100% TDS deposited in the same month

With time, forecast frequency increased and is expected to remain at this level. This requires efficient process execution, streamlined management of data, people and processes. We bring in a data-centric approach to your Financial Planning and Analysis and at the same time improve adoption of advanced tools.

 

Benefits to Clients

  • Reduction in time taken to create a forecast
  • Automation across data gathering and data preparation
  • Automated dashboarding and predictive modelling
  • 30% + productivity

Case Studies

Conneqt Advantage

We provide enhanced Shared services experience in a cost-effective, Future-Ready business ecosystem resulting in significant efficiencies

Deep domain expertise and best of industry practices – resulting in faster and efficient straight-through processing and quality exception management.

Conneqt’s digital Ecosystem of Document management, workflow to Reports & Analytics, is designed to leverage the optimum output. We work closely with the clients to identify their current position and design the future strategy with guaranteed outcomes and end-to-end implementation.

Stringent SLA and governance mechanisms that have resulted in passing Y-O-Y benefits to clients.

We use a high level of automation and advanced technology to deliver a scalable & future-ready business model resulting in a significant reduction of manpower requirement

Our Partners