Record to Report

Overview

CFOs often struggle to improve their organization’s ability to deliver better information, faster reporting,
more time for data analysis, and tighter controls. Delay in recording transactions, often leads to tedious
reconciliations, missing reporting deadlines, and increased risk of non-compliance. Typically only 20% –
25% of resource time is utilized for analytical activities while the balance is consumed by transaction
processing and reconciliations. An efficient outsourced R2R process leads to reduced costs through
automation, standardization, and better controls. The availability of accurate and timely accounting information
gives a competitive advantage and helps executives in making sound business decisions. No doubt that,
Record to Report (R2R) is on the priority list of CFOs.

Our services

Our R2R services allow our clients to concentrate and invest resources in their core business, by freeing
up their valuable management time. We fully understand the ‘control needs’ of international and multi-
national businesses. We will provide you with the information you require at the point of need and keep
you informed of any accounts or business financial issues and give you sound professional advice when
required. We are ideally placed to offer as much, or as little, back-office support as you need.

Our R2R services comprise all of the following:

  • Recording of bank & cash transactions, credit card transactions, and periodic reconciliation.
  • A/P Management – Entering Bills of vendors, tracking of A/P, Payments to vendors/suppliers,
    Generation of A/P reports, aging analysis.
  • A/R – Managements-Preparing Estimates, Record sales invoices, Tracking of A/R, updating receipts
    and Generation of A/R reports/aging reports.
  • Inventory Management – Updating inventory records, tracking usage, generation of inventory reports
    etc.
  • Inter-Company reconciliations.
  • Fixed asset accounting including capitalization, and depreciation.
  • Processing VAT returns and reconciliation.

Our value proposition

  • Real-Time Accounting
  • Faster closure of month-end activities
  • Timely reconciliation of control accounts.
  • Reduction in number of reconciliations
  • Cost reduction in the range of 30-40% as compared to in-house processing through the process improvements & labor arbitrage
  • Reduced calls to customer service
  • Proactive identification of issues that can impact reporting.
  • Improving relationships with customers and suppliers
  • Focus on core Business