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Invoice and Payment Management

Analysts believe that despite all the checks and balances, organizations lose about 2% of their total annual billing owing to lack of effectiveness in Invoice Payment (IP) and Invoice Reconciliation (IR).

Most Service Providers run a decentralized billing pattern at their end given their P & L accountability model across various vertical practices which makes it difficult for their Engagement Managers to generate a consolidated invoice summary for their clients. Further it is observed that the best Invoice Accuracy Rate that service providers run is about 95%. This rate is even lower where multiple Supplements, SoWs, Locations, Overlaps, Currencies are involved.


Audit Report

Our CSAs will audit Invoice Payment (IP) and Invoice Reconciliation (IR) in your Contract;

  • Invoice Formatting - Project IDs, PO Number, Dept. IDs, Description, Resource IDs, Dates, etc.
  • Complete Flow – IT Sourcing Office, IT Finance, IT Ops Dept., Service Provider, etc.
  • Reconciliation - Contract Pricing Model, Rate Cards, Time Sheets, Business Case, etc.
  • Approval Committee (IT Finance, IT Service Delivery, IT Sourcing Office, etc)
  • Verification and Validation Process – Automation Vs Manual Process
  • Payment Terms – Days, Currency, Hedging, etc.
  • Invoice Consolidation

Audit Execution

Our CSAs will audit above areas to suggest industry standard recommendation that are most suitable to environment.
CSAs will work with you and your service provider in doing;

  • Complete Analysis of Invoice Payment (IP) and Invoice Reconciliation (IR).
  • Computations of your annual losses if correct IP and IR not adopted.
  • Discussions and Negotiations with Service Provider.
  • Implementation of recommended Invoice Payment (IP) and Invoice Reconciliation (IR).
  • Socialization and Training for Engagement, Operational and Finance Leaders.