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Global Finance and Accounting Hub

Financial Accounting and Analysis

The eClerx Finance and Accounting team are experts in financial reporting and maintenance activities, performing at a global level for our clients.

Below is a summary of the work that we do in this space.

  • Global Revenue Reconciliation between Sub Ledger and General Ledger and liaising with Product controllers to clear the breaks in the reconciliations
  • Expense Allocation from back office to front offices, Hierarchy re-organization and Budget Transfers
  • Daily, weekly, monthly and quarterly reporting of revenue for the division at both regional and global levels
  • Journal entries to post the revenues and  expenses across the regions and divisions
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Challenges

  • ​Unstructured and non standardized processes across different regions and the banking divisions
  • Highly manual and people dependent tasks, thus time consuming

Solutions

  • Standardization of financial reporting procedures across all regions and banking divisions
  • Deployment of SMEs with sound understanding and knowledge of Global Accounting standards
  • Creation of  a shared services hub for global accounting and reporting, giving benefits of scale
  • Leveraging eClerx developed  tools  to streamline financial data reporting processes
  • 24x5 support on a global basis from India

Benefits

  • ​Holistic approach creates global hubs
  • Standardized activities are performed across the enterprise, regardless of division or geography
  • Implementation of the best practices
  • Achievement of ~100% timeliness SLA’s and 99% accuracy SLA’s leveraging eClerx’ robust in-house governance and control framework
  • eClerx Automation delivers efficient, controlled, and scalable processing