Our qualified and skilled workforce is equipped to proficiently handle any of your requirements from payables & receivables to process audits and reconciliations for running an efficient business
Account Payable Management
For most companies, handling suppliers & vendors invoices & payments is no easy task. Many suppliers’ invoices arrive in paper form while on the other hand, a few use paper-free or electronic invoicing. This means the chances of making the Accounts Payable (AP) and Accounts Receivable (AR) process faster and cheaper gets bigger and bigger. Manual AP processing (keying in, reviewing and approving) is not only time consuming and expensive, it can as well be inaccurate with increased chances of duplicate and unauthorized payments. Speed up your invoice processing & approval cycles and ensure invoice accuracy with our Accounts Payable and Receivable Management Solution. Digitize all paper invoices and enable online electronic invoice submission, automate invoice processing and approvals based on pre-defined business rules, set automatic notifications for stakeholders to handle exceptions, share and reprocess rejected invoices with vendors and automate payment issuance, archive approved invoices and update your financial system accordingly, provide transparent and comprehensive reports for auditors and executives when needed. Genesis takes care of all your accounting needs in an efficient and cost effective manner.
Account Receivable Management
Genesis’s Receivables Management Solution allows your company to quickly reduce costs for its operations and improves collections activities, as well as allowing your limited staff to focus on more strategic activities. This, combined with increasing working capital and profitability, provides a high ROI. Our team is responsive, dedicated, and highly trained to deliver customer satisfaction. Genesis employs Six Sigma and ISO standard practices to ensure high-quality, consistent service and our annual independent audits provides customers with the assurance that Genesis’s operations controls are in place to provide customers with dependable service. We provide invoicing and billing solutions as well as centralized archiving of all receivables data and documents, Linking invoices to critical supporting information, Notifications of missing documents, Facilitating reconciliation of invoices to remittance, Reducing operation and collections costs, Implemented operation best practices, automating data management, imaging and document linking and workflows.
In business, it is important to define the processes to run the operations and activities in standardized manner and provide clarity to make timely decisions. Process audits are conducted to check the effectiveness and adequacies of existing processes by performing sample checks on the operational activities. It helps to identify the improvement opportunities and close loop gaps by taking timely corrective /preventive actions. Our specialist audit service teams offer you global experience in every industry and sector to ensure that your projects, products, processes and operations meet and exceed market regulations and standards. Our customers quickly realize the added value we bring to their businesses, which is responsive, accurate and cost effective. Our services are designed to be scalable based on the complexity, rate of growth and volatility of your supply chain. Whether it is a singular event, on-demand, project-based, indefinite supplementation or permanent placement, Genesis provides solutions which remain cost-effective and quality-driven to improve Customer and supply chain performance.
Reconciliation processing for the banking and financial services industry faces multiple challenges, including handling diverse reconciliations types and fluctuating transaction volumes that lead to escalating costs and manpower requirement. In such a dynamic market scenario, banks and financial services organizations face increasing pressure to improve efficiency and performance of reconciliation operations. Our reconciliation platform for banks and financial services companies caters to multiple Lines of Business including retail banking, commercial banking, and capital markets. We provide services for any frequency reconciliation across multiple types of reconciliations. We enable optimization of business processes for transaction matching, settlement of balances, dispute management, reporting, exception handling, and governance mechanism. Our business intelligence engine provides customized dashboards and client portals for monitoring and evaluating the reconciliation process as per the defined parameters.