Global Accounting Corp revolutionizes accounting processes for a leading Motorcycle Insurance company, achieving an impressive reduction in turnaround time.

The Challenge

• The client requires a proficient and efficient accounting outsource provider to handle AR/AP management.
• The client seeked our expertise in Cash Book Reconciliation, Daily Report processes, Reconciliation of policies settlement summary where we meticulously review and reconcile all financial transactions recorded in the cash book with the bank statement.
• Likewise they were also interested in services like Business charge card reconciliation, reliable Claims invoicing services and Claims reconciliation.

The Solution

As a solution to the customer's challenges, we provided the following services:

• High-volume transaction processing with efficient turnaround times.
• Bi-monthly Payment Runs and weekly AR processing for seamless financial management.
• Daily Cash Book Reconciliation to ensure real-time insights into financial health.
• Daily departmental reports sent to management for effective decision-making.
• First working day reconciliation of all settled policies for timely processing.
• Properly recorded and authorized credit card transactions in accounting software.
• Recording and payment of previous month's claim invoices to streamline operations.

Result

• Significant reduction in turn-around times has been achieved.
• We have successfully maintained service standards with optimal accuracy.
• Our services have enabled clients to be more flexible during peak processing times.
• By allocating more time for customer-centric activities, we have enhanced the overall client experience.
• As a result, our clients have witnessed an impressive improvement in process timeliness and efficiency.

#1034250