Problem statement
This global industrial company is a conglomerate, and is into multiple businesses. TanServ was working with 2 of its divisions, one of which was building technologies. Due to project nature of the business and milestone based payments, the requirement was to manage the entire AR workflow for timely payments.
Solution provided
TanServ team worked with client at the contract management level to ensure timely submission of invoices as well as ensuring the required documents are all right the first time. Subsequent follow up at various points for signoff, starting from project manager stage to the finance team, TanServ team kept a close coordination with customers to ensure timely payments. Ensuring that majority of the customers pay within the due date.
Results
Better AR Management lead to better and faster cashflow, leading to a robust AR management.
