COMPLIANCE AND PROCESS AUTOMATIONS – An Indian cable television and broadband service provider.
Problem Statement
• Cash collections for cable operators posed challenges in terms of collection, accounting, and reconciliation.
• The GST law required almost real-time generation of IRN (Invoice Reference Number) without an automated solution in place.
• The billing engine had limitations in performing compliance and related accounting activities.
• Numerous manual processes resulted in multiple individuals involved and delays in process execution.
Solutioning
• Implementing an automated workflow to seamlessly integrate revenue data of multiple streams from billing engines into a centralized middleware system. This process includes thorough data processing and meticulous error correction in alignment with finance and compliance regulations.
• Implementing a streamlined queuing process for issuing invoices to customers, ensuring efficient and timely delivery. Customers will have personalized access to retrieve their invoices and extract relevant data across all operational streams. This customer-centric approach enhances convenience and facilitates seamless data retrieval, empowering both customers and internal stakeholders with accurate and accessible information.
• Ensuring tax compliance with Goods and Services Tax (GST) regulations by consolidating data from various sources into a centralized system. Subsequently, conducting meticulous accounting and reporting processes to maintain accurate financial records and meet statutory requirements. IRN generation integrated to government back end to get real time generation of IRN and issue the same in invoices.
• Developing revenue identification models and integrating them into the system to automate revenue recognition and reporting processes. These models are designed to accurately identify and track revenue streams, allowing for streamlined and automated revenue calculations and reporting.
• Implementing intelligent and user-centric reporting and Management Information Systems (MIS) for revenue, billing, accounting, and other crucial areas.
• Streamlining the end-to-end automation of the internet and cable TV device journey across multiple systems, starting from the procurement stage to activation, and throughout its lifecycle.
• Virtual account concept introduced for cable operators in conjunction with partner bank and integrated bank backend to billing engine for real time reflection of funds of cable operators in the system.
MISSION
To develop and maintain long lasting and healthy client relationships by providing state-of-the-art technological solutions through continuous support and enhancement thus creating an environment of trust and respect.
VISION
To be the benchmark for Program/Project Management in Business Consulting and process definition domain that creates innovative aspects of Financial Solutions
To be recognised for the integrity of our people, the ethics of our business practices and the quality of our service.