3X Reduction In Accounts Payable Turnaround Time (TAT)

HTC helps a leading retailer's global expansion by reducing accounts payable turnaround time

INTRODUCTION

Our client is a leading manufacturer and retailer of innovative sportswear and accessories in North America. The client was driving global business expansion while looking to maintain/improve operational efficiency

CHALLENGE

The client’s global expansion drive put enormous strain on their accounts payable processing teams. Manual processing of the growing volumes of vendor invoices, expense claims, and general enquiries was not feasible or cost-effective. A large and growing backlog of vendor invoices, expense claims, and general enquiries, coupled with delays in payment processing and expense claims settlement, resulted in higher employee turnover and poor vendor and employee satisfaction.