Industry-specialized finance & accounting services

Manufacturing

Infosys F&A BPM services for manufacturing covers the entire spectrum of services from pure-play transactional services to higher-end services such as support for Sarbanes-Oxley (SOX) compliance, internal controls, taxes – direct and indirect, and GAAP-IFRS convergence. In the process, we have crated outcomes for our clients by reducing the cost of operations, helping them become a world-class finance organization and implementing effective controls. Our domain expertise, in combination with our manufacturing experience, helps our clients achieve top quartile performance. Infosys manufacturing practice contributes to ~25% of revenue for the BPM organization across hi-tech and discrete manufacturing services.

Some specialized F&A processes handled by us include:

Divestiture accounting: This is a specialized accounting service provided during disinvestment or selling of intellectual property rights, corporate acquisitions and mergers, strategic business restricting, and court-ordered divestments. This involves complex accounting maneuvering as a result of setting-up of new finance org-structures, implementation of new ERP, and managing cut-over with the parent organization.

Deductions management: Globally companies are inundated with excessive claims for deductions and chargebacks against receivables. A significant portion of these claims are invalid or written-off. They drain time and resources from marketing, sales, credit, collections, accounts receivables, customer service, and distribution personnel as they need to research and resolve deductions. Major reasons include short shipment, on invoice price issues, off invoice discounts, and unplanned returns. Predictive analytics-based approach involving historical data analysis and implementation of recommendations expedites claim resolution and frees-up locked funds.

Channel incentives accounting includes ensuring that the accounting practices are up-to-date and capable of handling the legal risks that a channel incentives and rewards program exposes the company to. This includes:

• Incentives calculation: Commissions and reports, corrections to sales / commissions files,
• Payment: Manage partner eligibility and ensure timely payment, ensure accurate payments against respective sales for defined programs
• Reconcile / reporting: Reconcile sales data with individual partners’ sales and payments, reporting and analytics for promotion effectiveness, partner network evaluation, etc. Resolve any setup issues such as account setup, sales, etc.
• Onboarding / training: Profile management and certifications, account set-up process for partner onboarding, etc.

Retail, consumer packaged goods, logistics (RCPGL)

Infosys BPM excels in finance and accounting across the industry, offering end-to-end services to our clients. Some specialized F&A process that we deliver for the RCPGL industries are:

Store P&L / profitability analysis: P&L analysis with detailed explanation on the variance beyond threshold shared with the client's management team / controllers assist them in decision making.

Restaurant accounting / common area maintenance accounting: We do pioneering work in accounting services, cash / bank reconciliations, resolving open items within stipulated timelines, inventory reconciliations, accruals and liabilities, and prepaid expenses among other activities.

Rent accounting: For restaurant chains, advance rent paid for the year to be amortized for the next 12 months. If an eatery is closed before the stipulated period, we ensure proper information flows to the Controller's group to recover any rent paid in advance.

Cash in transit accounting: A unique process in the restaurant industry. Eateries remotely located do not have easy access to banks. Hence they record sales in an integrated software, which interfaces with the client's ERP. Once the cash is deposited to the bank, it appears in bank statement on the next working day, and moved to the cash in transit account through a journal posted by the treasury team. This is reconciled with the debit appearing from the site accounting system.

Healthcare, insurance, life sciences (HiLife)

At Infosys BPM, we combine our strong domain expertise, flexible operating model, and integrated IT-BPM solutions to address the changing dynamics of the healthcare industry. Our solutions are designed to:

• Transform operating models
• Improve business performance
• Standardize processes with reduced costs

Some specialized F&A processes we handle include:

Commission accounting: The commission payable to salesperson may be based on a flat fee arrangement, or (more commonly) as a percentage of the revenue generated. Less common commission structures are based on the gross margin or net income generated by a sale. These structures are typically less used, since they are more difficult to calculate.