Delivering operational excellence and efficiency to key business processes
Convergys has more than a decade of experience in F&A outsourcing, handling over 12 million transactions per year. The acquisition of a Big 4 accounting outsourcing practice added a large number of accounting specialists and CPAs to our staff and provided access to a wealth of accounting best practices. Our F&A service centers are designed to meet SAS70 and Sarbanes-Oxley compliance. By using standardized processes and employing flexible workflow technology, our centers provide optimized functional services while also supporting customized solutions for the following core functions.
Accounts Receivable: Convergys manages all processes related to the client's cash flow management, including sub-ledger setup and maintenance and reconciliation of the sub-ledger to the general ledger. Convergys' responsibilities within the AR process include set-up and maintenance of customer master file, invoicing, lock box management, cash applications, credit and collections, customer inquiry support, period and year-end closing, and management reporting. Read more about Accounts Receivable.
Accounts Payable: Convergys employs state-of-the art automated document management and workflow systems to provide faster, more accurate document processing. Convergys responsibilities within the AP process include set-up and maintenance of vendor master file, purchase order and invoice processing, travel and entertainment expense reimbursement, disbursement processing (check and EFT), P-card administration, vendor inquiry support, 1099 compliance activities, period and year-end closing, and reporting. Read more about Accounts Payable.
Fixed Assets: Convergys services include asset sub-ledger set-up and maintenance, calculation and posting of depreciation, capital budgeting support, job and project costing, administration of the capital approval process, period and year-end closing, and reporting.
General Accounting: Convergys supplies general accounting functions including chart of accounts maintenance, journal entry preparation and posting, fiscal period and year-end ledger closing activities, and general ledger account reconciliations (including bank reconciliations.)
Financial Reporting: Convergys compiles and performs the preliminary analysis of the unaudited financial statements for each period and year-end close and submits the results for client review and approval. Included in these deliverables are analyses of budget to actual variances, project reporting, KPI reporting, and management reporting. We provide assistance and support to our clients during the external audit (and other statutory reviews) of the financial information.
Other: In addition to the above core accounting functions, Convergys provides various function and industry-specific solutions, including budgeting, treasury services, and cost accounting.
Interested in outsourcing your F&A? Contact us today.