Exela’s Finance and Accounting Services Suite: Simplifying Financial Operations

For years, one of our clients relied on an external partner to manage their cash operations. Then, unexpectedly, that partner canceled the contract and walked away from finance and accounting services entirely.

Cue the panic.

Suddenly, managing payments for millions of customers—both households and businesses—became a daunting task. We were talking about everything from bank deposits to phone payments, online transfers, and good old-fashioned paper checks. It felt like financial chaos.

That’s where we came in.

We quickly set up a BPO center in Harlow, UK, transforming it into their new cash management hub. With a dedicated team of 20 Exela FAO experts on the ground, we began processing payments with precision. Instead of a chaotic scramble, we ensured that funds were channeled directly into the right accounts.

Fast forward to today: we’re managing a staggering 29 million electronic payments and 400,000 paper checks each year for this client.

The transition from their previous provider to Exela FAO was seamless. Over four months, we collaborated closely with the outgoing team, making sure the handover felt like a well-executed relay race—smooth and without a hitch.

The results?

Cash flow soared, and payments no longer languished in suspense accounts. Plus, we made sure to uphold PCI compliance, safeguarding sensitive data while adapting to ever-changing regulations.

On top of all this, we also launched a new hosting center for the company in Dublin, Ireland.

In short, we turned a potential disaster into a success story, ensuring our client could breathe easy again.

To read the entire case study and know more about Exela finance and accounting services suite visit our detailed blog

Let’s get an overview of what you will be reading about:

Introducing the Exela FAO Suite: Your All-in-One Financial Solution

In today’s fast-paced and competitive landscape, staying efficient is crucial. Many businesses struggle to manage critical financial processes, which can lead to errors, inefficiencies, and missed opportunities. That’s where the Exela FAO Suite comes in.

Our comprehensive solution is designed to streamline four essential financial processes:

● Procure to Pay (P2P)

● Order to Cash (O2C)

● Record to Report (R2R)

● Financial Planning and Analysis (FP&A)

By integrating these processes into one cohesive system, we break down silos and improve data flow. This means you get real-time insights and can make more informed decisions. Imagine having a clear and accurate view of your financial health and performance at your fingertips.

But the Exela FAO Suite is more than just management; it’s about transformation. We enhance financial operations, boosting efficiency and accuracy across the board. With our end-to-end P2P, O2C, R2R, and FP&A management, we empower your finance teams to work smarter and drive success.

Let us help you optimize your financial operations and seize opportunities for growth.

The Outsourcing Aspect of P2P, O2C, R2R, and FP&A

● P2P (Procure to Pay) Outsourcing

The Procure to Pay (P2P) process is crucial for managing your company’s spending — it encompasses everything from procurement to payment. However, relying on manual invoice handling can lead to delays and errors, which can negatively affect cost control and supplier relationships.

That’s where we come in. Our P2P services automate up to 96% of invoice processing by leveraging machine learning for data capture and automated payments. This means greater efficiency and accuracy in your operations.

We don’t just stop at automation; we also focus on enhancing supplier performance. We help you build and sustain strong partnerships with your suppliers by ensuring timely payments and maintaining compliance.

Curious about how our P2P outsourcing can transform your operations? Explore more

● O2C (Order to Cash) Outsourcing

The order-to-cash (O2C) process plays a vital role in revenue generation, encompassing everything from order receipt to payment collection. Efficiently managing O2C not only drives cash flow but also enhances customer satisfaction.

One of the biggest challenges in O2C is ensuring order accuracy. When order entry is done manually, errors can creep in — resulting in wrong shipments, returns, and frustrated customers. That’s where our O2C services shine. We automate order entry to deliver up to 99% accuracy in payments, significantly reducing mistakes and boosting customer satisfaction.

Timely invoicing and payment collection are equally critical. Delays in invoicing can slow down your cash flow, and late payments can jeopardize your financial stability. Our O2C solution automates invoicing and sends out payment reminders, helping you collect payments on time and improve your cash flow.

When combined with our P2P solution, our O2C services create a powerful synergy that enhances order accuracy and speeds up payment collection. The result? Better cash flow and happier customers.

Want to discover how our order to cash outsourcing service can benefit your business?

● R2R (Record to Report) Outsourcing

The Record to Report (R2R) process is crucial for accurate financial reporting, involving everything from maintaining financial records to generating reports. Effective management of R2R supports informed decision-making and ensures regulatory compliance.

Many companies struggle with data scattered across various systems, making manual reconciliation both time-consuming and prone to errors. That’s where our R2R services come in. We automate data reconciliation, achieving up to 100% automation for regular journal postings — making your financial processes much smoother.

We also develop custom integrations between your ERP systems and our solutions, ensuring that data flows seamlessly and accurately. Plus, we streamline report generation, cutting down the time needed by an average of three days.

With our R2R services, you can make timely and informed decisions while staying compliant with regulations.

Interested in learning more about our Record to Report outsourcing service?

● FP&A (Financial Planning & Analysis) Outsourcing

Financial Planning and Analysis (FP&A) is essential for effective strategic planning, covering critical areas like budgeting, forecasting, and performance analysis. When managed well, FP&A empowers businesses to prepare for the future and keep a close eye on their performance.

One major challenge many businesses face in FP&A is accurate forecasting. Inconsistent or unreliable forecasts can lead to poor decision-making and financial instability.

That’s where our FP&A services come in. We harness the power of AI and machine learning to enhance forecast accuracy, enabling you to make more informed decisions.

Another critical aspect is performance analysis. Relying on manual tracking can slow you down and introduce errors. Our services provide real-time performance analysis, offering valuable insights into your financial performance for quick adjustments.

With our FP&A outsourcing service, you can refine your forecasting and performance tracking processes, setting your business up for success.

Want to discover how our financial planning and analysis outsourcing solutions can help you thrive?

How to Get Started with Finance and Accounting Outsourcing Services

Transforming your finance team starts with a thorough audit of your internal systems and workflows. This crucial step helps us pinpoint inefficiencies and identify areas ripe for improvement. The result? A detailed report that highlights opportunities for enhancement.

Next, we craft a tailored strategy to integrate your P2P, O2C, R2R, and FP&A processes. We assess what resources you need — whether it’s technology, personnel, or budget — and collaborate closely with you to ensure everything is allocated optimally for a seamless transition.

If specific challenges arise during the audit, we can develop custom tools to address them. Once we have a solid strategy in place, we oversee the entire overhaul and migration process, ensuring that your data and operations remain intact.

Throughout the implementation phase, we’re here to provide full support and training for your finance team. Our goal is to empower you to fully leverage the capabilities of the Exela FAO Suite.

Ready to embark on this journey? Contact us to schedule your audit, and let’s kick off your transformation together!