BGSF Establishing Accounts Payable Shared Services Group
Business scenario: Our client which was a large international oil & gas client. Our team of consultants assisted to establish an Accounts Payable Shared Services Group, upon the completion of a large acquisition.
Project Scope: Our team of Consultants worked directly with the client o develop a timeline for transitioning all AP work to an AP Shared Services Group, consisting of (63) sixty of our consultants.
These consultants were there to train current and new company employees.
Developed a manual billing process for accounts payable that required our team to manually reconcile incoming invoices.
Consultants worked over (300) three-hundred invoices per payable specialist per day to expedite outstanding AP payments.
Our team streamlined the companies entire AP process within only 18 months ensuring the backlog of invoices decreased to a point of manageable timely payment.
Clients Return on Investment: Our consultants were able to streamline the AP process and train current employees to acquire the day to day AP functions of the new Shared Services Division. Though the project was slated to last up to (36) thirty-six months, our project team was able to complete the entire process within (18) eighteen months. Thus saving the client hundreds of thousands of dollars in consulting fees, late payment fees, overtime wages, and disconnections