GuillermoRosés srlu
Finance & Accounting (F&A) Business Process Outsourcing (BPO)
Back-Office Outsourcing
|
Payment processing |
□ Improve
efficency
By outsourcing
their payment
processing,
Subsidiaries are
seeing substantial
savings in labour
and operational
costs, which
improves their
bottom-lines,
in conjunction
with a decreased
turnaround time
and optimized
cash flow, making
payment processing
outsourcing an
attractive resource
to improve efficiency.
□ Integration
with the
accounting
system
Payment
processing is
integrated straight
forward with the
accounting system,
allowing an accurate
accounts payable
control on real time.
□ Payment processing
□ Primary function
□ Lower Subsidiary's operating costs with
remittance processing services that improve overall efficiencies.
□ Enhance your relationship with vendors.
□ Provide easy access to the information on payable accounts.
□ Keep fluid relationships with your bank accounts managers.
Handling your accounts payable minimize
the labour-intensive work associated
with back-office processing.
□ Funds transfer
Technological advancements allow for more efficient handling of
traditional forms of payment (cash and checks) and entirely new forms of
payment (electronic funds transfers).
Depending on the groups’ internal control requirements as well as on the
available banking facilities, services are being rendered through:
|
□ Conventional payment processing (fax transmission) |
| □ Electronic payment processing (on-line transfers) |
|
□ Remittance payment |
Three different ways
are available to produce payments,depending on the group's requirements:
|
□ 1 Conventional payment processing (submission) |
| Subsidiary | Back-Office | Parent Company |
| Sends invoices | Checks with POs conditions | |
| Contacts vendors | ||
| Updates list of due outstandings | ||
|
Prepares remittance processing |
||
| Allerts Parent
Company/signatories Emails bank instructions |
Sings and fax to bank |
|
|
Allerts the bank account manager |
||
| Checks effective charges | ||
| Contacts the bank | ||
| Confirms charges |
Bank instructions are emailed by GuillermoRosés
to authorized signatories, who sign
and fax instructions to banks.
|
□ 2 On-line transfers (submission-release) |
| Subsidiary | Back-Office | Parent Company |
| Sends invoices | Checks with POs conditions | |
| Contacts vendors | ||
| Updates list of due outstandings | ||
|
Prepares remittance processing |
||
| Submits on-line payments | ||
| Allerts Parent Company/signatories |
Approval/ on-line signing |
|
|
Allerts the bank account manager |
||
|
Releases payments on-line |
||
| Checks effective charges | ||
| Contacts the bank | ||
| Confirms charges |
Transfer orders are submitted on-line
by GuillermoRosés and signatories
are allerted (email) to sign them
on-line. Once signed, transfers
are released on-line by us.
|
□ 3 On-line transfers (submission-signing-release) |
| Subsidiary | Back-Office | Parent Company |
| Sends invoices |
Checks with POs conditions | |
| Contacts vendors | ||
| Updates list of due outstandings | ||
|
Prepares remittance processing |
||
| Emails Parent Co. for approval | Emails us approval | |
| Submits on-line payments |
|
|
|
Allerts the bank account manager |
||
|
Signs payments on-line |
||
|
Releases payments on-line |
||
| Checks effective charges | ||
| Contacts the bank | ||
| Confirms charges |
Authorized signatories are allerted to approve transfers
orders. Upon their email approval, we complete the whole
payment process, submitting the orders, signing them on-line
and releasing them on-line.
Through any of these remittance processing ways, we allert
the bank in advance and follow up the effective charge
on the bank statements, keeping a close
relationship with banks.
|
□ Banks we are operating with at present |
□ International banks
□ Barclays Bank
□ Citibank International
□ HSBC
□ Fortis Bank
□ Local banks
□ Santander Central Hispano (SCH)
□ Banco Popular
□ Bankinter
Reduce the time and expense it takes to modernize and optimize back-office financial processes