1.Procure to Pay:

a.       Supplier set up

                                                              i.      Update supplier list

                                                            ii.      Create supplier information

                                                          iii.      Update supplier information

                                                          iv.      Contact details entry

                                                            v.      Query resolutions

b.      Purchasing

                                                              i.      Sourcing rules & workflow

                                                            ii.      Approval for purchase orders

                                                          iii.      Price and catalog information

                                                          iv.      Automatic faxing

                                                            v.      Invoices on hold resolution

c.       Payables

                                                              i.      Invoice match to receipt

                                                            ii.      Payment batch sets

                                                          iii.      Recording refunds

                                                          iv.      Effective date on taxes

                                                            v.      Month, year end cycle

2.    Order to Cash:

a.       Order Management

                                                              i.      Customer on-boarding

                                                            ii.      Order qty, price and ship to details

                                                          iii.      Query resolution

                                                          iv.      Fulfillment & Audit

b.      Receivables

                                                              i.      Invoice creation

                                                            ii.      Query resolution

                                                          iii.      Collections

                                                          iv.      Processing receipts

                                                            v.      Reporting

c.       Cash Management

                                                              i.      Cash application

                                                            ii.      Bank reconciliation

                                                          iii.      Cash forecasting

                                                          iv.      Treasury activities

3.     Record to Report:

a.       Fixed Assets

                                                              i.      Formula based depreciation

                                                            ii.      Viewing accounting lines

                                                          iii.      Mass reclassifications

                                                          iv.      Maintaining asset insurance values

b.      Reporting & Budgeting

                                                              i.      Trial balance & balance sheet

                                                            ii.      MIS and reporting

                                                          iii.      Create budgets and resolve queries

c.       General Ledger

                                                              i.      Calendar auditing

                                                            ii.      Roll ups

                                                          iii.      Inter-company balancing

                                                          iv.      Global consolidation

                                                            v.      Standard reports

It was a very interactive session receiving a very positive response from students. The insights received were of great help to the 1st year students who would be taking up Finance specialization.

We thank Mr. Neerad for helping us with structuring Mentorship Program and also for his insights on Finance Cycle in manufacturing industry.