Record to report / R2R – Reconciliations
Last post was just a sample of a value add.
Based on the client’s business, you can come up with multiple ways of adding value.
Some of these mechanisms could be:
- Trends of disconnects in penalties – the client’s accounting could be charging amounts not communicated by sales
- Transportation charges – quite often these are a common occurrence, the customers of your client would be expecting your client to do a free delivery, whereas the sale contract could specify otherwise
- Foreign exchange differences in inter country transactions could open a set of undefined terms, where your client could be losing money
- Non-credit of early payment charges could cost your client loss of the customer, customers are important
- Similarly, your client might be losing money on account of write-off of penalties & interest written off, which could be triggered by the reconciliation process
There is so much in this simple process and it’s just your imagination that could restrict you.
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