BPO: quality in accounting
In an interview with the editors of TREND-REPORT, Lars Heucke, CEO of nexnet explains how, by means of automation, transaction processes can be simplified...
In the age of Industry 4.0, products and solutions live in and off their digital ecosystem. This means that services around the product are becoming increasingly important through the IoT. The subscription economy, with its digital online strategies and shops is on the rise. Mass entries in the form of very small amounts and associated payment and clearing services need space. In addition, daily accounting requires attention in order that the figures are right at the end of the month. Our interview with Lars Heucke got under way in this context: "New medium-sized start ups at some point reach a transaction volume which they can no longer deal with, at which, to put crudely, the accounting department is up to its ears in it". He continues: "This involves not only the payment procedure, which is a major challenge in and of itself. Charge back, cancellations, credit, vouchers etc. generate an additional complexity that is difficult to get a grip of."
Even global players are tied to international standards and guidelines and, must, for instance, fix SOX compliance firmly in their company culture. Lars Heucke emphasizes in this context: "For example, for DAX companies too, we also build an internal controlling system together with monitoring and documentation. Once a year the auditor comes to us and audits intensively for two weeks."
With an eye on this nexnet, with its experience in "Business Process Outsourcing" (BPO) offers the necessary know-how and has processes that handle high volumes of transactions. Through constant further development, the SAP R3 module FI/CA has been expanded into a compatible solution that also serves required interfaces, e.g. the REST-API. Here, the solution docks into the back-end of the customers. "Each paid purchase transaction", says Heucke, "is thus entered by us simultaneously into our SAP-systems." Heucke continues: "Through our standard solution in the Cloud we first receive the turnover entries and then get the so-called settlement information from the 'Payment Service Providers' (PSPs). We have now linked up with almost 40 PSPs and get the information online straight away or via corresponding interfaces of the PSPs. We then post the settlements straight away so that we can see how large the accounts receivables are and check the revenues of the PSPs and thus the payment to our customers."
A further advantage of the BPO approach lies in the assumption of responsibility for monthly closing statements and accounting analyses. Heucke explains: "If the data contain errors then we have to clean these, after consulting with the customers, in such a way that the monthly closing statement really matches, is explicable and can be approved, that is, it discloses everything that is necessary with the reporting.“
See the article in the Trendreport: https://trendreport.de/?p=10442