Procure to Pay - Payment Processing Operations
Years of Experience:
3 to 5 years
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What would you do?
You will be aligned with our Finance Operations vertical and will be helping us in determining financial outcomes by collecting operational data/reports, whilst conducting analysis and reconciling transactions.
boosting vendor compliance, cutting savings erosion, improving discount capture using preferred suppliers, and in confirming pricing and terms prior to payment. Responsible for accounting of goods and services, through requisitioning, purchasing and receiving. Also look after order sequence of procurement and financial process end to end. The Accounts Payable Processing team focuses on designing, implementing, managing and supporting accounts payable activities by applying the relevant processes, policies and applications. The team is responsible for timely and accurate billing and processing of invoices, managing purchase and non-purchase orders and two-way and three-way matching of invoices.
The Payment Processing Operations team is responsible for making payments using checks, wire, swift, direct debits, etc. as part of the invoice processing cycle. The team also executes manual payments and automated payment runs, run potential duplicate payments reports and take appropriate action, and execute payment-related controls. The role requires a good understanding of vendor payments, Travel and Expense (T&E) payments, and taxation.
What are we looking for?
•Ability to establish strong client relationship
•Good Verbal Communication Skills ,
Good understanding of Vendor Payment processing ,
Good Understanding of Payment controls ,
Good Written Communication ,
Problem Solving attitude ,
Team working and co-ordination ,
Ready to work in night shifts
Analytical skill ,
Knowledge of current technologies in PTP domain ,
Understanding of RPAs ,
Roles and Responsibilities:
•Creating/validating payment schedule as per business guidelines ,
Process vendor payment runs as per the defined schedule following parameters given in Desktop procedure,
Process urgent payment in agreed timeframe availing all required approvals,
Ensure quality review of the payment proposals. Ensure Pre payment and post payment validations are performed,
Co-ordinate with Vendor master team to manage the invoices/vendor hold,
Confirm Payment run is debited from the bank account,
Ensure next payment runs is performed post bank reconciliation is done by RTR side,
Co-ordinate with banking team to manage payment exceptions and vendor refunds,
Generate payment remittance advice and ensure these are sent to the vendors on timely basis,
Maintaing relevant payment approval audit trail for audit and compliance purposes,
Perform Duplicate audit check ,
Do the RCAs for duplicate or errorneous payment,
Maintaining duplicate audit tracker untill duplicate payments are received ,
Keep documentation update,
Manage periodic audit,
Ensure compliance to policies and procedure,
Ensure adequacy of process controls being in place