About Client
A private bank with a network of 5000+ branches & 14000+ ATMS providing products and services such as retail banking, wholesale banking, personal loans, lifestyle loans, credit cards and more.
Business Challenges
- Multiple legacy systems for data
- Inaccurate system-level checks to manage regulatory requirements of reconciling vendors’ invoices submitted to bank with the vendors’ invoices submitted to GSTN
- Inefficient GST ITC claims leading to the risk of blocked ITC
- Various invoice transaction with numerous vendors
- Lack of accuracy in claiming input tax credit
- Difficult to maintain & update multiple source systems
- Lack of vendor interface to access invoices & payment information
Our Solution
- Quick reconciliation of the GSTR 2A & Purchase
- API integration to push the reconciliation status & data
- Integration with Active Directory, Oracle Payment Apps & User Access Management
- Advanced reconciliation with Oracle invoices as well as vendor invoices
- Implemented seamless approval workflow