integrating technology
pan India
innovative
Mynd Solutions
fast growth
Awarded as the top emerging company under the category “EMERGE GROWTH” for the
year 2009-10 by NASSCOM
ISO 27001:2005 Certified
Exceeding Our Client Expectations
GOVERNMENT OF KARNATAKA
Service Offering
FAO
• Purchase to Pay
• Employees
Reimbursements
• Order to Cash
• Bill and Collection
• Vendor Help Desk
• Fixed Assets Cycle
• Inventory Accounting
• GL Accounting
• MIS & Compliances
• Consulting & Audits
HRO
Database
Management/
CRM
Consulting
• Compensation &
• Documentation Audit of
• IFRS Consulting &
Retrial Benefits
Customer App Forms
Implementation
• e-HRIS
• Pan India Statutory
Compliances
• Manpower
Outsourcing
• HR Consulting
• Employee Help Desk
• Database management
• Order Entry Processing
• Purchase Order Processing
• Claims Processing and
Audit
• Customer Order Entry and
Verifications
• Scanning and Storage
• Maintenance of
Accounts
• Technology
Platform Selection
• Processes Set up
• Transition and
Migration
• Workflow Planning
and Design
Vendor Management
 SLA focused approach for electronic management of
vendor invoices (eInvoice) Electronic Work-Flow- To get on-line invoice
approval from User Departments as per agreed
Turn Around Time (TAT)- avoid physical
Focus on Vendor related servicesmovement of invoices from one Desk/Department
 To meet the Service Level Agreement (SLA) of the Client
to another [reduced paper work]
Company with the Vendors- in time payments
 Automation, web-access to user departments Single point of contact for Vendors
Automation
To enter details & track same in Document
Management System (DMS) with enhanced security
Delivery
Help Client Company to meet SLA
features and audit trail
 To control internal Turn Around Time (TAT) of various
 (DMS is a proprietary software of Mynd
Departments involved in Accounts Payable Work Flow
Solutions and offered on Software as a
Process
Service (SAS) basis to the client Company)
 To enhance goodwill of the client Company and help in
 To collect invoices of vendors [Electronic/Image]
meeting long-term business objectives
 To send automated confirmation to vendors on
 Provision of best services to the client Company and
receipt of invoices- [Email]
Vendors for better relationship and coordination
 Auto Alerts to user departments for approval of
invoices
Automation and latest control techniques
 Track and control in time processing and payment
 Use of latest automation techniques and software for speed
transfer to vendors- [MIS and on- line Reports]
and accuracy
 To send automated confirmations to vendors on
payment [E-mail/SMS]
 Vendor query management- [E-mails/PhoneCalls]
Scope
Capitalization Process
Process
1. Creation of location
Ids in sync with client
2. CWIP (Capital workin-progress) analysis
to initiate
capitalization process
3. Provisional
Capitalization (in
cases where
information is not
available in SAP)
4. Capitalization process
for a particular month
would be completed
on a pre-decided date
in subsequent month
5. Inter circle asset
transfer activity based
on receipt of
information
Deliverables
1. Circle wise detail of different
assets capitalized during a
particular month and amount
capitalized on pre-decided
date
2. Break-up of different assets
lying in CWIP at the end of a
particular month on a predecided date
3. CWIP Ageing Report on
monthly basis
4. Quarterly assets transferred
in/transferred out report
with updated Gross Block
and Accumulated
Depreciation
5. Fixed Assets Register (FAR)
6. Depreciation schedule
7. FA reporting
Receivable Management- Billing and
Collection
PROCESS
SCOPE
Process integrated to Mynd proprietary Software

Timely Dispatching of Payment request Invoices raised
Process Outline
to Customers.

Reminders (Letters/Mails/Telephonic) on the due dates
to the customers.

Resolution of the customer queries in timely and proper
manner.

Ensuring Collection in time & Keeping the DSO in
control

Raising Payment request Invoices
Dispatch of Invoice/ payment request Invoices to customer
Initiating Follow up with customers for payment
Maintaining Follow up trail and sending reminders to customers
Resolution/Escalation of queries received from Customers
Collections

MIS
Key Performance Indicators for Mynd Solutions
Identification of AR process gaps and implementation of
corrective steps.







Refining/redefining the current practices wherever
possible to run the AR process best suited to Client
environment




Control over DSO days through collection and reduced process gaps
Timely resolution of queries posted at Helpdesk with a Log record
Maintenance of PPV MIS in the prescribed format
Collection watch – No AR in past due category without justifiable
reasons
Physical verification
Construction of existing data-FAR.
Compilation of site wise asset register.
Break up of FAR into line items with single qty.
Reconciliation of data
Physical Verification and Tagging of fixed assets using bar codes.
Digital photographs of assets verified
Reconciliation of physical verification reports vis-à-vis FA register.
Way Forward - recommendations
Uploading of FA register in ERP system.
Closing statement
HRIS Function
HRIS- Gives three key process dimension
• Integrated Processes
– Complete life-cycle management from acquisition to separation
– Completely automated, self-service driven processes
– Eliminates wastages and costly slip-ups by inter-linking each process
with related ones
• Best-practice driven processes
– Brings best practices to each HR process
• Optimized Processes
– Eliminates administrative overheads on HR and ensures leaner HR
teams and a scalable HR function
Payroll processing
Payroll Administration

Salary structuring & suggestions

Salary Processing

Ensure necessary deduction & maintain records

Tracking of reimbursement eligibilities, claims and payments

Tax calculations & Advice

Web enabled reports

Monthly Employer / Statutory compliance

Annual Employer / Statutory compliance

Query solving for employees within 24 Hrs.

Record Keeping.
Quality Delivery Approach
1
2
Identify process deliverables
&
metrics
End to end process mapping is done using SIPOC / Flow charts
Process documentation / SOPs to impart trainings
Regular updation of SOPs to ensure consistency in delivery
Ensuring no gaps and robust change management in place
-
Identify process deliverables from customer SLAs i.e. TAT, Accuracy, Compliance etc
Follow metrics driven approach
Set up KRAs for all Agent / TLs / Managers in alignment with deliverables
Review process performance on metrics to ensure customer delivery
-
Checklist for each activity of the process to avoid any lapses / miss outs
Prepare audit or monitoring sheet with weightages to determine scoring
Identify critical (fatal) errors for the process
Set QA score targets for each process
3
Audit checklist /
monitoring sheet
4
Perform audits
&
monitoring regularly
- Conduct audits / monitoring of required samples on each process
- Prepare accuracy MIS at process level & processor level to identify lapses
- Focus more on new joinees / ones committing more errors
5
Analysis audit / monitoring
Scores & fix errors
-
Analyse errors and identify training needs for processors
Address training needs immediately to fill gaps
Take corrective & preventive measures to fix and avoid re-occurrence of errors
Ensuring consistency in the delivery with least variations.
Execution Excellence
Process mapping
&
Documentation
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Please visit us @ www.myndsol.com