Vendor helpdesk (VHD) assists the company is tracking each and every vendor invoice as it travels through the departments in the company for approvals while monitoring the SLA committed to the vendor for payment. This is mainly set up to handle large volumes of vendor invoices or as a help to a centralized payable process running in corporates.
While mostly the VHD is customized to suit the requirements of the clients, however broadly it aims to achieve the following :
- Centralize the vendor bill receipt / tracking
- Check invoices for relevant supporting and provide email confirmation to vendors for
receipt of invoices.
- Forward to departments for approvals
- Forward to Finance for cheque preparation
- Cheque issuance to vendor with details
- Monitor turn around time for payment
- MIS
- Handling all correspondence with vendors
- TDS certificates and C form request receipt and forwarding to concerned department
Typical advantages of setting up the VHD are :-
- Vendor interaction with user, Commercial, Finance for unusual follow-ups is reduced saving time and energy for core areas.
- Vendor gets one window contact for all the Query resolution.
- Vendor is intimated for invoice receipt on mail so no botheration for giving the physical receiving resulting in reduced walk-in of vendors, only the invoices which are with all the supporting documents are entered in system else returned to vendor requiring the complete papers thus entering only complete invoices in system.
- With the introduction of invoice cover sheet where all the department will mention the amount approved and brief reason for deduction if any,VHD is able to provide the vendor with actual picture and complete transaction of invoice value on its own without any follow up by vendor. This also reduces year end reconciliation's to large extent
- Regular follow up with all the concerned department for raising an alarm as to pending invoices which are not approved within departmental SLA, Personal follow up with user and if not responded then escalation to HOD.
- Mails to all the department intimating the cheques released for the invoices relating their department.
- Taking the Address Change request from vendors and giving to commercial department for updating in system so that the cheques are printed with right addresses.
- Vendor Help desk will track the request for TDS and WCT certificates form vendor and forward the same to respective department and release the certificate with receiving from vendor acknowledging the same once received for concerned department.