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Expense Management Reporting Support

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Expense Line Control

The eClerx Expense Management group acts as Expense Line Controllers (ELC) for our clients. We report on all non compensational expenses across multiple divisions such as Investment Banking, Asset Management and Shared Services. We cover over 14 expense lines spanning across AMERICAS, EMEA and APAC with hundreds of reports produced for dozens of stake holders.

Challenges

  • Monthly accounting and close activities performed on business days across the month for multiple expense lines
  • Voluminous data processed to create reports; processing capacity acts as bottleneck to generate reports efficiently
  • Insufficient resource bandwidth to execute critical activities due to increased accounting and reporting requirements
  • Disconnect between various departments creating reports and hence lack of coordination
  • Additional focus on cost analysis and savings initiatives across expense lines with high P&L impact

Solutions

  • Dedicated offshore process team rolling out reports and other analytical activities
  • eClerx IT capabilities to automate various reporting procedures
  • eClerx’ exclusive Transactional Expense Database built for clients’ Expense Management teams
  • Manager Audits at granular level on each process ensured productivity and quality control
  • Detailed level of documentation for all reporting activities

Benefits

  • Seamless delivery amidst tight deadlines for hundreds of reports across clients
  • Leverage eClerx IT capabilities to automate reporting procedures; approximately 900 man-hours of monthly activities automated to date
  • Ensure standard procedures across regional reports; helps sharing of best practices
  • 100% compliance with respect to delivery timelines across all phases