Matrix - Process Assurance

Process Assurance

Processing up to

36 billion

per year of value in claims

Building efficient processes with
clear SLAs for claims management

Product

We are one of India’s trusted Process Assurance companies

Qualitative processing of critical business data, adherence to timelines, and correctness in delivery are imperative for effective decision-making, governance, and mitigating risks associated with poor and fraudulent practices.

We, at Matrix Business Services leverage two decades of deep expertise spanning multiple industry verticals - FMCG, BFSI, Manufacturing, Retail, and more - to manage end-to-end process assurance. Through a technology-enabled approach and customised services, we deliver efficiency to enhance customer experience.

Our Process Assurance Services

  • Accounts Receivable
  • Reconciliation Services
  • Employee Claims Processing
  • Distributor Claims Management
  • Secondary Sales Tracking, Stock and Sales Reporting
  • Accounts Payable (Vendor payments, Franchisee partner payments)

Key Differentiators

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Spends Validation

We effectively package the product and process assurance to complete the loop and assure that the spends incurred is valid in all respects. For example, visibility checks on the field are translated to monies linked to payment processes.

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Customised Processes

We understand that a single SOP doesn’t fit all requirements. Hence, standard operating practices are discussed devised tailored to fit the controls envisaged by the management, with alignment sought from all stakeholders.

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Exposure to ERP

Our hands-on experience in accounting software platforms such as SAP, oracle ensures booking to right profit centres/ cost centres/ GL.

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Technology Enabled

Our clear documentation of ratifications, exceptions, SOP deviations detailed internal SOPs, effective use of macro tools devised specifically for the activity enable a faster process, developed by our in-house team of engineers.

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Automated Processes

We use automation, wherever beneficial, through the use of services of our technology partners/vendors.

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Strict Adherence

We strictly adhere to SLAs taking into account the criticality of the tasks and the relevance to timely decisions at customers' end.

The Matrix Advantage

Comprehensive

Comprehensive

We leave no process to chance and no claim unverified. Our integrated product and process assurance service model ensures end-to-end verification across all touchpoints to deliver value for investment.

Automated and Technology Driven

Automated and Technology-Driven

Our technology-enabled process assurance service enables automation to facilitate speed, scale, transparency and efficiency.

Ownership

Ownership

We believe, through stewardship an organization can create value over time. Therefore, our checks on performance against spending are granular and help identify process gaps. We go beyond identifying process gaps to fixing them and handholding our clients through the process to make them cognizant of the associated risks in such processes.

Transparent

Transparent

Our stringent SLAs are designed to provide transparency to key stakeholders. This is especially important given the pressure receivables/ payables/high DSO creates on the business.

Expertise and Experience

Expertise and Experience

Owing to our vast experience in accounting software platforms we ensure booking to the right profit centres/cost centres. Furthermore, we leverage our vast multi-domain expertise in solving process-related challenges for businesses while being extremely competitive in pricing.

Process-Driven

Process-Driven

Our clear documentation of ratifications, SOP deviations, detailed internal SOPs, effective use of macro tools devised specifically for this activity enable speed and easy governance. Additionally, we strictly adhere to SLAs, taking into account the criticality of the tasks and the relevance to timely decisions at the customers' end.

Customised

Customised

Every business is unique, and hence, we customize every SOP bearing in mind the business’s goals, and key stakeholders within each company to better suit the company’s needs.

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People also ask

What is claims management process?

Any company that leverages a distributor network to operate multiple trade portfolios have policies and measures for distributors to get reimbursed for all their brand-related expenditure. The distributors submit their claims to the companies every month for settlements. Given these are high-value tickets, they require comprehensive verification, validation, and timely processing for settlement. This entire value chain falls under claim management.

Why is claims management important?

The claims have to be settled on time, otherwise, the channel partners may find their working capital blocked for no reason leading to business implications. Furthermore, the correctness of the lodged claims has to be verified before settlement and proper documentation has to be in place for audit trails.

Why should companies outsource claims management?

The outsourced model is effective as it ensures business process continuity. Furthermore, the outsourced company can be expected to carry deep expertise in the domain to scale and handle all touchpoints of the value chain. The vendor/service provider will add value by simplifying processes, deploying relevant technology to automate, minimise errors and efforts, and improve the productivity of the whole system.

People

Comprehensive
employee background
check services

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people

Product

End-to-end supply chain audits

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Product