The Corporate Treasurer speaks to the chief executive of a Sri Lankan clothing company, which has set up a financial shared service centre to manage payments and invoicing for operations in 15 countries.

MAS Legato's Shiromi Rajendra said in the interview: “Today we use zero paper in the handling of our payments and some of the most basic accounts payable functions are now completely automated from end to end, requiring zero key stokes."

Rajendra also notes that sometimes human intervention is required, even in highly automated payments processes: “The management information allows us to trace mistakes very quickly and that person will get an automated reminder until they’ve sorted it out. But there’s sometimes a reluctance to follow the work order, which requires someone to ring up or email. We really hope further training will help us to bring our non-payment rates down.”

Read more in the full article, here.

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CTMfile take: This interview gives an insight into how a growing company in an emerging market economy has used a regional financial shared service centre to improve invoicing and payments processes, supporting the company's future growth.