Tesco HSC has started playing a significant role in managing financial transactions, reporting and control activities for Tesco’s global retail operations. The teams here play a larger role in helping Tesco manage its finances and contribute to further improving its financial control.
From managing financial transactions to reporting and control activities for Tesco, our finance services team provides support keeping in mind the diverse financial processes maintained across countries. The finance services team works for the UK, Republic of Ireland (ROI) and US businesses of Tesco. |
| Helping Tesco manage and improve their financial control, our finance services team is involved in the following work. |
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The finance process re-engineering is managed by our finance service team. For eg: Accounts Payable - goods not for resale, CIP rationalisation etc. |
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The team enables the board to make better decisions through management accounting and reporting. |
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Finance services professionals evaluate the existing processes and systems across and recommend solutions in accordance with Tesco’s scale and expansion plans. |
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| The numbers keep getting bigger... |
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Our CIP team makes payments of around £8 billion to our suppliers. |
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The Accounts Payable (AP) team handles 8000 registered suppliers. |
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Over 540,000 invoices are processed on an annual basis by the AP team. |
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The annual payout from AP is over £4 billion. |
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