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Payment Management System: International Institute of Planning & Management
Payment Management System: International Institute of Planning & Management
NEW DELHI
PROJECT REPORT
IN
ON THE TOPIC OF
ACKNOWLEDGEMENT
I asseverate my deep sense of gratitude toward:
Mr. Sanjeev Mehta (Sr. manager Admin deptt.), Mr.
Pankaj kalra (finanacial controller), Mr. Samar roy (Sr.
manager finance Deptt).
This Project has been made possible through the direct
and indirect Co-operation of various staff members of
AIRCEL LIMITED. And without those co-operation & help
the completion of this internship was not possible, who
have inspired me at every step suggest alternative
solutions & shared their valuable experience & knowledge
with me.
who always facilitates me in gaining practical knowledge.
In my last line I would like to say thanks to Mr. Vikash
gupta, Mr. Subham jain, Mr. Amir ali (finance deptt.)
who helped me alot in explaining the work process of the
organization & sharing other precious knowledge.
RAJAT CHOUDHARY
(SS2008/2010)
PREFACE
Practical part is an essential part of management studies as it helps one
to visualize the management practices in the field, the theoretical aspects
of which we have learnt in the classroom.
This study of payment management system is based on on-the-job & offthe-job research, With the help of past financial data, the roll of other
departments in payment system, budget system, application of SAP in
finance, role of different circles, contracts, vendors payment period. on
all these topics research has done. This training constitutes an integral
part of my master of business administration at INTERNATIONAL
INSTITUTE OF PLANNING & MANAGEMENT (NEW DELHI).
The training period consist of 45 days from January 2nd to 27th January
2009
CONTENTS
1.Preface
2.Acknowledge
3.Organization structure
3.1- History of organization
3.2- Strategic business unit
3.3- About products
3.4- Financial performance
3.5- Organization chart
4. Introduction
4.1-Objective of study
4.2-Payment process
4.3-Type of payments
4.4-Budget
4.5-Involved departments
4.6-Vendors & contracts
4.7-Importance of SAP
5. Research methodologies
5.1 Introduction & objective
5.2 Research Design
5.3 Data collection Instruments
5.4 Research Limitation
6. Bibliography
7. Abbreviation
8. Conclusion
Company origin
The Aircel Group is a joint venture between Maxis Communications Berhad of
Malaysia and Apollo Hospital Enterprise Ltd of India, with Maxis Communications
holding a majority stake of 74%. Aircel commenced operations in 1999 and became
the leading mobile operator in Tamil Nadu within 18 months. In December 2003, it
launched commercially in Chennai and quickly established itself as a market leader
a position it has held since. Aircel began its outward expansion in 2005 and met
with unprecedented success in the Eastern frontier circles. It emerged a market
leader in Assam and in the North Eastern provinces within 18 months of operations.
During this period, the company gained a foothold in 9 circles.
Sr. no
Circles
1.
Chennai
2.
Tamilnadu
3.
Assam
4.
Kolkata
5.
Bihar
6.
Orrisa
7.
Himachal pradesh
8.
9.
North east
HOLDING
COMPANY
DISHNET
WIRELESS
LIMITED
AIRCEL
CELLULAR
LIMITED
AIRCEL BUSINESS
SOLUTIONS
in different circles.
AIRCEL BUSINESS SOLUTIONS-This is the sub part of aircel cellular
COMPANY OFFERING(PRODUCTS)
Aircel mainly deal in its core business of cellular connection. it
provides variety of products such as.
-Postpaid mobile connections
-Prepaid mobile connections
-Recharge vouchers
-Value added services
-Broadband connections
with the help of these products company operate its business in
the market & company launches other products but they can be
depend on either the competition or customer preference
Financial performance
Profit figures
This was possible, as the subscriber base of Aircel has more than
doubled to 5.5 million as of March 2007 as compared to 2.6
million a year back, taking Maxis's total subscriber base
to 14 million during the quarter. Aircel managed to retain its
market share in Chennai and Tamil Nadu with 26% and 29%,
respectively.
In the other five circles, the company's market share rose from
9.3% to 11% in the current quarter . In the last quarter under
review alone Aircel has gained 1 million subscribers, Maxis
said.
Aircel is operational in nine circles with an immediate market
coverage to 350 million people, a quick gain on population from
last quarter's 230 million people from seven circles.
Having earmarked around $1 billion investments in India over a
period of three years, Maxis sees its Indian subsidiary become a
key player in the groups overall growth in revenue and profits.
FINANCE
DEPTT.
TRESURY
REVENUE
TAXATION
M.I.S
PAYBLE
OPEX
CAPEX
M.D
(MAXIS GROUP)
C.F.O
FINANCIAL
CONTROLLER
C.O.O
OTHERS
BUSINESS
CONTROLER
MANAGER/
Sr. MANAGER
DIVISIONAL
MANAGER/ ASTT.
MANAGER
SENIOR
EXECUTIVE
OBJECTIVE OF STUDY
This study of payment management system relates with the payment
which made by the company against their expenditures. The main focus of
this study is on the overall payment procedure, expenditures are
different in their nature company pays huge amount against these ongoing
expenditures in term of fortnightly, monthly, quarterly.
Material, Money, Market, Method, Manpower, Management these are 6
important needs for running any business all relates to each other they
cannot work without each other aid. In organization expenditures are as
back cost & the margins are as face cost. Management of overall payment
system, this tasks transparency & efficiency is depend upon the ERP
system (SAP) or the employee. SAP makes work more easy in less times
& employee are the helper who helps to SAP in collecting the correct data
from the sources
PAYMENT PROCESS
REQUIRED
COMMERCIAL
DEPTT.
DEPTT.
SELECT
VENDOR ON
THE BASIS OF
PRICES
GENERAT
E
P.O
H
A
N
D
O
V
E
R
T
O
D
E
P
T
T
VENDOR
GOODS RECEIVED BY
COMMERCIAL DEPTT.
MADE GRN
ENTRY
PAYBLE DEPTT.
This is the whole process starts from the required deptt. The needy
department issue demand letter to commercial deptt in which they
specified what they need after getting this letter by commercial deptt.
they analyze this letter carefully & start contacts to their vendors they
take quotations from different vendor after collecting the quotations
they compare the price, quality, delivery, post sales services & other
TYPE OF PAYMENTS
OPEX- This term OPEX stands for operational expenditures, these
kind of expenditure are required for running the business or we can
say these kind of expenditure are operating expenditures which arises
when we operates business. Such as telephone, electricity, advertising
transportations these kind of expenditures consist in this category.
CAPEX-It means capital expenditure which arises when company
purchase new assets or add some new values in the existing assets
these expenses are not uniform in their nature but amount of these
expenses are very huge these are made often not regularly.
BUDGET
WHAT IS BUDGET
Budget is a financial or quantitative statement that prepared
prior to a predefined period of time.
Budgeting is a method of determining the future expenditures at
prior period of time.
Objective of budget
1.Helps in executing the managerial polices.
2.It helps in taking precautions about the future expenditures.
3.Increase the performance of the organization.
4.Increase the revenue /NPAT after executing the budget.
Method of budget
1.Fixed budget In these type of budgets level of activity is
already fixed & no chance for increase or decrease in their level
of activity.
TERMINOLOGIES IN BUDGET
1. Fixed expenditures
2. Variable expenditures
3. Semi-variable expenditure
-Revenue department
-M.I.S department- This department helps finance deptt. in
managing their work. MIS executes different type of work at
Managerial level
Operational level
MIS Deptt. explore, collects, analyze data & convert that data to
knowledge. This knowledge is very helpful for the relative
deppt. Which makes their work more & some times this deptt.
is known as knowledge deptt.
Objective of contract
1. It eliminates fluctuation in the price of P/S.
2. It makes constant the operating expenditure.
3. Reduce the chances of un availability.
4. Fixed payment period which is beneficial for both parties
IMPORTANCE OF SAP IN FINANCE
WHAT IS SAP:SAP stands for system of applications & products. It is the
integration of set of software that makes the work easier, it provides
efficiency, effectiveness, transparency in the business and after
implementation of SAP in business it makes our business more
technological where errors are very less .
RESEARCH METHODOLOGIES
5.1:- INTRODUCTION
Research always starts with a question or a problem. Its purpose is
to answer to questions through the application of the scientific
methods. It is a systematic and intensive study directed towards a
more complete knowledge of the subject studies. Once the problem
is defined properly then one can easilychalk out the Objectives for
the research.
Objectives of the Research Project
The subject matter for this research Project is to study the
behavior of the payment system against the expenditure arises in
during the operation.
This project consists of different objectives.
They are as follows:
To know the payment settlement system.
To measure what is the major field of expenditure.
To know how the payment made against the expenditure.
To understand the link in between different finance deptt.
5.2:-Research Design:
Research Design is the plan, structure and strategy of
investigation conceived so as to obtain answers to research
questions and to control variance.
Descriptive Research
The type of research Design for this Research Project is
Descriptive Research. Under the head of the Descriptive
Research this project is based on the
Cross sectional studies.
The cross sectional studies are of two types:
1. Field studies
2. Surveys
This research is based on the surveys.
The complete research design is formulated with the following
steps:
1. Identify and define the problem
2. Choice of Research Design
3. Determining sources of Data
4. Designing data collection Forms
5. Determining sampling design and sampling size
6. Organizing and conducting the field survey
7. Processing and analyzing the collected data
BIBLIOGRAPHY
Books
Research Methodology C. R. Kothari
Cost & management accounting Jain, Pareek
Websites:
http://www.google.com
http://en.wikipedia.org
http://www.aircel.com
Department documents
ABBREVIATION
1. P/S- Product & service
2. P.O- Purchase order
3. P.R- Purchase requisition
4. N.L.D- National long distance
5. I.L.D- International long distance
6. NPAT- Net profit after tax
CONCLUSION
The winter internship for partial fulfillment of Post graduate
diploma in management course in training program was a very
good experience for me.This training gives us an exposure to
professional working culture prevailing in industry, which is
very important for a management student. It also provide a mind
set to work hard during the initial phase of career.
I did my training in finance department of a well reputated &
well established company. I am sure that this training helps me a
lot in future career.
I again thanks to everyone who has contributed to make this
experience truly complete & stimulating.
RAJAT CHOUDHARY
I.I.P.M (NEW DELHI)