Internship Report on “Improvement of Accounts Payable and Payment system from Akash Digital TV”

Abstract

This report evaluates the current accounts payable and payment system at Akash Digital TV, a subsidiary of Beximco Communications Ltd., and proposes strategic improvements to enhance efficiency, accuracy, and compliance. The analysis is grounded in hands-on experience gained during an internship in the Finance Department, with a focus on vendor payments, credit period monitoring, internal controls, and ERP integration. Currently, the AP system follows a manual, multi-step process that begins with vendors submitting physical invoices and ends with payment disbursement via various methods (cash, cheque, or BFTN). Each invoice passes through departmental verification, supply chain validation, accounts payable compliance, and payment authorization. While this structure demonstrates strong internal controls and segregation of duties, it also exposes the organization to delays, manual entry errors, and inefficiencies in document handling and audit tracking. This report identifies key bottlenecks in the existing manual process and introduces a revised framework leveraging digital tools and automation. Recommendations focus on ERP optimization, document digitization, electronic approvals, and vendor communication improvements, aiming to streamline operations, ensure regulatory compliance, and strengthen financial performance.