Teamlease Digital Interview Questions and Answers

To handle a bulk of invoices, prioritize tasks, use organizational tools, and establish a systematic workflow.

• Prioritize tasks based on due dates and importance

• Utilize organizational tools such as spreadsheets or project management software

• Establish a systematic workflow by breaking down the bulk into manageable chunks

• Allocate dedicated time slots for invoice processing

• Communicate with relevant stakeholders to ensure timely payments

• Automate repetitive tasks using technology i...read more

P2P stands for peer-to-peer, a decentralized network where participants can directly interact and share resources without a central authority.

• P2P networks allow users to share files, data, or resources directly with each other.

• These networks eliminate the need for intermediaries or central servers.

• Examples of P2P networks include BitTorrent for file sharing and Bitcoin for decentralized digital currency.

• P2P networks can be used for various purposes such as file sharing, commu...read more

SAP is an enterprise resource planning software that helps streamline business processes, including the Procure-to-Pay process.

• SAP stands for Systems, Applications, and Products in Data Processing.

• It integrates various functions within an organization, such as finance, HR, and procurement.

• In the Procure-to-Pay process, SAP helps automate and optimize the purchasing process from requisition to payment.

• It allows for better visibility into spending, vendor management, and compli...read more

My salary expectation is negotiable and based on the responsibilities and opportunities offered by the position.

• My salary expectation is flexible and open to discussion.

• I am looking for a competitive salary that reflects my skills and experience.

• I am more focused on the overall compensation package rather than just the base salary.

GRN stands for Goods Receipt Note. PTP cycle refers to Procure-to-Pay cycle. Roles and responsibilities include managing inventory, processing purchase orders, and coordinating with suppliers.

• GRN is a document used to confirm the receipt of goods from a supplier.

• PTP cycle involves the entire process from procuring goods or services to making payments.

• Roles and responsibilities may include managing inventory levels, processing purchase orders, and coordinating with suppliers f...read more

I handle vendors by establishing clear communication channels, setting expectations, negotiating terms, and monitoring performance.

• Establish clear communication channels with vendors to ensure smooth operations

• Set clear expectations regarding deliverables, timelines, and quality standards

• Negotiate terms and contracts to ensure mutually beneficial agreements

• Monitor vendor performance regularly and address any issues promptly

• Build strong relationships with key vendors to foster...read more

Accruals are expenses incurred but not yet paid, while prepaids are payments made in advance for goods or services.

• Accruals are expenses that have been incurred but not yet paid for.

• Prepaids are payments made in advance for goods or services.

• Accruals are recorded as liabilities on the balance sheet until they are paid.

• Prepaids are recorded as assets on the balance sheet until they are used or expire.

Email to manager requesting approval for new software purchase

• Introduce the need for new software

• Explain the benefits of the software

• Request approval and budget allocation

• Provide any relevant research or quotes from vendors