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Business Process Outsourcing

As business realities change, an increasing number of companies are looking at ways to minimize costs. Adopting an outsourcing strategy can help the business reduce costs without compromising on quality. Outsourcing has definitely shown a rising trend in recent years. In a competitive environment, organizations are increasingly outsourcing repetitive transactional accounting processes and even high end processes to third party professionals who specialize in those functions due to their expertise and thereby eliminate related issues like increasing staff costs, employee attrition, resource crunches etc. We assist existing businesses to evolve an outsourcing strategy, identify business processes to outsource and manage the outsourced functions.

Organizations need to build on their core competencies and focus on strategic thinking and process reengineering rather than focus on non-core activities including support functions like financial reporting and management reporting. Business Process Outsourcing (BPO) is the management strategy of outsourcing repetitive (non-core) transactional accounting procedures to third party professionals who specialize in those functions and induct best practice process capabilities into it, thereby eliminating related issues like employee costs, employee attrition, resource crunches etc. The advantages of BPO are numerous as it improves efficiency, speed and service quality besides leveraging the provider’s extensive investments in technology, methodologies and hiring specialized manpower skills.

Our Role:

We offer a wide range of financial outsourcing services which conforms to international standards that include maintenance of computerized accounts or parts thereof, e.g. accounts receivable, accounts payable, payroll, fixed assets and MIS as well as the preparation of financial statements. Our staff are familiar with packaged accounting software suitable for small to medium business. Our services to startup businesses including selecting the appropriate software, setting up an accounting system and providing outsourced accounting services till the client develops its in-house capabilities.

Our Approach:

We use a disciplined, standardized approach to process outsourcing, while simultaneously leaving enough scope for innovation and flexibility. To achieve these objectives we will:
• Assist existing business to identify processes that can be outsourced and frame outsourcing strategies,
• Select appropriate means to ensure smooth and rapid migration of outsourced processes, and
• Manage and/or perform outsourced processes.

Our Deliverables:

We ensure timely and cost efficient information reports that facilitate objective decision making through better quality of service. We will combine our best practices in financial systems implementation and deliver end-to-end financial solutions as part of the outsourcing responsibilities, suitable for your requirements.