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Outsourcing your Finance
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  The “back office” functions are the    heart of any firm’s daily operation.    Let us show you how to improve    them.
FINANCE & ACCOUNTING OUTSOURCING

Leveraging the benefits of outsourcing
What is business process outsourcing?
Process that are strategically outsourced
Are you able to focus on your core competencies and grow your business?
So how does a business ensure that critical support functions are well managed while it concentrates on its core activities?
Choosing an outsource provider
The Accounting Global advantage
Contact us


LEVERAGING THE BENEFITS OF OUTSOURCING

Organizations seriously consider outsourcing when there is a desire to consolidate and standardize disparate accounting processes and resources; a lack of in-house expertise, technology and/or resources for accounting and other support functions; or the existing infrastructure does not accommodate anticipated growth. The trend of outsourcing non-core functions to a Financial and Accounting Business Process Outsourcing (BPO) service provider is catching on, owing to its potential tremendous savings.

THE ADVANTAGES:

You give yourself a competitive edge. It gives you the scalability and flexibility to respond more efficiently and effectively to changing customer demands, deliver better service and improve management decisions. As a result, it helps you to get and stay a step ahead of competitors.

You have access to better financial information with a shorter lead-time. It also reduces cycle time in merging, developing or changing business processes to support changes in one or multiple entity organizations.

You have direct access to quality client service. An integrated service center staffed with knowledgeable professionals enables quality service and support to your customers, suppliers and employees.

You have more time and energy to focus on your business. Outsourcing frees up time and energy you can use to move your business forward. Outsourcing reduces the burden on other general and IT support services, making them more cost efficient.

You save money in HR and recruiting.
Outsourcing non-core but critical accounting functions shifts responsibility from you to the BPO service provider to hire, train and manage the staff and develop the infrastructure needed to support your business.

You have access to the latest technology and a high level of professional expertise. When you outsource your back office finance and accounting functions, you draw on the knowledge and experience of accounting, finance, technology and administrative professionals. These experts ensure that you receive top-notch value-added services that help you run your business more effectively and efficiently.   TOP

WHAT IS BUSINESS PROCESS OUTSOURCING?


Outsourcing is the transfer of ownership of a business process of an organization to an external provider. In outsourcing, the client does not instruct the vendor how to perform its task but, instead, focuses on communicating what results it desires. Accordingly, the process of accomplishing those results is usually left with the vendor, since the vendor has the domain expertise.



An increasing number of Finance Service Providers (FSPs) are also choosing BPO providers to meet their goals, particularly to gain service level improvements and say a step ahead of the intense competition.

The increasing sophistication and changing trends in technology, as well as the increasing trends towards outsourcing, has lead to a partial metamorphosis of outsourcing to a more recently evolved version known as Business Process Outsourcing (BPO). Gartner Dataquest defines BPO as the delegation of one or more IT-intensive business processes to an external provider, who in turn, owns, administrates and manages the selected process (es), based upon defined and measurable performance metrics. In BPO, the process and methods of a function being outsourced are examined and changed, adding strategic value to outsourcing. Further, the vendor reengineers the way the task is done, either by harnessing new technology to accomplish the process, or applying the existing technology in a new way to improve the process. Thus, in BPO, the way in which the process is currently being done gets changed keeping in mind the manner in which the process interacts with other departments and functions in the company. The advent of the Internet has been a boon to the BPO market, with service providers being able to use the Internet for providing BPO services. This has in fact created a new segment in the BPO market known as the Internet-based BPO (I-BPO).

Undoubtedly, the e-business revolution has greatly accelerated the popularity of BPO. However, it is difficult to evaluate its true impact on BPO, as BPO is itself still in a maturing stage and is influenced by many factors beyond the new technological forces, such as globalization, shortage of skilled labor, consolidation of industries, pressure from competition, etc.

The BPO market is currently growing rapidly not only in the United States but also throughout the world, as more and more enterprises realize the advantages this tremendous business resource offers businesses.  TOP


PROCESSES THAT ARE STRATEGICALLY OUTSOURCED

Outsourcing entire processes brings with it big savings, mainly because of economies of scale, operational flexibility, competitive advantages and superior supplier expertise. A number of non-core functions like HR, finance & accounting and payment services provide strategic advantages when outsourced. The finance and accounting outsource space is currently exploding. More companies are either outsourcing entire finance and accounting functions or sourcing single functions like accounting payable. The figure reproduced below indicates processes currently being outsourced:


Outsourcing the entire enterprise is something that is quite possible today. This is because today's sophisticated IT systems are capable of processing nearly all facets of a business function. In addition, the BPO supplier market too has matured, with suppliers capable of handling all the functions of an entire business process using these sophisticated IT tools.


There are no barriers to what can be outsourced, provided you examine the following:

»Identify activities that are really core to the business and where it is necessary to invest money and keep them in-house.
»Analyze which non-core processes are not being managed efficiently and would gain from the expertise and leverage provided by a BPO outsourcing provider
»Study the effect of outsourcing one function on other functions of the organization to further leverage the benefits of outsourcing. For example, outsourcing the accounting function would mean less HR support, IT requirements and infrastructure needs. TOP


ARE YOU ABLE TO FOCUS ON YOUR CORE COMPETENCIES AND GROW YOUR BUSINESS?


Working with innovative techniques to create a better product or service and focusing on developing a better client relationship are ways of ensuring that you not only stay in business, but also expand it. In addition, it is also important to ensure the prudent utilization of limited resources for business processes that go towards creating greater shareholder value. However, focusing on the core functions to grow a business is only possible when you are confident that your accounting and other support functions are equipped with the necessary resources, technology and expertise not only to function smoothly, but also to handle the anticipated growth. These functions, if properly handled, enable a business to grow and have real time access to critical performance data needed to maintain a competitive edge in the market.

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SO HOW DOES A BUSINESS ENSURE THAT CRITICAL SUPPORT FUNCTIONS ARE WELL MANAGED WHILE IT CONCENTRATES ON ITS CORE ACTIVITIES?

C-Class Executives are faced with the following options:

Option #1: Assemble sufficient internal support to define solutions, redesign processes, upgrade systems                    and recondition and organize staff.

Option # 2: Enter into an alliance with a strategic outsource service provider, whose core competencies                       can support your vision and promote an environment of continuous improvement.


MORE C-TYPE EXECUTIVES ARE REALIZING THE VALUE OF FINANCE & ACCOUNTING OUTSOURCING
The worldwide BPO market (excluding manufacturing services) is expected to grow from $125 billion in 2000 to $301 billion in 2004 (Gartner Forecast). The below figure depicts Gartner's Worldwide BPO Market forecast by Geography, excluding manufacturing services.

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CHOOSING AN OUTSOURCE PROVIDER

Finally, choosing the right service provider is the key to successfully outsourcing a function and therefore requires careful consideration.

No matter what may be the motivation to consider outsourcing, you need to understand that not all outsource providers are alike. Some provide only basic document processing and bookkeeping services. For example, the provider's clerical staff will enter data into the accounting software you use, but will leave it up to you or your accountant to review the information and produce financial reports. Other outsource service providers may go a step further and perform more sophisticated accounting and reporting functions; such as generating flash reports and balance sheet analyses, thereby enabling you to have more control over your business at a lower cost than what you would incur towards performing these services yourself.

Below are some of the features that you should look for when choosing a provider:

»Level of expertise, resources, experience and facilities to deliver.
»Proven track record of effective governance model.
»Commitment to long-term relationships.
»Requisite quality control performance measures.
»Methodologies to enhance client control over business practices.
»Flexibility in service level delivery to match specific client situations.
»Technical resources appropriate to client outsourcing needs.
»Experience in client Industry.
»Experienced and quality oriented staff.
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THE Accounting Global ADVANTAGE

Accounting Global(AG) is an innovative Financial and Accounting BPO service provider that integrates high-tech document imaging with sophisticated business management software to provide comprehensive finance and accounting outsourcing solutions to enterprises using either its proprietary ITAccounts methodology, or customized solutions for larger enterprises.

Our unique product solution integrates high quality on-site staffing, web-enabled technology and offshore transactional processing. By combining these three components, we focus on providing you strategic, multi-process end-to-end business solutions that leverage our core competencies, thereby helping you build value.

One key element of AG's ability to cost-effectively deliver a high level of service is its integration of the latest document imaging technology and the Internet with cutting-edge enterprise class financial software. This enables you to have more control over your business for less than it would cost you to perform these services yourself.

In addition, unlike outsourcers that use clerical staff to process documents and post transactions, our team of highly qualified and dedicated professionals specialized in accounting, finance, technology and transaction processing oversee data entry, generate reports and provide workflow solutions that help you operate more efficiently. This higher-level of service digs deeper than just transaction processing. OPI works with you to analyze and reconfigure your entire business processes. You are assured that your documents are expertly processed and the financial information you get is complete, accurate and timely.

Perhaps even more important, our services are fully scalable. Depending on the pricing model you choose and the scope of services you elect AG to provide, you pay only on a transaction basis. So while you never have to invest in more capacity than you need, you'll always have all the capacity you need. And because we can take advantage of economies of scale and the latest technology, we can deliver these services more cost-effectively than other providers. Plus, by outsourcing your finance and accounting back office functions, you free up time, energy and resources to focus on what's most important - running your core business and satisfying your customers.

Accounting Global also offers a broader range of services than other BPO providers. And they are available on a menu basis, so you can have us deliver a few back office functions, or we can take on your entire financial and accounting operation. What we offer you is greater flexibility in the service offerings and a better product mix of high volume low risk transaction processing.

Our services include: general ledger processing, online bill payment, document imaging, invoicing, payroll recording, time tracking, bank account reconciliation, accounts payable/receivable processing, financial reporting and other back office functions.


AG's shared service facility in Bangalore, India, follows well-defined process workflows that are monitored through strong quality control certified procedures.

We currently operate through Europe , as well as our shared service facility in Bangalore, India.       TOP