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Call Center Services » BPO Services » Financial and Accounting Services

Financial and Accounting Services

India is known for having both cost as well as technical advantages when it comes to outsourcing IT services and processes. India has emerged as one of the most preferred country for outsourcing various services globally. These include supply chain management, sales, marketing, customer care, Human resource etc besides Financial and Accounting services

The BPO industry is well established and thriving. It is respected globally for provision of quality service at significantly lower costs with world-class infrastructural facilities and the advantage of 24x7 work environment.

Corporates are in need of focusing their limited resources on core competencies and outsource their non-core processes. A large number of companies are outsourcing their financial and accounting processes to not only reduce costs but improve their competitiveness. Fluctuating financial markets have further pushed the companies to this end.

Advantages of outsourcing Financial and accounting process by a company can range from improved financial efficiency to reduction of investment risks, to keeping a track of accounts payable and receivables and better tax planning.

Various financial services offered by Indian BPOs are:
Accounts Payable: The process helps client to track payments originating across different locations and in different currencies. It helps to efficiently settle payment issues with vendors.

Accounts Receivable Management: The process includes managing as well as tracking the client's receivables in different locations. It also helps to manage the limit of credit extended by the client.

Tax Processing: The process includes keeping proper tax data and auditing it and also maintenance of various documents and forms relating to taxation.

Cash Management: The process includes checking the cash flow statement of the company. It also includes checking the liquidity of the company, managing current assets like cash, inventories, bills payable and receivables etc.

Risk Management: The process includes services like monitoring the risk factor of various investments, looking after the returns, looking after at the viability of projects a company undertakes. It also includes making quarterly reports of investments and sending it to the company.

Claims Processing: The process includes checking of documents supporting the claim, storing online data of claims and their redressal.

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