Organizations seek effective finance and accounting trends, ways to reduce operational costs and gain competitive advantage in the market today by transferring their processes.
2014 expects a 56% growth in the sale of BPO services in the first three months of the financial year.
According to research conducted by the research firm that governs itself, strong developments are estimated in the process of outsourcing business. The global market shows an estimated opportunity level of US $ 150 to $ 200 billion in finance and accounting.
Back in 2010, most industries shifted to finance and outsourcing accounting were retail, manufacturing, travel, financial and logistical services. These sectors accounted for around 70 to 75 percent of total expenditure. Other industries explore the scope since then includes the buying & sale of real estate / property, medical, banking and IT companies.
Financial & Accounting solutions also take into account the payroll process, accounts receivable, and outsourcing debt. The development trend that develops in this sector is financial planning and business analysis.
Reducing costs and increasing business productivity has always been the focus of organizations operating in this field. At present, see more than a reduction in the cost of emphasis shifts to create a new revenue stream. Potential BPTOs must make the progress of the performance metric that should be considered while dealing with the great story of inefficiency. Furthermore, this moderate financial risk and ensures compliance with developing regulatory norms.
Outsourcing organizations are ready to improve financial functions and meet client’s challenges, propose the best financial & accounting solutions for the industry. In the virtue of accelerating financial growth without placing organizations into many risks, BPP plans to provide sustainable development while surviving to utilize labor and innovation.
Getting better insight into business performance and maintenance, shared service providers can provide great support to prepare revenue growth plans. This outsourcing company operates as a comprehensive partner supporter, manages and executes financial related functions that include the following:
Reporting & Compliance.
Budgeting & estimates
Financial service providers encourage the implementation of strong process improvement mechanisms that manage monetary risk and regulations, contribute to business growth while maintaining costs.
Such enhanced economic methodology does not only help businesses increase efficiency but also, also encourages value through enhanced main performance indicators such as profit recovery, DSO, etc.
Adding business value, service providers work to bring increased processes to organizations that lead to greater profits than their annual convention value. The organization is beneficial as an increase in account map which causes a decrease in the month-end closing cycle by 10%. The company obtained business efficiency of up to 30% more during their working period from the outsourcing process.