Outsourcing
Outsourcing is the contracting of a company's vital but non-core business processes to an outside professional service provider.
The peace of mind that comes from entrusting business processes to specialist outsourcers allows companies more freedom to innovate and specialize, pursuing excellence in their field.
Accounting and Financial Outsourcing is the management of the day-to-day accounting and financial functions of the company including;
- Data Entry
- Sales and Purchase Ledger Control
- Debt Collection
- Payroll Administration
- Pensions
- Plus all other accounts department activities
Benefits of Outsourcing
- Cost Savings;
- Frees up office space and storage for use by operational personnel.
- Reduces computer and software purchases and annual support charges
- Reduces annual accountancy and audit costs
- Reduces telephone and utility costs
- Reduces employee costs; national insurance, employee errors or fraud, recruitment fees and staff training, redundancy, unfair dismissal & other disciplinary procedures
- Allows Management to concentrate on Core Activities to;
- Focus on sales & market share
- Develop new and existing products
- Expand into new markets
- Enhance customer service
- Reliable & Timely Management Information;
- Quick access to up-to-date and accurate information
- Reliable delivery of reports
- Dedicated client manager available to deal with queries
“Business Process Outsourcing is becoming the new business model for managing corporate change and growth. It enables companies to shatter the boundaries of their traditional businesses and to build long term strategic partnerships with outside professional service firms”
John Barnsley, Global Leader of PWC worldwide BPO practice