Introduction

As a value added service to our web-based financial accounting application, we can offer our customers accounting outsourcing services. With a per seat monthly cost, we will provide a full time accountant dedicated to processing outsourced accounting entries. All reports can be delivered via the web using our existing application platform and reliable delivery infrastructure.

This service is specially useful for mid to large size accounting firms that wish to reduce staff overheads by outsourcing non-critical accounting functions such as data entry.

Harnessing the expertise gained through the process of developing a robust web-based accounting application, coupled with the advantage of having presence in India, a highly attractive center for back office and call-center solutions, we are in a unique position to offer Financial and Accounting BPO (Business Process Outsourcing) and Call-center Solutions to customers at a very reasonable price.

Whether you are an accounting company or a large corporate, you can expect up to 80 percent savings by outsourcing to India which has obvious cost advantages.

If you are an existing call center or Financial and Accounting Services company, we can help you setup a call center facility with the necessary software and delivery infrastructure in India.

For further information and business queries, please click here

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How It Works

You must first either subscribe to our online accounting software service or purchase our software. Our BPO services are a value added service to the software. One of our trained representatives based in India (New Delhi), will be your dedicated Accounts Manager.

This individual will be solely dedicated to working on your accounts and will have in depth knowledge of accounting principals as well as our software. He/She will have a 7:30 hours workday and timings can be adjusted to suit your Time Zone.

Communication will be through the use of very cost effective modes using -:

  • MSN Chat
  • MSN Voice Chat
  • Email
The assigned representative will be available at your service 100% on chat and voice during the designated 7:30 hour work shift. He/She will be your virtual employee.

We can receive relevant data from you as follows-:
  • Pre-defined excel, csv or other digital format
  • Scanned documents via email or ftp
  • Courier or mail
  • Faxed documents directly reach our email Inbox

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Financial Model

An in-house bookkeeper probably costs the average business about $2500 per month in gross salary. Add to that the taxes, insurance and other overhead items - coming up to roughly $48,000 per year. This estimate represents payroll and associated cost only, and does not include the investment in hiring, training and management.

**Figures in US$ for US companies and Singapore Dollars for Singapore companies

  Personnel Labor Cost

Monthly

  Associated Overhead

Monthly

. Salary

$2,500

. Taxes @ 20%
. Overhead @ 20%
. Insurance @ 20%
. Total Monthly Cost

$ 500
$ 500
$ 500
$1,500

  Annual Cost

$30,000

Annual Cost

$18,000


Our very reasonable combined monthly cost will cover -:
  • Hardware Infrastructure for 1 seat
  • All required software infrastructure for 1 seat
  • Internet and communication Infrastructure
  • Monthly salary of the virtual employee

    Expenses Not Covered :
  • Subscription service to our accounting software
  • FTP account for data transfer (if needed)
  • Dedicated email account for large attachment transfers (if needed)
The following projected savings are only staff related savings. To arrive at gross savings, you can add to it the cost of savings in terms of software, hardware, networking and other IT infrastructure costs such as IT manpower and maintenance.


**All figures in US$

  Personnel Labor Cost

Monthly

  Associated Overhead

Annual

. Contract Payment

$500

. Communication
. Miscellaneous

$1500
$500

  Annual Cost

$6,000

Annual Cost

$2000

  Savings (S$ for Singapore) = S$ 34,000 i.e 48,000 - (8,000 x USD Exch. Rt. of 1.73)
Savings (USD for US) = USD 40,000 i.e. 48,000 - 8000

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Advantages
  • Outsourced accounting employees are up to date with latest software releases and functionality
  • Outsourced accounting employees cost much less than employing an in-house resource
  • Outsourced accounting employees are never off sick
  • Outsourced accounting employees don't take holidays
  • Outsourced accounting employees don't complain about working conditions
  • Outsourced accounting employees are not in the union
  • Outsourced accounting employees do not require a company car or a mobile phone
  • Outsourced accounting employees don't get maternity leave
  • Outsourced accounting employees can be laid off when work is quiet
  • Outsourced accounting employees pay for their own telephone charges
  • Outsourced accounting employees buy their own software

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All The World's a Call-Center (Business Week, October 27 2003)
Outsourcing doesn't just save cash. It can lift quality


Outsourcing jobs is a touchy business. Executives would rather not talk about the job losses at home, preferring to focus on the cost savings. Here's another thing they don't like to talk about: those manning the phones at call centers overseas often provide better customer service than their American counterparts. That's especially true in India, now by far the most popular destination for offshore customer service jobs. An exec at one multinational gloats that everything from customer satisfaction to error rates are vastly better. "But we'll never talk about that for competitive reasons," he adds.

Call it a hidden benefit of globalization. Certainly, companies try to maintain high quality at every call center -- whether it's in the U.S. or abroad. But knowing that such front-line workers can make or break a customer relationship, many say they find it easier to get consistently fast, efficient, and courteous service from employees overseas.

Why is that the case in India? For one thing, such workers are better educated than their U.S. counterparts. According to Elio Evangelista, a senior analyst at independent research firm Cutting Edge Information, virtually all Indian call-center workers have college degrees. By contrast, many of their American counterparts are high school grads. More education can be helpful as consumers increasingly need complex technical or financial information.

More important, call center work is considered a lucrative, successful job in India, not a dead end. That often translates into a more helpful, friendly phone manner. Patrick Hanlin, CEO of LiveBridge Inc., a Portland (Ore.) company that handles customer service for major corporations worldwide, says he gets 80 applications for each position in India and about four in the U.S. Moreover, only a fraction of his Indian employees leave each year; annual turnover at U.S. centers is six times higher. That means Hanlin's training dollars go further because his employees stick around longer to apply their customer service skills.

For now, the outsourcing debate is focused mainly on lower costs and lost jobs. But for many companies, tapping into a large, educated talent pool and a strong service culture can mean a better experience for customers back home. As Hanlin says: "Consumers care about how well their call is handled, not whether it's answered in Little Rock or New Delhi." Clearly, the benefits of globalization can extend well past the bottom line.

By
Diane Brady

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Outsourcing For Skilful Delivery

...Accenture surveyed 236 CEO's, CFO's and other senior executives and interviewed 40 leading finance officers in all major geographies of the world and across a wide range of industries and company sizes. The research found outsourcing on everyone's agenda. Many executives believe that back-office functions, such as finance and accounting, become prime candidates for outsourcing.

Specifically, of the survey respondents:
  • Seventy-three percent of the executives expect finance & accounting outsourcing to increase over the next three years (similar to Europe and North America).
  • Twenty-nine percent of Asia-Pacific organizations currently outsource some finance and accounting functions.
  • The majority of executives-62 percent-consider their F&A outsourcing arrangement as successful or very successful.
  • Routine, transaction intense tasks are first to outsource, with payroll as a common starting point.


Further research pinpoints transparency, flexibility and business continuity as being positively affected by finance and accounting outsourcing.

Download Detail PDF Article by clicking here (Source: Accenture.com, 1.7MB)

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U.S To Double Offshore Tech Services? (CNN.COM, Sunday, November 23, 2003)
NEW YORK (Reuters) -- U.S. technology services market will double its usage of low-cost countries next year, but much of the work will still be captured by U.S. providers as they beef up their operations abroad, market research firm IDC said.

The offshore spending component of the U.S. technology services market will rise to 10 percent of the total spending, or $16.3 billion, in 2003. IDC also expects offshore spending to more than quadruple to $46 billion, or 23 percent of the total, by 2007.

Indeed, much of the U.S. services market growth, projected by IDC to be 6.1 percent a year, will ultimately be delivered by workers in countries such as India, China and Russia.

In contrast, work being done domestically will increase merely 3 percent in the next four years.

"The immediately reaction to this data might be to declare both demise of United States-based vendors and a stagnant U.S. job market," Ned May, author of the study, said this week.

"However, though the delivery of IT services will increasingly come from offshore, much of the spending will continue to be captured by locally based vendors who build up their offshore delivery resources," he said.

Last year India's top five technology firms generated more than $3 billion in revenue, with the majority originated from the U.S. market, as cost-conscious companies increasingly demand offshore component in every deal they sign, IDC said.

U.S. services companies, such as Accenture Ltd., Computer Sciences Corp., Electronic Data Systems Corp. and BearingPoint Inc. also experienced higher outsourcing demand, though pricing pressure continues.

"They are all aggressively building their own global offshore capabilities," May said. "They will continue to be successful players."

The offshore sourcing trend will have the largest impact on maintenance and support activities, with almost 27 percent of the market spending going abroad in 2007.

In comparison, information technology education and training will remain relatively resilient against the wind, the study said.

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