Finance & Accounting Outsource Service– The leading KPO in India
Finance & Accounting BPO, FAO is a streamlined specialized job being outsourced to India in huge quantity. The trend is becoming more & more frequent to Indian BPO companies as most of the Banks, Investment firms, and Accounting firms are hurrying to outsource their services to India. As Indian BPO sector is specializing to KPO to focus on research oriented projects associated with specialized skills FAO has came to an automatic frequent choice to be outsourced to India. There are several advantages for outsourcing FAO projects to India as:
The very India Advantage! in BPO
- Performance acceleration by the KPO associates with specialized accounting software and seamless processes
- Access to the latest accounting software, or the project specific custom built applications.
- Plenty of access to VPNs, Firewalls and Antivirus software to ensure complete security and privacy of financial documents
- Excellence of any kind of financial services – book-keeping, payroll, tax processing, investment guide, insurance process, banking processetc.
- Flexibility of outsourcing on client specific terms
- Quality services at a price that is 40-50% lower than the current cost at home-land (developed countries)
- Advantage of staffing of favorable time zone.
- Experience of ensuring faster completion of work.
Discussing a few of the advantages in details as follows:
1. Improved Performance
By outsourcing financial services to India, the service providers can successfully reduce the headaches on related issues and increase level of performance – as staffing issues, outdated systems, undisciplined processes, or archaic software/tools. In India, state-of-the-art processing centers are ready to implement cutting-edge technologies, innovative process and value-added services to enhance the finance service performance. Most service providers contribute a smooth and continuous integration that accelerates the existing processes easily incorporated without loss of a single day.
2. Excellent pool of multi-skills
In India, accountants and finance service specialists are trained at using popular financial and accounting software. The service provider can integrate required data into any accounting software application of choice. The provider can also avail the processed data in any preferred format on an anywhere-anytime basis. Even the associates are skilled to work on any sort of custom-built CRM and specialized software. They are skilled to switch-over to any kind of software background and being equipped with these resources with multi-software skills, accounting and financial data management services in India is the best option the service provider can consider for his business.
3. Security and Privacy assured to protect the database
With relevant experiences with other BPO sectors India has developed such a technological advancement that any data transactions that happen over the Internet or LAN, will be kept completely secured and confidential, through the usages of VPNs (Virtual Private Network). Indian service providers also employ advanced security tools, such as, Firewalls and Antivirus software to ensure privacy in accounting and financial outsourcing services. There is always professional attire in authorized or selective access to the secret data ensures that only authorized accountants will be given access to a particular data.
4. Expertise across variant Financial Services
Only India, with its large pool of experienced accountants, financial experts, investment experts and research experts on this particular sector can give a good access to a variant range of financial services, like book-keeping, accounting, payroll processing, tax processing, investment guidance, insurance processing and a lot many more. The state-of-the-art accuracy in knowledge transfers, expertise in migrations process and efficient real-time process monitoring, the service provider can only expect a zero error finish in accuracy in financial services outsourcing.
5. Flexibility and proper time management skill
If, a financial service project is outsourced to India the provider can easily choose the volume of business activity he wants to offshore and when. The service provider can outsource entire or partial stall according to his financial and accountings requirements for the time being, or can even outsource only a basic service like book-keeping. As customizable options for the financial services outsourcing is available always, the service provider can save on cost, as he has to pay only for what he wants or uses.
6. Pay less, get more skilled labor
Since there is a large pool of professional accountants and other financial experts available in India, the cost of labor is much lower when compared to developed countries like USA, UK or other parts of Europe. Financial requirements outsourced to India can put you in contact with experienced Chartered Accountants and financial experts of other faculties with computer fluency and a good command over English. There is simply nothing to worry about the quality of work, as Indians have won the familiarity as dedicated, skilled and quality conscious to the outsourcing work.
7. Favorable time zone
The time-zone difference (12 hours) between India and mostly outsourcing western countries has made India a strategic hub, capable of delivering services within 24 hours. While outsourcing to India, the work could be sent at the end of the workday and stay rest assured of receiving the completed work by the very next morning. This is nothing but a definite advantage over competitors as India is shining more and more as a specialist KPO – FAO hub.
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