Finance and Accounting is critical to support organizational strategic goals. Unfortunately, F&A depends on a very high volume, labor-intensive, routine tasks. Consider common F&A tasks: processing expenses, generating client invoices, financial reporting, collecting receivables, accounts payable, fixed asset tracking, and general ledger entries.
Many F&A departments spend most of their time on this constant stream of work. This focus on the routine distracts from a strategic focus on improving the organization’s financial performance. Managers and analysts spend most of their time supervising staff and dealing with the daily problems of high volume production work. This leaves little time to fulfill important ad hoc reporting requests or to work on strategic initiatives. For example, developing and managing a strategy to hedge against exchange rate risk is hard in the face of assuring that hundreds of customized bill formats are generated correctly.
Integreon’s outsourced F&A services offer many benefits:
- Strategic Focus. Free managers to focus on higher value initiatives.
- Cost Savings. Outsourcing can also save up to 50% of the cost if the offshore option is elected. Skilled accountants in Mumbai, New Delhi and Manila cost much less than in the US or UK. Integreon employs many highly trained and skilled accountants and financial professionals in India. They specialize in accounting and we provide client-specific training. Firms can save up to 50% per full-time equivalent employee outsourced
- Process Improvement. Outsourcing is not just about moving work to low cost locations. Integreon works closely with customers to analyze work flows, determine the best location to perform work, and streamline the entire work flow. This often results in additional signficiant savings.
The mechanics of outsourcing are easy. Most multi-office organizations already centralize the bulk of routine F&A in one office. As with any already centralized function, outsourcing is relatively straight forward. If F&A is not already centralized, Integreon helps you accomplish this and outsource at the same time. Our domestic account implementation teams work onsite, study your systems, develop a transition plan and ensure a smooth transfer of work.