E&M
has over 15 years' experience in providing outsourced accounting
and business process services to a wide variety of Indian
and foreign clients.
Client
Advantages
Outsourcing advantages to clients are numerous.
Indian
Companies
Foreign
Companies
Specialised knowledge
Continuity
Transfer of Best Practices
Obviate the need to hire long-term staff for short-term
or seasonal needs
Easier way to cope with seasonal peak loads and/or
backlogs
Arrangement Flexible/Terminable. No long-term
commitment
Better correlation between cost and benefit
No hidden costs
Administratively simple. Contractual arrangement.
Employee relationships, on the other hand, bring
several industrial regulations into play
All advantages as in case of Domestic Companies. Additionally;
outsourcing will be significantly cheaper in case of
foreign companies. Besides, in view of their lack of
familiarity with local conditions; entrusting work to
a professional accountancy firm provides greater assurance
vis-à-vis entrusting it to an individual employee. Employee
turnover creates loss of continuity and, more importantly,
loss of accountability.
Actual
Examples
There is no such thing as a typical
client size. We provide outsourcing services to organisations
that range from quite small (small advertising company, a
mid-size merchant exporter etc.) to very big (multinational
pharmaceutical company, foreign bank, manufacturing company
with thousands of employees, USD 100 million new plant etc.)
The assignment sizes vary. Those range from "one-man" assignment
to those that require 15- strong team, working full time.
Illustrative examples of actual assignments are as follows.
Outsourced
Activity
Description
Client
Type
Turn-key
Accounting
Turn-key accounting, financial and tax services. Including
various statutory registrations, sales-tax, profession
tax, temporary funds deployment etc.
In these cases, the respective organisations do NOT
have any Accounts/Finance Department.
Liaison offices of foreign companies, subsidiaries of
foreign companies, merchant exporters, service companies,
real estate companies.
Internal
Audits
Normally, the entire function is outsourced to us. Occasionally,
we supplement the efforts of an in-house Internal Audit
Department.
Diverse - Manufacturing, service and trading companies.
Business
Processes
Several
such as :
Purchases & Bills payable;
Field Force Travel Claims processing;
Employee Benefit Claims processing;
Logistical Costs (Freight) Bills;
Budget Monitoring;
Financial Analysis;
MIS;
Invoicing & Bills Receivable;
Credit Control;
Group Reporting;
Provident
Fund (Pension Fund) Accounting
Day-to-day
accounting including :
Loans
Settlements
Forfeitures
Interest calculations
Investments
Income-tracking
Finalisation
Large manufacturing company with 6,000 employees, small
housing company with 50 employees.
Fixed
Assets
Creation & Maintenance of Fixed Asset Register (FAR)
Computerisation of FAR
Physical Verification of Fixed Assets
Designing assets numbering schemes
Large manufacturing companies. Locations include factories,
depots, warehouses, offices etc.
