z Outsourcing - ENM Global

Outsourcing

EM has over 25 years' experience in providing outsourced accounting and business process services to a wide variety of Indian and foreign clients. The key services provided include :

Accounting
Payroll
Direct and Indirect Tax Compliances
Business Processes

Client Advantages

Outsourcing advantages to clients are numerous.

Indian 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

Foreign Companies

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, annual closing, regulatory filings etc.	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.
Payroll	Tax Plans, Payroll Calculations, deductions, IT, payments, TDS certificates, annual returns etc.	Diverse
Reconciliations	Debtors' Reconciliation Creditors' Reconciliation Bank Reconciliation FD Reconciliation HP/Lease Reconciliation R&T Reconciliation	Diverse
TDS/Withholding Tax	Checking deductions, making payments, issuing certificates, filing returns	Diverse
Project Accounting	Financial analysis for project accounting	A USD 400 mn. plant of a multinational.
Inspections	Asset Inspections Import Inspections	Commercial Bank
Factoring Audit		Commercial Bank

Site

Depending on requirements, the services may be provided “on-site” i.e. at client location or “off-site” i.e. managed from our offices.

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