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 :
Foreign companies is the market segment most comprehensively served by EM – providing accounting Services, CFO and compliance services to their subsidiaries, joint ventures, liaison offices, branch offices, representative offices etc. The numerous advantages for them are enumerated below but the key ones are:
Numerous advantages to clients - Accounting Outsourcing
• 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. Regulatory risks are better managed.
There is no such thing as a typical client size. EM provide outsourced accounting and compliance 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. |
| Payroll | Tax Plans, Payroll Calculations, deductions, IT, payments, TDS certificates, annual returns etc. | Diverse |
| Reconciliations | Multinational Group - inter-company Reconciliation Debtors' Reconciliation Creditors' Reconciliation Bank Reconciliation FD 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 |
Depending on requirements, the services may be provided “on-site” i.e. at client location or “off-site” i.e. managed from our offices.
