Outsourcing Accounts Payable processing India|Outsourcing Accounts Receivable processing India|Outsourcing Invoice processing to India

 
     
  What does BPO stand for? What does it mean?  
 

BPO stands for Business Process Outsourcing. Major corporations in the US and Europe are outsourcing their back office and non critical operations to India to save costs. E.g. accounting processes like bank reconciliations and invoice processing for many large companies are being performed in India

 
     
  What processes/functions/areas fall under BPO?  
 
The range of processes getting outsourced is constantly evolving. Currently accounting, financial services, customer care, payroll, research, basic design and legal services are being outsourced to India.
 
   
  What does KPO stand for?
 

KPO stands for knowledge process outsourcing. Increasingly BPO is getting differentiated into strata based on the level of skill and knowledge required for the job. As one moves towards KPO, the employee skill levels required for the processing increases. Some examples of KPO include business research, financial modeling exercises and legal research among others.

   
  What does finance and accounting outsourcing mean?
 
Finance and accounting outsourcing refers to outsourcing of accounting processes like accounts payables processing, invoicing, accounts receivables processing, bank reconciliations, general ledger maintenance, fixed asset accounting, finalization of accounts, financial reporting and filing of tax returns
   
  How does accounting and outsourcing happen?
 

We receive source documents like scanned invoices, bank statements, checks slips, and intermediate accounting statements depending on the outsourced processes. These documents are then processed by our staff based in India either by remote accessing client servers, third party servers (like Intuit servers in QuickBooks online processing) or at our office in India. The final output is then uploaded back on the clients server/emailed to the client.

   
  Isn’t there a data security issue risk in outsourcing?
 

Multiple steps have been taken to ensure high data security at each stage. Remote access is done using a secured online connection (128 bit encryption, similar to the technology used while processing online transactions). Further extensive security measures are taken at our workplace. For more information click here

   
  Can you work on QuickBooks, Peachtree and other accounting packages?
  Our staff is trained on QuickBooks (Pro and Premier versions), Peachtree, Sage Line 50 and Great Plains among other packages
   
 

What is the turnaround time for outsourced processes?

 

Specific commitments can be made only after studying the outsourced volumes and complexity of outsourced process. But studies have shown that, outsourced processes match or better the efficiency of onshore processes.

   
   
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