Business Process Outsourcing & Shared Services
The rationale and advantages of Business Process Outsourcing (BPO) are: -
Advantages of BPO
Focus can remain on core business activities, Off-site backup of data, Competitiveness is enhanced, Cost structure becomes variable, Inside resources are freed for other purposes, Operating expenses are reduced and controlled, New ideas are acquired, Investment in asserts is lowered, Risk reduced
Markets are consolidating in efforts to increase efficiency with ever tightening budgets. Cost minimization is now a top priority for all businesses especially in the current economic scenario.
Private & public sector organizations are turning to business process outsourcing and shared services to handle their back office functions amidst constraints on their available resources. Focusing on the business areas that they know best and delivering a smooth and seamless service to customers through streamlined operational and business processes.
ABGS enables these organisations to focus on their core business through the utilization of our business process outsourcing and shared services by delivering support services effectively. Through a seamless implementation of our services the organisations reap the full benefits covering wider standardisation of processes at reduced costs.
The Accounting Outsourcing and Shared Services include:
- Periodic accounting and book keeping services
- Preparation of reconciliation accounts – receivables, payables, cash and bank reconciliation
- Fixed assets accounting, fixed assets reporting, employees expense claim processing, invoicing and credit management
- GST accounting and reporting
- Preparation of financial statements on a monthly, quarterly or yearly basis
- Statutory and Regulatory reporting
- Computing key ratios, financial planning and analysis, coordination of budget preparation
- Payroll and HR administration
- Registration with EPF and SOCSO including making periodic payments to the relevant agencies
- Prepare yearly Form E and EAs for employees
- Assist clients with complex accounting reconciliation assignments
- Administration and back office support services
- Secondment and placement of accounting and finance staff on a permanent or temporary basis