Outsourced Finance Function
“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business” – Lee Kuan Yew
Why there is a shift towards outsourcing non-core functions?
The Corporate world is increasingly moving towards outsourcing their non-core functions. The main motivation behind this initiative is cost saving. However, recent surveys conducted by big four reveals that outsourcing / BPO (business process outsourcing) is also becoming a vibrant pathway for driving innovation into the enterprise.
Deciding which function to outsource varies from business to business and it mainly depends on how a business classifies various functions within the organization as core and non-core. Generally, the trend is to outsource the following non-core functions:
- Finance & Accounting
- IT Support
- Sales & Marketing
What benefits an outsourcing decision can bring to you?
No matter which non-core function is outsourced, it can bring following benefits to the business
- Time and cost saved from outsourcing non-core function can be allocated to functions that bring more money e.g. sales & marketing
- Services of a competent and professional staff can be utilized on need basis rather than employing and paying full time
- Inhouse staff has challenges on multiple fronts that not only cause distractions but also affect quality of work. Outsourced staff can work exclusively for tasks assigned and can produce better results
- Outsourced partner may have access to more advanced technological tools and software’s and can deliver desired results in a more economical, efficient, and timely manner
- Outsourcing brings scalability and businesses have the privilege to expand or reduce teams as the business grows or shrinks
- Small businesses can afford and enjoy the benefits of having a skilled team that earlier only big businesses had the access
If you are a new start up or are in the growth phase of your business and want to utilize all your energies and time to grow your business, outsourcing is the solution. Moreover, if accounting is beyond your expertise and you want a professional to come and take over this headache and assist you in managing your financial affairs then contact us to discuss how Devanch can assist you with managing your finance function.
Which finance areas you can outsource to us?
The team at Devanch carries years of experience in the field of finance and accounts both at local and international level. While working with Devanch, you will have the flexibility either to outsource your complete finance function or any of its sub-functions which may include but not limited to:
- Payroll & employee’s compensation
- Accounts payable
- Accounts receivable
- Fixed Assets management
- Inventory management
- Cash management
- Customer billing
- Financial & management reporting
- Taxation & compliance
We are helping businesses to save cost, bring innovation &
utilize professional staff.
Contact us today and we’ll tell you how we can do it.
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