BPO Accounting

Transaction Processing

2009-02-27T13:23:00.003+05:30

Application receipt
Account opening
Accounting entry
Data input
System operation
Statement generation
Account administration
Database maintenance
Billing & invoicing
Payment processing
Tracers

Our Services:

2009-02-27T13:17:00.001+05:30

Search Engine Optimization (SEO)
Internet Marketing
Link Popularity Building
Online reputation management
Social Media Optimization and
per click advertising campaign
Banner Advertising
Email
and press release creation and syndication in online Media.

Internet Marketing and SEO Service

2008-11-07T18:06:00.000+05:30

Internet Marketing also referred to as online marketing or e-marketing is the marketing of products or services over the Internet. Internet Marketing methods include search engine marketing, display advertising, email marketing, affiliate marketing, interactive advertising, online reputation management and also social media marketing methods such as blog marketing and viral marketing.
Internet Marketing strategy includes all aspects of online activity that promotes a company online, including website, blog sites, article and press releases, online market research, email marketing and advertising (ppc /banners etc.)
Through SEO process companies can make appropriate changes to their website so that various Search Engines and Visitors coming through search engines can access company’s website easily.

Our Services:

Search Engine Optimization (SEO)
Internet Marketing
Link Popularity Building
Online reputation management
Social Media Optimization and marketing
Pay per click advertising campaign
Banner Advertising
Email Marketing
Article and press release creation and syndication in online Media.

Benefits of Outsourcing Budgeting Process

2008-11-07T17:22:00.001+05:30

Better forecasting with the help of advanced technological tools, help to reduce financial risks associated with production, sales.
Better forecasting and analysis of budget helps management make sound financial policies.
Use of budgeting software helps in saving time and associated costs.

Types of Outsourced Budgeting Process

2008-11-07T17:20:00.000+05:30

Sales Budgeting: Companies outsource their sales budget to forecast their sales revenue. Budgeting software helps in better forecasting as a comparison between the past sales and the present can be easily done.
Production Budgeting: This kind of budgeting entails confirming whether the current production level will meet the current demand. It also involves either increasing or decreasing the production, after analyzing the past and the current trend of demand.
Capital budgeting: Deals with the valuation of real assets. It is the process of determining whether or not projects such as building a new plant or investing in a long-term venture are worthwhile. Outsourcing capital budgeting process helps to analyze better if a project will be financially viable or not. It helps to know the real and the present value of an fixed/long term asset. It also helps to know what the returns will be like and when the break even will be achieved.

Why Outsource Work?

2008-11-07T16:46:00.000+05:30

The industry trends show that companies that have been asking the question about outsourcing have become vocal advocates of the offshore outsourcing for business outsourcing, outsourcing work and call center outsourcing. Outsourcing work has come to be a tried-and-tested model and is recognized as a long term competitive strategy for success in outsourcing services. The question going around now is about it outsourcing, human outsourcing resource, offshore outsourcing and outsourcing solution services.

Course Overview of the Accounting and Finance

2008-11-07T16:35:00.000+05:30

This Accounting and Finance degree is an excellent springboard from which to launch a professional career in accountancy or finance.
The accounting and finance course is designed to provide you with a stimulating intellectual experience in order to foster a broad vocational accountancy education. The structure of the course is highly innovative and there is a paid placement opportunity for students embarking on the Honours route. This has proved extremely popular with both students and employers alike.
The benefits of your studies will gain you:

accountancy and finance knowledge and practice
problem solving and decision making skills
a 12 month placement opportunity
external recognition for experience gained
international exchange and study overseas opportunities
accreditation opportunities to professional bodies

FINANCE & ACCOUNTING OUTSOURCING

2008-11-07T13:32:00.000+05:30

Outsourcing Service
Managing efficient accounting processes is one of our core competencies. At Core3, our accounting experts provide our clients with timely and accurate financial information and analysis critical to strategic decision-making. Whatever your back office needs, Core3 delivers the right information at the right time. Core3 is able to perform most accounting functions, including:

General Accounting
Accounts Payable Processing
Vendor Management
Billing & Collections
Cash Application
Fixed Asset Accounting
Financial & Operational Reporting
Project Accounting
Account Reconciliation & Analysis

What is the role of Banking BPO in India?

2008-11-07T13:09:00.000+05:30

Answering the need of time, companies in India are providing many BPO banking services. Their main focus is on speed of implementation and process advancement with quality control. Banking BPO in India is providing various services like loan mortgage, consumer finance and financial market and credit cards. Banking is no more than just a place for financial transaction but involves many vertical functions of Banding BPO in India..

The major solution Banking BPO in India provides is as follows:

Recording
Client Verification
Paying off Loans
Collections
Telemarketing service
Processing addresses
Request customer Services
Resolving queries
Responding to client via email or chat

The major challenges faced by Banking BPO in India companies are as follows:

Apparent lack of managemen
Service agreement disagreement
Efficient management
Risk Management
Privacy ownership of client
Incorporation of outsourced processes with business processes
Effectual Control
Mortgage Lending

Why Compass BPO?

2008-11-07T12:49:00.000+05:30

One group finance director says, "Compass has enabled us to streamline our reporting processes and reduce timelines with a benefit to us and our clients both in terms of speed and quality of reporting. In addition, we now have a scalable resource, which means that we can take on new large contracts without concerns over resource and timing. We see Compass as an integral part of our business and a selling point when we tender for new business."
Excellent and quality service provided in a friendly, polite and professional manner is the main focus for Compass. We build trust-based partnering relationships with clients. Our well documented service implementation and processes help in continuous improvement and give value-added service.
Our extensive outsourcing experience means we have a satisfied customer base, which has trusted us with more and more processes after starting with a discrete process. Compass has proven experience across multiple industries and processes. We drive business impact through operational excellence.
In addition, we have vast experience with SAGE, Costpoint, Yardi, and various payroll software applications.

Benefits of outsourcing.

2008-11-07T12:44:00.000+05:30

Cost effective
Responsive to business needs
Timely and accurate
Adds professional touch
Potential revenue growth

Cybelink Small Business Accounting BPO Methodology

2008-11-07T11:49:00.000+05:30

Cybelink small business accounting BPO methodology developed exclusively for small business owners and CPA firms. It helps us to identify, plan, execute, and deliver the accounting business processes to our customers securely and efficiently. Based on our client’s needs Cybelink will use either all the phases or a specific phase of the methodology in our outsourcing engagements.
1. Accounting Business Process Discovery
In this phase we work with small business owners or CPAs to understand their accounting outsource needs and identify accounting processes that needs to be outsourced. At the end of this phase our customers will have an overall understanding of our accounting processes to be outsourced to satisfy their unique requirements.
2. Feasibility Study & Planning
In this phase we work with our customers to create various accounting process flows and prepare process integration plan between the internal accounting processes and the outsourced accounting business processes. We will also identify small business accounting software, security requirements and hardware storage needs for the project. This helps our clients to understand secure account data transfer requirements and data storage needs for the project. At the end of this phase we will present the entire solution and the cost of the project to our clients.
3. Accounting business Process Execution
Once we get the approval from our client, we will execute the work in our offshore locations. During this phase we will coordinate with our customers extensively for quality check and send sample work for approval. We will also report the project status regularly to our customers. Any changes and process fixes will be incorporated into our solution for final delivery.

Different Costs of Offshoring Financial & Accounting Work

2008-11-07T11:41:00.000+05:30

Often times when small businesses consider offshoring their work, they will consider only the hourly rate they need to pay to the offshore vendor for various accounting works like bookkeeping, accounts payable, accounts receivable, etc. Though the hourly rate is the direct cost small business will pay to the offshore vendor, there are several other additional hidden costs small business will incur in their offshore outsourcing engagement. Typically a small business goes through following offshore accounting work cycle in their offshore engagement:

Selecting an offshore accounting vendor
Sending the work to the offshore vendor
Answering questions for the offshore vendor
Receiving the finished work from the offshore vendor
Verifying the finished work from the offshore vendor
Monitoring the quality of the finished work from the offshore vendor

Small businesses go through the above steps when they outsource their financial and accounting work either to an onshore vendor or to an offshore vendor. But there is significant costs difference when the work is performed in onshore Vs offshore locations. For example when on onshore vendor performs the work, then small business can meet face to face with the onshore vendor, explain what needs to be done and handover the accounting and financial documents. The onshore vendor will finish the work, meet face to face with small business customer to deliver the finished work. The other alternative for small business is to either use courier service or UPS to send the accounting and financial documents to the onshore vendor and they can communicate over the phone regarding what needs to be performed. The small business cannot use any one of above mechanisms when working with offshore vendors in a cost effective way. For one thing, the offshore vendors will be physically located in a different country and there are significant culture differences that will exist between the small businesses and the offshore vendors. Finally both small businesses and the offshore vendor will be in different time zones. So the small business cannot use the same mechanisms that they used in dealing with onshore vendors. Small business needs to use High speed Internet connection and other related software, and hardware technology infrastructure to work with the offshore vendors. All of these can be done in cost effective way and small businesses can save significant cost in working with offshore vendors.

How Cybelink Secure Accounting Outsourcing Works?

2008-11-07T11:23:00.000+05:30

Cybelink secure accounting outsourcing is based on our comprehensive security infrastructure that facilitates all your data to be transferred and processed securely in our offshore location. By using Cybelink secure accounting outsourcing at any point of time your data, whether it is transferred from one computer to other via Internet or if is stored in Cybelink's computer it will be safe and secure.
Using Cybelink secure accounting outsourcing you can use any one of following two simple methods to give access to your accounting documents for Cybelink accounting professionals to work on it.
For both the methods specified below you do not have to buy any new software or change your computer infrastructure. Cybelink will provide all the necessary software and guide you through the entire process for you to send all your accounting data securely.
Method One: Secure File Transfer
Step 1: Customer sends all their accounting documents Scan all your documents and upload the files to Cybelink server securely using secure FTP software. OR Fax all your documents to Cybelink. OR Email all your documents to Cybelink.
Step 2: Cybelink downloadsCybelink downloads all your documents securely from Cybelink's server into their computer.
Step 3: Cybelink processes Cybelink processes your documents using our own copy of the accounting software as per your instructions and generates completed files from the accounting software.
Step 4: Cybelink Uploads Cybelink securely uploads the generated accounting files back to Cybelink's server.
Step 5: Customer Downloads Customer downloads all the processed accounting files from Cybelink's server securely and imports them into their accounting software for verification

IT Outsourcing

2008-01-07T14:46:00.001+05:30

is using outside vendors to create, maintain, or reengineer IT architectures and systems.

treasury outsourcing

2008-01-07T14:45:00.001+05:30

The contracting out of parts of an organisation's treasury activities to third parties in order to reduce costs and to benefit from the expertise and high quality of treasury services offered by outsourcing providers.

Open Outsourcing

2008-01-07T14:44:00.001+05:30

Open outsourcing is a socioeconomic movement resulting from the marriage of the open source movement and the recent trend towards the international outsourcing of programming.

Offshore Outsourcing

2008-01-07T14:43:00.000+05:30

Offshore outsourcing is the practice of hiring an external organization to perform some or all business functions in a country other than the one where the product will be sold or consumed. It can be contrasted with offshoring, in which the functions are performed by a foreign division or subsidiary of the parent company. Opponents point out that this sends work overseas, thereby reducing domestic employment. ...

Hosted outsourcing

2008-01-07T14:42:00.001+05:30

Complete outsourcing of a company's information technology applications and associated hardware systems to an ASP.

Financial outsourcing

2008-01-07T14:33:00.003+05:30

Business unit of the GFKL Group which covers the business areas credit and securities management (Proceed Portfolio Services GmbH), sales of securities and returned leasing objects (Proceed Asset Trading GmbH), purchase and bundling of receivables portfolios for securitization and placement on the money or capital markets as part of ABS transactions, and purchase of credit portfolios with payment irregularities (Proceed Securitization Services GmbH), collection of receivables inventories ...

outsourcing r&d

2008-01-07T14:33:00.001+05:30

commissioning other organisations or research bodies to undertake specific research and development projects, rather than handling them in-house.

Business Process Outsourcing (BPO)

2008-01-07T14:31:00.001+05:30

BPO as the outsourcing of business functions or processes, such as procurement, to a third party. In these contracts the provider is responsible for performing and managing the outsourced function or process on behalf of the customer. In order to qualify under this definition, BPO contracts must involve the provider taking overall responsibility for the business process and not just supplying IT applications or services to facilitate the process.
BPO is the outsourcing of back office and front office functions typically performed by white collar and clerical workers. Examples include accounting, human resources and medical coding and transcription.
Business process outsourcing is the leveraging of technology vendors to provide and manage a company's critical and/or non-critical enterprise applications. Through the business transformation process of service-oriented transformation, which leverages the technologies and standards of service-oriented architecture, companies can increasingly leverage third party companies that act as business service providers. Business process outsourcingcan use off-shore resources, but is not required.

What does mean by Outsourcing?

2008-01-07T14:29:00.000+05:30

The concept of taking internal company functions and paying an outside firm to handle them. Outsourcing is done to save money, improve quality, or free company resources for other activities. Outsourcing was first done in the data-processing industry and has spread to areas, including telemessaging and call centers.

Contracting out some or all of an organization's IT or communications operations. Often believed (erroneously, according to recent research) to lead to cost savings.

A formal agreement with a third party to perform a service for an organization.
The practice of turning-over responsibility of some to all of an organization's information systems applications and operations to an outside firm.
The practice of having goods or services provided by a person or persons outside the business or organisation.
Performance of a production activity that was previously done inside a firm or plant outside that firm or plant. 2. Manufacture of inputs to a production process, or a part of a process, in another location, especially in another country. 3. Another term for fragmentation.
In computing, outsourcing can take many forms. A company, for instance, may outsource its whole IT operation, so that another outsourcing firm provides the hosting and maintenance of its servers and ensures that the system runs smoothly and runs its application development. This would be a total outsourcing solution, although many companies will often just pick elements of such a package.
contracting work to a third party.
The transfer of a function previously performed in-house to an outside provider.
The contracting out of work that was previously done within an organisation to an external provider. More on outsourcing

Which type of services can be provided in BPO?

2007-12-04T14:26:00.000+05:30

Following type of services can be provided through BPO:-

E-Promotions Management
E-Customer Support Services
Book Keeping Services
Insurance Services
Data-Entry Services
Data Conversion Services
CAD Services
CAD Conversion Services

What are the Motivation factors as to why BPO?

2007-11-26T18:41:00.000+05:30

Following are the few factors which motivate the BPO:-

Factor Cost Advantage
Economy of Scale
Business Risk Mitigation
Superior Competency
Utilization Improvement

Which type of services come under KPO Services?

2007-11-21T15:19:00.000+05:30

KPO Services:-

Market Research & Analysis
Financial Market Research
Life Seciences and Pharma Research
Web based Market Research

What is KPO Services?

2007-11-21T15:12:00.000+05:30

Knowledge process outsourcing (KPO) is a form of outsourcing, including legal process outsourcing. These are both high-value-added forms of business processing outsourcing (BPO). KPO firms provide domain-based processes and business expertise, rather than just process expertise.

What is Insourcing?

2007-11-21T15:07:00.000+05:30

The opposite of outsourcing can be defined as insourcing. When an organization delegates its work to another entity, which is internal yet not a part of the organization, it is termed as insourcing. The internal entity will usually have a specialized team who will be proficient in the providing the required services.
Organizations sometimes opt for insourcing because it enables them to maintain a better control of what they outsource.
Organizations involved in production usually opt for insourcing in order to cut down the cost of labor and taxes amongst others.

What is Outsourcing?

2007-11-21T15:02:00.000+05:30

In outsourcing, the external organization would take on the management of the outsourced function.
Most organizations choose outsourcing because outsourcing offers a lot of advantages. When organizations outsource to countries like India, they benefit from lower costs and high-quality services. Organizations can concentrate more on core functions once they outsource their non-core functions. Outsourcing can also help organizations make better use of their resources, time and infrastructure. Most organizations are opting to outsource because outsourcing enables organizations to access intellectual capital, focus on core competencies, shorten the delivery cycle time and reduce costs significantly.

Benefits of BPO

2007-11-02T14:33:00.000+05:30

Benefits derived from BPO can be summarized as follows:
Productivity Improvements
Access to expertise
Operational cost control
Cost savings
Improved accountability
Improved HR
Opportunity to focus on core business

BPO Services

2007-11-02T14:15:00.001+05:30

The philosophy behind BPO is specific, do what you do best and leave everything else to business process outsourcers. Companies are moving their non-core business processes to outsource providers. BPO saves precious management time and resources and allows focus while building upon core competencies. The list of functions being outsourced is getting longer by the day.
As the current sources of revenue face slower growth, software companies are trying new ways to increase their revenues. BPO is one way of increasing their profits. If done well, BPO results in increasing shareholder value.