Global F&A Outsourcing - Overview

Transformation of Business Support Services from in-house model to outsourced model is one of the most common ways employed by CXOs of many medium and large organizations to meet the pressures of pricing, cost reduction and improved efficiencies in processes.

The services outsourced from mature markets like the US or Europe to emerging markets like India range from Finance and Accounting, Information Technology, Human Resources, Research and Development, Customer Support Operations and analytics decision support.

F&A outsourcing typically involves outsourcing of all or any of the following processes to bring about efficiencies, promote standardization and drive better regulatory compliance and controllership:

  • Procure to Pay (P2P) Process

  • Order to Cash (O2C) Process

  • Record to Report (R2R) Process

  • Financial Statements preparation and MIS reporting

  • Financial planning and analysis (FP&A)

  • Tax statements preparation

Outsourcing needs and requirements of clients vary depending on their business, size and level of complexity in operations, legal and compliance requirements etc. Depending on their business needs and requirements, clients can outsource F&A operations to Traczen and choose from any of the following solutions:

Traczen Global F&A Solutions

I – "Build Operate Own" model – Full fledged outsourcing of F&A activities with Traczen

  • Evaluate and prepare step plan for transformation involving the three corner stones - People, Process and Technology

  • Transition team would systematically move the processes to India

  • Comprehensive and exhaustive documentation of Processes, Key Responsibility Areas (KRAs) and Service Level Agreements (SLAs)

  • Provide training to back office team

  • Go live

II – "Build Operate Transfer" model – Traczen will assist in incubating offshore accounting services centre

  • Evaluate and prepare step plan for transformation involving the three corner stones - People, Process and Technology

  • Transition team would systematically move the processes to India

  • Comprehensive and exhaustive documentation of Processes, Key Responsibility Areas (KRAs) and Service Level Agreements (SLAs)

  • Provide training to back office team

  • Go live

  • Hand over the processes to client and provide on-going support during live operations

III – CFO Services and Advisory Support - Traczen will provide Strategic advice

  • Strategic advisory on needs and benefits of outsourcing of specific activities

  • Preparation of financial modeling to evaluate alternative solutions

  • Evaluate and prepare step plan for transformation involving the three corner stones - People, Process and Technology

  • Identification and set up of suitable technology, team and processes

IV – Back office support – Traczen will work with CPAs to provide back office support in the following areas:

  • Analytics Business Intelligence

  • Tax Returns

  • Assurance / Advisory Support

  • Integrated Service Supported Functions – Involves

    • a) Centre of Excellence

    • b) Quality Driven Process

    • c) Continuous Improvement Initiatives

    • d) Robust Reporting

    • e) ERP support

    • f) Transition Management