E&M has over 15 years' experience in providing outsourced
accounting and business process services to a wide variety of Indian and foreign
clients.
Client Advantages
Outsourcing advantages to clients are numerous.
Indian Companies
Foreign Companies
Specialised knowledge
Continuity
Transfer of Best Practices
Obviate the need to hire long-term staff for short-term or seasonal needs
Easier way to cope with seasonal peak loads and/or backlogs
Arrangement Flexible/Terminable. No long-term commitment
Better correlation between cost and benefit
No hidden costs
Administratively simple. Contractual arrangement. Employee
relationships, on the other hand, bring several industrial regulations
into play
All advantages as in case of Domestic Companies. Additionally; outsourcing
will be significantly cheaper in case of foreign companies. Besides, in view
of their lack of familiarity with local conditions; entrusting work to a
professional accountancy firm provides greater assurance vis-à-vis entrusting
it to an individual employee. Employee turnover creates loss of continuity and, more
importantly, loss of accountability.
Actual Examples
There is no such thing as a typical client size. We provide outsourcing services to
organisations that range from quite small (small advertising company, a mid-size
merchant exporter etc.) to very big (multinational pharmaceutical company, foreign
bank, manufacturing company with thousands of employees, USD 100 million new plant
etc.) The assignment sizes vary. Those range from "one-man" assignment to those that
require 15- strong team, working full time. Illustrative examples of actual
assignments are as follows.
Outsourced Activity
Description
Client Type
Turn-key Accounting
Turn-key accounting, financial and tax services. Including various statutory
registrations, sales-tax, profession tax, temporary funds deployment etc.
In these cases, the respective organisations do NOT have any Accounts/Finance Department.
Liaison offices of foreign companies, subsidiaries of foreign companies, merchant exporters, service companies, real estate companies.
Internal Audits
Normally, the entire function is outsourced to us. Occasionally, we supplement the efforts of an in-house Internal Audit Department.
Diverse - Manufacturing, service and trading companies.
Business Processes
Several such as :
Purchases & Bills payable;
Field Force Travel Claims processing;
Employee Benefit Claims processing;
Logistical Costs (Freight) Bills;
Budget Monitoring;
Financial Analysis;
MIS;
Invoicing & Bills Receivable;
Credit Control;
Group Reporting;
Provident Fund (Pension Fund) Accounting
Day-to-day accounting including :
Loans
Settlements
Forfeitures
Interest calculations
Investments
Income-tracking
Finalisation
Large manufacturing company with 6,000 employees, small housing company with 50 employees.
Fixed Assets
Creation & Maintenance of Fixed Asset Register (FAR)
Computerisation of FAR
Physical Verification of Fixed Assets
Designing assets numbering schemes
Large manufacturing companies. Locations include factories, depots, warehouses, offices etc.
