FINANCE AND OUTSOURCING
The inherent liquidity of the financial market in the US makes it the sector with the highest economic activity globally. Post COVID-19, financial firms are transforming to enable business continuity amidst and beyond crisis. Outsourcing in this vertical has become more relevant in present times, as a wide geographic imprint allows multiple outlets to act as contingencies. Providing the niche expertise required in every business field, outsourcing also allows a dedicated team to focus on your competencies with 24/7 services.
Considering the GDP of the US in 2018, the percentage for the Finance and Insurance Sector was 7.4%, which amounts to $1.5 trillion. Standardization, AI integration, and Financial Technology reshape what comes next while enabling productivity improvements. The combination of circumstances and trends in the Banking and Insurance industry favors a global business support model through the deployment of outsourcing. Offshoring also supports an operating model for efficiency, effectiveness, and cost optimization for utilities.
SMEs utilize Finance & Accounting services, along with Insurance support, to handle non-core operations providing them with a competitive edge in the variable market conditions. Third-party involvement can also free you of dealing with compliances, certifications, and critical regulations while reducing business risk. Considering the monetary benefits, one may be compelled to opt for outsourcing, which additionally offers flexibility to scale as well.
PREMIER BPO FINANCE, ACCOUNTING, AND INSURANCE SERVICES
Understanding the need of making timely critical decisions specific to the business, Premier BPO provides customized financial solutions compliant to industry regulations. Equipping organizations of all sizes, we offer Private Label Cloud services, Back-office support, Financial Reporting, Asset management, and Treasury management services, Budgeting, Insurance Policy Handling, and much more.
We provide information regarding performance on all stages for critical decision making in the running of a company. Our reporting function includes details of assets, liabilities, equity, and income and expenses that are directly related to the client’s financial position.
FINANCE & ACCOUNTING
Book-keeping
Accounts Payable and Receivable
- Invoicing and receipt management
- Customer collections and Billing
- Orders and processing details
- Inquiry management
- Recording transactions and closing statements
- Payroll processing and computation (calculations, stats, deposits)
- Data entry, information capture, and scanning
Fixed Asset Management
Review of items to meet the standard accounting capitalization criteria
Posting of transactions in “Depreciation Solutions”
Review of fixed asset accounts, repair accounts, and supplier accounts
Calculate depreciation, record data in the Financial System and post to relevant General Ledger codes
Treasury Services
- Bank account balance reconciliation and daily account
- Budgeting and Forecasting revenue and costs
- Upcoming payments review and schedules
- Cash projections and loan management
- Identifying borrowing requirements
- Investment of surplus funds where appropriate
- Encasing investments for meeting cash payment requirements
Financial Reporting
Financial Analysis (ledger, cash flow)
Generating monthly financial statements (Balance sheet, Profit and Loss)
Consolidated Financial Statements from various companies
Preparing quarterly and annual returns, e.g. 10K and 100
Document management and advanced reporting
Business and investment consultancy
INSURANCE
- Customized insurance and financial plans
- Sales Lead Generation support and upsell
- Commission Management
- Insurance Claims Processing
- Risk Management and assessment
- Mergers and acquisitions
- Value chain management
- Insurance management portal (cloud-based)
ADDITIONAL PREMIER BPO SERVICES
Travel and Expense Management (T&E)
Accounts Auditing
Licensing and case management
Quoting and Policy Management
QuickBooks, Xero, Sage, MS Dynamic certified personnel
Customized Software capabilities: Ability to work with any client Identified software
ISO, PCI, Federal Information Security Act compliant services
Why choose Premier BPO as your Outsourcing Partner?
Wouldn’t it be a relief if you didn’t have to handle monotonous, burdensome workplace tasks by yourself? Managing an entire in-house team can leave you distracted and spread thin to focus on your core competencies. Outsourcing makes all operations efficient and economical while allowing you to focus on business expansion.
Premier BPO’s adept accounting team is extensively trained under the wing of the global accounting firm, KPMG. Our personnel are competent to meet international standards for back-office processing in all major U.S accounting organizations. We handle all your rigorous daily tasks with confidentiality and diligence, while you focus on the important high-end business decisions. When letting someone else handle your money, experience and trust is a must. Premier BPO’s many years in the field can be advantageous to your enterprise growth.
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With Premier BPO’s customized service plans, our partners have successfully reduced their operational costs up to 50% or more while upscaling rapidly. Premier BPO’s specialized teams work tirelessly around the clock to help you put your best foot forward, despite these challenging times.
We treat our clients like family, and their success as ours. We analyze your business needs and provide transparent solutions based on individual milestones. To get access to your personalized business consultancy, call our experts for advice.