Finance and Accounting

RCM Metrics to Track for Improving Business Sustainability

This guide will discuss important RCM metrics that your healthcare business should track. Scale your business with our revenue cycle management services.

2 months ago No Comments Views

Why You Should Look for a Sarbanes-Oxley Act Compliant Outsourcing Partner

Due to the occurrence of major accounting scandals over the past two decades, in the US, the Sarbanes-Oxley Act was enacted in 2002 as a way to mandate companies to be transparent in their financial reporting and to impose better internal controls and measures for corporate governance. The main goal of Sarbanes-Oxley (SOX) is to prevent fraud and protect those who invest in public companies.

More than just a regulatory requirement, SOX compliance is considered a good business practice as it encourages better security measures and protects the company from cyber attacks and other risks. It is also an indicator that a business has good corporate financial stability, which uplifts reputation and inspires investor confidence.

All publicly traded companies as well as wholly-owned subsidiaries and foreign companies that are publicly traded and do business in the United States must comply with SOX, including outsourcing companies. Businesses that wish to seek the services of a third-party outsourcing provider especially for finance and accounting processes should choose one that is SOX compliant for the benefit of their key stakeholders and because of the following advantages:

Strong financial reporting

Under Section 404 of the SOX Act, companies are required to prepare reports that detail their internal controls and financial reporting procedures and assess their effectiveness. They also use a framework that guides them in handling their financial records better. Through these good practices, SOX compliant companies are able to enhance the quality of their financial reporting, which results in the improvement of many other aspects of the operations including easier access to capital markets.

Improved audits

Most companies view internal and external audits as something that is done annually or quarterly, at most. However, what they fail to realize is that audit functions can result in significant improvements in corporate risks if developed properly. Fortunately, complying with SOX regulations encourages companies to institutionalize their audits, which can help them identify key financial and corporate risks much earlier and result in a lower cost of overall risk management. 

Protection from cyber attacks

Another significant advantage of SOX compliance is the fact that it helps companies prepare for and deal with cyber threats. Cyber attacks and data breaches compromise sensitive data and information, which will not only cost a company a lot to manage but also put its reputation and consumership on the line. The regulations under SOX outline the best practices they can follow to ensure that this will not happen in the future, and if it ever does, they are prepared to handle it.

Aside from SOX compliance, choose an outsourcing company that also ensures:

  • Access to talent through their A+ recruitment process
  • Cost savings of up to 70%
  • Adaptability in technological advancement
  • Established Information Security
  • Operational excellence
  • A great F&A team
  • Information and data security
  • >60 Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance F&A team composed of:

Let’s work together to build a great F&A Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

3 months ago No Comments Views

7 Common Pitfalls to Avoid When Implementing RCM

Are you making these common mistakes and pitfalls in implementing your RCM solution?

4 months ago No Comments Views

Where to Find World-Class F&A Talents?

The finance and accounting (F&A) industry has faced a shortage of qualified talents in the last several years mainly due to the aging population of F&A professionals and the lack of new talents to fill in the gap. Additionally, this problem has been heightened by the COVID-19 pandemic that made the talent access more scarce, the hiring process even more challenging, and attrition and turnover rates higher than ever. It is crucial to note that high attrition rate is critical because it results in loss of employee knowledge, loss of morale for those remaining team members and overall loss of productivity.

Given how vital F&A processes are in business sustainability, it’s important to hire only skilled and experienced professionals in your team. While in-house recruitment is still a viable option, you can save more on time and resources when you choose to outsource – an advantage that is definitely relevant nowadays.

Aside from enabling you to cut on personnel costs and other overhead expenses, outsourcing can link you with qualified candidates for your F&A team. In order to enjoy these benefits, you have to be keen in choosing the outsourcing company you want to partner with. So when looking for a prospective provider, here are some qualifications that you need to look for.

Access to a pool of world-class talents

First and foremost, choose to partner with a provider that will give you access to skilled and experienced F&A professionals. By doing so, you will be able to scout skilled accountants, bookkeepers, financial risk managers, and other F&A experts who will match your company’s unique needs. You can be guaranteed that these candidates have the knowledge, experience, and even the necessary certifications to handle your F&A processes, minimize costly accounting errors, and improve your overall business performance.

A+ recruitment process

Another thing to consider in an outsourcing partner is a well-established hiring process that allows them to filter the best people for your company and make sure that they have the proper certifications and skills for their roles. With this, you can have a great F&A team and at the same time, scale your operations on an immediate basis when necessary because their industry network allows them to source new talent quickly and effectively. 

Industry experience

You will be able to gauge an outsourcing provider’s level of experience based on the number of projects it has completed and how intensive those projects were using various F&A platforms such as Quickbooks, Microsoft Dynamics, STAARS, Charles River Database, etc. This is important to consider because experience can indicate if a provider has the knowledge and experience in the F&A industry to effectively handle the tasks and processes you plan to outsource.

High Retention Rate

Employee retention is one of the persistent issues in the outsourcing industry where typical retention rates range from 50 to 80 percent depending on the field of specialty. Find an outsourcing partner that has a high retention rate, because this usually indicates that a company has excellent employee engagement practices such as programs and activities that promote growth in and out of the workplace. This will result in increased productivity among employees and competent professionals who can manage your F&A processes effectively.

High Net Promoter Score

When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.

Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Look for a trusted outsourcing company that can help you build a dedicated F&A team that has:

  • Access to talent through their A+ recruitment process
  • Cost saving of up to 70%
  • Adaptability in technological advancement
  • Established Information Security
  • Operational excellence
  • A great F&A team
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance F&A team composed of:

Let’s work together to build a great F&A Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

6 months ago No Comments Views

Outsourcing F&A: The Future in Finance

May it be a startup or a multinational company, finance plays a vital and crucial role in any business. This is why companies allot time and resources to hire skilled accountants and provide them enough training to effectively manage the demands of their position. Before, building a Finance and Accounting team was usually done in-house, but with the rise of the outsourcing trend in F&A, more businesses are able to enjoy the advantages of outsourcing. In addition, outsourcing is one of the best methods to rebuild your F&A Team while your business recovers from the COVID pandemic.

In fact, accounting was the most commonly outsourced service among 195 businesses surveyed for Clutch’s 2019 Small Business BPO Survey with 37 percent followed by IT services and digital marketing. The F&A outsourcing market is also projected to reach over US$16.5 Billion by the year 2025, making it an essential part of the industry.

So, how can outsourcing your F&A team contribute to your business and become the future in finance?

Financial flexibility

One of the main reasons why businesses choose to outsource their F&A services is to save on resources especially financially. However, more than cutting on overhead costs and recruitment expenses, outsourcing also allows you to decide and choose the kind of services based on what your company currently requires. Whether it’s full-time or just selected functions, you pay only for the service that was rendered by the outsourcing provider. This enables you to direct your capital to other revenue-generating investments for your company by allowing you to save up to 70% on operational cost.

Access to best available F&A talent

While outsourcing may be considered more economical than in-house hiring, the quality of service is not compromised especially if you partner with a good outsourcing provider. With access to highly qualified F&A professionals, you are guaranteed minimal errors in your processes that otherwise can be time-consuming and costly to your business. These professionals also have up-to-date knowledge on accounting principles and tax regulations that provide the best service to your costumes and ensure company’s regulatory compliance.

Aside from a pool of world-class talent, outsourcing gives you access to F&A professionals who have expertise and proficiencies in using the latest accounting software and technologies, which are usually expensive to avail especially for small and medium enterprises.

Increase in the efficiency of business

With an outsourced F&A team, you and your staff no longer need to worry about carrying the burdens and complexities of accounting which allows you to focus on your core competencies while your outsourced team can execute F&A tasks. They will be the ones in charge of ensuring that all your accounting processes are managed properly. In turn, you can focus on running your business smoothly, give more time to value-adding tasks, and serve your customers better.

24/7 business operations

In the new normal, having round-the-clock operations is definitely beneficial for business. By outsourcing your F&A team, your outsourced team can have a schedule based on your company’s business hours to ensure high productivity and adjust to the US time-zone. Additionally, outsourcing also enables remote work, which is ideal with the current circumstances.

But overall, the right outsourcing partner not only has the points listed above but they also have an A+ recruitment process who can build you great, high-performing teams. It is also important to note that they should have a Net Promoter Score of >60.

Why does a high Net Promoter Score equate Operational Excellence?

When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.

Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Look for a trusted outsourcing company that can help you build a dedicated team that has:

  • Access to talent through their A+ recruitment process
  • Cost savings of up to 70%
  • Adaptability in technological advancement
  • Established Information Security
  • Operational excellence
  • Great, high-performing F&A teams
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance F&A team composed of:

Let’s work together to build a great F&A Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

6 months ago No Comments Views

Outsourcing Accounting and Finance: 5 Reasons Why It’s a Must in the New Normal

The pandemic, as we all know, has altered many industries around the world and affected key business operations including finance and accounting processes. This resulted in many businesses and companies to adapt new approaches in managing their F&A. Some relied on cloud-based technology while others utilized digital platforms for clients and practiced virtual collaboration among their employees.

More than these, another trend in F&A that is rising in popularity in the new normal is outsourcing. Given the current economic climate, businesses are looking for ways to reduce costs without compromising the quality of service. Partnering with a good outsourcing provider can help you achieve both and even prepare you for unexpected scenarios and potential threats just like the global pandemic in the future.

In the new normal, it is highly recommended to outsource your F&A solutions and here are 5 reasons why.

  1. Cost-effective

When you outsource, you immediately save on personnel costs such as salaries, benefits, and training and recruitment expenses while still getting the full benefit of a full-time employee. With the current circumstances, these savings are best allocated to the improvement of other aspects of your business

Not only that, partnering with a reputable outsourcing provider will also save you on time as it guarantees an excellent recruitment process. You will be linked to individuals who are not only knowledgeable in F&A core responsibilities but also have necessary licenses and certifications. 

  1. Access to world-class talent

Taking off from that last point, outsourcing gives you access to a pool of skilled and experienced F&A talents that you may not have if you choose to build your team inhouse. Because of the pandemic, the scarcity of skilled candidates in the accounting profession has doubled which made the talent access and hiring process even more challenging.

It is important to have individuals onboard who can handle your F&A functions expertly so as to avoid costly errors and noncompliance to policies as well as provide you recommendations that can help in making crucial business decisions moving forward.

  1. Increased efficiency and minimized risk

Outsourcing gives you a team of trained and expert F&A professionals who can limit the risk of losses to your business. Errors, penalties, and litigation expenses always come at staggering costs and therefore must be prevented as much as possible in order to keep your company afloat in the new normal.

  1. Flexibility

Another great thing about outsourcing is it provides added flexibility and scalability in your operations by allowing you to choose only the services that your company specifically needs in a given moment. This eliminates unnecessary expenses and even improves cash flow, which are very important in these times.

  1. Focus on core competencies

Ultimately, outsourcing your F&A processes takes away time-consuming tasks out of your plate and allows you and your employees to focus more on tasks that add value to the customers and on achieving your business goals. 

Why high Net Promoter Score equates Operational Excellence

When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.

Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Look for a trusted outsourcing company that can help you build a dedicated F&A team that has:

  • Access to talent through their A+ recruitment process
  • Cost saving of up to 70%
  • Adaptability in technological advancement
  • Established Information Security
  • Operational excellence
  • A great F&A team
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance F&A team composed of:

Let’s work together to build a great F&A Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

Because the pandemic has altered many industries around the world including finance and accounting, outsourcing your #F&A team is a must in this new normal.

Why? Read here.

6 months ago No Comments Views

How Outsourcing F&A Contributes to Business Sustainability, Aside From Cost Reduction

In maintaining financial stability, a company must prioritize its finance and accounting (F&A) processes especially now where the business landscape has become unpredictable because of the pandemic. Proper accounting helps you track your company’s income and gives you an accurate picture of where you stand financially, thereby allowing you to direct the course of your business.

With such a crucial role, a dedicated team is needed to properly handle finance and accounting processes, but not all companies have the resources to build one internally. Fortunately, outsourcing has become a great help when it comes to this since it helps businesses cut overhead costs without sacrificing the quality of service.

More than just cost cutting, the advantages of outsourcing F&A for business stability also include:

Access to world-class talent pool

Partnering with a good outsourcing company guarantees that you will only have access to skilled and experienced candidates who can perform their roles with efficiency and quality. With this, you are assured of less errors in your accounting processes, which can incur costly penalties, and a faster turn-around time for your clients, improving your business performance overall.

Your outsourced talent will also take care of compliance to the latest policies, accounting rules, and financial regulations so you won’t have to worry about staying up-to-date. 

Flexibility and Scalability

Another great benefit of outsourcing is being able to scale your financial and accounting processes and customize the service based on your company’s specific requirements and business needs. This means you are getting solutions tailor fit to what you only need and translates to even more cost effectiveness in the long run.

Best Tech Practices

The impact of technology in the accounting sphere is unprecedented, so to be able to keep up with the times and serve your clients better, you must have access to the latest technological advances and software relevant to your business. Most of the time, these can be very costly, but when you outsource, you get to enjoy the benefits of these resources without having to pay anything extra.

Ultimately, outsourcing takes away time-consuming tasks out of your plate and allows you and your employees to focus more on tasks that add value to the customers and on achieving your business goals.

When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.

Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Look for a trusted outsourcing company that can help you build a dedicated F&A team that has:

  • Access to talent through their A+ recruitment process
  • Cost saving of up to 70%
  • Adaptability in technological advancement
  • Established Information Security
  • Operational excellence
  • A great F&A team
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance F&A team composed of:

Let’s work together to build a great F&A Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

7 months ago No Comments Views

F&A Outsourcing 101

With the drastic change in the business and economic landscape brought by the pandemic, companies have to pivot and bring back the focus on its business goals to stay competitive in these changing times. In all of this, accounting plays a vital role not only in tracking income and expenditures but also in helping business owners make important decisions that can help move their venture forward.

Businesses need a dedicated team to properly handle its finance and accounting processes, but not all have the people and resources to build one internally, especially small and medium enterprises. This is where outsourcing comes in.

According to Clutch’s 2019 Small Business BPO Survey, accounting is the most commonly outsourced service among 195 businesses surveyed with 37% followed by IT services and digital marketing. It is also projected that F&A outsourcing will reach over US$16.5 Billion by the year 2025.

Here are just some key things to know if you plan on outsourcing your F&A solutions for more efficiency and business stability.

Outsourcing is cost-efficient

Outsourcing is not only cost efficient on overhead but you can also save time and resources because the right partner will ensure that they will build you tech agnostic F&A experts so you are sure that your outsourced teams are not only knowledgeable in F&A core responsibilities but they have necessary license and certifications as well. Overall, this can lead up to 70% operation cost savings.

These savings come without compromising the quality of service and productivity in the workplace. Cost efficiencies are extended to the management of the personnel costs that include salaries, government-mandated taxes, benefits on top of the other operational expenses while you still get the full benefit of a full-time employee.

Access to industry experts and experienced talent

In order to get the best results for your business, you need to make sure that the individuals handling your F&A functions are not just knowledgeable but experts in what they do. The scarcity of skilled candidates in the accounting profession doubled during the pandemic which made the talent access and hiring process even more challenging.

As a result, companies are spending more to hire skilled accountants by bumping up compensation offers and being more flexible on the customized benefits. In return the company will have to invest more to hire the right and best F&A talent. But with the right outsourcing partner, you will instantly gain access to world-class talent and A+ recruitment process.

A+ Recruitment

Finding, screening and recruiting for the best of the best is another great thing about outsourcing your F&A team. Your outsourcing partner will oversee the entire hiring process, filtering the best candidates for your company and making sure that they have the proper certifications and skills. You will also have the opportunity to take part in the screening process. Together, you will select the right talent for your outsourcing requirements.

By getting these time-consuming tasks out of your plate, you can better deal with your business goals including improving cash flow and looking for more ways to stay competitive in this economic climate. 

Another thing you must remember when looking for an outsourcing partner is to choose one that has a High Net Promoter Score.

Net promoter score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Look for a trusted outsourcing company that can help you build a dedicated F&A team that has:

  • Access to talent through their A+ recruitment process
  • Cost saving of up to 70%
  • Adaptability in technological advancement
  • Established Information Security
  • Operational excellence
  • A great F&A team
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance F&A team composed of:

Let’s work together to build a great F&A Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

8 months ago No Comments Views

How Outsourcing Fund Accountants Contribute to Improved Cash Flow and Business Sustainability

Several factors like the still ongoing global pandemic are pushing fund managers to adopt new and more efficient strategies in managing funds of all sizes. Realizing that doing everything in-house may be more taxing on resources than it seems, many are opting to outsource their various middle and back office business functions including fund accounting from reputable third-party providers. 

The role of a fund accountant is mainly to calculate and report the daily Net Asset Values (NAVs) per unit as well as compile standard weekly and/or monthly financial statements and income and expense accruals among others. They can also help in fund management through research and preparation of reports.

In today’s current situation, outsourcing fund accounting functions can contribute in improving cash flow and the overall status of the business. Here are just some of the reasons:

Accurate monitoring

The expertise and experience of professional fund accountants are needed in ensuring accuracy in monitoring of accounting processes and compiling regulatory financial reports, which are crucial in improving performance and guaranteeing transparency for investors.

Moreover, not only does your outsourced team add to manpower, they also possess the needed skills and knowledge such as account management, bookkeeping, and fund analytics that are useful when it comes to the processes involved.

Focus on core competencies

Delegating operational functions to an outsourced partner can lead to a significant reduction in operating risks and costs and a higher degree of transparency into the management of the funds. It also lessens the burden of increased regulatory requirements and complex investor requests on the shoulders of fund managers. In turn, this will allow them to focus on their core competencies such as creation of fund structures and servicing investors to raise and deploy capital. 

Best value for money

Outsourcing proves to be the more advantageous and cost-efficient route to take for businesses, because services can be scalable depending on the needs and capabilities of a company. Costs for training, recruitment, office space, and IT infrastructure are lessened. It also gives you access to specialized accounting systems (e.g. Quicken Premier, Master Investor, etc) that have become essential to the industry due to investors’ demand for more transparency, which when not outsourced can be very expensive.

Look for a trusted outsourcing company that can help you build a dedicated Fund Accounting team that has:

  • Access to talent through their A+ recruitment process
  • Cost saving of up to 70%
  • Adaptability in technological advancement
  • Established Information Security

Lastly, the right outsourcing partner promises for the following:

  • Operational excellence
  • Having a great F&A team
  • Operational cost savings of up to 70%
  • Accuracy and quality
  • Timeliness in submission
  • Information and data security
  • Net Promoter Score >70: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

  • Building great, high-performing teams
  • 70% Projected operational savings 
  • 72 Net Promoter Score (2019)
  • 97% Client retention rate

We can build you a great, high-performance Fund Accounting and other F&A team composed of:

Let’s work together to build a great Fund Accounting Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

8 months ago No Comments Views

Key F&A teams to Outsource in the New Normal

As the global economy continues to reel from the impacts of the COVID-19 pandemic, business owners had to make important decisions including what measures to take to guarantee the safety of their employees while still maintaining business continuity for their customers, and the overall financial health of the company.

In doing so, it is best to be guided by a team of finance and accounting professionals that  will make sure to help put the company in the best position to overcome the current situation and prepare for what’s more to come in the future. While building an F&A team inhouse is an option, outsourcing these functions weigh more when it comes to added benefits, which includes cost-efficiency, scalability, and access to expert talent and the latest industry technology.

In outsourcing your F&A services, here are 4 functions you should prioritize:

  1. Financial Risk Management

The unpredictability of the current economic environment brought about a shift in priorities when it comes to finance functions. According to a global study conducted by the Institute of Management Accountants, the largest increase in finance function priorities is seen in risk management, with nearly half (43.7%) of companies spending more time in this area.

Having a risk management team can provide useful advice on the potential risks to a company’s sustainability and profitability in the new normal. And in the case of finance and accounting challenges (i.e. error in computation, invalid bookkeeping, wrong calculations), they already have a plan of action to reduce and mitigate risk, and avoid bigger losses.

  1. Accounting

Financial issues are surely one of the problems business owners are currently facing in line of the pandemic. A company can benefit from the expertise of a competent accountant  such as CPAs, Fund Accountants, etc is to  analyze and evaluate its financial situation and recommend the right set of tools and solutions to recover business operations during and after a business crisis. Moreover, accountants just like risk managers, can guide you in creating a clear financial plan for the future to drive success to your company.

  1. Bookkeeping

As companies work to increase their revenues after incurring losses in the past few months, bookkeepers are essential to keep a record of all receipts, payments, and other financial transactions as well as to prepare cash flow statements and financial reports. Bookkeepers are also responsible for issuing invoices, paying accounts on behalf of the company, performing payroll administration duties, and filing tax returns. These responsibilities make bookkeepers essential in business recovery as they ensure that your employees are getting paid on time and that your expenses and income are on track amid crises. 

  1. CFO Services

Lastly, companies that are looking to not just survive but thrive in the new normal can use the help of outsourced CFO services. An outsourced CFO gives expert assistance to business owners who are having issues on cash flow, raising capital, solving tight margins, and implementing more efficient systems among others.

Now that you have an idea what F&A services to outsource, it’s time to look for an outsourcing partner that can cater to the unique needs of your company.

Partner with a company with >60 Net Promoter Score

Net promoter score helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Look for a trusted outsourcing company that can help you build a dedicated F&A team that has:

  • Access to talent through their A+ recruitment process
  • Cost saving of up to 70%
  • Adaptability in technological advancement
  • Established Information Security
  • Operational excellence
  • A great F&A team
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance F&A team composed of:

Let’s work together to build a great F&A Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

8 months ago No Comments Views

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