New dimension of outsourcing

F&A Outsourcing is a new dimension of outsourcing industry in India. There are many services that India is providing to rest of the world and also domestically. Leading companies who currently provides these services are:

• Genpact.
• Convergys.
• American Express.
• IBM.
• Ameriprise Financial.
• HCL.
• Wipro.

Apart from above mentioned big players there are lot new players emerging in the market. Initially the process like Accounts Payable, Accounts Receivable are migrated and then after getting expertise on the services organizations can think of migrating high end analytical process like, Financial planning and analysis, Budgeting, Closing & Reporting etc.

Details of processes served and services provided under F&A segment are as follows:

1. Accounts Payable:

- Invoice Receipt and Matching.
- Dispute Resolution.
- Remittance Tracking and Resolution.
- Deduction Management.
- Collections and recoveries.

2. General Accounting/
Closing&Reporting:

- General Ledger Closing.
- Consolidations.
- Reconciliations.
- SEC and USGAAP Reporting.
- Statutory Reporting.
- System/Platform
Maintenance.

3. Treasury & Tax:

- Bank Operations and
Cash Forecasting.
- Risk Management.
- ALM, Hedging, FAS52.
- Rating Agencies.
- Tax Returns Preparation.
- Tax Reconciliations.

4. Financial Planning and
Analysis:

- Management Reporting.
- Variable/Fixed Cost,
Balance Sheet, Cash
Flow Analysis.
- Budget Preparation.
- Variance and Issue
Analysis.
- Competitor Analysis.

5. Governance:

- Internal Audit.
- SOX Project Management.
- Regulatory Compliance.
- Control Self Assessment.