| Finance and Accounting & Tax and Compliance |
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Finance and Accounting (F&A) have become prime candidates for outsourcing with cost cutting and focusing on core activities at the top of the agenda for CFOs in various industries across the world. In addition, many Certified Public Accounting (CPA) firms have begun shifting tax-compliance and other accounting work overseas. Outsourcing accounting services offshore not only enables these firms to focus on value-added services, but also to reduce costs and improve turnaround time. The hectic tax season presents numerous challenges to CPA firms. While new business is clearly desirable, it is often difficult to recruit temporary qualified staff to support the work. MphasiS helps firms grow business, produce a high quality product and eliminates problems related to hiring resources.
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| Finance & Accounting Services
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| MphasiS supports the finance and accounting function of organizations and CPA firms worldwide.
MphasiS F&A services include general bookkeeping services to high-end financial analysis, scoping studies to specific transaction support (accounts payable, accounts receivable, general ledger), tax services, and shared services. We leverage our technology expertise in platform-based solutions, and provide end-to-end solutions to our clients.
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Services offered include:
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| Area of expertise |
Tasks |
| Process Consulting Study |
| Scoping Study |
Performed by domain experts using Six Sigma tools |
| Process Mapping |
Six Sigma based detailed maps using SIPOC tools |
| Process Improvement engagements |
Technology, solutions and process based improvements |
| Area of expertise |
Tasks |
Value Addition |
| Bookkeeping, Financial Analysis |
| Accounts Preparation, Financial Statements (US, UK, GAAP) |
Platform based accounts from invoices, trial balance, sub-ledgers complete with notes, disclosures and treatment per GAAP |
Digitization of files, transparency, easy access
Uniformity in preparation methods across all client offices |
| Financial Analysis, Spreading |
Normalization and analysis of financials, GAAP adjustments |
Increased coverage and sales potential, knowledge bank |
| Specific Business Area Support |
| Accounts Receivable & Invoicing |
Collections, AR, reconciliations, invoicing, query resolution |
Cost protection to client. |
| Accounts Payable |
Platform based invoice validation & payment, 3-way matching |
Transparency, real-time access of work, customized reports, consolidation and uniformity, macros to enhance productivity |
| Shared Services |
AP, AR, GL, travel & expenses, payroll, BRS, reporting |
Standardization, reduction in team size, specialization, reduction in financial reporting turn around time |
| Reconciliation & A/C Management |
Updating security positions, reconciliations with mainframe |
Enhanced quality monitoring, increased accuracy of reports, productivity improvement |
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