Finance & Accounting

Finance and Accounting (F&A) has become prime candidates for outsourcing with CFOs leveraging BPO as a strategy to change their operating models. Outsourcing accounting services offshore not only enables these firms to focus on value-added services, but also to reduce costs and improve turnaround time.

MphasiS’ Finance And Accounting (F&A) Services is an excellent partner to manage day-to-day Finance and Accounting business processes. We apply proven process reengineering methodologies, technology applications and global service delivery capabilities to help improve service performance and reduce transactional cost. We deliver performance advantage to our clients by deploying our full value BPO model, consisting of our global delivery capability, operational excellence, technology innovation and domain expertise.

Finance & Accounting Services

• Decision Support
  • Financial Analysis: Service offering rate development, Opportunity Consulting including Deal Support and Pricing Strategy Development, P&L and Balance Sheet Analysis, Variance research, GAAP adjustments
  • Financial Reporting: Standard reports and queries, Preparation of financials, Trial Balance Management, Budget and Forecasting Support
  • General Accounting: General Ledger Account Reconciliations, Intercompany Billing and Administration, General Ledger Maintenance and Journal Entries
  • Compliance: SOX testing, Process Audits, Audit support
• Transactional
  • Accounts Payable: Supplier Invoice Entry, Reconciliation, Issue resolution, Payment and Reporting
  • Accounts Receivables: Credit, Customer Database Management, Billing, Collections, Reconciliations and Cash Application
  • Fixed Assets: New asset set-up, Maintain database, Asset transfers, Disposals, Reconciliations and Reporting
  • Treasury: Fund transfers, Funding and Sweep, Cash forecasting, Bank reconciliations, Bank account maintenance
  • Payroll: Payroll Administration, Preparation and processing, Checks and EFT, Reconciliation, Third Party Payments, Tax Reporting and filing, Miscellaneous field reporting

Operational Excellence Framework – Beyond Labor Arbitrage

MphasiS’ Operational Excellence framework is a holistic framework that integrates methodologies and tools across the entire BPO lifecycle. The components of this framework include Knowledge Management, Business Continuity Planning, Data Privacy and Security, Organizational development and training, Quality, Industrial engineering, Business control, Process engineering, audits and compliance and Process innovation. Our quality tools ensure that process quality and efficiency improvements are tightly integrated that balances trade-offs and combines advanced process engineering and productivity practices with built-in controls for reducing defect variations. To reduce risks, MphasiS applies proven and standardized methodologies, tools and best practices within our Business Process Management (BPM) framework as part of every BPO engagement.

 

The MphasiS Advantage

• Helps save 30 to 40 percent on Finance and Accounting costs through global economies of scale, leveraging technology and best shore services
• Enhance quality through standard processes that drive lower error rates
• Improve controls by establishing a single point for convergence for transaction processes
• Reduce opportunities for errors and create a simpler compliance review
• Increase customer satisfaction through our focus on quality measures, key performance indicators and service level agreements
• Improve shareholder value by enabling more time spent on strategic decision making and planning
• Robust Transition methodology