BROCHURE

Most business owners we work with share a common business goal – to create a world-class organisation that works efficiently and effectively. However, lack of skilled workforce, streamlined processes, resources, tools and governance become some common obstacles and challenges in achieving their goals. Without a good support, it is practically impossible to capitalize on new business opportunities, resources, markets and create value. Few of the other challenges that restrict an organisation to achieve long-term objectives are lack of enterprise performance management which is very important for driving bottom-line results, inability to attract and retain skilled workforce and ever-increasing pressure to control costs.

In order to meet those challenges, outsourcing is a great option and many organisations big and small are considering to outsource their major business functions in order to drive growth. Outsourcing not only helps in keeping a quality check on major business functions but also helps in keeping the costs in control.

These days, organisations outsource their major business functions like bookkeeping, accounting, taxation, audit and Controller/CFO services to third-party firms. In fact, as per the recent survey, more than 40% of companies have planned to increase their use of outsourced accounting and bookkeeping services.

Accurate and up-to-date financial records play an important role in the success of a business. Therefore, many organisations today seek out accounting outsourcing firms that can assist them in reducing their operating costs, increasing profits, establishing benchmarks for superior governance and conformity to regulations and gaining a competitive edge. Outsourcing ensures business growth and mitigates risks.

There are numerous reasons why outsourcing your business functions makes sense. Here are the top 10.

  1. Reduces overhead cost

Businesses spend a major portion on their fixed and variable overheads. Outsourcing allows you to lower your expenditures on fixed costs and control variable costs that can result in significant savings. Cost reduction is one of the key drivers for business growth. When properly executed, outsourcing has a defining impact on a company’s revenue recognition.

  1. Reduces labour cost

Lower labour cost is one of the primary reasons why businesses look at outsourcing. Outsourcing removes the burden of hiring a number of full-time staff who are on the payroll even when their services may not be required. Outsourcing provides you the flexibility to hire workforce who can work only when needed.

  1. Improves operational efficiency and effectiveness

Outsourcing helps in improving operational efficiency by minimizing internal expenses, reducing risk, reducing employee turnover and saving your valuable time. When you have experts looking after your day to day operations you can be assured that your business is in the right hands. Moreover, outsourcing helps you improve efficiency by helping in-house employees focus on core functions.

  1. Improves processes

Outsourcing provides an opportunity to upgrade and improve your current business processes by streamlining them. It helps in enhancing your core and critical operations by redesigning your business processes. Moreover, it helps reduce risk and processing errors by following best practices and controls that can help improve overall efficiency and drive business growth.

 

  1. Reduces risk

Employee embezzlement and fraud cause an average loss of 10% for every 1 in 5 businesses. In order to deal with this, you can enforce strong checks and balances system but that can reduce the morale of honest employees. To avoid such scenarios, outsourcing is the perfect solution which helps you decrease your risk of internal fraud by having an impartial standard of checks and balances. It reduces business risk in four major categories i.e. operational risk, strategic risk, financial risk and compliance risk.

  1. Improves flexibility and scalability

When you outsource your business functions you are in turn minimising large investments in human resources, technology and infrastructure. This gives you an opportunity to scale up or scale down their involvement during high market demand or downturns. As outsourcing involves short term and flexible contracts with your outsourcing partners, it provides you the flexibility and scalability to react to market changes and business cycles.

  1. Allows you to focus on core business

One of the biggest challenges faced by businesses is the lack of time and resources to focus on core business practices. Moreover, back-end operations end up requiring significant attention. By outsourcing your major business services, you focus all of your attention and resources on more essential areas of the business. It allows you to concentrate more of your energy toward research, development and other ways of improving your business’s products and services.

  1. Helps you gain confidence and peace of mind

Outsourcing improves the overall functioning of your business. With accurate accounting records, timely return filing, proper compliance to laws and regulations, smooth processes, operational efficiency and much more, you gain a peace of mind and confidence to make more accurate and informed decisions. In addition, it provides security and safety by mitigating potential threats and fraudulent activities.

  1. Lets you focus on innovation

In this dynamic business world, innovation is the foundation on which your business rests. By outsourcing the non-core functions of your company to the third party, you channel your focus on more critical aspects of your business. It lets you divert your time and energy into developing new ideas, bringing innovation and achieve high performance.

  1. Allows better control and visibility

One of the biggest misconceptions among business owners is that outsourcing will weaken their control and ability to manage the organization effectively. On the contrary, outsourcing actually maintains or even increases transparency and control. Since the outsourced process is defined and documented properly, it involves more clarity. In addition, outsourcing involves highly trained specialists working with you and improving your technology landscape to further automate processes and improve transparency.

Accounting and Bookkeeping

Professional accounting and bookkeeping constitutes an important requirement of effective financial management for every business. Our accounting and bookkeeping services allow you to do what you do best by focusing on the core and risk related areas of your business. We provide business insights and experience that is very much required in today’s environment.

Our highly skilled professionals provide comprehensive services which include bank reconciliations, day-to-day accounting and bookkeeping, cash-flow management, monthly income statement and balance sheet, preparation of statutory accounts, preparation of management accounts and financial reporting following IFRS. With our financial outsourcing services, we ensure that you have a clean set of audit-ready financial statements. Our services enable your business to enhance its operational and financial agility by streamlining and optimizing key processes thereby impacting revenue growth.

Other Services Offered

  • Daily general ledger maintenance
  • Accounts payable (bills and payments)
  • Accounts receivables (invoices and collection)
  • Fixed asset management
  • Inventory management
  • Inventory reconciliation
  • Accounts reconciliation
  • Payroll processing
  • Budgeting and forecasting
  • Expense classification
  • Tax and audit support
  • Sales commissions
  • Loan transaction
  • Time tracking and job cost reporting
  • MIS reporting

Tax Preparation and Filing

We offer a broad range of tax services that help us align your business structure in a more tax efficient manner. We take a high-level look at your business to identify any opportunities to reduce your tax liabilities. We also strive to add value to your business by customizing tax strategies to minimize your direct and indirect tax liabilities. We address your tax compliances and filing needs. We assist you in computing total income, calculating tax liability, computing advance tax, checking all available deductions provided under income tax act, dealing with capital gain taxes, scrutiny cases, appearing before income tax authority and provide litigation assistance.

Inventory Management Support

Our Inventory management support plays a key role for any business trying to remain competitive and profitable while continuing to grow. Not enough inventory means lost sales and excessive inventory means increased cost of storage and management as well as less cash in hand. Our services are focused on minimizing your inventory-carrying cost. We work as an integral part of your supply chain management and offer inventory management support with our services like inventory monitoring, inventory cost reduction, production shortage forecasting, stock analysis and safety stock management.

White Label Accounting

We provide comprehensive outsourced white label accounting services with a view to adding value to your business. We offer a full range of services right from taking care of your day-to-day accounting (such as drafting reports and monthly or quarterly financial statements) to assisting you with audit support, inventory management and tax preparation and filing.

Proteam Outsourcing is a professional company offering an extensive range of Accounting, Bookkeeping, Taxation and Financial Outsourcing Services. We help you take care of your accounting woes and day-to-day bookkeeping chores by providing streamlined and accurate Finance and Accounting Service by expert professionals at affordable costs. We help you stay updated with all the changes in the accounting policies, rules and regulations and ensure compliance with regulatory requirements. Our highly qualified team of professionals can improve the efficiency and effectiveness of your business processes thereby letting you focus on maximizing your core business operations.

Our business process outsourcing services are focused on delivering outstanding results for our clients. With extensive experience, knowledge, ability and skills, we have a demonstrated track record of delivering measurable improvements in business performance through our services. Our cost-effective services have helped organisations reduce their overall business cost.

Our client list includes companies across diverse industry sectors such as manufacturing, service, pharmaceutical, banking, insurance, FMCG, real estate, automobiles, information technology and many more. Few of the reasons why our clients hire us are better control over back-office functions, increased transparency, higher skill set, innovative solutions, measurable outputs, scalable services and increased business growth.

Contact us at

Proteam Ventures LLP (or) Proteam Outsourcing
#7 Sriji Palace, 17 E.V.K. Sampath Road,
Vepery, Chennai – 600 007, India
Phone: +91 9840708181
E-mail: piyush@proteamoutsourcing.com
Website: www.proteamoutsourcing.com