Our Focus
Our focus is you and you to achive the maximum benifit through accounts outsourcing.
Why Outsourcing
Many companies view outsourcing as merely convenient, cost-effective solutions. However, astute management will see its true value as an effective and strategic business tool to handle non-core functions (fully or partially), which allows companies to attend to their core business. Increasingly, this is being recognised and outsourcing is integrated for routine finance functions as part of a company's overall strategic management plan to improve performance and competitiveness. Thus, outsourcing can be a transformational agent for growth.
The Costs of In house Accounting
If you are to carry out your accounting functions which is a non-core activity resources required to maintain an in house accounts department in your organisation can be significant. In evaluating these, consider the following.
- Staff cost
- Retention is based on offering your accounts department the ever changing market salary rates
E.P.F. % + E.T.F. % + over and above the salary cost / Government compulsory retirement provisions
- Gratuity provision liability
- Staff welfare and related expenses
- Time spent on resolving staff personal matters
- Bonus payment
- Labour issues and disputes
- Cost in office space
- Cost of IT infrastructure of all individuals of the accounts department
- Knowledge transfers barriers
- Losing the learning curve advantage
- Employee benefits & insurance
- Parking facilities and space
- Non-continuity when people resign
By outsourcing your accounting / finance activities to ACSPL your company will benefit in many ways in reducing or avoiding such current cost drastically.
The Benefits of Outsourcing is as follows;
Reduced overhead costs
Especially those overhead costs necessary to maintain your own finance division (mainly the cost of electricity to run air conditioners, lighting, computers, etc) can be reduced or even totally eliminated
Freeing up resources
Office space, computers & peripherals, etc., which will be freed due to outsourcing, can be used for other purposes
Capital expense savings
The cost of computer hardware, furniture, lighting equipment, etc. required to have your own accounts division can be reduced/ eliminated
Improving efficiency
The efficiency of the supplier invoice payment process (payable process), sales invoicing & collection process (receivable process) and month/year end accounting processes will be improved drastically
Off-loading the non-core function
Off-loading the non-core function of finance and focusing on core business activities, especially for IT related companies
Access to specialised skills
You will have access to a pool of highly qualified and experienced professionals whose costs would be prohibitive to accommodate in your own accounts division
Saving on manpower and training costs
The salary cost (including statutory benefits, bonuses, etc) of accounts staff and the cost of providing various types of training for those staff can be reduced/avoided
Being reliable and innovative
Outsourced services, deliverables are of very high quality and the management can rely on them and focus on core activities with ease of mind
Increasing customer satisfaction
Companies are increasingly switching to outsourcing due to the high quality of outsourced services
Avoiding the cost of chasing technology
The need to upgrade general hardware, software and accounting software can be avoided
Off-site backup of data
Your data will, not only be kept, but also backed up by the outsource provider, providing you an automatic back up for your accounts data
Reduced risk
The risk of failure of your accounts staff to deliver services on time due to various reasons (such as sudden departure of a key accounting staff member) can be eliminated as the outsource provider take full responsibility for the timely delivery of services and it has the necessary capacity to do so
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