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| Home > Our Services > Finance and Accounting Services |
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As business complexity increases, so is the demand for financial reporting and analysis. The drive towards cost cutting and better financial reporting and regulatory compliance will force more chief financial officers to consider outsourcing finance and accounting (F&A) business functions. Additional motivations include access to better technology and improved service levels. F&A outsourcing increasingly is being used as a tool not only for cost savings but also for business transformation. This being seldom a priority for invest-
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| ment, Finance and Accounting (F&A) departments are stretched at both the tactical and strategic ends of the business. The challenge is how to enhance and improve expertise and motivate the resources with the right skill sets to deliver value that the business demands, while keeping focus on reducing the operational costs. To do so, it is critical to increase the proportion of time spent on value-added activities versus transaction processing. The Finance and Accounting (F&A) business process including accounts payable, accounts receivable, order management & tracking, treasury functions, financial reporting, tax consulting and internal audit services is expected to be one of the most widely outsourced business process categories in the near future as per many industry analysts like the Gartner and the Everest groups. Many organizations clearly embrace F&A outsourcing as a strategy for improving service levels, reducing expenses, increasing stakeholder value and gaining a greater competitive stronghold in their marketplaces. |
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With immense exposure to F&A domain and various delivery platforms deployed across processes, HCL will provide a strategic approach by leveraging on three key elements: |
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Technology Innovation: Employing BPO to support and access emerging technologies to provide service at reduced cost |
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Process Improvement: Upgrading FAO processes to benefit the whole company through the plementation of efficient, “fit for purpose” best practices |
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Labor Arbitrage: Transferring functions to lower cost environments to accelerate savings and the funding for improvement initiatives |
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HCL BPO’s service offering spans across the accounting life cycle with significant level of expertise in some specific areas. HCL is among the first in India and perhaps third in the world to be COPC certified in Collections. On an ongoing basis, it is investing in building domain competency across people and processes to move up the FAO value chain. |
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Accounts Payable |
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IPurchase Order Processing |
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Invoice Management |
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Vendor Master Maintenance |
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Payments Processing |
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Travel Expense |
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Vendor Reconciliations |
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Accounts Receivable |
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Customer Master Maintenance |
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Order Management |
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Billing |
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Credit Control |
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Collections |
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Cash Application |
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Customer Support |
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Controllership Accounting |
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Reconciliations |
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Cross BU/Entity Accounting |
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GL Accounting |
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Provisioning |
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Asset Accounting |
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Audit Support |
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Financial Analysis & Reporting |
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Group Consolidations |
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Financial Analysis |
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Planning and Budgeting |
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MIS reporting |
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Advanced FAO Services |
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Taxation |
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Treasury |
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Statutory Reporting |
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