HeroACCOUNTS

Organizations today are increasingly targeting business process transformation while maintaining a strategic focus on core strengths and business strategies. Moving your back-office finance & accounting (F&A) operations offshore help maintain a competitive edge, as you leverage cost-effectiveness, enhance efficiency and concentrate more on strategic business activities. Outsourcing essential F&A functions typically involve accounts payable & receivable, general ledger, travel and expense analysis, accounts reconciliation and credit card processing, among others. TripleTree, an investment-banking firm, estimates the potential US market for A/R (accounts receivable) and A/P (accounts payable) services to be in excess of $6.5 billion.

The market for F&A outsourcing is rapidly maturing though, and BPO leaders today have well-integrated service delivery models in place for handling high-end F&A operations. Increased government regulations are also prompting companies to outsource F&A to BPO experts and major accounting firms now rely on offshore outsourcing for a whole gamut of F&A services. According to IDC, finance and accounting (F&A) BPO services are projected to reach approximately $47.6 billion in 2008 from $25 billion in 2003. Within this, USA and Europe lead market spending, followed by a rapidly growing Asian market.

F&A BPO: Our USP

Back-office "right shoring" is imperative for your business and HeroITES, a name to reckon with in the call center/BPO domain, has an integrated approach to execution excellence. We combine domain expertise with state of the art technology and superior delivery capabilities to provide cutting edge BPO solutions in Finance and Accounting (F&A). The BPO consulting team at HeroITES conducts diagnostic studies for its valued clients and helps identify potential offshorable processes in back-office operations such as accounts payable, accounts receivable , travel & expense, credit card transaction & reconciliations. Leveraging its cutting-edge consulting capabilities, HeroITES helps you select the most appropriate engagement model for sequencing business processes, setting up a pilot program, designing a robust offshore architecture and developing creative solutions.

What we offer

• Collaborative and iterative assessment by HeroITES consultants that involves client representatives from senior management and line functions. This helps determine the right strategy to manage and integrate all F&A activities.
• A joint steering committee to oversee program management.
• A tollgate-based approach, with periodic reviews at milestones.

How you gain

• A deep-dive approach for identification of offshorable processes, prioritization of the same and an estimated cost saving that can be achieved.
• Identifying intrinsic and latent benefits within your organization.
• Architecting a strategy to create value through offshoring, with a measurable ROI.
• Preparing a business case for offshoring, with a roadmap to enable smooth transition.

Service Offerings

We offer a full range of F&A services, so that you may look at a more comprehensive aspect of BPO and derive the maximum benefit of a co-sourcing partnership with HeroITES. Leveraging our sophisticated BPO communications network, our solutions ensure a seamless integration between our onshore and offshore BPO operations, enabling back-office transactions and activities to be initiated in the USA and the UK, and ultimately processed offshore. This approach is most suitable for managing non-core client operations that require certain tasks to be performed onshore, while the remaining activities are processed from our offshore facilities.

Key services at a glance

• Procure to Pay
  • Accounts Payable
  • Vendor Management
  • Invoice Processing & Cheque Writing
• Order to Cash
  • Accounts Receivable
  • Cash Application
  • Collections & Updation
• General Ledger Management
  • Fixed Asset Management
  • Set-up and Maintenance of Chart of Accounts
  • Rule-based Reporting & Consolidation
• Analytics
  • Travel & Expense Analysis
  • Financial Reporting
  • Risk Management ( SOX/SAS70)
• Accounting Reconciliation
  • GL to External Source
  • Bank
  • Suspense Accounts
• Credit Card Processing
  • New Account Processing
  • Information Data Capture
  • Authorization & Adjustment
  • Reconciliation & Billing Operations

As BPO gains broad market appeal, F&A is recognized as one of the fastest growing segments with immense growth potential. While solutions in payroll, tax compliance, A/R (accounts receivable), A/P (accounts payable) and travel and expense remain at the forefront of F&A BPO, quite a few high-end knowledge processes like budget/variance analysis, financial risk management, compliance, reporting & MIS are also being outsourced to BPO firms across the globe. With the competition accelerating in the F&A BPO space, quality and value-addition have become crucial success factors, and service providers need to come up with key differentiators in order to lead the market.

In tune with the global trend, HeroITES has honed its industry knowledge, analytical skills and BPO expertise to accomplish high-end F&A tasks which will ensure cost & efficiency arbitrage and accelerate your company's focus on core activities. At HeroITES, finance and accounting services are handled by experienced professionals and finance executives. We utilize world-class processes and latest technologies to address qualitative issues benchmarked with the best available in this industry. HeroITES has laid special emphasis on ensuring adequate training and knowledge enhancement in related compliance and tax laws including SOX and SAS 70, as adherence to these compliances is an imperative for F&A operative processes.

While accounts payable (A/P) BPO services help you exercise greater, centralized control over payables across the organization, our A/R (accounts receivable) solutions enable you to maintain steady cash flows and track controllership receivable accounts which might result in adverse P&L impacts. As a leading BPO player specializing in core F&A activities, HeroITES also provides travel and expense analysis, administration & processing, enabling clients to manage travel costs and streamline their reimbursement and payment processes. HeroITES will act as your strategic partner throughout and provide well-integrated, scalable and tailor-made BPO solutions that increase efficiency, improve cash flow and help enhance financial control.