Finance and Accounting Outsourcing
In a competitive global environment, the Finance & Accounting function is the most essential fundamental of any enterprise. It ensures effective operations with requisite compliance and controls, balancing expense vs. growth, reducing the cash cycle and maximizing ROI. Hence, companies are channelizing their finance function to achieve superior results. IT rationalization, resource optimization and an innovative delivery model has facilitated Finance and Accounting Outsourcing (FAO) to become a desired financial transformation strategy.
Finance and Accounting BPO
Wipro BPO's Finance and Accounting practice serves global clients including fortune 500 companies. Our key focus areas are providing transformational value to our clients through process excellence-automation, re-engineering and internal/external benchmarking, and variable pricing models etc.
Through our solutions, we also stress on flexibility in the delivery and solution approach, smart-speed risk mitigated transitions, bringing best practices to the table and transforming processes etc.
Wipro's robust F&A Outsourcing framework:
Wipro has built a robust framework comprising of the following key tenets:
- Robust capabilities in tools and technology enablers- Our proprietary suite of bolt-on tools, Base)))7trade; empowers customers with control, and enables decision making through SLA driven performance management, automated workflow, and high-end process analytics
- Innovative pricing models (Hybrid/Outcome based)- In order to cope with the increasing buyer sophistication and competitive intensity in the F&A outsourcing market, Wipro uses innovative pricing models in order to align pricing with business needs/outcomes to deliver impact beyond cost arbitrage.
- Global Delivery Model- Country/region specific regulatory and language requirements are met extensively leveraging our robust global delivery model.
- Risk and Compliance practice- In today's business environment companies are struggling to comply with regulatory requirements and effectively manage risk. Wipro has developed specific solutions for clients that help in reducing the complexity and improve effectiveness of risk compliance. Wipro's compliance readiness service offerings include, amongst others, Sarbanes Oxley Act (SOX) Compliance, SAS 70 type I and II, ISO 27001 and BS 7799. Wipro itself is SOX certified by KPMG
- Process Excellence Framework- Business excellence can be defined as the systematic use of quality management principles and tools of business management, with the goal of improving performance. To ensure clients reap maximum rewards from outsourcing with Wipro, we have established a dedicated Finance Center of Excellence which drives cross pollination of best practices across clients and drives performance benchmarking initiatives, etc.
- Keeping pace with accounting and regulatory changes- Our in house Finance ‘Gurukul ’ initiative drives organization wide trainings related to contemporary accounting and regulatory topics like IFRS, US GAAP, etc.
- End to End F&A Process Delivery Capabilities- To ensure that our clients can derive maximum benefits from outsourcing various aspects of their work, we offer various unique and industry specific processes like Bank Fee Optimization, Alternative Investment Accounting, Lease/Real Estate Accounting, Services and Store Accounting, Bank Guarantee Management, Letter of Credit Accounting, Commissions Processing, Joint Venture Accounting, and Royalty Accounting offers a complete F&A outsourcing solution to our clients.