Financial Accounting Services
Thakur International Financial & Accounting Outsourcing Services (TIFAOS) has pioneered the finance and accounting solutions by integrating domain expertise, global delivery network of financial services and technology solutions of Financial Accounting Services. TIFAOS assists in identifying, transitioning, transforming, executing and continuously adding value to finance and accounts processes through a low-cost Business Process Outsourcing (BPO) services model, without compromising on quality and compliance. We believe in delivering the right information at the right time.
It is critical that transaction processing is handled with greater reliably and timeliness at a much lower cost. As a result, Shared Services and BPO have fast become proven sourcing approaches for most finance processes. Initially they focused on the high-volume activities associated with Procure to Pay (P2P), Order to Cash (O2C), Record to Report (R2R) and other management processes. Their scope has steadily increased to include areas of more specialist skills such as Management and Regulatory Reporting, Consolidation, Budgeting, Tax and Treasury Management. Outsourcing finance and accounting (F&A) functions frees key managers and subject matter experts to fine-tune processes, control costs, improve controls and develop products that will delight customers.
Delivering Cost Savings and Innovation
Beyond improving management focus on core activities, outsourcing F&A can deliver immediate cost savings by performing work at a lower cost location which provides economies of scale. An outside provider can often deliver higher-quality services because of it use of more experienced personnel, supported by a larger investment in best practice research and technology. It will lead to identify potential savings of millions per year. Finally, outsourcing can improve controls through improved separation of duties, better documentation of processes and performance levels, and higher levels of automation.
TIFAOS offers a portfolio of services in F&A domain
Our clients are kept updated with applicable financial reporting and related legislative changes, while also providing appropriate advice to maximize the potential of their business on Financial Accounting Services. Backed by the strength of world-class audit processes we enable our clients across industry domains realize risk management benefits, from assessment to transformation.
1. PURCHASE MANAGEMENT – Procure to Pay (P2P)
2. SALES MANAGEMENT – Order to Cash (O2C)
3. EMPLOYEE REIMBURSEMENTS
4. FIXED ASSET MANAGEMENT
5. GL ACCOUNTING – MAINTENANCE OF BOOKS OF ACCOUNT
6. MIS & COMPLIANCES
7. CONSULTING AND AUDIT