Outsourcing Services
There is an increasing trend for sound business reasons for managements of large and small companies alike, including the dot-coms, to concentrate their resources and energies on core business activities and strategies by availing and hiring external professional help for undertaking certain non-core activities, routine functions, processes and activities. Outsourcing has thus come to be recognised as a distinct class of service in itself prompted by considerations of cost control, judicious use of enterprise’s own human capital and conservation of its own valuable time and resources for focussing on sound business planning and execution of action for excelling in performance and profitability.
Outsourcing of non-core activities and functions, on a complete or partial basis, customized to the specific needs of various clients, have assumed a wide dimension embracing multifarious tasks and services which include:
- Managing finance and accounting department
- Undertaking book keeping and accounting tasks, both manual and technology-based systems including preparation and processing of underlying documents
- Payroll preparation and related services
- Internal audit on a comprehensive, continuing or need-specific basis restricted to specific departments, divisions, functions and activities prompted by risk orientation and risk assessment.
- Staff secondment on short or long term basis for carrying out various designated functions under management’s own control and supervision
- Processing of high-volume transactions involving repetitive functions and processes, such as data input for stand-alone or networking solutions.
- Preparation and handling of :
- - Monthly and periodical returns/statements prescribed under Income Tax Law.
- - Withholding tax statements, challans and related tasks.
- - Monthly and quarterly sales tax returns and reconciliations with related records.
- - Handling of expatriates executive remuneration matters.
- Support services to international lending and donor agencies
- Computer facility management
- - Management of computer department
- - Provision of support, contract staff and data entry operators
- - Documentation
- Assistance and coordination in determining and handling payment and tax aspects of dues payable to employees under severance and retirement benefit schemes, “Golden Handshake Schemes” or any other voluntary retirement or severance scheme.
