Business Advisory
Outsourcing
   
   

 

While we are currently involved in a number of outsourcing assignments we are only presenting one of the challenging assignments as a Case Study :

Background

Our customer is a global vendor lease company funded by Commercial Banks, Investment Banks and Global Investors

Its focus is on leasing and financing of IT products.
It manages private label programs with technology vendors .
Its service offerings include FMV, Operating & Finance Leases .

It has multiregional operations with offices in Hong Kong, Singapore, Malaysia, US, Sweden, Norway and Denmark.
Its strategy is planned growth by acquisitions in the US, Scandinavia and Southeast Asia.


What did our Customer want ?


Key business processes had to be web enabled to manage the complete Lease Life Cycle via an integrated database to increase process efficiency. Multiple users such as Employees, Funders, Vendors and Customers had to be self served real time via the web.
Control costs.
Required multicurrency consolidation as per IAS GAAP and reporting from a Centralized operation.
A centralized India Centric Back Office supporting each country of operation with Financial Accounting and Lease Administration.
Back Office service delivery to be best in class.
Achieve efficiency and highest quality with minimum manpower deployment on business processes.


What did we offer ?


Financial Accounting 

General Ledger accounting under IAS.
Multicurrency and multiregional consolidation.
Maintenance of accounting policies to insure consistency in group reporting.
Controller review of financials.
Billing & Collecting support in South East Asia.
Facilitate tax and compliance .
Budgeting – budget vs. actual analysis.
Developed a model for conversion of acquisitions made in Sweden and Norway to an uniform IAS/US GAAP accounting. There exist worldwide differences in accounting treatment of leasing transactions.

Management Reporting 

Monthly Reporting to Management. 

Countrywide, Company wide.
Regional (Asia Pac) statements.
Monitoring Key Business Parameters such as Portfolio Size, Distribution, Unguaranteed Residual Values, Lease Receivables, Leverage, Residual Value Investments, Financial Ratio Analysis.
Assist in preparing special, analytics and business intelligence reports for informed decision making.

Audit Services 

Facilitating audit and serving global and country auditors by providing timely audit reporting schedules.

Miscellaneous 

Developed a web based Leasing System which has an interface with Financial accounting.
Data backup and administration.
Training business units on the system .
Maintain employee leave record, salary details with deductions for payroll.
Maintaining lease data for all countries on a specialized software platform.
Maintain leased asset based information.

Why a Centralized Back Office & Why India ? 

India offers a low cost advantage. Customer incurs a fraction of cost compared to the West .e.g. remuneration of an accountant in India is USD 1,500 vs. USD 7,500 in Sweden. Moreover an ABL team member works 300 days a year compared to an average of 235 work days in Sweden.
A high quality advantage. Trouble free and timely audits, Accuracy, Speed and flexibility of reporting Global domain expertise.
Increased flexibility to all the business' operations, allowing corporate leaders to focus on core activities, instead of worrying about support services.
Centralized Processing.
Capital and technology costs are minimized being centralized at one location. New Delhi being the capital city of India is extremely well connected to all parts of the world.

How we deliver ? 

You may download our Financial Accounting Process.
 
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