Tuesday, September 14, 2010
The Rise of Offshore Development Outsourcing Services
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Tuesday, April 13, 2010
Outsourced CFOs are Smart for Business
Running a business takes many skills sets, and business owners, eager to keep costs in check, try to do it all. From hiring decisions to compiling financial statements, owners spread themselves thin running from task to task. The upside? There's no large salary tied to people holding specialized positions. The downside? Each task gets but a fraction of the time it deserves - and requires.According to the Harvard Business Review, outsourcing is one of the most important management ideas and practices of the last 75 years. Companies using outsourcing cite innovation as their number one reason for bringing in a fresh perspective to key company functions. Business owners and executives say they derive these four benefits from outsourcing:
1. Outsourcing allows companies to focus on what they do best - their own core competencies.
2. Companies achieve greater efficiencies without adding people or technological resources.
3. Outside expertise helps companies become more profitable, thereby increasing company or shareholder value.
4. Outsourcing offers increased service levels within company functions.
One of the most critical functions in a company - especially one transitioning through one of the growth phases - is that of the financial officer. A Chief Financial Officer (CFO) typically focuses on how efficiently a business is operating. While some business owners view this function as a reporting function - one where the CFO merely is a score keeper of how well the business already has performed, that's just where CFO duties begin.
A CFO takes the historical financial data (also known as financial statements and other typical recording reports), combines that information with operating practices, and analyzes areas where the company could - and should - make changes that affect profitability, productivity and efficiency. The CFO with top-notch business sense can dramatically impact a company's bottom line.
Companies nearing the half million up to the $5 million revenue mark often find they can benefit from the services of a seasoned CFO, but can't - or don't want to - afford the $125,000+ these professionals typically demand for a salary. Some business owners, realizing that they do not have the resources to hire a full-time CFO, simply accept this and vow to grow their businesses so they can hire a CFO in the future. Smart business owners recognize that if they want to reap the benefits of an experienced, results-producing CFO, they must look for a more creative way to do it.
These smart entrepreneurs regularly make outsourcing work for them. They understand the importance of leveraging their money while obtaining critical tools for success. Many times, the cost savings accompanying qualified CFOs makes the decision that much easier.
Outsourced CFOs sell their time by the hour or on a monthly basis -four to eight hours a month, for example, at an agreed-upon fee. CFOs can isolate areas of concern that the business's accountant wouldn't (and possibly couldn't) detect until tax time. Even the closest accounting advisor isn't privy to day-to-day business practices.
CFOs can have a positive affect on the outcome of major business decisions. For instance, companies facing reorganizations or mergers need to have access to real numbers associated with these events. They also need to know how to leverage available resources with company debt. Skilled CFOs handle these issues regularly and can bring much-needed expertise to company owners and executives as they make short- and long-term decisions.
Other areas offer opportunities as well. Purchasing agreements sometimes can hurt the well-intentioned company manager. If a company makes larger purchases because of negotiated lower prices on products and the trade off is a shorter pay schedule, CFOs can isolate this scenario as the key reason why a company could constantly be in a cash crunch.
Finding a qualified CFO may be as far away as a phone call to your CPA or accountant who offers outsourcing as a credible service component for companies like yours. Today, some firms offer the services of experienced CFOs who have retired and now work as temporary workers - much like you would hire a secretary on an as needed basis. Whichever route you take, financial matters aren't the only areas where an outsourced CFO can lend advice. CFOs can help your business in several critical areas including:
· choosing appropriate accounting software,
· deciding whether leasing or buying equipment is best,
· how to compensate company officers,
· how to handle company collections,
· how to handle cash flow and how to balance company debt with receivables, and
· how systems can be improved to improve productivity.
While hiring a CFO for a short amount of time may get you past a cash flow crunch, help secure a much-needed loan or initiate systems that increase productivity, experts agree that to get the most out of your investment, you should commit to your outsourced CFO arrangement for at least a year. An experienced CFO often can impact your business in less time than an average work day or approximately eight hours.
If you are a business owner currently functioning as CFO, think of all the things you can do with your leveraged time.
· Spend time with valued customers to ensure their continued business.
· Attract and win new business.
· Develop new products or services.
· Work on operational or financial projects to make your business more profitable or accelerate its progress toward your growth goals
Bottom line: the choice to outsource comes down to dollars and sense. When companies add a CFO's salary to a benefits package complete with annual bonuses, the price tag is high. And, not all CFOs are equal- navigating the maze of available CFOs can leave you dazed and confused. Keep in mind that CFOs possessing business performance management knowledge add an extra dimension that positively affects other areas of your company, including productivity, operating efficiencies and internal systems.
It takes time to make the decision to outsource a critical management position. Aligning company growth goals with the operating budget, and comparing that to the benefits an outsourced CFO can bring to the picture, enables you to determine if outsourcing is right for your company. If you still aren't sure, call your accounting business advisor to discuss the pros and cons of this type of arrangement.
AUSTIN BUSINESS VALUATION
AUSTIN CERTIFIED PUBLIC ACCOUNTANT
SAN ANTONIO ACCOUNTING SERVICES
SAN ANTONIO LITIGATION SUPPORT
Article Source: [http://EzineArticles.com/?Outsourced-CFOs-are-Smart-for-Business&id=319247] Outsourced CFOs are Smart for Business
Tuesday, February 2, 2010
Litigation Support Services
Litigation is a common appellation for a law suit. Litigation is any controversy before the court. There are certain issues which can not be solved. Such controversies are settled by the intervention of the court. Litigation is a thoroughfare for humans and organizations in order to settle the disagreements. The concept of litigation is present from the evolution of the judiciary system.
The litigation system has transformed to various forms in the history of the system. The current trend in this litigation system is electronic litigation system. Litigation support services are designed to support barristers in managing industrial litigation, designing, database management, assortment, data abstraction in litigation. Also, litigation support servicing company accompanies the barrister's litigation related research and process the related documents as his support system. Litigation servicing company offers its litigation services not only to the barristers, it also directly manage the client documents. The litigation support service should follow up with the clients and legal trainees and manage their resources. The litigation support service uses latest technologies such as Document Management System for effective management.The litigation service system is the one system which is developed to assist legal consultants, legal organization, and related clients. It concentrates on litigations regarded to human resources. Litigation support service utilizes the newer trends and technologies for effective management of client legal resources. The human resource litigations concentrate on injuries and compensation related controversies. The litigation support service concentrates on medical instruments and legal instruments of the clients.
The litigation service provider use technologically advanced document management system to manage the clients resources. They also deal with legal researches, which are essential for any legal professionals. The litigation support service creates data documents and differentiates the documents of the clients handled by the barrister. The litigation support service managers are talented and have adverse knowledge in the judiciary field. The services to the clients are like: Document Scanning, Indexing, electronic data discovery, digitization, data mining, and web based researches and so on. The litigation support service is a universal system. They stand by the clients through out their litigation.
Article Source: http://www.articlesbase.com/outsourcing-articles/litigation-support-services-967639.html
About the AuthorThe author of this article, Keith Baker has been writing articles since 3 years on legal outsourcing services. He is also a lawyer by profession. Vservesolution.com provides one of the efficient litigation support service in the areas of document scanning, indexing, records sorting, legal coding, preparation of review reports, creating met tags, data mining. Data verification, electronic data verification, book marking of reports, litigation legal services etc. for more details you can contact vservesolution.com.
The litigation system has transformed to various forms in the history of the system. The current trend in this litigation system is electronic litigation system. Litigation support services are designed to support barristers in managing industrial litigation, designing, database management, assortment, data abstraction in litigation. Also, litigation support servicing company accompanies the barrister's litigation related research and process the related documents as his support system. Litigation servicing company offers its litigation services not only to the barristers, it also directly manage the client documents. The litigation support service should follow up with the clients and legal trainees and manage their resources. The litigation support service uses latest technologies such as Document Management System for effective management.The litigation service system is the one system which is developed to assist legal consultants, legal organization, and related clients. It concentrates on litigations regarded to human resources. Litigation support service utilizes the newer trends and technologies for effective management of client legal resources. The human resource litigations concentrate on injuries and compensation related controversies. The litigation support service concentrates on medical instruments and legal instruments of the clients.
The litigation service provider use technologically advanced document management system to manage the clients resources. They also deal with legal researches, which are essential for any legal professionals. The litigation support service creates data documents and differentiates the documents of the clients handled by the barrister. The litigation support service managers are talented and have adverse knowledge in the judiciary field. The services to the clients are like: Document Scanning, Indexing, electronic data discovery, digitization, data mining, and web based researches and so on. The litigation support service is a universal system. They stand by the clients through out their litigation.
Article Source: http://www.articlesbase.com/outsourcing-articles/litigation-support-services-967639.html
About the AuthorThe author of this article, Keith Baker has been writing articles since 3 years on legal outsourcing services. He is also a lawyer by profession. Vservesolution.com provides one of the efficient litigation support service in the areas of document scanning, indexing, records sorting, legal coding, preparation of review reports, creating met tags, data mining. Data verification, electronic data verification, book marking of reports, litigation legal services etc. for more details you can contact vservesolution.com.
Monday, January 11, 2010
CFO Priorities
Author: Anahita Das
According to a Deloitte survey, 70% of CFOs plan to hedge or reduce risk in the balance sheet or in the business, and 56% plan to reduce debt levels. The companies that will differentiate themselves are not the ones that are counting their pennies right now, but those that are strategic about what they will be two years hence. Companies require confidence and foresight to make new investments during volatile times like these. Companies that make appropriate financial, operational, governance and risk management changes now, will not only be in a better position to maintain cash flow and to effectively weather the current economic storm, but will also have the opportunity to lay the foundation for renewed growth and long term profits when the economy rebounds. The first mover companies are focusing on finding opportunities for improvement in procurement, receivables, and payables.
Outsourcing , at a time like this, is particularly important for multinational companies as it helps consolidate its varied global processes into one unified process for the whole company ensuring standardization across the globe of all its practices – back-office, systems, solutions, processes and operations – to make the company efficient. Needless to say, this has an inherent cost advantage that grows to achieve better profitability. Outsourcing of key operations is a crucial investment smart organizations make to reap downstream benefits over a 5-7 year period.
In the current competitive market scenario, innovative companies are using analytics to optimize their profits and gain competitive advantage. Analyzing past consumer behavior helps companies provide actionable predictions for each customer. These predictions encompass all channels - online and offline, foreseeing which customer will buy, click, respond, convert or cancel. Such predictive analytics helps companies better understand their customers by providing insight based business decision support. The predictions on buying behavior generated by predictive analytics improve response rates, click rates, and customer retention, which in turn, improve profitability for organizations.
Article Source: http://www.articlesbase.com/outsourcing-articles/cfo-priorities-898587.html
About the Author:
Outsourcing Expert is associated with WNS, a leading Global Business Process Outsourcing Company. Deep industry and business process knowledge, a partnership approach, comprehensive service offerings and a proven track record enables us to deliver business value to the world's leading companies. WNS is passionate about building a market leading company valued by our clients, employees, business partners, investors and communities.
According to a Deloitte survey, 70% of CFOs plan to hedge or reduce risk in the balance sheet or in the business, and 56% plan to reduce debt levels. The companies that will differentiate themselves are not the ones that are counting their pennies right now, but those that are strategic about what they will be two years hence. Companies require confidence and foresight to make new investments during volatile times like these. Companies that make appropriate financial, operational, governance and risk management changes now, will not only be in a better position to maintain cash flow and to effectively weather the current economic storm, but will also have the opportunity to lay the foundation for renewed growth and long term profits when the economy rebounds. The first mover companies are focusing on finding opportunities for improvement in procurement, receivables, and payables.
Outsourcing , at a time like this, is particularly important for multinational companies as it helps consolidate its varied global processes into one unified process for the whole company ensuring standardization across the globe of all its practices – back-office, systems, solutions, processes and operations – to make the company efficient. Needless to say, this has an inherent cost advantage that grows to achieve better profitability. Outsourcing of key operations is a crucial investment smart organizations make to reap downstream benefits over a 5-7 year period.
In the current competitive market scenario, innovative companies are using analytics to optimize their profits and gain competitive advantage. Analyzing past consumer behavior helps companies provide actionable predictions for each customer. These predictions encompass all channels - online and offline, foreseeing which customer will buy, click, respond, convert or cancel. Such predictive analytics helps companies better understand their customers by providing insight based business decision support. The predictions on buying behavior generated by predictive analytics improve response rates, click rates, and customer retention, which in turn, improve profitability for organizations.
Article Source: http://www.articlesbase.com/outsourcing-articles/cfo-priorities-898587.html
About the Author:
Outsourcing Expert is associated with WNS, a leading Global Business Process Outsourcing Company. Deep industry and business process knowledge, a partnership approach, comprehensive service offerings and a proven track record enables us to deliver business value to the world's leading companies. WNS is passionate about building a market leading company valued by our clients, employees, business partners, investors and communities.
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