[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][vc_column_text]Today’s finance and accounting outsourcing services go beyond the scope of a single function, such as payroll or invoice processing, to offer a complete solution for all your internal financial operations.
Extending your existing finance and accounting processes to a trusted partner can help achieve operational efficiency while enjoying lower costs and shifting focus to your core competencies.
A truly comprehensive finance and accounting solution encompasses all aspects of an organization’s essential business processes including everything from accounts payable processing to accounting for accounts receivable and bank reconciliations.
This means you are looking for a team of professional experts with deep industry knowledge and expertise. As more and more companies are forced to furlough employees and yet optimize existing processes, the need of the hour is to adopt resilient outsourcing solutions. Effective outsourcing is further enabled by remote working solutions that keep things up and running despite challenges including breaks in finance supply chains and loss of headcount.
This brings us to the next question: What makes ARDEM a suitable partner for outsourcing your finance and accounting functions?
Let’s take a look at the common problems faced while outsourcing finance processes and how ARDEM can help you overcome them:
Quality and Accuracy
Fears pertaining to loss of quality control and increased inaccuracies are quite natural while contemplating the possibility of outsourcing your finance function.
After all, how can you be sure that another company will perform these tasks with the same efficiency and accuracy as you?
At ARDEM, we process all incoming finance and accounting data with meticulous care and attention to detail while enforcing the strictest quality controls standards.
We employ a proprietary methodology to eliminate manual errors while entering data via both automated capture and effort-based data entry. Double-key data entry is combined with a series of compare and validation checks that promise close to 100% accuracy.
We further deploy advanced automation in combination with the latest machine learning and artificial intelligence technologies to convert, extract and aggregate data from both physical and digital forms. You simply need to forward the digital or scanned copies to us via email or file transfer and our team will do the rest. If you still receive unmanageable piles of paperwork, then you can forward that too, and we will scan, convert and upload them.
At ARDEM, we are known for our efficient data entry and management services, processing and delivering data in almost real-time with 3 teams working in round-the-clock shifts, 24 hours a day.
Lack of Effective Communication
Another primary concern that arises with outsourcing is the lack of effective communication that can result in an inadequate brief, which, in turn, produces unsatisfactory results.
Effective communication becomes even more challenging in the case of remote working teams that comprise and leverage global talent.
While it may be a little harder to implement effective communication across intercontinental distances, it’s not entirely impossible.
ARDEM ensures effective communication between you and our team through the aid of both tools and regular reporting. ARDEM assigns you a Project Manager, who acts as your single point of contact. Once the onboarding starts, your project manager interacts with both you and your team, i.e., CFO, departments heads, etc.
The project manager goes into detail while examining your project, in order to ascertain an exact estimation of your requirements and needs. We design your solution accordingly, proposing a layout that checks all your boxes. Once the workflow has been implemented, we study it for further improvement and incorporate your feedback on the same.
We further make it easy for you to stay in constant touch with your team via our remote workplace, the ARDEM Collaboration Platform that offers live chat and video calling features. The platform offers you a personalized dashboard that provides real-time updates on the status of your projects and enables you to easily upload and share files with your remote analysts.
You can further customize your dashboard views to view the analytics of your choice and leave updated work instructions for your team directly on the files.
Another worry that rises up while outsourcing internal finance operations is the fear that you will end up losing control over your processes.
However, nothing could be farther from the truth as outsourcing provides you with greater visibility into your expected revenue and existing liabilities while rendering all finance and accounting processes more transparent.
Forget all the times you got lost in a maze of piled up invoices and checks, we take care of all the tedious, time-consuming tasks while providing you with greater business insights into how you can control spending and maximize revenue.
You can outsource the individual functions related to accounts payable outsourcing, auditing expense reports, general ledger reconciliation, accounts receivable, bookkeeping, and bank reconciliation, or even request us to manage your entire process. We have a solution for all your financial needs and accounting requirements.
Problems in Scaling Operations
While outsourcing solutions may be enough for your current operating needs, will they be equally effective in the future?
The concern over the ability of your outsourcing partner to scale their team and match your growing requirements is a valid concern. After all, why should your business suffer due to the inability of your partner to cater to your expanding needs?
At ARDEM, we build a fully-effective team with back-up analysts that are ready to step in case of any absence or urgent requirements. We match our services to your fluctuating needs and in case of a major rise in your processing needs can help you scale your team in as little as 10 days.
Defining Scope and Expectations
In many cases, decision-makers are hesitant to opt for outsourcing services due to the apprehensions about pinning down the scope of work.
As a decision-maker, your decision to outsource directly hinges upon the cost-effectiveness of the proposed solution and how it can implement greater efficiency in your operations.
Whether you plan on outsourcing individual processes or the entire finance function, pinning down and defining the exact scope of work can be quite a daunting task.
Once we have determined your processing requirements, we map out the entire process, laying down the entire scope of work and client expectations in clear-cut terms. The SLA signed at the beginning of the partnership is adhered to diligently and periodic reports are shared as per a predefined frequency to mark the progress of work.
At ARDEM, we pride ourselves on our strategic management, innovative approach, process discipline, agility and receptiveness to build and sustain long-term partnerships for collaborative success.
Today’s business demands quick adaptation in line with the latest advancements in technology. Similarly, the scope of outsourcing has expanded beyond simple data entry services to advanced solutions that employ robotic process automation to fast-track everyday operations.
This further means that instead of taking the expensive route to update your processes internally, you can simply outsource your finance function to enjoy the advantages of automated processing.
However, this comes with additional worries about having to overhaul your entire system.
At ARDEM, we realise the importance of building advanced solutions that can be integrated with your existing system. Our solutions are completely devised on a “lift and shift” policy, where we can lift and shift your entire finance function without disrupting your entire system. For example, while processing your accounts payable, we integrate with your existing ERP to prevent the need for a large IT overhaul.
Apprehensions About Security & Compliance
Another concern that keeps companies from outsourcing internal finance and accounting processes is worries over data security and proper implementation of regulatory compliances.
ARDEM takes the matter of data security and confidentiality extremely seriously. We have proven our compliance with industry-specific quality standards and are an ISO27001-certified data entry and outsourcing company.
We further implement a series of VPNs, SSLs and encryption protocols to keep your files secure during transfer and at rest. Access to sensitive financial data is provided on a strictly need-to-know basis and we have additional measures in place to ensure that your data cannot be seen, edited or moved by anyone else. Additionally, GDPR, PCI, PHI, and PII compliances are met while entering, processing and sharing data for patient data security.
The ARDEM Advantage
End-to-End Finance Solutions
Whether you need to outsource an individual function or need comprehensive services to outsource your entire finance and accounting cycle, ARDEM’s team of financial experts can manage it all for you.
You can put all your concerns about language barriers and lack of effective communication to rest as we offer you a global team comprising highly-educated and skilled professionals with specialized degrees in the finance and accounting field.
Advanced Automation: Our data entry scientists, engineers and developers take your repetitive and time-consuming processes such as financial data entry and create intelligent automation solutions such as RPA to increase efficiency, accuracy, and productivity.
Matching Your Needs
With over 16+ years of experience, ARDEM combines intelligent people, robust processes, and automation tools to provide fully managed finance and accounting solutions for all our clients.
While we have standardized processes for every industry, every solution we build is tailored to each client’s specific needs.
30-60-90 Day Transition Plan
We further manage the hiring, training, quality control, and process management for your entire finance function.
Once all of finance and accounting processes have been transitioned smoothly, additional efficiencies will be made with technology and all your processing will be shifted to a cloud-based platform. This is achieved over a 30-60-90 day transition period, where we optimize the proposed workflow at every stage for increased efficiency.
Remote Working Solutions
A truly effective outsourcing solution comes with remote working capabilities. The ARDEM Collaboration Platform is a cloud-based solution that offers you a swift and easy way to manage remote teams with strict security and the latest SSO protocols in place.
You can use our digital workplace to manage work assignments for your team, upload documents onto secure folders, or dowload output files.
Virtual Training Services
After understanding the details of your current process, we layout a proposed workflow. Our developers then create a replica of your current system on our platform which is utilized for training all current and future employees.
- Accounts Payable Services: Automating payable services to streamline vendor bills to payment cycle.
- Accounts Receivable Services: Improving checks received and bank reconciliation process.
- Bookkeeping Services: Increase financial visibility and reduce the high costs of accounting costs and management.
- Invoice Processing Services: Automating data collection from vendor invoices.
- QuickBooks Accounting Services: Using qualified accounting bookkeepers with previous experience in working with QuickBooks, our QuickBooks accounting services combine technology as well as process control to improve your operational costs.
- Accounting Services: Increase accuracy and decrease cycle times through automation to manage accounting tasks.
- Financial Services: Increase the visibility of financial data to make data-driven decisions and increase growth.
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