Process System And Training
The process followed by all staff incorporates review and quality control and also ensures that every staff clearly understands every aspect of the job they are to complete every time.
This system has been developed over years through repeated trials during actual work projects. This process has proved very effective for an offshore financial accounting services provider like us.
Work Flow and Completion:
Depending on the size and type of job required, you may chose between one of two methods to undertake your jobs:
1. Direct contact with Indian Senior Accountant and/or your own team in India:
This method involves working directly with the Indian staff in control of your work and provides a more cost effective solution to meet your requirements. However it may require increased input from your own business to establish the criteria and structure to undertake your work; or
2. Utilisation of specialist staff provided by PB Solutions from within your country:
(or as required). These staff co-ordinate all work between you and the Indian company. They will provide all communication requirements, meet with you and assist you to establish the structure you require as well as providing a final quality control. This process can incorporate and often does incorporate staff from India travelling to your company to work with you internally to develop an understanding of your requirements, obtain specialist training and to ensure their team functions to your expectations at all times.
Obtain job cost estimates
This step in the procedure is usually undertaken with step one, however if you are looking to have only specific jobs or one off jobs completed, this step allows you to obtain costs before Step One is even undertaken, subject to the job required.
This includes providing access to client data to allow us to complete work. This step involves utilising the unique hosting and information exchange services offered through PB Solutions IT support team to establish the IT solutions to ensure that the work and information flows smoothly and securely. The PB Solutions generally undertakes all work electronically with no data or client information being transferred to or stored on computers in India. Under this process it is possible to maintain a high level of security. It also ensures that all client data is stored and controlled in the country of origin.
This step includes the actual processing of jobs. We undertake specific processes in completing all work for clients. These are:
1. Client Interview and Data Collection
This stage identifies the data for processing and ensures that it’s available for access by Indian teams to work on.
a) Stage One – Job Understanding
all data collected, all historical data and all training material as well as any interview sheets and client information material are provided and reviewed by the International Team. This process can take up to 50% or more of the cost allocation and involves:
- Reviewing all data thoroughly and identifying any new transactions or any unknown or poorly scanned information;
- Reviewing all historical data and gaining an accurate understanding of the accounting outsourcing job and the client – training;
- Completing interview/training sheets to reflect that understanding;
- Raising and concluding a comprehensive query list. (For eg. In small business bookkeeping)
It should be noted that cost estimates may be varied after this stage subject to what is discovered regarding the job.
b) Stage Two –This stage involves –
The completion of the interview/training sheets and obtaining answers to all queries from the clients by the senior accountant/support staff. The processing and completion of the job by the International staff. This includes completion of all worksheets and presentation of supporting data in appropriate structure.
- Finalise and planning adjustments – (quality review).
- Presentation to client.
Conclusion, fee and discussion including identifying any areas of weakness or need for training. We offer assistance and solutions to clients through our financial accounting services and bookkeeping outsourcing service.