Database Cleansing And Verification For Finance And Accounting Firms

For many years, companies like finance and accounting firms are feeling the blow of low revenue paired with high operational costs. That is why aside from trying to find some ways to increase their sales through the accounting services that they are offering to their clients and would-be customers, they are also trying to find some new ways on how to minimize on costs. Since they need to generate and qualify accounting and financing leads, they also need to have their own effective lead generation campaign. However, before they can ever try to make the first call, they need one simple process that can be a big help to their telemarketing services and that’s to do their own database cleansing and verification processes.

Through database cleansing and verification, they can be able to streamline their lead generation campaign so as to save time and money. One can just imagine that they will call a client or prospect without getting know more about the client, what their needs are and how they run the whole operation of their company. Before any financial consultant can ever give out financial advices or even do bookkeeping for their clients, they have to know how everything in that organization works. Sad to say, they really don’t have the concrete and definite method of doing their own database cleansing and verification. That is the reason why they should outsource database cleansing and verification, telemarketing, providing themselves with targeted call list and even to a little bit of SEO if ever they have their own virtual office on the information highway. It’s a good thing that there are lots of different lead generation companies that are all over the place.

These lead generation service companies can assign somebody to be professional telemarketers, professional appointment setters and can do database cleansing and verification in behalf of their clients which are the financing and accounting firms. Since there is also a growing competitive feel between accounting offices, each of these firms should always be on their feet in focusing their energy on more profitable business appointments. They also need to give a lot of time and even precious money for their other important tasks. If they think that assigning their own people to do these jobs that outbound telemarketing personnel can also do, they might even waste a lot of time and money. They just need to concentrate on those other things and let these b2b telemarketing lead generation companies do the dialing and talking for them.

However, since there are a lot of different lead generation companies that exist today, they need to be very particular about the firm that they will choose. They just need to make sure that the lead generation firm they are going to hire to make all of these database cleansing and verification process possible is qualified and has the ability to contact and qualify marketing leads, sales leads and financing leads for their clients with different consumer targets from banks, credit card companies, retail investors and even government agencies.

Posted in Uncategorized | Comments Off on Database Cleansing And Verification For Finance And Accounting Firms

Qualms On Finance and Accounting Outsourcing Fail To Hinder Industry

Finance and accounting outsourcing is one of the branches of outsourcing that has gained traction over the past few years as companies coming from different business sizes have seen the benefits that they can gain from engaging with a finance and accounting outsourcing company. Among the services that outsourcing companies offer are payroll outsourcing and accounts receivables and payables outsourcing. It is this particular department of a company that can be considered as one of those departments that require a high level of patience and a keen attention to detail. The volume being handled in the finance and accounting department of a business is usually heavy, which allows finance and accounting outsourcing companies to pitch in their services to companies as they can easily reduce the burden at a cost that is not heavy on the budget.

The Wall Street Journal reports that there has been a rising demand for outsourcing services. However, despite the efficiency and benefits displayed by outsourcing, there are still those company executives and companies that are quite uncomfortable with the idea; thus, they would rather host their finance and accounting processes in-house. A research report by Ovum shows that a barrier that prevents big companies to outsource their finance accounting processes would be their loyalty to their staff. Peter Ryan, a lead analyst from Ovum, suggests that a combination of a company’s sense of responsibility for their staff and their skill level could be one obstacle that hinders companies from outsourcing their finance and accounting duties.

Another reason that is being pointed out by the research conducted by Ovum would be the high risks that they attribute to outsourcing is the industry’s low-cost pitch. 38.5% of chief financial officers in the United States and in the United Kingdom are having second thoughts with engaging in outsourcing with a service provider, particularly Indian service providers, who offer finance and accounting services for a low cost because they consider this as an “unacceptable” risk and they would be more comfortable in tapping the services of those who offer services at a higher price.

But despite company executives holding back on outsourcing their finance and accounting outsourcing, there are still some companies like Accenture (NYSE:ACN) and Wipro Limited (NYSE:WIT) that are being tapped for this kind of service and they are showing that their businesses are growing mainly because they have already established a name in the industry.

Other outsourcing companies meanwhile are becoming interested to explore the finance and accounting area of outsourcing. As the month of May began, business process outsourcing company, EXLService Holdings (NASDAQ:EXLS), acquired a service provider of finance and accounting services. US-based Outsource Partners International’s 3,700 professionals and 80 clients would add to the 13,000-population of EXLService Holdings. According to the President and CEO of EXLService Holdings, Rohit Kapoor, this particular acquisition will enable their company to be more known in different verticals, as well as strengthen their company presence in three continents in the globe, namely the United States, Europe and Asia.

Posted in Uncategorized | Comments Off on Qualms On Finance and Accounting Outsourcing Fail To Hinder Industry

Finance and Accounting Outsourcing – Keeps Budget From Overflowing

Do you know what finance and accounting outsourcing stands for? As the years have gone by, the developed countries have started outsourcing there business to cut down on their operational cost. These jobs are mainly outsourced to low cost regions in order to get the job done at a much lower cost. So in many of the cases what happens for these companies in the west is that they are relieved from the task of hiring as well as they get their jobs done on time by making contracts with the client to whom they are sending the job.

In the initial stages, it used to be that the companies in the west used to send mainly those jobs which involved selling of their products by calling the customers and also jobs that involved customer service. But now they are sending expert jobs like accounting and finance related jobs to the low cost zones to attain more cost effectiveness. Most of these jobs are sent to the places that have excellent human resources and also a sound knowledge about the job that they are sending. The first choice for most of these foreign countries is India which has both of them.

The low cost countries are also very much interested in doing these jobs as they get paid in foreign currency which adds more value to their assets because of the exchange rates being much higher. In this respect as far as finance and accounting outsourcing is concerned the primary thing that one needs to keep in mind is proper knowledge about how the entire process should be carried on. In most of the cases this is taught by the company which is outsourcing the job.

The work is mainly based on the trust of the people as they have to protect the data of the foreign company in utmost secrecy. Any leakage of data can lead to fatal consequences for both the companies. In most of the cases the company outsources part of the job and do the main part on their own. This is called partial outsourcing with a contract for the job. In other cases the whole job of the parent company is outsourced and that is conducted through processing centre in the low cost zones. This processing centre is run by the foreign company itself and it is called captive outsourcing.

These days the term BPO is extensively used for outsourcing business. This stands for business process outsourcing. But in case of finance and accounting outsourcing related process the perfect term will be KPO which stands for knowledge process outsourcing. It is basically the procedure of the foreign company allied with the knowledge of the low cost zone workers that one achieves work objectives.

This is not the typical outsourcing job but it involves brainstorming of both the parties in order to attain work objectives in this case. In most of the cases multinational companies that has its operations in multiple countries has outsourced these kinds of jobs to the low cost zones to get maximum return on their capital invested.

Posted in Uncategorized | Comments Off on Finance and Accounting Outsourcing – Keeps Budget From Overflowing

The Importance of Asset Allocation in Personal Finance and Investing

When it comes to personal finance and investing there are many things that we need to keep in mind. Naturally there is the personal budget and watching our outgoing expenses. Debt needs to be taken into account as well and hopefully avoided whenever possible. Insurance, expenses for children, taxes, and planning for the future are other areas of concern in personal finance.

One area that seems to confound some personal investors unnecessarily though is asset allocation. This is the idea of dividing your investments in such a way as to take advantage of the diversity of differing asset classes. Stocks, bonds, real estate, cash, and commodities are just some examples of the asset classes available to us as individual investors. Research has shown that asset allocation can be the single most important investment decision, but how does one determine the best way to allocate their limited assets over a seemingly unlimited field of investments?

One thing that needs to be kept firmly in mind is that the research into asset allocation was actually done using data from institutional investment accounts. Because the vast majority of individual investors do not have nearly enough capital to properly diversify over all the major asset classes, this research is not as relevant to the individual as one might hope. We can still take advantage of the research though by utilizing such investment vehicles as mutual funds and exchange traded funds (ETF’s).

The advantage of these investments for the individual investor is that they diversify your assets while allowing for smaller investment amounts. For example, an investor with just $50k in assets would be hard pressed to even develop a sufficiently diversified stock portfolio. This doesn’t even account for all of the other possible asset classes which can provide protection when stock prices are falling.

By utilizing ETF’s for example, an individual investor would be able to split their money across a variety of asset classes. There are often correlations between asset classes that make it possible to protect yourself from the volatility inherent in the markets. When stocks are falling, bonds are often rising. When bonds are falling, commodities may be rising. If commodities are falling, real estate could be on the upswing. By spreading your risk amongst the various asset classes you may limit your upside somewhat, but you are also lowering the volatility of your portfolio, allowing for a much smoother increase in your assets.

While this article has just touched on the importance of asset allocation to personal finance and investing, I think you get the gist. To learn more about the art of asset allocation you should visit the amateurassetallocator.com website, where you can get more detailed information on various asset classes and how diversification can protect your portfolio.

Posted in Uncategorized | Comments Off on The Importance of Asset Allocation in Personal Finance and Investing