Outsourcing Finance Dept - Pdf Download

Dear All,
I am working as HR Head in realty sector. Our organisation has decide to outsourced the finance and accounts department to a chartered firm. I need suggestion on the same before taking further steps. My questions are-

• What can be the pros and cons of outsourcing such a important department like finance and accounts?
• should we go for outsourcing the entire thing or better to opt for shared service?

Please suggest.
Rgds..
DG

Hi DG,
I know I am replying a bit late but still nice question. I tell you there are various considerations. the discussion has to be at length. Major factors are the size of your company and the management philosophy.
In case of a mid sized company, control for these area should not totally be left to outsiders, however the natural benefit of outsourcing should be used by outsourcing part and selective processes.
In case of a very big company also they generally outsource the clerical part of it, and the managerial and decision making content remains with the company. But there the o/s is quite structured. So there also its part outsourcing.
Now in case of small companies and firms, there can be total outsourcing.
I would always suggest to go with an outsourcing company who does outsourcing but carries out the same intelligently and not like a blind person.
subhash

Hi DG,
Any outsourcing initiative will have it's own pros and cons. In general, the outsourcing is done for the non-critical ones which are time consuming wherein no value add is being found by the management like bill processing, etc.,
It's the choice of management to decide with understanding on the outcome modalities, before being finalized as any sensitive information / data being accessed by an outsider will be devastative than an insider handling the same.
Hope this answers your query
Regards
Partha

Hi DG
Good Day
out sourcing is normally happen how days by MNC
where as come to your case
Advantages
1) Internal control will be good if internal staff making money.
2) Internal staff is not required to do daily transaction
3) If management and organisation is deffer in that time Out source is better than to internally
4) No need to take employee and save form statutory compliance
Dis Advantages
1) Confidentiality of your date
2) If out source company not work on daily basis it will create probles
3) Response of out source company
With Regards
S Umesh & Co
CA firm
9241608150
sumeshandco@gmail.com