Timely, accurate financial and accounting information is crucial for corporations hoping to maintain a competitive edge in the market. Outsourcing back-office Finance and Accounting (F&A) enables the client to focus on their core business while cutting costs.
Many F&A departments spend most of their time on this constant stream of work. This focus on the routine distracts from a strategic focus on improving the organization’s financial performance. Managers and analysts spend most of their time supervising staff and dealing with the daily problems of high volume production work. This leaves little time to fulfill important ad hoc reporting requests or to work on strategic initiatives. For example, developing and managing a strategy to hedge against exchange rate risk is hard in the face of assuring that hundreds of customized bill formats are generated correctly.
Finance and accounting outsourcing typically involves managing procedure-driven functions such as accounts payable, general ledger, fixed assets, accounts receivable, billing, payroll, and benefits administration, among others.
Financial & Accounting Services provided by Phoenix ranges from general accounting to specialized services such as treasury and cash management services.
Phoenix Management &Consulting Group offerings include:
• Billing services
• Accounts payable outsourcing
• Accounts receivable outsourcing
• General accounting
• Tax Preparation Outsourcing
• Payroll Outsourcing
• Treasury & cash management
• One stop-shop for all finance & accounting services
• Lower finance & accounting overheads
• Greater accuracy and faster processing
• Optimized collections, tax management, risk management, financial reporting etc.