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Nobody is predicting that all the finance activities will be outsourced. But finance remains at the top positing as far as outsourcing is concerned. Researches convey that financial and accounting outsourcing will remain at the top as far as outsourcing is concerned. The financial and accounting detail should be available timely so that the organization is a step ahead from other competitors. The outsourcing of back office accounting helps the client to focus on the core business while cutting costs.

Finance and accounting outsourcing typically involves managing procedure driven functions like account payable, general ledger, fixed assets, accounts receivable, billing, and payroll. I must tell you that finance and accounting are the most important department of any company. From here only one comes to know that what amount is available with them and what can they invest. I would like to give you an example. You must know that if you are doing some kind of job then, you must be getting some fixed amount as a salary. You might be paid weekly or you might be paid monthly. However you will have to pass the whole month with that amount. I must tell you that salary management is a king of accounting.

A company outsources some of its department just because they think that it will be managed properly. I would like to give you an example of Coca Cola which is now marketing company because it fully depends on outsourcing.

I would like to give you a list of outsource business processes. They are:

1. Benefits management- 51%
2. Payroll- 49%
3. Human resources- 26%
4. Internal auditing- 26%.

Benefits of finance and accounting outsourcing:

1. One end supermarket for all finance and accounting services.
2. Inferior finance and accounting operating cost.
3. Superior outsourcing and faster processing.
4. Optimized collection, Tax management, risk management and financial reporting.

I must tell you that till now you have only read advantages of outsourcing. However there are some disadvantages as well. I must tell you that the security of all the secret documents is put on sword by outsourcing. You might always fell that you might be cheated. Moreover the employees are not happy if they are outsourced. They take it otherwise and I must tell you that feel unsecured if they are outsourced. However original employees of the companies feel lots of advantages over outsourced employees. The company pays a fixed percentage of the profit to the company which manages outsourcing. I must again tell that companies like coca cola has all its departments being out sourced. It is now a marketing company. I hope you would have got some idea about accounting and finance outsourcing.