Accounting and Finance Services forms an integral part of business operations. With intense competition and growing business across boundaries, many companies are outsourcing accounting and finance services to specialized accounting and finance to bring down operational cost and increase efficiency in operations. Availability of skilled accountants and workforce, latest accounting and finance software’s, low cost of labour and high security to the clients makes India a popular outsource destination for accounting and financial services.
Many foreign companies of US, UK, Australia, Canada and Dubai are outsourcing their work to Indian accountants and finance professionals due to fast, quality, cost savy and wide range of services provided by India.
You can outsource accounting and financial services which can cover overall customized solutions meeting the needs of global clients with a wide range of services in India such as-
- General Accounting and Bookkeeping Services
- Preparation of Financial Statements
- Financial analysis
- Payroll processing
- Tax preparation
- Cash Forecasting Services
- Debt Collection Services
- Cash Handling Services
- E-accounting services, etc.
Benefits to Outsource Accounts and Finance Services to India
- High Skilled Professional – India have high number of accounting professionals – 2nd largest in the world after USA. High skilled Indian professionals providing high quality service at reasonable prices are attracting huge projects outsourced from both developed and countries like US, UK, Australia, Canada, UAE, etc.
- Friendly Outsourcing Facilities – India have flexible and supporting outsourcing policies which is promoting accounts and finance services outsource from India.
- One stop destination for all business requirements – India provides range of accounting and finance services like financial analysis, payroll processing, tax preparation or book-keeping, making it a one stop destination for all business solutions.
- Cost savvy – India providing best professional services at 40-50% lower cost than other developed countries. Outsourcing of Accounting and Finance services will not only help big businesses to grow but also help small businesses and start-ups to save cost through streamlining accounting processes and focusing on priority areas of business.
- Security and confidentiality of financial data – Security and confidentiality of financial data is completely ensured in India. Use of secure FTP server or encrypted e-mails are used while document upload/download to protect the privacy of data.
- Quality and customized service with the use of latest technology– Indian companies provides high quality services with latest technology and customized solutions to foreign businesses as per their business needs.
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Top Financial and Accounting Firms in India
India is the market to the best accounting and finance firms for both domestic and outsourcing needs. As per the report of Hexagon consulting (2017), India’s outsourcing business has reached US$ 118 billion demonstrating India have potential in outsourcing landscape.
Tholons 2016 study shows that among Top 100 Outsourcing Destinations, 5 Indian cities have got good positions with Bangalore has the highest share of outsourcing business in India followed by Mumbai, Pune, Hyderabad and Delhi.
Best Accounting and Bookkeeping Services in India-
- Finsmart Solutions – Operating since 2007, Finsmart covers monthly accounting entries, statutory dues calculation and payment, statutory compliance, bank reconciliation, monthly book closures and monthly management reports, etc. under outsourcing accounting and bookkeeping services. It also works as a ‘Virtual Accountant’ giving support in other areas like record maintenance, advice on accounting process and controls, necessary details to auditors and attending to auditor queries. With ‘onsite’ accounting services it maintains frequency in managing accounting tasks.
- Radisson Consulting – Radisson Consulting is a trusted name in Indian market with highly qualified professionals and proven track record. The company provides premium services to its clients in developing countries and help in their business growth. Services offered includes –tax, regulatory, assurance, corporate finance and real estate advisory with focus on consulting and compliance services.
- CA Matters online- Provides business outsourcing services like monthly book-keeping, tax compliance, internal audits, audit and assurance, payroll management and corporate law compliance. Clients can access their accounts 24X7 with customized MIS reports available every quarter.
- Adventus Business Services – Company offers book-keeping services, accounting and tax preparation services to its clients reducing their finance and accounts operating costs. With many successful projects from big companies like Punj Lloyd, NPCL, Emerald Group Publishing, BMW, Benetton, etc. Adventus Business Services is one of the most renowned name in India for Book-Keeping services.
Apart from the above mentioned companies, many other Indian companies like Flookup, TAD Accounting, Book2taxes, Ignitespot, and Accounting Department.com are providing Accounting and Finance services to their Indian and International clients.
India have good number of accounting firms providing accounts and audit services. Top financial advisory services includes Sachin Gujar & Associates (SGA), MK Tyagi and Co, Lodha & Co, SS Kothari Mehta & Co., Luthra & Luthra, Khanna & Anandhanam, Walker Chandiok & Co. (Grant Thornton), MZSK and Associates (BDO International), Desai, Haribhakti & Co. (Baker Tilly), Sharp and Tannan (Nexia), Dewan P.N. Chopra & Co., etc. Many of these companies are also providing professional expertise to foreign companies to set up their business in India.
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Top Financial Advisory Companies in India
In today’s world, it has become very difficult to analyse which investment plan best suits you or your business. To guide on the financial needs and to choose the best investment, we have some very good financial companies offering advisory to both Indian and International companies. Apart from the Big 4 Companies- KPMG, E&Y, Deloitte and Pwc, we have many Indian companies providing quality financial advisory. The top financial advisory companies are as follows-
- Bajaj Capital Limited
- S. P. Merrill Lynch Limited
- Go 4 Advisory Services
- Kotak Private Equity Group
- Paar Tax And Investments Consultants Limited
- N. Vijay Financial Services Private Limited
- Unit Trust Of India
- River Bridge Investment Advisors Private Limited
Very Informative article. I would love to add one point in the section of the benefits of outsourcing accounting is many outsourcing accounting firms provide 2-way process to deliver the error-free work. Also, before choosing any firm for your accounting work, You must check the client testimonials of the company.
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