Outsourcing Services

Outsourcing Services

SPARK provides a range of accounting, advisory, and compliance services to support the client and allow them to concentrate on their key area, i.e., business. Outsourcing processes also lead to cost optimization because of operational efficiencies and expert resource pooling.

The services that we provide are:

1. Accounting and Bookkeeping:
At SPARK, we custom-design our outsourcing services to meet your requirements and your business goals. We work as a customer’s virtual back office for all their bookkeeping and accounting work, right from the set-up, support, and maintenance to the accounting report.
This includes, but is not limited to:

• Accounting and bookkeeping
• Financial Data Processing
• Receivables Management
• Payables Management
• Fixed Assets and Stock Management
• Payroll Processing Reconciliations
• Accounting Review and MIS Reporting
• Finalization of Accounts

2. Transaction Process Optimization
We help the organization improve productivity and efficiency through financial transaction process optimization. Financial transaction processing involves a series of activities that are fundamental to doing day-to-day business, like accounts payables, inventory and fixed assets management, general ledger accounting, project accounting, travel and expense processing, and treasury management. We provide solutions after extensive review and analysis of the client’s systems and processes who are struggling in these areas by aligning systems and data, simplifying the consolidation of information across business units, adequately using technology for automated process controls, and reducing manual processing, thereby eliminating the risk of human error.

3. Human Resource Management and Payroll Processing
Our customized payroll processing services help you focus on what you are best at: running your own business. Our payroll management services allow you to take your human resources management to a higher level, ensuring error-free, timely, and accurate payroll processing.

It includes the following services, but is not limited to:
• Employee Self Service (ESS): Online technology for employees to view salary slips, submit IT declarations, decide FBP, and submit queries.
• Online Access to View/Print Salary Slip
• Automated Attendance and Leave Import/Export Solution
• Web-based Leave Solution
• Reimbursement Management
• Replace Excel with Web-based Processing of Payroll, Reimbursement, F&F, Reports Generation, and E-challan Generation.

4. Virtual CFO Services
Our CFO service brings visible value to startups and small/medium businesses in the manufacturing sector, services sector, trading sector, and other businesses where cash flow and the immediate needs of the business are critical considerations for the sustainability and growth of the business.

The CFO’s job is to provide strong internal controls, capable and efficient reporting systems, sound financial management, and advice to the company and its owners on the right strategy at the right time.
Our CFO services also provide essential attributes to the business and the management, like analytical capabilities, risk assessment, sensitivity analysis, and regulatory requirements. This helps in transforming information into knowledge (e.g., analyzing, interpreting, and evaluating activities), which in turn improves the quality and context of information for decision-makers in an independent and objective environment.

The various services that can be provided depend upon the needs and requirements of the client and are broadly classified as follows:

I. OPERATIONAL SUPPORT
1. Daily Operations
2. Ongoing financial reporting
3. Indian GAAP, US GAAP, and IFRS Reporting
4. Management Reporting
5. MIS
6. Recommendations on areas for improvement and future growth
7. Services related to cash improvement
8. Forecasts of income and expense

II. STRATEGIC PLANNING
1. Business Plan Assistance
2. Corporate Structuring
3. Sensitivity Analysis
4. Corporate Planning

III. INVESTOR RELATIONS 

Dealing with investors is an expert’s task. There are so many parameters in discussion that require immaculate presentation and decent presentation. A CFO can help take care of such tasks and also guide the discussions in a suitable direction.

IV. TURNAROUND MANAGEMENT
1. Due diligence
2. Need-Based Services
3. Compliance and tax planning
4. Pricing analysis and strategy
5. Workflow process development
6. Transaction structuring and reviews
7. Credit reviews
8. Litigation support
9. Resourcing and Training
10. Internal control improvement and implementation
11. Advice on asset purchases and disposal of surplus assets
12. Training, supervision, and development of the accounting team
13. Tax-return preparation
14. Consultation on business strategies
15. Management Consultancy
16. Human Resource Management
17. Business Process and Transformation Outsourcing
18. Mergers and Acquisitions
19.Debt Restructurings
20. Indian corporate regulatory compliances
21. Venturing a New Business Setup
The possible services are not confined to the above-mentioned list. We try to work closely with you, understand your needs in the realms of finance, accounting, and compliance, and provide you with custom-made solutions.