“Transform Outsourcing Services”
BOOK KEEPING & ACCOUNTING OUTSOURCING PROPOSAL
www.aerenlpo.com Registered office: SCO 35, Second Floor, Sector -26, Chandigarh 160 019 Tel- 91-172-2790366, 2790075, Fax-91-172-2790260, Mobile-09814011278 E-mail: raman@ramanaggarwal.com , Website: www.aerenlpo.com www.aerenoutsourcing.com, www.aerenbpo.com www.aerenlpo.com
1
CONTENTS
S. NO
CONTENT
PAGE
1.
Vision & Mission
3
2.
Approach
4
3.
Scope of Services
5
4.
Proposed Engagement Model
5.
Fee/ Billing Rate Chart
8
6.
Process Flow Chart
9
7.
Transport Of Information
10
8.
Project Meetings
11
9.
Reporting
12
10.
Complaints Handling
13
11.
Quality Practices
14
12.
Data Security Practice
15
13.
Key Benefits Of Outsourcing
16
14.
View of Our Upcoming Facilities
17
6-7
VISION & MISSION www.aerenlpo.com
2
VISION “To Transform Outsourcing Services”
MISSION “To deliver long term benefits and measurable value to our customers by leveraging our”: •
Tenets of quality and innovation
•
Best People Talent
•
Self sustaining processes framework
•
Cutting edge technology
•
Domain knowledge & expertise
•
Highest Level of Security & Confidentiality Measures
APPROACH
www.aerenlpo.com
3
•
Cost reduction through enhancement of productivity, innovation, cutting edge technology and best practices
•
Hire best talents from ACCOUNTING industry and its development through continuous education and training program
•
Highest standard of quality to ensure defect free services
•
Enhancement of total performance through ongoing technology transformation,
process
re-engineering
and
continuous
process
improvement •
Flexible and transparent delivery and engagement model
•
Enhancing security, privacy and confidentiality
•
Robust governance
•
Risk mitigation through robust risk management framework
SCOPE OF SERVICES
www.aerenlpo.com
4
1) Weekly/bio/monthly Book Keeping Services 2) Bank Reconciliations 3) GST/VAT 4) Trial Balances 5) Financial statements
For more services, you can visit our website www.indianmuneem.com
PROPOSED ENGAGEMENT MODEL
www.aerenlpo.com
5
(A)
HOURLY BASED METHOD Under this method, we charge as per number of hours spent on the project.
(B)
FULL TIME EQUIVALENT (FTE)/STAFFING BASED METHOD FULL TIME EQUIVALENT (FTE): It is an engagement model whereby we deploy the equivalent number of legal experts as the client would have/had in his country to suit the project needs of the client company/firm. We charge the client on the basis of number of people deployed for that particular client.
ADVANTAGES •
A dedicated team of resources (Attorney / Paralegal) and the infrastructure.
•
FTE Business Model is your “Virtual Legal Department” in offshore jurisdiction.
•
High Flexibility: FTE provides you with high flexibility wherein you can choose work task for your dedicated recourse and can follow a development cycle customized to your business project.
•
Lowest Possible Cost: The cost is pre-determined giving you project budget predictability and allows close watch.
•
High Project Monitoring: With FTE the client involvement is high with day-to-day monitoring of the resource. This allows putting benchmarks and easy follow-up.
•
IT Chimes Team and Infrastructure: With FTE our client enjoy our expert team consultancy, project manager’s services and our state of the art IT infrastructure at 1/3rd of the cost in comparison to on-site services.
COST SAVING
COST CALCULATOR FOR BOOK KEEPER (EXP. 1-2 YRS)
www.aerenlpo.com
6
Sr.
Personal Cost
No.
Now In-House
If Outsourced
(Monthly in USD)
(Monthly in USD)
3,000
1,200
A
Salary
B
Benefits 20% of ‘A’
600
C
Insurance 20% of ‘A’
600
D
Associated cost 10% of ‘A’ (Recruitment, Hiring, and Training etc.)
300
E
Overheads 35% ‘A’ (Real estate, Infrastructure & support cost)
1,050
Total cost
5,550
Net savings: 5,550-1,200 = 4,350 per FTE Employee
1,200
(See Note)
COST CALCULATOR FOR JUNIOR ACCOUNTANT (EXP. 5-7 YRS) Sr.
Personal Cost
No.
Now In-House
If Outsourced
(Monthly in USD)
(Monthly in USD) 1,750
A
Salary
6,000
B
Benefits 20% of ‘A’
1,200
C
Insurance 20% of ‘A’
1,200
D
Associated cost 10% of ‘A’ (Recruitment, Hiring, and Training etc.)
E
Overheads 35% ‘A’ (Real estate, Infrastructure & support cost)
Total cost
600 2,100
11,100
Net savings: 11,100-1,750 = 9,350 per FTE Employee
1,750
(See Note)
Note: Improved process will also result in increased productivity there by further significant cost savings.
FEE/BILLING RATE CHART
www.aerenlpo.com
7
(A) HOURLY BASED METHOD USD 6 per hour (The includes time spent by Senior Accountant also)
(B) FULL TIME EQUIVALENT (FTE) PRICING MODEL Sr. No. 1 2
Attorney Book keeper (Exp. 1-2 yrs) Junior Accountants (Exp. 3-5 yrs)
Fee (In USD) $ 1,100 per month $ 1,550 per month
STANDARD TERMS AND CONDITIONS: 1. FTE employee will work for 40 hrs. a week 2. FTE employee will be entitled to 34 holidays in a year which are statutory holidays which may subject to changes according to law. 3. Over time will be charged separately. 4. Upgrading of FTE employee will be done by giving prior notice of two weeks. 5. Down grading of FTE employee will be done by giving prior notice of three months. 6. Minimum charges per FTE employee will be for three months. 7. FTE fee will be paid in advance.
PROCESS FLOW CHART
www.aerenlpo.com
8
A. Setup of Account
(Applicable in case of client having no past data)
B. Entries:i)
Review of last year Accounts
ii)
Extracting of Information from source documents
iii) Punching entry into Accounting software iv) Creation of New Accounts v)
Modification
vi) Checking of entered Transaction vii) Final Quality Check viii)
Queries and its Settlement
ix) Reporting
TRANSPORT OF INFORMATION
CLIENT & THEIR CRITICAL REQUIREMENTS www.aerenlpo.com
9
TRANSPORT OF INFORMATION
SECURE NETWORK
CLIENT IN ORIGIN COUNTRY
OUR TEAM IN INDIA
PHONE LINES UPLOAD THE COMPLETE PROJECT
SKYPE
REGULAR PHONE LINE
COMPLETION OF PROJECT IN TAT
ACCESS TO INFORMATION / DOCUMENTS
IDENTIFY PREVILIGED DOCUMENTS
PROJECT MEETINGS
Periodical project meetings shall be conducted to discuss the status of project and any queries or doubts.
www.aerenlpo.com
10
COMMUNICATIONS: 1. The prior intimation shall be given to the parties forty eight hours prior to the scheduled project meeting. 2. The communication of the project meeting shall be given by the way of •
By Skype
•
By E-mail
•
By Teleconference
3. The venue for the project meeting shall either be teleconferencing or Skype conference.
REPORTING
The periodical reports shall be submitted by us in format as mutually decided by the parties.
www.aerenlpo.com
11
The periodic reports shall be inclusive of following: 1. The services / work performed by Aeren team in the month 2. FTE employee dedicated exclusively for the project including time sheet 3. Monthly invoice for the services rendered by the client
COMPLAINTS HANDLING
www.aerenlpo.com
12
“Client Satisfaction is Our Prime Concern” Aeren will deploy team who will be handling every complaint from client. •
Client will be provided with the contact details of the complaint officer who will be responsible to address all of his complaints.
•
The complaint officer will take action on each complaint within same working day.
•
In case of administrative complaint same will be resolved within same working day.
•
In case of any technical complaint the same will be sorted out within 2 working days.
QUALITY PRACTICES
www.aerenlpo.com
13
“Quality is integral to our operation excellence & our Quality philosophy is a tangible expression of one of our core values”. Aeren follows a THREE-PRONG approach to maintain quality of the work product: 1. Selective recruitment, rigorous training and close oversight and review. Aeren is very selective about its recruitment practices and only recruits professionals who graduate from top professional institutions, have extensive work experience, and excellent English speaking and writing skills. 2.
High standards of recruitment are supplemented with extensive training. All Aeren professionals undergo rigorous training program design to cultivate each employee’s ability to be created and consistently delivery the highest level of work quality under time constraints.
3. All work products is subject to very close oversight and review by senior and experience members of the team servicing a project, and subsequently reviewed
by
extensively
trained
dedicated
quality
department
with
standardize procedures and quality manuals.
DATA SECURITY PRACTICE •
www.aerenlpo.com
14
Physical and Work floor Security •
Screening of visitors/employees by a security guard during entry and exit for data storage media like CDS
•
USB drives and CDS are banned from work-floor
Data Security •
All data is backed up regularly either in client’s server farms or out data servers depending on client choice
Network Security •
Use of secured line (128 bit SSL) to access and transmit data (images) from servers
•
Segmented LAN with firewall protection
•
All ports except DNS and SMTP servers are disabled for the external world
PC Security •
Access to source documents is restricted to authorized employees only
•
No fax and printing capabilities at the processing site
•
PCs used by processing do not have CD ROM drives
•
PCs used in processing are denied web access
•
Limited usage of paper in the work-floor
www.aerenlpo.com
15
KEY BENEFITS OF OUTSOURCING
•
Access to world class talent pool in India
•
Cost saving up-to 60% to 80%
•
Domain expertise than process expertise
•
Strong English language skills
•
Dexterous in legal activities (Domestic / Foreign)
•
Domain expertise
•
Access to “State of the Art” IT infrastructure
www.aerenlpo.com
16
VIEW OF OUR FACILITIES
www.aerenlpo.com
17