• BFSI

    Why You Should Consider Outsourcing Tax Preparation Services

    As tax season nears, many companies dread the inevitable paperwork that comes with filing documents on time and calculating the numbers. It is indeed challenging to build and maintain a workforce that fulfills business needs in a variety of areas, such as return preparation, tax filing and tax payments. The solution for many companies is to outsource these tax functions, leading to more convenience for your business. Tax planning is one of the most crucial factors for a company, but every firm requires a unique strategy. There are several benefits to outsourcing a company’s tax preparation responsibilities that every entrepreneur should know. Here are the top reasons why businesses should…

  • BFSI

    CFO Services for Startups under Financial Stress

    If the COVID-19 pandemic has taught businesses anything, it’s that they must be prepared at all times. But preparing often requires knowing what’s ahead via forecasting and data projections, and something like a pandemic, a weather event, or a health crisis can’t always be predicted. That’s why, in addition to preparation, you should have a high-level defensive strategy to deploy when unexpected events hit your business and cause financial stress. It’s no secret that businesses all over the world are facing financial stress as the pandemic continues to loom large. But this may not be the first — or last — time your business has financial challenges in front of…

  • BFSI

    How an Outsourced CFO Can Help with Due Diligence

    Acquiring another company to get access to new customers, products or technologies can be one of the most critical decisions a business owner can make. Fortunately, your CFO is in a unique position to contribute significantly to the merger and acquisition (M&A) transaction process and, eventually, influence the success of the deal. A CFO is required to carry out a wide range of tasks, from corporate strategy and board engagement to obtaining financing and reporting to stakeholders. However, M&A work can be more complex today than ever before, so it’s essential to have a specialized team member who can handle the due diligence required of these transactions. Hiring a full-time,…

  • BFSI

    Top Human Resource Management Challenges That You Need to Look After

    The business world is constantly changing, giving rise to a number of human resource management (HRM) challenges. HR professionals have to perform tasks such as workforce planning, training and development, compensation and benefits, while handling legal issues, among other responsibilities. HRM can be a challenge for small businesses because most don’t have in-house HR departments to rely on. Here are eight HRM challenges that startup owners have to face. . 1. Attracting Top Talent: Attracting the best talent takes time, sound judgment and a whole lot of work. This is why this human resource task tops the list of challenges faced by HR professionals. To attract the right people for…

  • BFSI,  Industrial

    What Are the Functions of Payroll Services vs. Human Resources?

    Payroll and human resources (HR) are two extremely distinct functions within a company. While payroll deals with the compensation of employees, HR primarily handles employee relations. However, there are situations where the two roles overlap, and are often performed by the same person, especially in a small company. While this arrangement might look good on paper, since it involves fewer employees to pay and an integrated approach to the functioning of the company, it can cause many problems. A company owner must know the differences in their functions and terminology, but also how the two functions can work together to produce better results. Functions of Payroll Payroll refers to the process…

  • BFSI

    5 Reasons Why You Should Consider Outsourced Accounting Services

    Many business owners find that they save time, money and stress by moving from an in-house accounting department to an outsourced one. While the outsourced company takes care of your financial needs, you can stay focused on value-added, revenue-generating tasks such as business development and making strategic business decisions. Check the following five reasons why you should consider outsourcing your accounting functions. 1. Boost Compliance with the Latest Rules and Regulations Outsourcing accounting services can not only help you manage your growth, but can also ensure compliance with the latest regulations when it comes to city, state and federal laws? A specialized outsourcing company will remain up-to-date with the latest financial…

  • BFSI,  Industrial

    Importance of Payroll Outsourcing Companies and Payroll Software

    Processing payroll in-house can be costly, time-consuming, tedious and prone to errors. In addition, entrepreneurs may have trouble having all the payroll software on-hand to complete payroll tasks accurately and compliantly. Therefore, many business owners have come to prefer the expertise of payroll outsourcing companies. Check out a few reasons why payroll outsourcing and software could help your business enjoy error-free, secure and compliant payroll processing. Save Time and Money No matter how many employees a business has, processing payroll requires a lot of time, as well as tremendous attention to detail. Payroll outsourcing companies can free up that time, which you as the entrepreneur can then dedicate to more…

  • BFSI

    Best HR Outsourcing Services for Small Businesses in 2020

    Your small business is growing and thriving, thanks to your entrepreneurial efforts to cultivate new customers, finalize sales and expand your product line. But one area where you haven’t had time to focus too strongly is in the HR sector. Although this is common for many founders, it’s a problem that has to be rectified swiftly. That’s because if your company isn’t staying up to date on employment and labor laws, benefits administration, new employee onboarding and payroll processes, then you could be setting yourself up for serious issues. One way to ensure that your company is on top of its HR obligations without disrupting your company flow is to outsource…

  • BFSI

    How the Shifting Payroll Market Is Impacting Business

    Today’s payroll processes require a lot more from you than simply reading an employee’s timesheet and writing a check. You must know the patient’s tax withholdings, benefits and much more before you can manage their payroll. In addition, as the compliance rules change rapidly, you have to stay on top of them while also protecting all of the information in your system. These requirements mean that most small businesses must adapt to an ever-shifting payroll environment in which they have to invest hours of time. The ripple effects throughout the business world mean that the impact runs far and wide. Consider these changes that are happening in the business industry…

  • BFSI

    Functionalities of Outsourcing Bookkeeping Services for Small Businesses

    If your business is growing, chances are strong that you spend quite a bit of time managing the books. From paying vendors to depositing checks, bookkeeping can take up a significant amount of your time, but if you want those hours back, you should consider outsourcing your bookkeeping services. Taking this step by outsourcing to a reputable bookkeeping firm will not only allow you to save time, but it can also help you save money. By not hiring a staff member to handle the books, you can save on salaries, office space, technology, benefits and more. In contrast, with an outsourced firm, you only pay for the services you need,…