BPO SERVICES Financial Services Financial Services A Financial Statement is a written report that quantitatively summarizes the financial status of an organization for a stated period of time. It includes an income statement and balance sheet describing the flow of resources, profit or loss, and the distribution or retention of profits. It is a statutory requirement for every organization, irrespective of the kind and size, to prepare and maintain financial statements. In this competitive age, every organization, irrespective of its size of operation needs to concentrate on core processes to succeed. This has further increased the need to outsource their non-core processes to specialists. Outsourcing the preparation and maintenance of financial statement is one such service. Types of Financial Statement Preparation Outsourced Income statement: An income statement is a financial statement containing the net income/net loss incurred by an organisation during a particular period of time. It is also known as a Profit/Loss Statement. Net income/Net loss is calculated by adding all the revenues during a certain period and subtracting all the expenses incurred in the same period. An income statement usually contains Gross Revenue (Gross Sales), Costs of Goods sold, Returns and allowances, Selling, General and Administrative Expenses, Net Income(profit) or Net loss. Balance Sheet: A Balance Sheet is a very important financial statement depicting the financial position of an organisation on a particular date. It lists the Assets (what the business owns) and Liabilities (what a business owes). The difference between the two is known as the Net Worth of the organisation. Cash Flow Statement: A cash Flow Statement depicts an organisation's cash position during a period of time. It has three categories: Financial Activities, Operating Activities and Investment Activities. It also depicts the increase or decrease in cash and also the percentage change on comparing the statements of two different periods. FINANCIAL SERVICES     Forum Name : E-Mail : Phone : Services : Comments :

Business Process Outsourcing (BPO) Services essentially means long-term contracting of non-core business operations to outside provider to help increase shareholder value. The outside provider operates and manages the process outsourced on defined and measurable performance criteria. BPO has proved to be extremely helpful in optimizing business performance and attain value creation.

At present, BPO Industry is burgeoning in India. Business Managers in Western countries are finding it extremely advantageous to outsource various kinds of jobs to developing countries such as India. This is because BPO Industry is highly organized in India. People here have the expertise in reducing costs and at the same time have a firm control on the quality of the service.

Advantages of BPO Services
There are numerous advantages of BPO Services that are making this industry thrive and prosper:

Cost Savings: The biggest advantage of outsourcing services is the cost saving. BPO Service Providers employ talented and skilled professionals who work on comparatively much lower payroll. Besides, companies save a lot by avoiding extensive capital expenditure. BPO Service Providers harness the economies of scale by taking orders in bulk and thereby reduce the cost of service to a considerable extent.

Focus on Core Areas: Companies that outsource non-core business services are able to focus better on their core areas. This is because they can make better utilization of their capital, employees and workspace. This helps companies to increase productivity and customer satisfaction. Besides, there are able to avoid a lot of hassles related to outsourced work and management of extra employees that they would have had to hire in the absence of outsourcing services.

Get the Job done with Expertise: BPO Service Providers train their employees extensively to ensure best of the service to their clients. They also make huge capital investment to procure latest and most advanced hardware and software to perform the outsourced operation. Hence, companies can get best of the service and also avoid hassles and investments by outsourcing services.

Advantages of BPO Services in India
BPO Service Industry is doing exceptionally well in India because of the following advantages: