We have been providing business solutions to our clients for more than 24 years. And throughout this time, our alternatives have not only increased the efficiency of our customers but also given them peace of mind.
Learning and Talent
HR Statutory Compliance
FINANCE AND ACCOUNTING
Financial Reporting and
Tax and Corporate
Cost Reduction is No Longer the Main Driver of Finance and Accounting Outsourcing; Efficiency is
It was a good problem to have, but it was a problem, nonetheless.
Back when it was a start-up, this company based in the Philippines used to have an admin staff member to process all administrative matters for the business – from hiring and taking care of the salaries of employees, to financial matters such as payroll, invoice processing, and finance reporting. It came in handy that this admin officer had bookkeeping background. Long story short, the admin person got all financial records in order using various Microsoft Excel worksheet templates created by a CPA consultant, who also helps out managing the company’s books every three months.
But then, success came. The company started getting more clients. Even the business evolved as it started to offer new services that are peripheral to its core competencies. More people were hired to sustain the demands of client servicing.
Success for this company, quite ironically, came at a cost. Payroll management was no longer as simple as it used to be. More
invoices had to be processed and billing had to be collected on time to prevent opportunity loss.
The single-admin-staff set up was no longer working out and the company had to hire three more people to create a finance and accounting (F&A) department, just to be able to keep up with the 60 to 80 invoices being Processed monthly. The CPA consultant wanted to renegotiate his contract, given the huge volume of transactions that must be logged and reported. He also argued that the renegotiated fee should also cover the cost of him training the new hires in the F&A department.
This is not a fictitious company. It’s an actual firm that had to send out SOS signals to CPI Outsourcing because as a business matures, it can no longer afford to rely on relatively basic transactional processes, such as payroll accounting, accounts payable, and accounts receivable. The pace by which the company is growing also requires more strategic functions, like budgets, forecasts, and internal Compliances
company is growing also requires more strategic functions, like budgets, forecasts, and internal audits.