Foreign Services

SCP believes that the real global competitive business advantage is the effectiveness and efficiency of the accounting and finance functions. It is the key to the reliable financial information and appropriate business management decisions. Thus, SCP offers the Synchro-Integration of Cost-effective Offshore Solutions (SICO Solutions), a comprehensive finance and accounting services outsourcing of functions as follows:

Accounts receivable

• Bank advice clearance
• Client billings
• Client settlement
• Suspense clearance

Payable Management

• Cash application and allocation
• Cash and bank payment entries
• Accounts payable reconciliation
• Statutory dues
  

Payroll Processing

• Calculation of employer and employee tax
• Preparation of payroll based on the time sheets
• Payroll reconciliation
  

Accounts Reconciliation

• Bank reconciliation
• Third party settlement
• Assets and Liabilities reconciliation
• Fixed asset accounting
• Branch accounting

Financial reporting

• Preparation of books of accounts
• Monthly financial reports
• Financial statement analysis
• Statutory reporting

SICO Solutions assures its clients of the quality and security of the information results. It is fully supported with appropriate business solution, reliable IT systems and infrastructure and fully equipped, highly-trained and customer- friendly professional staff.

Methodology

BPO project and related benefits such as savings, efficiency, etc. are not achieved overnight.

Significant investment in terms of time, efforts and money is often required from the pre-acceptance stage. Knowledge transfer is very critical to the success of the project. The appropriate strategy for every business will depend on its industry, size and unique processing requirement.

To optimize project success, SICO Solutions follows a well-designed methodology that will ensure quality results. The methodology is divided into phases as follows:

I. Pre Engagement Phase

II. Process Definition Phase

III. Testing Phase

IV. Implementation Phase

Methodology is generally applied to all types of engagement but may vary depending on the needs, requirements and expectations of the clients.

The critical success factors for BPO engagements follows:

• Defined strategy that measures opportunities and presents an implementation approach
• Effective approach to knowledge-transfer and expertise
• Highly trained professionals, IT platforms and defined business processes and quality control audits
• Clearly defined roles, functions and responsibilities for offshore, local and interface teams
• Closely managed, coordinated and monitored offshore activities