case study - bpo accounting

FMCG supplier (£5M annual sales)

The opportunity to provide a service to this company followed a period of 18 months of sub-standard administration. The client take-on process was very thorough and all supplier and customer accounts were reconciled and verified and all other balance sheet accounts reconciled to year-end standard. All PAYE and VAT positions and returns were verified. Overdue accounts receivable have been reduced by 75%.

As a result of this professional and independent transaction processing and management reporting, the confidence of the lenders and other stakeholders in the business has increased substantially and management are free to concentrate on the development of the business. All stakeholders receive regular weekly and monthly management information.

As a result of this choice to outsource, the client company has been able to eliminate all financial administration staff and its accounting IT system and has been able to simply its IT network accordingly.

Scope of service: cash management, management of an online invoice discounting facility, payments and payment processing, sales invoice creation and processing, credit control, general ledger accounting, VAT and PAYE/NIC compliance, payroll, fixed asset accounting, purchase invoice processing, production of standard weekly and monthly management information.