Finance and Accounting Outsourcing
OVERVIEW
The services offered within our Finance and Accounting Services groups generally fall into three categories:
- Financial statement preparation using the accounting data provided by you the client
- Transaction processing such as entering accounts payable, receiving approval for payments, sending payments
- CFO/Controllership services including reviewing financial performance and providing input and strategies to improve business processes and performance
Client Accounting Services such as transaction processing and CFO/Controller services are a form of Finance and Accounting Outsourcing (FAO).
Companies that partner with Wipfli/JOSEPH EVE have access to Finance & Accounting thought leadership, insights and data to enable them to achieve high performing and highly efficient back office operations that provides unparalleled knowledge and resources to become a transformation entity.
Effective Finance and Accounting Outsourcing must continually focus on the key drivers of People, Process and Technology, to ensure continued improvement can be throughout the delivery model. The following questions need to be answered:
- Can the organization make the transition?
- Is there sufficient process documentation and metrics?
- Are the right people in the organization to make it happen?
- Has the right technology been selected to support the initiative?
- Is there adequate executive commitment and oversight?
At Wipfli/JOSEPH EVE, we design, deploy and manage outsourced human capital, finance and accounting transaction processing, financial analysis and technology infrastructure solutions that meet your companies combined in-house and offsite business processing requirements.
Through Wipfli/JOSEPH EVE’s operational assessment and risk analysis, your company gets a forward-looking, panoramic view of the business impact of various delivery alternatives. This insight provides a rational assessment of the realities and potential risks of transition and change; all the knowledge needed to help you make an informed decision.
- Client Assessment & Discovery
- Design & Risk Assessment
- Implementation
- Service, Support & Monitoring
Wipfli/JOSEPH EVE recommends using its assessment engine as it creates the framework and best practices for providing outsourced finance and accounting services on the right Service Delivery Platform for your business.
Upon completion of the examination and discovery phase, business analyst will model the current operational infrastructure to reflect a physical diagram of the business operations as it presently exists. Once the physical operating environment is modeled, our FAO business analyst will re-engineer the current operational workflow model to incorporate outsourcing of FA business processes using the right technology platform. This re-design may also include the automation of certain tasks and/or business processes. After process models are re-designed, analyst document recommended procedural workflow and additional software components recommended in the implementation process.
Upon completion of the FAO Design the entire process is reviewed by members of the risk and compliance team. Our FAO Risk assessment should are divided into five areas of risk management:
- Strategic Risk
- Operational
- Compliance Risk
- SLA Risk
- Exit Risk
The Implementation process involves individuals with technical skills to handle data conversion, GL account grouping and configuration.
We deploy a proven commercial framework to support our contractual F&A service commitments, offering F&A transactional delivery services to your company. Our team of back-office professionals are highly trained and provide you with a virtual back-office. We can accommodate the full spectrum of accounting, finance, and bookkeeping activities.
For additional information please call Joseph Eve or Grant Eve at (406) 255-3535.
Or feel free to send us an Email.