Financial Accounting/ Bookkeeping Outsourcing
What Do We Provide?
Bank Reconciliation
Cash Flow
Data Entry
Balance Sheet
Backlog cleanup
Financial forecasting
Cloud-based software setup
Management Accounting
Accounts payable & receivables
Year-end closing and reporting support
Financial analysis and reporting
Income Statement/ Profit and Loss Account
Standard workflow process: Job execution
- Job assignment with clear instructions of outcome (SOPs if available)
- define timelines and completion date
- define timelines and completion date
- Data exchange by client
- Work initiation by Openco
- Openco queries shared with client
- response received from client
- Finalisation upon comprehensive review by manager
- Deliverable sharing and feedback from client
How we ensure quality & delivery
- Weekly/ Fortnighly staff training on Law updates – to keep our team up-to-date
- Client specific procedure training – to ensure alignment with client requirement
- Preparation of Client specific SOPs to maintain quality of deliverables
- Comprehensive Review of All Deliverables – to ensure accuracy and staff learning
- Experienced Team of Professionals – incl. CAs, CPAs & Commerce graduate/ post graduates
- Weekly Client Meetings - to keep a track on status of projects
- Weekly timesheets by all employees
Data Exchange
Data Security at OpenCo - Protecting Your Information with the Highest Standards
- Firewalls
- 24/7 CCTV surveillance
- Internal server backup to prevent loss of data
- Data encryption across data storage devices
- CASB (Cloud Access Security Broker) safeguards to avoid data leakages, including protocols against potential attacks and breaches
- Secured cloud-based data storage
- User access control with 2FA (two factor authentication) for secure login
Engagement models
Pay-As-You-Go Model
- Ideal for small to medium-sized clients with variable requirements:
- Flexible hourly or monthly billing options.
- Transparent timesheets shared for feedback and process optimization.
- Learning and non-productive hours are not fully charged, ensuring cost-effectiveness.
Fixed Engagement Model
- Designed for businesses with consistent and predictable needs:
- Comprehensive accounting services delivered with customized reports.
- Scheduled tasks based on workload—weekly, bi-weekly, or monthly.
- Pricing tailored to the complexity and transaction volume.
Offshoring Model
- Perfect for firms managing multiple clients:
- Dedicated professionals act as an extension of your in-house team.
- Flexible billing options—fixed monthly fees (based on committed hours) or hourly rates.
- Seamless communication through established overlap hours.
What’s Included in All Our Models
- A dedicated team manager who reports directly to you or your designated point of contact.
- Regular reporting—daily, weekly, or monthly—to keep you informed.
- Unlimited phone and email support for any queries or concerns.
- Scalability to adjust your team size up or down as your needs evolve