Accountants capability discussion
- 2. About Corient 2 About Us Corient is leading BPO Service Provider with a clear focus on Small and Medium Enterprises. We blend BPO services with Technology and Transformation Services to provide our customers leading edge services in Finance and Accounting, Back Office and Customer Relationship Management at reduced cost of operations Line of Services Location Clientele BPO Process Transformation Technology We provide safe, secure and cost effective book-keeping and accounts preparation services to Accountants clients and also to Small and Medium size Organisations. We are a registered Company in England and Wales with offices in Coventry, Midlands and Mumbai , India. The objective is to provide bouquet of services which are both onshore and offshore depending on customers requirements Our Clients include Care Homes, IT Companies, Retail, Manufacturing E Commerce Companies and Accountants
- 3. Corient Management Team Sachin Lohade Sachin is Chartered Accountant and has a experience of more than 14 years in setting up large Shared Services Center in F&A and HR. He has worked with Serco Plc, Price Waterhosuse Coppers and BDO International Punit Jain Punit is an MBA from Coventry University. and has a experience of more than 13 years in Finance and Accounting and Capital Markets. Punit in his prior job was responsible for setting up off shoring strategy for leading accounting firms Tina Rawka Tina is a Chartered Accountant and managed the Service Delivery in Finance and Accounting and Payroll. She has a experience of more than 14 years Barry Pendleton Barry has previously worked, for 20+ years, as a Practice Manager in an Accountancy firm. He was involved in every aspect of the management including the successful implementation of systems and compliance within the practice, dealing with HMRC and Companies House compliance and on-line filing
- 4. Our Service Offerings BPO Business Transformation Tools and Technology • Finance and Accounts • Book Keeping • Payroll • Transaction Processing and Back Office • Customer Service Management • Decision Support and Analytics • Process Mapping • Six and Lean Sigma • Business Process Reengineering • Benchmarking • Cost Optimization Analysis • Revenue Assurance • Controls Mapping and Deployment • Workflow • Self Service Portal • Document Management System • Access and MS Excel based tools
- 5. Advantages Partnering with Corient Fast Turnaround Time Cost Reduction Focus on Core Business Year End Accounts are completed within 3 Weeks. In some instances we strive to complete the accounts within one week We help you reduce more than 50% of your direct costs while identify cost savings initiatives on a regular basis We help you to focus on Your Core Business while we manage the back end work Improved Stakeholder Satisfaction Quicker and More Accurate Responses to Stake Holder Requests Accurate and Compliant Processing, Decision Making and Decision Support Analytics Management Reporting on a Periodical Basis- Daily, Weekly, Monthly
- 6. Corient Differentiators No Monthly Commitment from you. We are Software Agnostic- SAGE, IRIS, Quickbooks, Xero, etc We do not have any Accountancy Practice in UK- We focus on Outsourced Solutions Flexible Contract- 25% charge of your revenue or £7.00 per hour Experienced Team- Reviews and work done by Chartered Accountants Scanning Partner with National Presence
- 7. 7 Finance and Accounting Services Book Keeping and Accounts preparation VAT Personal Tax Management Accounts • Transaction entries in SAGE, Quick Books and IRIS • Preparation of Sales and Purchase Registers • Reconciliation with VAT Returns • Preparation of Trial Balance, Profit and Loss Account and Balance Sheet • Analytical Review- Comparison with previous years • Matters for Attention of Partner • Online Accounting • Preparation of Sales and Purchase Registers • VAT Analysis • Preparation of Returns • Document Management System • Enter information in relevant section of personal tax return • Calculation of tax • To check and advice if the tax can be saved • Generation of SA return • Review • Business Plan Preparation • Cash Flow and Fund Flow Statement • Working Capital Optimization • Profitability Statement- By Segment, Customer • Cost Optimization Analysis Payroll • Calculation of SSP, SAP, SPP and SMP • Calculation and tracking of attachment orders to earnings • Online annual return filing and generation of P14 and P35 • Calculation and filing of P11D benefits • Issuing of Form P60 and P11 • Generation of forms P30 and P32 • Payment of monthly liabilities
- 8. Payroll Services Landscape Reports and Returns Filing Master Set Up Payroll Processing Payments Employee Help Desk • Joiner Set Up • Leaver Updates • Employee Pay Rate Update • Any other Master Updates • Receipt & entry of build-up to Gross • P45 Entry • RTI Filing- Master Set Up- Employer Alignment Submission • Verification of NI Numbers (NVR) • Time Sheet Processing • Work Hours Update • Gross to Net Pay Computations • Pay Period- Summary and Report • Net Payment Listing • Analysis by Department and Client • Journal Vouchers- By Department. By Client • P45 at the time of leaving • RTI Filing- Full Payment Submission (FPS) • Employer Payment Summary (EPS) • Payslips by Emails • Employee Bank Set Up • Direct Payment to Employees • Cheque Payment to Employees • Payment of NI and Others • Employee Queries by Emails
- 9. 9 Data and Information Security Data User Physical Network • Data resides in UK on secured servers which are compliant with SSAE 16, ISO 27001 and PCI • No local storage of data • Personal background checks • Limitation of email distribution • Paperless office • Restricted access to office • Paperless office • Limited access rights
- 10. Outsourcing Road Map 10 • Undertake a Pilot Project on Payroll Process • Review and Provide Feedback Version 1.0 0-1 Months • Outsource entire Payroll Process • Undertake Pilot Project for Accounts Preparation • Review and Provide Feedback Version 2.0 2-3 Months • Outsource overflow of Accounts Preparation • Identify Opportunities for Book Keeping, Tax, Etc Version 3.0 4-6 Months • Provide Access to IRIS, and other software's • Undertake Pilot Project for Audit, etc • Review and Provide Feedback Version 4.0 7-12 Months
- 11. Thank You Lets Grow the Business Together