Departmental needs
Financial and management accounting
The security, technology and experience to drive down cost and provide total visibility, whilst maintaining integrity and removing the burden of capital investment and recruiting staff.
Saving money is nothing without integrity, continuity and results
We understand that risk, failure or quality issues are not an option for CFOs and Finance Directors or those in charge of financial and management accounting. Charged with the major challenge of making sure the business has the cashflow, visibility and functionality required to avoid this, whatever the given circumstance – this is not, however, an easy task.
As a business grows, scaling up can cause many significant issues. The ability to do so may not be feasible without disruptions to operations, or without considerable capital investment. Or it simply may take too long to recruit and train staff or get the necessary expertise. Cashflow may also be restrictive if it is inaccessible in clearing or suspense accounts, or you simply don’t have sufficient real time data and visibility across your reporting to access it without risk.
Automation and digital transformation can offer many ways of saving time and reducing cost of financial and management accounting. But understanding what technologies and workflows you need now and to fulfil future business and customer needs is complex. There must also be clear evidence of ROI and time scales, although capital investment may just be unfeasible.
Security of data and compliance are also two major concerns, that cannot be compromised. The integrity of any new processes, or integration of technology must be tried, tested and absolute. Business continuity must be guaranteed, especially at peak times or as the business grows.
We understand the pressure you face and the complexities you must overcome to run finance and management accounting and have the solutions and protocols to help you do so.
Key challenges of business process efficiency for CFOs and financial and management accounting
Risk
Security, compliance and continuity must be maintained at all times. Integrity and easy integration is vital.
Visibility
Need for timely data to view risk and maximise opportunity.
Captial
Significant investment required for necessary technology.
Scaling up
Time, resource and staffing may restrict ability to scale up.
Cashflow
Inefficient cashflow may affect operational functionality and growth.
ROI
Demonstrate tangible results as soon as possible.
Our capabilities
Secure, quickly deployed financial and management accounting solutions, for better insight and efficiency
The security, technology and experience to drive down cost and provide total visibility more quickly.
Outsourcing some of your business processes to us can help your financial and management accounting department benefit in many ways. We can not only save time and money, but also improve cashflow and operational health, and provide far greater consistency.
We apply highly automated technology to shoulder time intensive, repetitive, tasks. This can manage high volumes of work and reduce cost-per-process (typically 20% cost savings compared to in-house processes). For instance our accurate automated Cash Allocation solution allocates over 95% of payments on day 1. It not only saves time and associated resource, but potentially could reduce your suspense or clearing account by up to 50% in 6 months to free up cashflow.
We can also help financial and management accounting teams gain significant visibility over their operational and financial reporting. Many of our solutions offer real time data accessed through an online portal for immediate and greater insight to help minimise risk and to make better use of cashflow.
Our Management Accounts solution and related services such as Credit Management, allows you to outsource some or all of the functionality of your financial and management accounting team. Not only could this typically save you substantial running costs, but also reduce the burden of recruiting and training your finance and accounting team, especially over peak periods or as you expand operations.
It also offers an extraordinary level of insight into your performance reporting, with customisable KPIs, budgeting and forecasting and many other elements of insight you may not have had before. However, you remain fully in control and of course everything is secure.
We do work for many large financial organisations, who demand absolute integrity, security and compliance in our processes, protocols and SLAs, so our credentials are impeccable in that area, whatever your requirement.
We ensure easy system integration for business continuity. We also offer nearshore and offshore capabilities for additional continuity benefits, cost saving and load bearing. Our technology and systems are tried and tested. As we invest in the technology and maintenance and ensure it is futureproof, you don’t need to worry about capital investment.
Our clients tend to stay with us long term because we work collaboratively. We continually provide tangible value that they can measure and we help support them as they grow or expand their operations. Whatever your financial and management accounting needs, we can help you get results more quickly, ensuring absolute integrity and minimising any risk.
Technology
Access to multiple tried and tested software and platforms, including digital and non-digital.
Automation
Highly automated intelligent systems for speed and accuracy and in-built learning.
Easy integration
Solutions that can be plugged into existing systems or workflows.
Economies of scale
Shared service centres and access to experts.
Scale and flexibiltiy
Ability to handle flexible volumes, load bearing, nearshore and offshore capability.
Security
Our systems, protocols and strict SLAs assure strict levels of compliance. View our certifications here.
The benefits
Results
Focused
Significant efficiencies and increases to output and value, whilst always maintaining integrity and compliance.
99.9% accuracy
Right first time
Less mistakes and exceptions and in-built ‘learning’ for continual improvement.
Cost saving
Typically 20%
Significant cost saving versus your current in-house processing costs.
Easy
Remove burden
Our expertise, technology and flexible approach help us to remove barriers and make it easier for you.
Speed
Agility
We more adeptly devise solutions to get quicker results and keep in line with needs as you grow.
Partner
Long term value
Our people and clients stay with us for a long time. We are with you for the journey.
Services you may be interested in
Management Accounts
A fully managed management accounts service with rapid insight and cost saving across multiple accounts from month 1.
Credit Management
Full credit management services including invoice production, voice contact, query investigation and resolution to industry leading KPIs.
Cash Allocation
Multiple payment channels allocated to appropriate customer accounts through automated or manual activities.
Talk to us about your finance and accounting needs today
Want to find out more? We would be happy to discuss your organisation’s challenges and how Parseq’s solutions could quickly provide you with real value.
