Finance and Accounting

"Finance is one of the most important management functions. Without a good understanding of the sources of revenue, costs and financing requirements, it is not unusual for organizations to find themselves in difficulties which could have been easily addressed and used to their advantage.

Typically financial accounting and reporting within small to medium sized companies has not been at the top of its management’s agenda."

In most organizations transaction processing takes a back seat and suffer problems due :

Lack of suitably qualified staff.
Absence of an accounting system or presence of a system that does not meet all business requirements.
Lack of coordination between finance and other departments.
Absence of qualified staff to analyze and report on financial figures generated.

Following are some of the benefits, you should consider when ‘Outsourcing’ your finance and accounting function:

REASON #1: AFFORDABLE

Outsourced accounting services should be more affordable than hiring someone in-house. As a rule of thumb, you should be around 40-60% of the cost of in-house employees, assuming you get a good company on your side.

REASON #2: ROBUST

One of the main reasons for hiring a firm should be the systems that they have built. This means that you can avoid the headache of recreating the wheel here.

REASON #3: TRAINED

When you turn to an accounting company, their staff should be trained, certified and knowledgeable. This is what they do all day long so they’re going to be great at it. This also means that you’ll be able to get an expert at a great price versus an in-house employee with little to no experience.

REASON #4: ORGANISED

A full outsourced accounting services package should make it possible for you to relax at the end of the year. If they’ve been doing their job, there’s very little if anything that you’ll need to do to get ready for Audit/taxes etc.

Services

Broadpeak offers

Broadpeak offers services and corresponding technology to enable organisations to effectively record and report financial information.

Transaction processing

We help our clients simplify their back-office operations in the areas of purchases, sales and employee expense reports – i.e. procure to pay and order to cash

Technology-enabled processes that simplify your back-office operations, including:

Purchasing

We process, approve and pay vendor bills using the ERP that you are using.

Sales

Bill your clients for services and receive payments quickly and in case of integrated POS systems we ensure that transactions are automatically posted every day.

Employee expense reports

Digitally capture business-related expenses, submit expense reports electronically and eliminate redundant data entry.

Currently most of our clients are using Odoo for processing their transactions. However, the team has the capability to handle other ERPs as well.

Month-end close

We close your organization’s financial periods on a timely basis using a process that ensures balance sheet accounts are reconciled, required month-end entries are posted and all other back-office tasks are completed accurately. This ensures that the management have a full view of the financials just after the month end and you can plan your activities for the next month accordingly.

Financial Reporting

We prepare monthly, quarterly and yearly management reporting pack that refelects the financial performance of your organisation and provide an outlook of future.

We can also help you define and track KPI information through custom dashboards that paint a clear picture of your operations. Flexible financial and operational reporting allows you to quickly understand what’s happening within your business.

Financial planning and analysis

We can assist you in financial and business planning and budgeting activities of your business. This will enable you to track how your business performance compares to the yearly budget and longer term business plan of the organisation.

Need more details? Contact us

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