Optimizing Accounts Receivable in Indian Subsidiaries
As a Global VP of Finance managing an MNC with an Indian subsidiary, ensuring optimal accounts receivable (AR) processes is critical for maintaining healthy cash flow, minimizing risks, and achieving sustainable business growth. The complexity of India’s financial landscape can pose unique challenges to AR management. However, with the right strategies and resources, including potential […]
Beat Accounts Receivable Challenges Through Outsourcing for MNCs
Accounts receivable (AR) management is a critical function for any business, but it poses unique challenges for multinational corporations (MNCs) operating in India. According to a report by Atradius, nearly 45% of B2B invoices in India remain unpaid past the due date, with an average delay of 23 days. For MNCs, these delays can disrupt […]
From Burden to Benefit: Why Accounts Payable Outsourcing is Essential for MNCs
Managing accounts payable (AP) can be a significant burden for multinational corporations (MNCs), particularly in a complex and diverse market like India. The challenges of maintaining accuracy, ensuring compliance, and managing cash flow across multiple jurisdictions can quickly become overwhelming. Transitioning from traditional practices to modern, technology-driven solutions can turn this burden into a benefit. […]
A Comprehensive Checklist for Effective Accounts Receivable
A report says that about 4,00,000 businesses open each year, but shut down within 5 years. 82% of businesses claim cash flow as the top issue for their failure. For accounting firms, especially the small ones, the balancing act of keeping track of the cash flow, streamlining, and ensuring that it is all happening on […]
Efficient AR Reporting With Outsourcing
For any accounting firm, accounts receivable is one of the biggest assets on the balance sheet. Think about it for a moment. Whether you are a small, medium, or large firm, a steady cash flow is a need everywhere. For most businesses, they do not have a streamlined process to collect the credit when due. […]
How To Take The Stress Away For Late Payments In Accounts Receivable With Outsourcing?
Accounts Receivable is not only a business process, it is a way of ensuring steady cash flow within a business. Across all industries, the need to ensure that you keep track of the money you are about to receive and receive in due time is key to the success of the business. So what is […]
Top Accounts Payable Trends for 2024 and Beyond
In today’s fast-paced business environment, traditional accounts payable processes pose significant challenges. Manual systems are often inefficient, leading to errors, delays, and increased operational costs. As the 2023 recession loomed, businesses turned to new technologies to redefine their workflows. Automation, artificial intelligence (AI), and blockchain are transforming how businesses manage their payables. These innovations streamline […]
7 Common Accounts Payable Challenges + Solutions from Finsmart
The Accounts Payable (AP) department serves as the financial backbone of an organization, managing the crucial tasks of processing payments, maintaining vendor relationships, and ensuring financial accuracy. However, this integral function is not without its share of challenges. In this blog, Finsmart Accounting – an accounts outsourcing company – will delve into the intricacies of […]
Payroll Data Security: 10 Must-Haves From Top Accounting Firms
Do you know the average cost of a data breach was $4.45 million in 2023? Everyday use of software, smart devices, and work technologies during business operations acts as a gateway for cyber attackers and increases the risk of data breaches. With the increasing number of data breaches and cyberattacks, securing payroll data has become […]
8 Tips to Choose Bookkeeping & Accounting Services for Small Businesses
For small businesses in India, every decision carries significant weight. Effective bookkeeping and accounting services form the bedrock upon which small businesses can build their financial stability, ensure compliance, and gain insights vital for growth. However, for many small business owners, navigating the space of financial management can be a daunting task. That’s why Finsmart […]