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. […]
Poor Bookkeeping Impacts Your Business- Know How to Improve
Bookkeeping is one of the most fundamental aspects of any business’s financial side. It provides information on areas that generate great profits and those that cause losses. Efficient bookkeeping helps your business: Improve cash flow Generate accurate financial reports Ensure statutory compliance Enhance financial forecasting You need to know the direction your firm is heading […]
Exploring AI and automation in taxation
“The role of AI and ML is not to replace the profession, but to transform their work” – Zac Meyer, Vice President – US Tax, Accounting and Advisory, Thomson Reuters. The number of individuals and businesses seeking help from accounting firms for accounting and tax-related work is huge. However, this boom has also increased the […]
Top 5 Financial Consolidation Software in India
Financial consolidation software has become indispensable for businesses aiming to streamline their operations, enhance accuracy, and ensure compliance with regulations. As companies expand, the complexity of managing financial data across multiple entities grows, making manual consolidation impractical and error-prone. In India, the demand for robust financial consolidation software is rising as businesses recognize the need […]
Filing of Income Tax Return for F Y 2023-24
Every Individual / HUF/ AOP/ BOI (whose books of accounts not required to be audited) need to file Income Tax Return (ITR) every year before 31st July. Hence due date for filing ITR for F Y 2023-24 is 31st July 2024. In case taxpayer could not file the return before 31st July, he/she can still […]
How can CFOs prepare for resilience and agility in the uncertain times
We live in uncertain times. There is inflation, an economic crisis, a lack of jobs as well a lack of talent. CFOs shoulder the responsibility of keeping the financial situations stable for their organizations. These uncertain times can put their ability to drive and manage growth to test. Most firms are struggling. During these critical […]
Comprehensive Accounting Clean-Up: A Guide for Accountants and Accounting Leaders
The process of organizing and correcting financial records and transactions is referred to as the clean-up process. This is a key function in keeping books accurate and consistent. It also involves reviewing and reconciling accounts, identifying and resolving discrepancies, and updating information to reflect the correct status of the company. Businesses should keep a constant […]
The Outsourcing Advantage – How External Auditors Add Value To The Audit Process
If this is a new service for you or if you have been trying to streamline the process, here is some food for thought. Is auditing an integral part of your business? Is your audit process absolutely transparent? Will your team of auditors tell you the hard truth during tough times? If you have an […]
AI has risks, but accounting leaders continue to integrate it to the business – Why?
Let us pause for a second. Instead of perceiving all forms of Artificial Intelligence as everything that the world needs, let us look at it as just another form of technology. And hence, like other tools, AI comes with its share of benefits and limitations. It has become an integral part of how organizations enhance […]
How Does Outsourcing Finance And Accounting Help CFO’s?
\The success of an organization’s finance department relies heavily on the Chief Financial Officer’s (CFO) ability to manage business finance operations effectively. To ensure this, the CFO must be supported by a capable and experienced team. As the leader of a growing business, the CFO faces numerous challenges, including managing the company’s financial health, overseeing […]