Back Office Management

Any company on the face of the earth depends on its front and back-office staff significantly. Thus, both ends of operations must understand and compliments each other’s purpose and work. Back Office Services are essential, and company owners who have been able to understand this have achieved great success.

Back Office Management

Organizations must acknowledge that the hard work required at the Backend to produce amazing results in the frontend. The visible success is because the work done at the back end. Every successful organization has an efficient and effective backend operations which support the Frontend to succeed.

This kind of staffs does not interact with the client but act as the backbone of your company, offering support in different sections of your business. Some examples of back-office departments are Financial Operations, Human Resource operations and Receivables & Payables Management.

What Do We Offer?

With our back office services, we act as your professional consultants and provide professional backend support. Our experts help you boost your company’s productivity at a significantly lower cost and ensure your data is secure and safe.

By employing proper back-office strategies in your company, we also analyse your business’s loose ends and where improvement it requires. The workforce makes it simpler to act on changes and bring about considerable change in a short span of time.

We offer back-office support regarding business performance analysis, payroll, business sales analysis, financial analysis, inventory management, accounting and accounts receivables and payables relationship management. Though these are the sections we offer assistance on, we are not limited to this. We can offer almost every type of support, ensuring optimal workload management.

1. Payroll Management:

Payroll Management is an important repetitive task for every organization. IamyourCFO is an expert in Payroll Management.

  • Pay Process
  • Employee Onboarding
  • Pay Structure Standardization
  • Full & Final Settlement of Exit Employees
  • Gratuity Computation
  • PF Compliance
  • Income Tax Computation
  • Form- 16 Generation
  • Partnering Annual Reward Computation

2. Accounts Receivable and Payable Management:

Multi-Channel Sales and Distribution model is present in almost every business environment including SME organizations. Organizations are selling their products through Traditional distribution model, Modern Trade Retails, E-Commerce and through their Web portal. The sales function has become complex due to different platforms, multi-channel, multiple payment terms and multiple off-invoice (schemes) periodical settlements. The same complexity is involved in Accounts Payable Management.

Issues and impact of in-house management of Accounts Receivable and Payable Management:

  • Uncertainty of Collections and Payments
  • Additional Deployment of work force: additional costs
  • Loss of Sales due to Payment issues
  • Additional workload on sales team to coordinate with internal accounts team and customers to resolve reconciliation issues.
  • Long pending unresolved issues
  • Absence of structured periodical accounts reconciliation and signoffs
  • Pending accounting of claims
  • Negative impact on performance and Order Fill Rate (OFR)

Advantages of IamyourCFO managing Accounts Receivable and Payable Management:

  • Service desk of IamyourCFO to manage Inventory to Cash (I2C) and Procure to Pay (P2P) processes.
  • Regular intimation of Accounts Receivable and Payable status with Customers and vendors respectively
  • Tracking of every invoice and manage Invoice Life Cycle
  • Periodical Reconciliation of accounts and Sign off with Customers and Vendors
  • Intimate customers pendency of dues before due date and follow up with them
  • Partnering with accounts department for on time processing of claims
  • Weekly projection of collections and trade payments

3. Physical Verification of Inventory and Assets at Stockholding Points:

Every business organization needs to perform physical verification of inventories periodically at the stockholding locations. IamyourCFO is an expert in various types of inventory verification.

  • Inventory Verification at Factory and Warehouse locations
  • Identification and verification of Scrap and Stale products at the Distributor/Stockist/Retailer locations
  • Inventory and Assets Verification at Retail Outlets
  • Inventory verification of Marketing assets at Retail Locations
  • Scheme verification of the Competition Products at the Retail Locations

What Advantages Do You Get?

With our Back-office management services, we help you manage almost everything aspect of the backend of your company. Our service offer you benefits like:

  • Employee Empowerment And Engagement Strategies

Experts at IamyourCFO have years of experience dealing with employees and encouraging them for better productivity. By optimising the engagement between different departments, we reduce the risk of miscommunications and corporate errors.

  • Efficient Workforce Through Skill-Based Routing

Our back office outsourcing services help you allocate assignments to employees who are most suitable for it. With detailed records of your employees’ expertise and skills, it becomes a streamlined process of routing that ensures the generation of both quality and quantity.

  • Lets You Focus On Core Business

As an institution that has just begun its business career, it can become challenging for your company to balance the ancillary activities and the main business. We efficiently outsource your non-core processes, providing you more time to concentrate on the central business.

  • Optimised Expenses And Productivity

Our experts manage your company’s back office activities through a controlled system and balance the workload among your employees, ensuring an optimised production. This also helps you to manage the operational costs and betters your business performance.

The owner of a company is supposed to manage its core business and not worry about the sub-divisions. For this, you have our Back office management services which will take the burden off of your shoulder and significantly increase your company’s productivity.

Why Me?

In today’s market, experience is the key to success, and that is precisely where entrepreneurs and small start-ups fall short. IamyourCFO fills that void with our board of industry experts who have been in the market for years.

They have extensive knowledge of how to drive the workforce towards maximum productivity to help you reach your goals, be it long or short. We conduct extensive data collection and analysis to provide the most effective back office management.

However, we offer all our services and advisory as suggestions and consider your words the final deciding factor. Our services are extremely personalised to suit your business ideally and provide your desired outcome.

We act as mere consultants who happen to have immense knowledge about Back office management services, but it is you who knows your future goals the best. Thus, we suggest you contact our professionals directly to have a better understanding of our work process.

Our More Services

IamyourCFO is a team of industry experts who act as a financial consultant and partner in overall growth of the organization. The main aim of the company is to become the Partner in Growth, which is why the services are designed to cater from the very establishment of a company.

© 2021-2024 All rights reserved. IAMYOURCFO.IN

Scroll to top