Finance & Accounting BPO Services
Are you finding it difficult to build or maintain the finance team your Australian business needs? Cost pressures, local talent shortages, and the time spent on routine administration can impact growth and strategic focus. At S&B Private, we offer Finance & Accounting Business Process Outsourcing (BPO) services which provide practical and structured solutions to these problems. We provide access to trained offshore finance professionals who are recruited and trained by Australian accounting practice owners to fill vital resourcing gaps in your finance team.
Understanding Finance & Accounting BPO
So, what exactly is an accounting & finance BPO? In simple terms, BPO involves engaging a specialist partner, like S&B Private, to deploy dedicated and trained accounting professionals directly into your finance team.
Offshore finance solutions have developed far beyond low-level administrative support; they’re a strategic approach to outsourcing finance positions offshore.
It differs significantly from engaging an individual contractor to handle arbitrary finance tasks. With S&B Private’s finance BPO process, you gain access to a managed solution. We recruit the right professionals for your business, provide ongoing rigorous training focused on Australian taxslation, manage ongoing administration and compliance (including HR and payroll) for your offshore team, and supply the necessary IT infrastructure for them to connect to your IT environment. This allows Australian businesses, like yours, to build finance capacity efficiently and confidently.
How Our Finance BPO Process Works
S&B Privates finance and accounting BPO was founded by Australian accounting practice owners who understand these challenges firsthand. We’ve built our BPO service based on our own experiences:
Australian Foundation
Our deep understanding of Australian tax, superannuation, payroll, and compliance is core to what we do.
Proven Methodologies
We utilise robust, tested processes for recruiting, onboarding, training, and continuous professional development which have been developed years and the same systems we use for ourselves.
Your Systems, Your Control
Our professionals work directly within your preferred accounting and industry-specific software (Xero, MYOB, QuickBooks, NetSuite, etc.), allowing for seamless integration, ensuring you maintain control over your data and applications.
Tailored Engagement
We take the time to understand your business and tailor a solution to your specific requirements. This allows us to deploy the right professionals into your team from both a technical and cultural perspective.
Our Outsourced Finance Business Process
We’ve refined our process to ensure clarity and support from day one:
1. Discovery & Scoping
We work with you to understand your specific business finance challenges and the precise scope of support that you require.
2. Team Design
Based on your specific requirements, we determine the ideal skill set and structure for your dedicated offshore BPO team members.
3. Recruitment & Training
Our team manages the recruitment process and delivers ongoing targeted training focused on Australian Tax & Accounting Standards.
4. System Integration
We ensure your offshore professionals are set up within your system and integrated into your business seamlessly.
5. Ongoing Partnership
S&B Private provides continuous support, managing administration, performance, and infrastructure, regular temperature checks to ensure you are receiving ongoing value from our service.
Key Benefits of Using a Finance BPO
Engaging S&B Private for finance BPO offers tangible advantages for your business:
Improve Finance Cost Efficiency
Access to skilled professionals through a model which is significantly more cost-effective than local recruitment, without compromising on quality.
Minimise HR
We manage the recruitment, onboarding, and ongoing administrative tasks associated with the offshore team members.
Build Finance Team Capacity
Address talent shortages and support your existing team without the impact of local hiring constraints.
Access Specialised Skills
Tap into a pool of trained finance professionals with diverse accounting capabilities.
Focus on Core Business
Free up your local team to concentrate on strategic initiatives and high value tasks rather than being consumed with routine accounting processes.
Benefit from Trained Professionals
Gain support from individuals trained specifically in relevant Australian Accounting standards and Tax Legislation.
What Our Finance BPO Covers
Our comprehensive BPO service is designed to provide robust support. While you direct the daily tasks and workflow, S&B Private assists by managing:
Talent Acquisition
We work with you to understand your specific business finance challenges and the precise scope of support that you require.
Verification
Thorough background and reference checks.
Onboarding
Structured integration tailored to your business.
Administration
Ongoing management of employment arrangements including contracts, entitlements, and day-to-day HR administration for your offshore team.
Compliance support
Management of payroll and tax for your offshore team.
Development
Commitment to ongoing CPD and weekly training sessions focused on Australian Tax and Legislation.
Infrastructure
Provision of secure connectivity, devices, and professional office space, all supported by a leading Melbourne-based IT service provider to ensure reliability and data security.
Specialised Roles
Sourcing professionals for specialised roles, including outsourced CFO services support.
Is Finance BPO Suitable for Your Business?
This strategic approach to building your finance team could be right for you if:
- Finance-related tasks are consuming excessive time or falling behind.
- Your senior finance leaders are occupied with tasks better suited for a dedicated support team.
- Finding or affording qualified local finance staff for certain roles is a persistent challenge.
- You require broader finance capabilities but face budget or resource constraints for building a full in-house function for every role.
- Your existing finance team needs reliable support to manage workload peaks or specific functions effectively.
- You are unable to hire trained, qualified accountants locally to join your team.
FAQs
What is the difference between finance BPO and outsourced accounting?
While related, BPO often implies a broader scope. Outsourced accounting can sometimes refer to only delegating specific tasks (like bookkeeping via outsourced bookkeeping services) to an external provider or individual, which can commonly lead to competing priorities. Finance BPO typically involves a more comprehensive partnership where we manage the recruitment, training, administration, and infrastructure to provide dedicated accountants to join your team.
Will I still control my finance operations with BPO?
Yes. S&B Private provides trained offshore finance talent and manages their employment and administration. However, you retain full control over your finance strategy, decision-making, and the day-to-day direction of tasks and workflow assigned to the team members provided.
What parts of finance can be outsourced through BPO?
A wide range of finance and accounting functions can be supported through BPO, including accounts payable/receivable, payroll processing, bank reconciliations, financial reporting preparation, management accounting tasks, compliance support, budgeting, financial modelling and more, depending on your specific needs.
Can we adjust the team size depending on business needs?
Yes, our model allows for flexibility. We work with you to structure arrangements that can be adjusted over time to align with your changing business requirements, whether you need to add capacity or modify the scope of support.
Explore a Strategic Partnership BPO for Your Finance Function
If you’re seeking a reliable, structured approach to enhance your finance capabilities using skilled offshore finance professionals trained for Australian businesses, S&B Private offers a compelling solution. We focus on finding and placing the right talent to integrate into your team, supported by our proven framework.
Contact S&B Private today to discuss how our BPO facilitation services can assist your business.
