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Case Study- VEGA Partners AS
Vega Partners AS
Founded in 1999 VEGA Partners AS provides services Accounting, Finance and Administration services in Norway. VEGA
is a member of the Norges Autoriserte Regnskapsføreres Forening (N.A.R.F), i.e. the Norwegian Association of
Authorized Accountants. VEGA has four branches at Helsfyr in Oslo (Headquarters), Skjåk, Jessheim, and in Strømmen.
VEGA is owned by three shareholders and all are employees of the VEGA Partners AS. With 34 employees, including 14
chartered accountants (41%) of which 3 auditors VEGA caters to 450 customers with a turnover of NOK 28.5 million in
2011.
Efficiency, and Cost Effectiveness with Rapid Growth
VEGA partners has an incremental growth since of the recent past and encountered several issues on Efficiency and
incremental costs
Solution
The solution for these issues came through the concept of Outsourcing the back office accounting work to Sri Lanka. Sri
Lanka was chosen due to its emergence as a unique hub for Financial Services with its extensive and rapidly growing
resource pool of accounting professionals.
After extensive rounds of evaluation, VEGA partners decided on selecting InfoMate for the following reasons
₪ Synergistic strategies and Business approach by both parties
₪ Stability of InfoMate’s mother company, the John Keells Group
₪ Technical and process expertise of InfoMate
₪ Sense of teamwork and chemistry portrayed within the organizational culture
₪ The empowerment that was seen within the employees of InfoMate
₪ Secure connectivity of the premises also influenced the selection of InfoMate as the solutions provider to
VEGA Partners
Increased workload for staff hence increased pressure, taking them out of strategic functions and into more operational ones.
More the work, more negative effect on the Stability, Quality and capacity of work conducted with increased difficulty to meet
deadlines.
With growth, more resources were needed. The resources were to be sourced in a cost effective manner, which was becoming
an increasingly challenging task
Though VEGA works on multiple systems which are recognized in Norway, with the incremental growth, the need for
Improved IT systems to suit growth was felt, but this endeavour would be expensive and time consuming – To procure the
systems, implement, train staff and to maintain.
Quality Assurance and control were two other key factors which would be affected with the increased number of client
operations and growth. The need for proper Quality assurance and control, under international standards was felt.
Client Vega Partners AS
Industry Financial and Accounting Services
InfoMate’s Solution Back end processing of Accounts
(c) All rights reserved InfoMate (Private) Limited 2012. Unauthorized commercial publication or exploitation of content is strictly prohibited
InfoMate provided with managed service outsourcing model where all data and invoices were scanned and uploaded to
BPOMate: InfoMate’s proprietary Document Management System where the processing is executed.
Key Barriers for InfoMate
Norwegian Language Barrier
The Nordic Language was the main barrier for InfoMate since most
invoices and documents were in the native language. InfoMate mitigated
this issue through training its team on Norwegian Language and the
maintenance of a glossary with the key words.
Systems Migration and Training
VISMA is the most commonly used platform in Norway. InfoMate needed
to train its team on the methods of processing via the ERP.
Time Difference
Though the time difference was an added advantage for the processing,
there were issues in terms of urgent clarifications for invoice processing
that affected the TAT
Cultural Barriers
Cultural gaps between Sri Lanka and Norway were identified, which were
barriers in the initial stages. The barriers were overcome through regular
interactions of the Nordic and Sri Lankan teams, relationship building and
cultural understanding between both parties.
Benefits and Enhancements for VEGA Partners AS
₪ Capacity: Through the VEGA Partners team in Sri Lanka, capacity constraints were reduced
₪ Stability: With the utilization of highly skilled staff and a unique smooth stability and predictability of
InfoMate Ltd. The stability and continuity of processes was assured
₪ Deadlines: The time difference between Norway and Sri Lanka allow an approximate doubling of hours
worked each day that VEGA can put the resources in both countries. This gives a great advantage when there
is congestion or at peak production.
₪ Control and Quality Assurance: With the ISO 27001 certification, and other international standards in its
processes and information security, the partnership has become a stable, reliable and cost-effective solution
that is already being employed by over 50 Norwegian companies.
Client Comments
“InfoMate was selected after a very extensive selection process where we evaluated 20 potential BPO collaboration
partners in Sri Lanka. Our partnership with InfoMate is of vital strategic importance to VEGA Partners with access to
highly qualified resources and the ability to scale up on demand.
The progress has so far gone faster than we originally expected, and we are now planning to ask InfoMate for more
help. The results so far have given us more confidence to expand our relationship and work for further growth.”

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Case Study - VEGA Partners AS Outsources Back Office Accounting to InfoMate

  • 1. Case Study- VEGA Partners AS Vega Partners AS Founded in 1999 VEGA Partners AS provides services Accounting, Finance and Administration services in Norway. VEGA is a member of the Norges Autoriserte Regnskapsføreres Forening (N.A.R.F), i.e. the Norwegian Association of Authorized Accountants. VEGA has four branches at Helsfyr in Oslo (Headquarters), Skjåk, Jessheim, and in Strømmen. VEGA is owned by three shareholders and all are employees of the VEGA Partners AS. With 34 employees, including 14 chartered accountants (41%) of which 3 auditors VEGA caters to 450 customers with a turnover of NOK 28.5 million in 2011. Efficiency, and Cost Effectiveness with Rapid Growth VEGA partners has an incremental growth since of the recent past and encountered several issues on Efficiency and incremental costs Solution The solution for these issues came through the concept of Outsourcing the back office accounting work to Sri Lanka. Sri Lanka was chosen due to its emergence as a unique hub for Financial Services with its extensive and rapidly growing resource pool of accounting professionals. After extensive rounds of evaluation, VEGA partners decided on selecting InfoMate for the following reasons ₪ Synergistic strategies and Business approach by both parties ₪ Stability of InfoMate’s mother company, the John Keells Group ₪ Technical and process expertise of InfoMate ₪ Sense of teamwork and chemistry portrayed within the organizational culture ₪ The empowerment that was seen within the employees of InfoMate ₪ Secure connectivity of the premises also influenced the selection of InfoMate as the solutions provider to VEGA Partners Increased workload for staff hence increased pressure, taking them out of strategic functions and into more operational ones. More the work, more negative effect on the Stability, Quality and capacity of work conducted with increased difficulty to meet deadlines. With growth, more resources were needed. The resources were to be sourced in a cost effective manner, which was becoming an increasingly challenging task Though VEGA works on multiple systems which are recognized in Norway, with the incremental growth, the need for Improved IT systems to suit growth was felt, but this endeavour would be expensive and time consuming – To procure the systems, implement, train staff and to maintain. Quality Assurance and control were two other key factors which would be affected with the increased number of client operations and growth. The need for proper Quality assurance and control, under international standards was felt. Client Vega Partners AS Industry Financial and Accounting Services InfoMate’s Solution Back end processing of Accounts
  • 2. (c) All rights reserved InfoMate (Private) Limited 2012. Unauthorized commercial publication or exploitation of content is strictly prohibited InfoMate provided with managed service outsourcing model where all data and invoices were scanned and uploaded to BPOMate: InfoMate’s proprietary Document Management System where the processing is executed. Key Barriers for InfoMate Norwegian Language Barrier The Nordic Language was the main barrier for InfoMate since most invoices and documents were in the native language. InfoMate mitigated this issue through training its team on Norwegian Language and the maintenance of a glossary with the key words. Systems Migration and Training VISMA is the most commonly used platform in Norway. InfoMate needed to train its team on the methods of processing via the ERP. Time Difference Though the time difference was an added advantage for the processing, there were issues in terms of urgent clarifications for invoice processing that affected the TAT Cultural Barriers Cultural gaps between Sri Lanka and Norway were identified, which were barriers in the initial stages. The barriers were overcome through regular interactions of the Nordic and Sri Lankan teams, relationship building and cultural understanding between both parties. Benefits and Enhancements for VEGA Partners AS ₪ Capacity: Through the VEGA Partners team in Sri Lanka, capacity constraints were reduced ₪ Stability: With the utilization of highly skilled staff and a unique smooth stability and predictability of InfoMate Ltd. The stability and continuity of processes was assured ₪ Deadlines: The time difference between Norway and Sri Lanka allow an approximate doubling of hours worked each day that VEGA can put the resources in both countries. This gives a great advantage when there is congestion or at peak production. ₪ Control and Quality Assurance: With the ISO 27001 certification, and other international standards in its processes and information security, the partnership has become a stable, reliable and cost-effective solution that is already being employed by over 50 Norwegian companies. Client Comments “InfoMate was selected after a very extensive selection process where we evaluated 20 potential BPO collaboration partners in Sri Lanka. Our partnership with InfoMate is of vital strategic importance to VEGA Partners with access to highly qualified resources and the ability to scale up on demand. The progress has so far gone faster than we originally expected, and we are now planning to ask InfoMate for more help. The results so far have given us more confidence to expand our relationship and work for further growth.”