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Legal And Accounting Outsourcing

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A summary of the report on Legal and Accounting to India from www.india-reports.com. Rationale for Outsourcing to India, Functions that are outsourced and Issues faced. Download the entire PPT here http://www.india-reports.com/summary/Legal-Accounting.aspx

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Legal And Accounting Outsourcing

  1. 1. Legal and Accounting Outsourcing to India From the report on Legal and Accounting Outsourcing to India from www.india-reports.com
  2. 2. <ul><li>Significant cost savings due to lower salary levels </li></ul><ul><li>Highly educated, skilled, English speaking workforce </li></ul><ul><li>Indian companies have technology to provide outsourcing services </li></ul><ul><li>India has established judicial and legal systems </li></ul><ul><li>24 x 7 operations </li></ul>India well placed for BPO Services
  3. 3. Global Market for Financial Outsourcing <ul><li>Global Market for Financial Outsourcing to grow at 9.6%... </li></ul><ul><li>… and exceed $47.5 billion </li></ul>
  4. 4. Outsourcing the Legal Function <ul><li>Legal and compliance functions are the backbone of an organization </li></ul><ul><li>But recruiting and retaining in-house lawyers is very expensive </li></ul><ul><li>Thus the ideal option is to outsource this function </li></ul>
  5. 5. Typical Financial Functions that are outsourced <ul><li>Internal Audits </li></ul><ul><li>Preparation of Financial Statements </li></ul><ul><li>Financial Projections </li></ul><ul><li>General Ledger Maintenance </li></ul><ul><li>Payroll & Sales Tax Preparation </li></ul><ul><li>Accounting Staff Training… </li></ul>
  6. 6. Typical Legal Functions that are outsourced <ul><li>Drafting compliance and supervisory procedures </li></ul><ul><li>Due diligence </li></ul><ul><li>Drafting of patents </li></ul><ul><li>Paralegal services </li></ul>
  7. 7. Issues with Legal and Accounting Outsourcing <ul><li>Security & confidentiality of information </li></ul><ul><li>Quality of work </li></ul><ul><li>Control over employees </li></ul><ul><li>Flexibility issues </li></ul><ul><li>Contractual agreements with India </li></ul><ul><li>But most of these issues can be addressed by drawing up good outsourcing contracts that protect both the outsourcer and the outsourcing services provider. </li></ul>
  8. 8. Contents of the Legal and Accounting Outsourcing Report <ul><li>Rationale for Legal and Accounting BPOs </li></ul><ul><li>Finance/Accounting/Legal: Areas typically outsourced </li></ul><ul><li>Process of delivery by BPOs </li></ul><ul><li>Issues with Accounting and Legal Outsourcing </li></ul><ul><li>Offshore Outsourcing Contracts </li></ul><ul><li>Online resources for Accounting and Legal Outsourcing </li></ul><ul><li>Outsourcing Financial Services: Cost comparison </li></ul>
  9. 9. To read more… <ul><li>Visit us at www.india-reports.com or go to the report directly by clicking </li></ul><ul><li>http://www.india-reports.com/summary/Legal-Accounting.aspx </li></ul>

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