The document discusses the growing relevance of finance and accounts outsourcing in the post-COVID-19 world. It notes that outsourcing is expected to see increased demand as companies face challenges like staff shortages and working from home. India is highlighted as a major outsourcing destination due to its large talent pool and cost advantages. The document outlines skills needed for success in finance and accounts outsourcing like international qualifications, software and technical skills, and the ability to work remotely. It also discusses how the accounting industry can help revive economies by providing strategic support to businesses.

1. Finance & Accounts
Outsourcing
The Growing Relevance in Post COVID-19
World
Skills & Training required
Friday, 19th June 2020 in partnership with
www.sandmartin.com
New Delhi | Mumbai | Noida | Gurgaon

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3. HELLO!
I am Suhel Goel
FCA, CPA, B.Com (Hons.), D.I.S.A.
You can find me at :
suhel.goel@sandmartin.com
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www.sandmartin.com
New Delhi | Mumbai |Noida | Gurgaon
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4. About SandMartin
20+ Years of
Experience in
Finance &
Accounts
Outsourcing
A team of
350+ people
operating from
Service Delivery
Centers in Four
Cities in India
Serving 200+
Accounting
Firms &
Companies in
USA, UK,
Australia etc.
ACCA (UK) &
CPA Australia
Accredited
Employer
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5. Verticals & Locations
Finance, Accounts
& Taxation
Outsourcing
Audit &
Assurance
Support
Cafeteria Plan
Administration
Outsourcing
Retirement &
Pension Plan
Outsourcing
Virtual CFO
Services
New Delhi Noida Gurgaon Mumbai 5

6. Outline & Agenda
Global trends in International
Finance & Accounting |Boost for
Outsourcing post COVID-19
Why all is not Gloomy &
how to prepare yourselves?
India: A Back-Office
Powerhouse of the World |
Why Finance & Accounts
Outsourcing will always be
relevant
What are the Professional
Skills that are most critical to
develop in the Post- Covid19
World?
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7. India: A Back-Office
Powerhouse of the
World
Why Finance & Accounts Outsourcing
will always be relevant
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8. ▸ Outsourcing is a practise usually undertaken
by companies as a cost-cutting measure
and can affect a wide range of jobs, ranging
from customer support to IT to accounting
to the back office etc.
▸ There is a shortage of experienced and
skilled Accountants Internationally.
Organizations that are unable to find skilled
accountants are choosing the services of an
outsourcing provider.
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Outsourcing is a business practice of hiring a party outside a company to
perform services that traditionally were performed in-house by the
company's own staff.
Outsourcing: Process
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F&A
Outsourcing
Business
Process
Outsourcing
IT
Outsourcing
Manufacturing
Outsourcing
Outsourcing: Types
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10. Operational Benefits from
Outsourcing
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A
B
D
CDepartment Extension
Model
Extend the daily working
hours through uniquely
utilising the time zone
difference & leveraging the
skills of the offshore team.
Talent Sharing
Better utilisation of
skilled human resources
across geographies
leading to smooth
operations of the
business.
Increased Flexibility
Lesser travelling in terms
of visiting the client thus
leading to increased
flexibility.
Process Efficiencies
Process efficiencies and
increased scale of operations as
multiple processes can be
completed within a stipulated
time frame.
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Here are some key players from the Outsourcing Industry that are operating in India
Outsourcing: Service Providers
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12. The Global Power Houses,
Quick Look!
Source: ¹ https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) 12

13. Cost & Immigration Issues
▸ It's not just skilled workers that are in
short supply. The annual allotment of
65,000 H-1B visas available to foreign
workers is generally exhausted within
the first few weeks of availability each
year. After that, a business that wants
to bring in, say, a talented SAP expert
from Delhi-NCR needs to wait for the
next fiscal year to roll around.
▸ Companies are getting around this by
placing the work offshore.
▸ Most Recently due to COVID, US
Senators have urged President Donald
Trump to suspend all non-immigrant
work permits for at least a year or till
employment levels return to normal.
S. No Country
Average pay per
annum (£)
1 United States £32,508
2 United Kingdom £32,136
3 Germany £26,592
4 Austria £26,244
5 Australia £25,332
6 Italy £24,888
7 India £7,000 approx
Source: https://www.careeraddict.com/top-5-countries-with-the-highest-paid-salaries-for-accountants 13

14. How Outsourcing is more
Relevant after Covid-19 ?
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15. Business Continuity
Business continuity is at front
and centre of the enterprise,
working to survive. Globally,
Business that are looking to be
prepared for such events and to
ensure that their operations can
continue uninterrupted, will look
for partners in a geographically
different location =>
Outsourcing .
Work From Home
Challenges
Many companies are also
facing the challenges of staff
working from home.
An outsourcing provider
already has expertise in
working remotely for a team
from abroad, enabling
smooth workflow and
uninterrupted operations.
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How Outsourcing is more
Relevant after Covid-19
Global Skill Shortages
According to the research,
54 per cent of companies
reported skill shortages with
businesses in 36 out of 44
countries finding it more
difficult to attract skilled
talent than in 2019. This
problem is only going to
increase in 2020.
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16. Development of New
Business Models
There is an urgent need and
opportunity to accelerate and
shift to new operating models
like an outsourcing model,
which would enable all
Digitisation and automation of
work processes worries, talent
shortage, challenges in WFH
model.
Shrinking Revenues
Corporate profits in the
United States plunged 14.2
percent in the first quarter. It
was the sharpest decline in
corporate profits since the
last quarter of 2008, amid
the coronavirus crisis.
Undistributed profits
slumped by 52.3 percent. 16
Goodwill & Ability
Due to unprecedented
circumstances caused by the
pandemic, there is a lack of
in-house talent & right skill
set, and even when
companies find them, they
come at a premium.
Hence they look externally to
find cheaper but more skilled
talent.
How Outsourcing is more
Relevant after Covid-19
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17. Global trends in
International
Finance &Accounting
Boost for Outsourcing
by COVID-19
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Global trends in International F&A
In the current scenario,
everyone around the world
is working from Home.
Hence companies are
sending more work to India
where there is talent surplus.
Now more than ever, the skills
of an Accountant are needed
on both sides of the spectrum.
They can help clients refocus
their portfolios to develop
strategies and roadmaps to
assess risk and opportunity.
International Accountancy
Skills
In this highly competitive world,
employers are looking for
professionals with International
accountancy degrees like CPA,
ACCA etc.
Global Skill Shortages
Not just bookkeeping, it has
extend to all domains like
substantial value-addition
services, which have positive
results for businesses.
Remote Working
Value Addition
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Accounting businesses have
hugely profited from the
following areas of
technology:
Cloud Accounting, AI,
Advanced Analytics &
Automation of processes.
Due to unprecedented events
caused by the pandemic, there
is a lack of in-house talent &
right skill sets in many
developed countries and this
talent shortage can be filled by
surplus talent in many
developing countries like India.
Security Concerns
Data Security is a major concern
for accounting firms both
internally and when outsourcing.
Leading to various compliances
to be followed, such as GDPR.
Increased Talent Demand
Outsourcing, has transformed
the way organisations
operate, making them more
agile, efficient, and effective.
Venture into Technology
Innovative Outsourcing
Global trends in International F&A
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20. Outsourcing of Audit &
Assurance services at
companies like Deloitte,
SandMartin, etc. where
professionals enjoy the
opportunity of Second Staff
to their Clients worldwide.
Shared Services Centres
operated by Big4, where they
process large tax return
processing and M&A advisory/
transaction processing/
Knowledge Centres of
Goldman Sachs etc.
Shared Service Centers Audit Outsourcing
Global trends in International F&A
Secondment Staff
This is major trend prevailing in
the outsourcing Industry, when
employees got the opportunity
to exchange experiences &
skills with their Clients abroad.
AI and humans can work
together to strengthen
companies: the former to
smoothen routine processes
and provide creativity.
The Essential Human
Factor
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21. How Accounting Industry
would revive the
economy ?
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How Accounting Industry would
revive the economy
In our current liquidity-focused environment, the
accounting function needs to support the business –
monitoring & controlling cash burn, supporting critical
decisions about investments, proposals and the
profitability of activities.
The global Business Process Outsourcing (BPO) market
size was valued at USD 221.5 billion in 2019 and is
expected to witness a CAGR of 8.0% and is expected
to witnessthe highest ever growth from2020-2026.
The future looks bright for the financial sector and the
governments are bringing more laws and regulations
that will encourage growth and hiring in the accounting
sector.
Real-Time Accounting Data
Accounts Outsourcing Firms
Bright Future
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How Accounting Industry would
revive the economy
Now more than ever, the skills of an Accountant are
needed on both sides of the spectrum. They can help
clients refocus their portfolios to take advantage of
new opportunities in emerging industries.
Businesses will need their Accountants to develop
strategies and roadmaps to assess risk and
opportunity with the help of cloud accounting for their
future operations. Thus resulting in a stronger
recovery.
On the other side of the spectrum, accounting firms or
the accounts outsourcing firms would help the clients
that are struggling with mitigating cash flow risks,
quantifying the impact of losses, and applying for
credit.
Roadmap to Recover
Role in Businesses
Satisfied Clients
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What Skills are most critical
To succeed in F&A
Outsourcing?

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International Accountancy Qualifications
Apart from
professional
qualification of ICAI,
Students can also
pursue courses like
ACCA Qualifications,
CPA Canada, CPA
Australia etc.
Professionals with any
of these qualifications
are going to be the
most important people
to accounting firms
because they will be
the ones who will help
firms thrive and come
out of this crisis.
We know the skill set in
accounting is varied
and it is a trusted role.
This is the time to let
the communications
and strategy skills that
so many Accountants
possess shine.
There is opportunity to
help in the short term,
but also to prove long-
term value and help
businesses not only
cope but come out of
this more resilient and
flexible than ever.
23All the logos are property of their respective owners and should be treated as such.

26. Software Skills
▸ Xero, QBO, CCH Accounts & Audit
Automation Tools
▸ Basic exposure to ERP Packages
(SAP, Oracle, HFM etc.)
▸ Data Analytics, Business Analytics
▸ Big Data Analytics
▸ Knowledge of Global Financial
Markets
▸ Excel skills for Business
▸ Foundation of Management course
▸ Remote Working, Communication
& Presentation Tools (Zoom,
GoToMeeting, etc.)
26All the logos are property of their respective owners and should be treated as such.

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▸ Working and pursuing articleship/training with
companies that do F&A Outsourcing
▸ Pursue Online Courses available on LinkedIn
Learning & YouTube on Excel Skills (pivot
tables, Vlookup/Hlookup, etc.)
▸ Cloud Computing Tools Certification e.g. Xero
Certification
▸ Business Analytics skills
▸ Financial Modelling
▸ Chartered Financial Analytics
▸ Certified Financial Planner
Technical Skills
All the logos are property of their respective owners and should be treated as such.

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Basic skills
▸ Managing the tight rope walk : Developing Global Skills when only Local
Opportunities are available
▸ Discipline, Diligence and hard work to manage different curriculums
▸ Conceptual understanding of Difference in Global Accounting & Tax
Standards Vs. Indian Standards
▸ A keen-eye for numbers and analytical skills to adapt to International
Reporting Style
▸ Developing excellent Communication & Presentation Skills (oral and
presentational)
▸ Ability to accept failures and willingness to restart

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Knowledge of existing and
emerging digital technologies such
as Cloud Computing, Artificial
Intelligence, Blockchain, Robotics,
Process Automation, big data is
extremely essential for the new-
age accountants.
Leveraging professional
opportunities in digital era will
require more focus on visual tools,
analytical and advisory role by using
technology as a tool (MS Excel,
Power BI, Futrli, Spotlight etc.)
Digitisation in the Accounting Profession

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Digitisation in the Accounting Profession

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Digitisation in the Accounting Profession

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Digitisation in the Accounting Profession

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Company Certifications/Internships
Working with companies such as
SandMartin that provide outsourcing
certifications is a great addition to your
profile and skill set.
You get exposure of how an accounting
industry of international markets work
and operate and there’s so much to learn,
grasp knowledge and update your skills.

34. Focus on Consulting & Developing Skills
Learn from the current consulting
asks being forced upon Accounting
firms in the COVID-19 and staff are
being exposed on how to directly
consult with clients and work
remotely.
This gives firms the ability to
transform their firm into a deeper
consultative practice and move into
the advisory space from the
transactions. Leading to an
increased demand for highly skilled
employees.
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35. What other Skills Employers look at ?
• Ethics & Integrity Commitments towards
data security and compliances.
• IT Knowledge and software skillset are
must.
• Presence on LinkedIn and Analytics
• Commitment towards longevity – JOB
HOPPERS - NO
• Hard-working having pride and taking
ownership towards the work assigned.
• Immaculate in appearance so that client and
other people can take him/her seriously.
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International Opportunities:
ICAI’s Global Career E-Kits
ICAI has launched Global
Career E-Kits on many
countries where it has a
Chapter for the benefit of
membership community.
These kits provide assistance
to the ICAI members who
intend to work abroad and
they provide a panoramic
informational view of those
countries to them, which
briefly addresses their
concerns and queries
especially in a situation when
they are on a lookout for
professional opportunities
abroad, i.e. to take up an
employment or set up
professional firm/ business.

37. Why all is not Gloomy & how to
prepare yourselves?
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38. Employment Opportunities
In order to revive back from this
crisis, firms from around the globe
will work harder and hence there
would be increased requirement of
competent talent.
To take an example of outsourcing
industry, higher number of firms
outsourcing their workload to India
would generate equally higher
number of employment
opportunities for the workforce.
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39. Employment Opportunities
News Section:
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Creating a Stronger World After Covid-19
▸ Many companies are also facing the
challenges of staff working from home or
even laying off. While an outsourcing
provider has expertise in working remotely
for a team abroad. India is ranked as the
most preferred location for outsourcing.
▸ Employers in the US (69 per cent), Mexico
(52 per cent), Italy (47 per cent) and Spain
(41 per cent) reported the most acute
shortages.
▸ Hence fulfilling these shortages with most
skilful minds from India.
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41. Sanjiv Mehta, CEO of Hindustan Unilever, India’s largest consumer staples
company, is hoping that the country’s economic growth will rebound sharply as
the COVID-19 crisis abates i.e. ‘V-shaped’ recovery. 42
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FAQs on Finance & Accounts Outsourcing
▸ Why Outsourcing as an Industry is a great opportunity for upcoming
Indian CAs ?
▸ The recent trends in the Accounting Industry depict a great scope for the
Indian CAs to cover global shortages and enter into Outsourcing.
▸ What qualifications should I possess before starting any outsourcing
venture?
❑ Pursuit of International qualifications (CPA, ACA, ACCA) or short
courses by the ICAI on IFRS, Taxation etc.
❑ Technology & software skills e.g. on MS Excel and Cloud Computing
packages like QuickBooks, Xero etc.,
❑ Internship/work experience with established outsourcing firms.
▸ Where to start from - what needs to be done before starting in the F&A
outsourcing world ?
▸ Extensive Research about what trends are there, what skills are required,
Basic roadmap of what is to be done and knowledge of evolving global trends
like AI, IOT and Robotic Automation.

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FAQs on Finance & Accounts Outsourcing
▸ How to approach prospective clients/ network building?
▸ First you need set a target geography, where you find it is most
appropriate for you to enter through after understanding the demand as
well as the market. Then you can search for prospective clients in that
particular region and approach them through digital means or personal
references.
▸ What basic requirement does an Outsourcing client look for in an
outsourcing partner?
▸ Outsourcing clients would assess the credibility of your firm in terms of
background checks, qualifications of your team, past experience (if any),
data security certifications (ISO, GDPR, HIPAA) & having strong HR
compliance provisions in place. Presence on Social Media Platforms
▸ What things are to be kept in mind before entering this industry?
▸ Initial operational investment, adherence to mandatory Global Data
Security laws, Qualified & Skilful professionals, access to international
softwares, International Travel Exposure helps immensely and finally learn
from experiences of various established outsourcing firms.

44. Working in the Global Outsourcing
Divisions, deserving staff from
Outsourcing Firms frequently get
opportunities to be seconded to
clients offices in the US & UK to learn
directly from clients.
Staff get an opportunity to exchange
experiences & develop onsite skills
working live with clients to help in
their personal and professional
development.
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Case Study : Secondment Opportunity

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Final Thoughts
We foresee a clamour for greater flexibility
to work remotely, as many staff will realize
that they can do their jobs from home and
have a better work-life balance
Let's hope things go back to some normalcy
quickly, but seeing what has happened over
the last few months, accountants need to be
able to challenge themselves and work on
developing new skill sets to support the Back-
office needs of the World.
Place your screenshot here

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THANKS!
Any Questions?
Please Contact me at:
suhel.goel@sandmartin.com
Stay in Touch
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LinkedIn pages
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