Finance & Tax Services

‘Financial services’ includes operations like accountancy management, stock brokerage, and individual savings and investments. Similarly, ‘tax services’ also involves undertakings further and beyond tax calculations and payments. For businesses and individuals alike, this term refers to the preparation of taxes and tax returns statements, compliance to regulatory and legal requirements, and opportunity capitalization in times of concessions and benefits offered by the federal authorities. All these services are offered by Intersoft BPO to their clientele that also includes large to mid-size accounting firms.

* Note: This survey was conducted by PricewaterhouseCoopers (PwC), and consisted of 127 European MNCs and 127 American MNCs.

For a small business, the most important financial services might include financial planning and analysis – the allocation of resources to different business segments; growth and expansion plans – which market niches are most financially lucrative; bookkeeping and financial statements – preparation of financial records according to regulatory bodies; audits and reviews – keeping a tab on revenues and expenses, with focus on maximizing efficiency and profitability; and payroll management – collecting and recording the salaries and remunerations of staff, or outsourced human resources. We take all these tasks off the table and let businesses focus on the growth and beating competition!

For larger businesses, however, financial services come second only to the core activities. The bigger the business, the larger the risk of financial embezzlement, higher chances of error in financial statements, and higher potential risk of investments in new projects. Therefore, financial services for bigger corporations also include legal advice and support. The maintenance of business contracts, regular audits ensuring legal compliance, as well as constant updating of the business operations to stay in line with laws are all services that come under financial heading. Without exceptions, the costs that result from negligence in compliance far outweigh the costs that go into ensuring that books and business operations are in order. Furthermore, penalties and fines are never good for market reputation and have a direct impact on the stock prices, as well as customer retention and growth. Our excellent team of certified CPAs, CFAs and Virtual CFOs is capable of assisting you with all type of financial activities.

Tax services are pretty much the same for both big and small businesses. The main types of taxes that businesses have to pay include income tax – that is applied on operating profits; sales tax – that is legally applied on goods and services sold and goes directly to the exchequer, property tax – due on the fixed assets owned by any business, such as real estate; and excise taxes – applied on specific businesses for example those involved in communications or transportation businesses. There are also self-employment taxes that the individuals running the businesses pay on their incomes; and payroll taxes that are often paid by the companies on behalf of their employees based on those employees’ remunerations. Therefore, tax services mean the calculation and management of all these types of taxes, in addition to filing and claiming tax returns.

Smaller businesses often outsource these heads to specialist companies bound by strict privacy and secrecy contracts. The advantages of such a decision, in fact, prevail over the benefits of keeping everything in-house. Firstly, a higher number of qualified individuals are accessible this way at a much lower cost than permanently hiring them. Secondly, the companies handling these services are often more informed of the market and customer dynamics because they are dealing with more than one business in more than one sector. Thirdly, specialized professionals are also more hands on with the current and expected legal changes, offering the advantage of adaptability and flexibility to their clients. Fourthly, and most importantly, outsourcing these services frees significant sources, in both time and money, for the businesses to focus on core revenue generation activities.

As businesses grow more competitive and customers get more informed and selective, it is becoming increasingly important to attain resource optimization and operational efficiency. Therefore, most modern businesses are opting towards outsourcing financial and tax services to attain adaptability and reduce costs. Intersoft BPO promises growth oriented performance and hassle-free, error-free management of your financial and tax services. With the best professionals on board, we guarantee the best results for your business.