28 January 2020 AnkitChadha

Business Outsourcing: The What, How and Why of it

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Outsourcing, in simple terms, is a formal agreement to conduct specified services for a parent company by a third-party agency or firm. Business outsourcing has provided entrepreneurs with the chance to hire the best tech talent, nationally and internationally, at a subsidized rate. The process of hiring any individual or a company to carry out business activities, nationally or internationally, is called Business Outsourcing. It has turned into a common practice for companies to outsource their businesses to acquire skills and services that would otherwise be tough to develop, considering human resources or financial restrictions.

TRC Consulting offers business outsourcing and allows companies to make the core operations its focal point and is cost and performance efficient. In the last decade, with the rise in Global competency, there has been a noticeable growth in the realization as to why large, medium and small-sized businesses have opted for Business Outsourcing. The most common reason is the cost factor. Business Outsourcing helps cut down costs to its minimal, all the while providing superior performance.

 

Different Divisions Of Outsourcing

Almost every singular functionality of a business can be outsourced today. Organizations have started to adopt business outsourcing to focus better on and strengthen their core operations and enjoying the benefits that it offers. TRC Consulting offers the following services in Business Outsourcing:

  • HR Outsourcing
  • Contract and Vendor Management
  • Audit and Taxation (Domestic & International)
  • UK Anti Bribery
  • IT Hardware, Networks- ITGC
  • SAP FICO
  • P2P and R2R
  • Contract Codification
  • SoX Compliance and Testing
  • Transaction Advisory
  • BRS & VRS
  • Management Audits
  • GL & FA Support
  • AP & AR Support
  • Bank/ Vendor/ Customer Reconciliation
  • Audit Support (Overall)
  • Accounting Set up
  • Complete Payroll Structuring
  • MIS Reporting/ Support
  • FP N A
  • Management Consulting
  • Lean Six Sigma
  • Direct Tax- FEMA. Income Tax
  • Indirect Tax- GST, VAT

Business outsourcing is a great and affordable way to expand a company into other countries foundationally, in a cost-effective manner. The Business tasks are given to an independent entity, who takes charge of these activities and delivers performance.

 

The clock is ticking- Start Outsourcing Now!

Proper help and guidance is a requirement to keep any business running. Business outsourcing provides the benefit of minimal or no intervention from your part. Let us understand why you need to start outsourcing business activities:

  1. Research

Research is one of the most critical tasks to outsource, which has a huge significance when it comes to your business. TRC Consulting provides you with unbiased information that would help your business grow. The services involving research work from our end are listed below:

  • Learning & OD
  • Business Development
  • Management Consulting

 

  1. Hiring and Administrative tasks

Outsourced professionals are the new trend when it comes to businesses these days, you can add them on a preparatory level as staff members. TRC Consulting has years of experience when it comes to picking the right staff. Our professionals administer and support your business, having a focused specialty concerning your requirements.

  • Talent Acquisition
  • Campus Recruiter
  • HRBP
  • Admin and Executive Assistant
  • Training & Development
  • Talent Management

 

  1. Accounting tasks

Finance and bookkeeping is a tedious and stressful task that can cause hindrance in the primary functioning of your company. But getting an industry professional to handle your daily accounting is an effective practice when it comes to taxes. Reduce your chances of being audited by considering the financial and accounting services TRC Consulting offers:

  • Accounting
  • Tracking expenses and their categorization
  • Taxation Services ( Direct, Indirect & International)
  • GST related services
  • Accounts Payable
  • Accounts Receivable
  • Invoices
  • Transfer Pricing
  • Dispute Resolution/ Litigation
  • FEMA Advisory Services
  • Inbound and Outbound Investments

 

Be A Partner, Not A Client.

TRC Consulting can help you model out a fully developed business, providing sufficiency in terms of revenue. We come up with practical ways to expand your business and save costs at the same time. We at TRC Consulting consider your business to be a partner and not just a client. We pack an experienced team that has unparalleled exposure across diverse industries and have in-depth domain knowledge of large, mid and small capped business houses. If you need further understanding or have any queries, get in touch with us to know more.