Further, a new stream of consolidation is likely to be a growing reality, although it may appear far-fetched right now. Third party administrators or TPAs who will be increasingly threatened by competitive pressures may buy out smaller BPO vendors, especially offshore ones, to build a presence at a low-cost base like India. On the other hand, some of the large third party providers are likely to buy out TPAs, for on-shore presence, client access and domain knowledge.



A report by Pune-based ValueNotes suggests that insurance offshoring (BPO) to India is likely to grow at 30 percent CAGR over the next three years. India’s revenues are estimated to grow from $690 million currently, to around $2 billion by 2010. Driven by the need to reduce costs, differentiate products in an increasingly competitive environment, and ensure regulatory compliance, offshoring will be a growing imperative for the global insurance industry.



According to the report “Insurance Outsourcing: India Gains Momentum As Offshoring Intensifies – Trends, Insights and Key Vendor Profiles”, the large established offshore BPO vendors in India are expected to gain the most, as they will be able to demonstrate the ability to manage scale, and offer services across the value chain to global customers. “By FY2010”, says Arun Jethmalani, CEO of ValueNotes, “a large number of Indian vendors will have evolved into mature, end-to-end service providers, competing with multinational outsourcing companies”. Players like Genpact, WNS and EXL Services, as well as BPO offshoots of IT companies like IBM, TCS, Infosys (Progeon) and Wipro will emerge as formidable global players in the next few years.



Arpita Bedekar, analyst at ValueNotes, expects “greater offshoring of high-end, higher-value services like analytics, actuaries and underwriting to push average billing rates in offshore insurance BPO upwards by more than 25 percent in the next two to three years”.

Your business can also utilize tax preparation services and tax processing services offered by professional service providers to file your taxes and returns accurately and on time. Here are the top three reasons why you should outsource your company’s tax preparation:


#1: Save up to 60% of your cost through offshore outsourcing


The math is simple. If you employ full-time resources who have ample experience to take care of your taxes efficiently, then you would end-up investing in their salaries, training, office space, workstations, benefits, software license, and a lot more. While if you outsource the work to an offshore company that handles tax processing services and already has a team of qualified and trained professionals then you would spend up to 60% less.


#2: Gain from the expertise of the tax preparation services provider


Companies that provide tax preparation services, tax processing services, VAT return services, income tax computation service, income tax return filing services, etc., have already invested in a solid infrastructure and their staff members have expertise in top-of-the-line tax computation tools like Intuit’s Lacerte, Creative Solutions’ Ultra-Tax, Intuit’s ProSeries, ATX, Drake, and many other popular financial software. Therefore, you won’t have to spend time in learning these tools. Moreover, the service provider’s staff would work at a faster turnaround and with greater accuracy.


#3: Easy to ramp-up and ramp-down resources to manage load


Typically, the finance team in small businesses (if at all they have one) takes care of the taxation part too. Throughout the year, the workload is constant but at the end of the quarter or year when the tax has to be calculated or during the time when your company takes critical expansion steps; it puts additional pressure on the finance team. If you outsource your accounting and tax preparation work, you can take advantage of a flexible team, wherein you can increase or decrease the team size whenever you want and get any amount of work done without hassles.


Through tax preparation outsourcing, you can remove yourself from the trouble to managing tax files and free-up your in-house resources to do more lucrative business development tasks.

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A few of the services offered are

•·         Entry of transactions

•·         Journal entry

•·         General Ledger entry

•·         Assets /Equipment Ledgers

•·         Expenses Ledger

•·         Accounts Receivable

•·         Accounts Payable

•·         Bank Account Reconciliation

•·         Financial Statements preparation

•·         Trial Balance

•·         Income Statement (Profit and Loss)

•·         Balance-sheet

•·         Cash Flow Statement

Computerized processing of all checks and bookkeeping information Bank statement reconciliation Preparation and review of monthly financial statements Maintenance of employee and sub-contractor earnings records Preparation of all tax processing Preparation of year-end W-2 and 1099 forms Day-to-day bookkeeping and accounting Quarterly balancing of books Quarterly production of Management accounts Quarterly production of Vat returns Annual accounts and tax returns preparation Submission to Inland Revenue Expert tax advice to minimize tax liability Adjustments to year-end accounts

With the use of up-to-date accounting software such as MYOB and SAGE, QuickBooks (all versions), Quicken, Peachtree, Intuit ProSeries, Intuit Lacerte,  Net Suite, Creative Solutions Accounting, Master Builder,  Business Works etc., Indian outsourcing companies offer their clients the choice of various accounting services at a much lower rate with the benefit of a highly productive work force.

The client can opt for any one of the three processes offered, depending on their individual preference and convenience.   All options are extremely safe and come equipped with state-of-the-art network security devices.

•1.       Server Based (FTP) Bookkeeping Process:

In this process, the client sends the documents either by scanning the documents and uploading them to a secure FTP server or by faxing the documents to a toll-free fax number. A back up copy of the books also needs to be provided, which can be done using QuickBooks backup. The service provider then works on the books during the same night and uploads the books onto a server or sends them to the client via email. The client is then able to download the books from the server by the next morning.

•2.       Remote Access Bookkeeping Process :

In this process, the client has the option of emailing, faxing (to a toll free number), uploading onto a secure server or just placing the books in the computer which can be then remotely accessed. The service provider then connects to the client’s computer using a remote desktop access service, such as Secure VPN. The client will then have access to the updated books next morning right on his computer.

•3.       Application Service Provider(ASP) Bookkeeping Process :

In this process, the client either sends the books via email, fax (to a toll free number) or just uploads the books to a secure server. The service provider then updates the books using any of the preferred Online Accounting Software available, a good example being quickbooksonline.com. The client then has to just login to the Online Accounting Software in order to view the books.

Nearly 35% of all businesses in the United States outsource their bookkeeping services. The improved flexibility, reduced overheads and operating costs, cost-effective prices, well qualified personnel, high standards of business ethics,  quick turn around time and  increased ability on focus on core business issues has made India the most preferred outsourcing destination.



India, a pioneer in providing outsourcing services across a wide range of industries has years of experience and expertise in providing quality insurance policy services, insurance services, annuity insurance services and claim administration services amongst others. Organizations in the U.S and U.K who have outsourced insurance services to India have been able to concentrate more on their core business functions while getting access to quality insurance services.



Outsource insurance services to India and benefit from expert services, organized process, quality control processes, customized services, experienced workforce and domain expertise. Outsourcing Annuity Insurance Services to India can also help your organization benefit from faster time-to-market and lower operating costs. If you are looking for professional claim administrative services, outsource to India and get access to reliable insurance services.



India Offers End-to-End Insurance Services



India offers varied insurance solutions dealing with health, property, life, annuities, reinsurance and property and casualty amongst others. In case you want a customized insurance service, you can approach your partner in India who will provide you with tailor-made solutions designed to suit your insurance service requirements. The following is a list of insurance services that can be outsourced to India:



1. Insurance Claims Services



You can outsource a wide range of insurance claims services such as loss runs, imaging, death claims, data analysis, recovery, subrogation, claims estimation, claims assignment, imaging and matured endowments amongst others. Outsource insurance services to India and benefit from accurate services.



2. Insurance Agency Management Services



India has expertise in offering agency management services such as, data exchange, representative finder, proposal generation, licensing, commission accounting, resource management, compensation and commissions amongst others.



3. Insurance Policy Administration Services



Outsource insurance policy administration services to India and get access to proficient services such as, billing, alpha inquiry, cash control, correspondence, policy changes, online enrollment, cancellations, new product introductions and case manager tools amongst others.



4. Insurance Compliance Services



India can offer insurance compliance services, such as, DMV reporting, checkfree IRS, checkfree 1099, STAT reporting to state agencies and GAAP reporting to state agencies.



5. Insurance Disbursement System Services



India has the expertise to offer disbursement systems services such as cash disbursement system, structured settlements and payments amongst others.



6. General Insurance Services



India offers a host of general insurance services such as policy conversion, imaging, workflow, document management, GL accounting, GL suspense, web channel integration, legacy system rationalization, componentization, straight through processing, architecture standardization and policy conversion amongst others.



7. Insurance Marketing/Sales Services



Outsource insurance marketing and sales services to India and get access to data warehousing, data marts, lead tracking systems, sales channel management and sales force automation amongst others.



8. Other Insurance Services That Can Be Outsourced to India



• Life insurance outsourcing solutions


• Offshore annuity insurance services


• Property and casualty insurance services



Outsource insurance services to India and give your organization a competitive advantage.

Central and East European (CEE) countries are very small players in the Global market for IT and business process outsourcing. Lack of international trade practice and modern business management competencies by CEE vendors are among the factors keeping CEE region from realizing considerable opportunities created by globalization.

Therefore CEEOA strives to attract considerable attention to the region as an offshore outsourcing location, along with thousands of qualified graduates entering the marketplace each year. Service providers in these countries offer geographic proximity combined with cultural and language affinities, constantly improved business viabilities and services delivery capabilities, and openness to collaborate. The macro economical and political environment is stable, infrastructure is well developed.

Baltic Outsourcing Association (BOA), Ukrainian HI-TECH Initiative, Hungarian Outsourcing Association (HOA), Employers’ Association of the Software and Services Industry (ANIS) from Romania and Bulgarian Web Association (BWA) joined their forces with the purpose to best avail opportunities given by globalization and promote CEE region‘s competitive features in order to capture large share of the global market for IT and business process outsourcing (offshoring) services. CEEOA focus is on all service areas, not only IT, BPO and high tech industries, as its important to consider outsourcing as a non industry specific phenomenon. CEEOA is an open platform for all the organizations and businness associations in the region who are willing to join it or to contrubute to the accomplishment of its goals.

CEEOA operates as an independent professional advisory body on networking partnership basis, – its critical Objective is to create, develop and communicate positive image and main value proposition (-s) of CEE region as competitive alternative to other global IT, business processes and manufacturing outsourcing destinations.

The Association also strives to develop the internal market, where outsourcing should be promoted as a useful management tool for companies ranging from different industries in CEE region. Other Objectives are: to promote transparent and open business environment, CEE regional and international networking that builds operational value by promising and delivering high quality products and services at fair prices over the time, and by building strong economic, technical and social ties among the members of CEEOA and free competition; to improve business viabilities and services delivery capabilities of CEE Service providers; to promote creation and introduction of science-intensive technologies, the development of information society; to encourage each CEE country to increase the level of collaboration between government, companies, and universities to ensure that students gain the skills that companies require.

CEEOA intends to achieve these Objectives with the use of different marketing communication tools as PR, ATL and BTL activities, and the establishment of standardized certifications of Vendors‘ qualification. Besides initiating permanent researches to follow the main indicators of outsourcing, political, economic, and investment market features, Association wishes to maintain value added relationship network with associated outsourcing industry bodies, chambers of trade and industry and professional associations globally, while creating a single information flow promoting and sharing the best practices, expert information and research findings, benefits and innovative solutions in the outsourcing industry from CEE.

Central and Eastern European Outsourcing Association has already accomplished the project ITONews.eu (http://itonews.eu) – information platform, the main aim of which is to create the single information flow from CEE countries and to serve as a meeting place for outsourcing services providers and buyers. Also a brief research “Central and Eastern Europe IT Outsourcing Review ‘2007” has been conducted under the aegis of CEEOA, where the information about IT Outsourcing markets of CEE countries can be found.

About CEEOA
Central and Eastern European Outsourcing Association (CEEOA) (http://ceeoa.org) was founded in 2008. Baltic Outsourcing Association (BOA), Ukrainian HI-TECH Initiative, Hungarian Outsourcing Association (HOA), Employers’ Association of the Software and Services Industry (ANIS) from Romania and Bulgarian Web Association (BWA) became the founders of the association. One of the main objectives of CEEOA is to promote the Central and Eastern European Region as competitive alternative to other Global offshoring destinations, and to increase services delivery quality and volume under recognized standards.

Contacts:
Iryna Dubenyuk
Email: irad@hi-tech.org.ua
Phone: +38 044 458 1753

Outsourcing is an established way of doing business today, allowing companies to maximize their budgets and resources — and generate better products.

Also referred to as subcontracting, outsourcing simply means acquiring a product or service rather than producing it in-house. Outsourcing is suitable for just about any industry. In the administrative field, for instance, a variety of activities can easily be farmed out to a subcontractor, including word processing, data entry, transcribing, research, contact management and event planning.

Outsourcing is extremely common practice within human resource (HR) departments. In fact, two-thirds of HR departments outsource at least one activity, according to research by the Bureau of National Affairs, Inc. and the Society for Human Resource Management. The top five outsourced HR activities are employee assistance/counseling, flexible spending account administration, pre-retirement counseling, outplacement services and pension/retirement plan administration.

Weighing the Outsourcing Option

When deciding whether outsourcing is a viable option, a company should consider all of the issues involved. Should the projects be kept in-house because they’re critical and employees need to know how to do them themselves? Also, does the company have a sourcing plan, staff members to oversee contracts or a philosophy that supports the outsourcing initiative? If it does, outsourcing may be ideal for your business. The bottom line is every business is different and companies should carefully weigh the benefits of outsourcing.

Benefits of Outsourcing

Many companies that choose to outsource do so because they don’t have or can’t attract the people skills they need. Subcontracting gives them access to a much greater pool of resources. It also enables companies to cut cost by 10 to 30 percent, depending on the industry. They can purchase services on an as-needed basis, instead of maintaining a full-time employee. This allows them to avoid paying employee-related expenses such as salaries, unemployment taxes, paid vacation and sick leave, insurance — which results in a lower overhead.

In another aspect, outsourcing can help a company focus on its core business, creating a competitive advantage within its industry. Subcontracting also affords the business the chance to get the best job possible from the people it hires. By using a third party supplier, a company has more room to be critical of the kind of services provided. If the work is done in-house, company ties may interfere with the final product.

Outsourcing also offers a wide variety of other benefits, including:

• Faster setup of the function or service
• Acquire innovative ideas
• Increase commitment and energy in non core areas
• Improve credibility and image by associating with superior providers
• Greater flexibility and ability to define the requisite service more readily
• Less dependency upon internal resources
• Greater control of budget
• Greater ability to control delivery dates
• Increase flexibility to meet changing business conditions
• Purchase of industry best practice
• Generate cash by transferring assets to the provider
• Gain market access and business opportunities through the supplier s network
• Turn fixed costs into variable costs

About The Author – Kate Smalley Connecticut Secretary Freelance Secretarial and Transcription Services http://www.connecticutsecretary.com mailto:kms@connecticutsecretary.com

Original Article

As an owner of a company or a business, you want to save money as much as possible in order to profit more and let your company grow. Thanks to the internet, outsourcing your business process can be done in other countries where qualified, and experienced computer operators are widely available at a very low cost.

Countries such as India, Philippines, China and other developing countries are now accepting outsourcing as part of a very lucrative industry.

Data entry work is one such thing that businesses and companies today are outsourcing to lighten the heavy workload and also to do it more efficiently, faster, and more accurate.

First of all, before you consider this option, you have to know what data entry is all about. Data entry operations include data conversion, image and document processing, image enhancement, catalog processing services, photo manipulation services and others.

Data entry is a constant need for some organization or companies that needs to document its daily activities. So, if you need data entry jobs, you should consider outsourcing it to other companies abroad that offer quality data entry jobs at a very affordable price.

There are a lot of benefits that you can take advantage of if you outsource your data entry jobs. One is that you will be able to have your data entry jobs done at a very affordable price; two is that you will be able to get it done professionally by competent people; and three is that you will be getting rid of this extra work in your company. Meaning that you will be effectively separating your company’s work into manageable pieces.

Data entry is often used in medical billing and transcribing. It can be done by freelancers or an outsourcing company from other parts of the world. Over the past two decades, data entry companies and freelancers have been doing this work.

While it is true that data entry jobs can be done in-house, but there are certain jobs that should be done by experts rather than your staff. If you need a particularly large job in data outsourcing, it would take a lot of time and will require overtime for your staff if you do it in-house. However, if you outsource it, your company will function more normally and focus on more important work in your business.

So, if you have a time-consuming and expensive data entry jobs that your company needs to finish, you can consider outsourcing the data entry jobs to freelancers, or data entry companies that accepts outsourced jobs. For example, catalog management can prove to be very time consuming and expensive. This will involve handling and maintaining paper catalogs. By outsourcing it, you will save a lot of money and still have time for your company’s priority.

Data entry outsourcing will certainly change the way you run your company. It will let you save a lot of money, get the job done professionally, and it will allow you to effectively manage your company’s priorities and workloads.

Always remember that before you hire a company or a freelancer to outsource your data entry jobs, you should first check the quality of their work and their work experience. It is recommended that they should have at least experience in the field of data entry jobs you will be outsourcing.

About The Author – John Ugoshowa. You are welcome to use this article on your website or in your ezines as long as you have a link back to http://www.quickregister.net/partners/ For more information on outsourcing see the Business section of Quickregister.net Free Search Engine Submission Service at: http://www.quickregister.net/partners/

. Original Article

In today’s world Data entry Services is the fastest growing and most popular segments in offshore outsourcing industry .The service range from simple text to alpha numerical entries. To meet the high quality of work, most outsourcing firms are employing the services with talented operators who have good experience in word processing and fast keyboard operations. It is the responsibility of the operator to key the data’s accurate since it helps the organization to keep up with the rapid changes in the workplace.

Business firms have huge data and find difficult to make entries within the timelines and hence the process is being outsourced. BPO companies that are engaged in providing this services offer fast, accurate and effective solution to the clients. Quality is given the high priority by BPO companies. In today’s marketplace, data entry solutions are offered at very competitive prices.

Data entry Services being offered by BPO

Online/Offline data entry, Data capture and conversion, Document processing and management, Medical document entry and Insurance claim processing.

BPO companies operate round the clock to complete the work. To add value to the services customer support is provided by these service providers. The quality document processing services provided by these firms help many corporate firms to stay competitive and profitable in the challenging business arena of today.

Business process outsourcing companies are well specialized in online services which is very helpful in all fields where the information needs to be stored, maintained and used for future applications. Today, many companies has joined with business process outsourcing firms to generate an excellent data management system in their facilities

Benefits of Data Entry Outsourcing Services

Cost Effective: By the method of outsourcing the companies can reduce the costs of resources and increase the efficiency and productivity. Apart from cost effective solution the BPO firms offer a complete security and privacy to the clients.

High Quality Work: The outsourcing firm provides high quality solutions to the clients. As bulk assignments delivered everyday without compromising on the quality issue, outsourcing data entry services is fast becoming the first choice of most of information technology companies.

Time saving and High Efficiency: Everything in the business is mainly done to get maximum possible benefits in least amount of time. One of the important benefits of data entry outsourcing is that it reduces time spending and as a result it leads to high efficiency in the business process.

Many in one service: Data Entry outsourcing services is a perfect collection of number of related services, which include, data conversion, data processing, data security, data scanning, and much more.

Thus outsourcing your task to a BPO company is a feasible and reasonable choice. By outsourcing you can reduce tiresome and time consuming tasks from your regular routine.

By Outsourcing the work, off shoring companies will help you to process your paper work and increase your turn around time and make sure that all files or data is updated as required.

About The Author – Anna Rose is an expert author for writing article related to Data Cleansing Services. Data Entry Solution offers services for Document Capture, Data Processing, Desktop Publishing etc., For more information visit http://www.dataentrysolution.com . Contact me at anna@dataentrysolution.com

Original Article