accounts and finance outsourcing

VGGlobal offers customized vendor payment solutions specially designed to automate the vendor payment process and helping the client build a centralized payables process. VGGlobal, depending upon clients’ business requirements, provides option of either using the client’s software application or its own technology framework or a blend of both to give optimum results.

VGGlobal’s Vendor Payment solutions provide comprehensive features that –

• Streamlines the complete payment process.
  
• Automates invoice verifications and approvals by activity owners
• Provides streamlined processes for processing invoices, recurring payments and expense accruals
• Interface with client’s core accounting systems

VGGlobal also offers the unique concept of “Approval centre”. This concept places emphasis on improved coordination & proactive follow-ups with vendors to obtain the required clarifications for approving the invoices. This translates into a substantial reduction in transaction processing time & costs.

Project Accounting has been one of the most prominent issues being faced by any organization in current times. VGGlobal’s project accounting solution supports the best practices riding on a web-based technology tool. VGGlobal’s solution is efficient for projects of all sizes and the processes are tailored to suit every project. The solution provides for real-time dashboards which help in tracking the actual status of the project.

VGGlobal’s Project Accounting services include the following activities –

• Project Budgeting
  
• Procurement – Purchase Order , Work Order and Contracts
  
• Goods/Service Receipt, Return & Issue Management
  
• Month End Allocation and Provisions Project Site Cash Expense and Non Allocated Overheads
  
• Bill Booking and Vendor Payment
  

MIS Reporting including Project Monitoring & Tracking, Project Cash Flow, CWIP and Procurement Status.

VGGlobal renders these services using it’s web-based project accounting solution which has the functionality to handle the entire budgeting, procurement, inventory, payables and capitalization process. The user-defined reporting also allows the client to create & customize specific reports and dashboards.

VGGlobal helps organizations to automate their entire expense management process using its ready-to-use expense management system. VGGlobal’s solution enables the client to outsource the administrative activities including expense statement verification, entitlement validation, payment processing and helpline management. These processing services, depending upon the client’s automation needs, are generally delivered using VGGlobal’s web-based technology application, which helps the organization to automate the entire process of submission of expense statements and status monitoring.

VGGlobal provides complete set of expense management services that simplify the preparation and management of expense reports, including the ability to:

• Submit expense reports anytime, anywhere via secure Internet or Intranet.
  
• Create customized list of commonly used or required information such as expense types or vendors.
  
• Send automatic notifications by e-mail to employees and approval managers as expense reports move through the system from submittal to approval to reimbursement.
  
• Manage the receipt of supporting documents, verification for completeness, accuracy & authenticity of supporting documents and document management.
  
• Streamlined expense reporting, improved internal controls and comprehensive analysis giving greater insight into spending patterns.

Efficient expense policy enforcement and intuitive screen representation for claimant & approvers.

Drawing strength from its long standing experience & expertise in the accounting business, VGGlobal offers a wide range of comprehensive general ledger accounting services. VGGlobal’s array of GL accounting services include consolidated financial reporting, preparation of financial statements and reports, along with the recording & analysis of financial data.

VGGlobal’s GL accounting solution includes – Recording of all expenses & income

• Maintenance of various ledger & sub-ledger accounts
• Processing of asset disposal and depreciation journals
• Reconciliations – Bank, Branch, Inter-Company, Ledger & Sub-Ledger
• Accruals
• Month-end & Year-end Closing
• Consolidated Financial Reporting
• Preparation of Financial Statements & Reports
  
• MIS Reporting

Tracking assets is an important concern of every company, regardless of size. Many organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. VGGlobal’s comprehensive approach cleanses and fortifies the fixed asset register to establish a strong foundation for effective fixed asset management. These services provide the necessary data visibility to identify operational savings in many areas and avoid the risk of non-compliance with financial, tax and regulatory issues.

While VGGlobal’s fixed asset management services will assist you in meeting external audit and regulatory standards, it can also be extremely beneficial in meeting your firm’s capital budgeting, financial and risk management reporting requirements.

VGGlobal’s approach includes a complete physical inspection of the facility in order to reconcile assets to the fixed asset register. All assets are tagged with bar codes to coincide with the fixed asset register, which ensures more accurate accounting activity. The approach adopted by VGGlobal while rendering fixed assets management services includes –

• Assessment of FAR (Fixed Assets Register) & Accounting Records
  
• Project Planning & Effort Estimation
  
• Physical Verification & Tagging of Assets Reconciliation of Physical Verification Report with FAR
  
• Discussion of Discrepancies & Sign-off Updation of FAR