Finance Processing Outsourcing

Spectra possess all the necessary, relevant and updated resources to provide cost effective and high quality accounting and business process outsourcing services.

We provide assistance for a wide range of finance and accounts processes from book keeping to accounts statements and finalization, from payroll processing to taxation compliance management etc.

When you outsource you FAO process to Spectra, you shall be rest assured of high level of confidentiality, integrity, accuracy and timely results. 

AR / AP Services

Accounts Receivable

To manage cash flow for meeting the company’s working capital requirements is always prime focus for very organization to ensure seamless finance operations. To forecast the future working cash flow, it is important to know at any given point of time the status of receivables and payable along-with the time lag. Most of the time the reason for negative cash flow is due to unsystematic coordination and non-understanding customer process of Invoice processing.

Spectra manages your AR process (Accounts Receivable process) effectively through dedicated process experts who works in close coordination with the client’s payable team by creating a SOPs for each customer so as to minimize time taking in resolving queries at very first level . A full-fledged AR process cycle and related subset of processes help easy work flow and improved core functional assistance.

Accounts Payable

In every company vendor Invoice processing process / Accounts payable process has to pass through various stakeholders for approvals before it is finally paid. In the entire process vendor has no visibility of the status of outstanding invoices. In the whole process vendor and company both spend a lot of energy in follow-up / explaining the exact status of invoice and payment schedule.

For any finance department, tracking each and every vendor invoice status on real time is difficult because it travels through different departments in the company for approvals. To overcome this challenge, Spectra has developed a mechanism with the help of technology, process mapping and manual interface to track down or monitor the invoice status through Vendor Help Desk services.

Initiation regarding receipt of Invoices through Centralized Vendor Help Desk by electronic mode.

• Forward Invoice to respective department or departments for approval as per the approval hierarchy.
• Inform invoice related discrepancies to vendor and seek clarification.
• Forward vendor clarification and resolve query with concerned department.
• Ask vendor to re-submit the discrepant invoice.
• Forward approved invoice to finance department for cheque preparation / online transfer.
• Inform vendor about payment schedule.
• Monitor turnaround time for payment as per SLA.
• Keep record of correspondence with vendors.
• MIS reporting at regular intervals.

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Accounting Services

Spectra has a strong team of accounting professionals with core competencies in setting up of centralized accounting processes & its management thereof. We develop tailor made accounting processes, systems and controls based on the Client requirements. Our business approach is to create a satisfied customer by delivering set accounting processes.  It is often seen small and medium companies do not have skilled resource and requisite expertise to manage accounting processes in systematic way. Spectra understand the constraints of small and medium companies to mange accounting internally, therefore, Spectra come up with accounting / book keeping end to end solutions for small and medium companies. Spectra methodology is first to migrate the existing accounting date to off site location and deploy a  dedicated team of qualified and experienced accounting professional for future operation so as to deliver accounting services such as MIS reporting on payable, receivable, billing expense etc. on real time basis. Spectra accounting / book keeping services are cost effective and gives value to the customer  in term of cost, quality, effectiveness and efficiency. 

Setting up of Accounting System and Management

• Bills payable, processing & disbursement.
• Reimbursements Expense, processing disbursement.
• General Ledger Accounting & MIS
• AR Reconciliation and Collection from Clients

Accounting Outsourcing of your non-core business functions to third party experts can be an effective strategy to preserve limited capital and scarce management time. Factors driving the decision to outsource Accounting / Book keeping are as follows;

• Reducing overhead and personnel costs
• Controlling capital expenditures
• Engaging experts with specialized skills

Benefits of Accounting Outsourcing

• More time for your Core Business
• Cost savings
• Access to accounting experts
• Timely and accurate reports
• Satisfaction Guaranteed 

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HR Manual & Policy formations

To run an organisation whether it is for profit or non-profit or social or any other purpose, it necessarily requires definite policies, process and bylaws which shall be in line with existing geographical, social, legal framework and economic factors. To run an organisation HR polices, process and bylaws are not only mandatory but also plays a vital role in decision making in a given situation. These frameworks are back bone of any organisation and without having these in place organisation can not last long.

Spectra helps organisations to build their HR policy manual by adopting a systematic approach. Our HR drafting experts first holds personal decision with decision makers and understand the vision, mission of busKnow more...

iness and map with these with similar industries and identify what are common amongst similar industries, suggest management for adoptions with minor changes and also suggest where re-draft / reframing is needed. We adopt clear approach to avoid any interpretation issues while drafting a HR policy and also adopt flexible approach for further addition / amendment/ deletion / induction as per company needs. Our Policy Frame work majorly covers the following:

HR Audit

In today’s competitive business world, stringent regulatory framework and the crunch of retaining skill manpower has really become a challenge for every organisation. To counter these challenges it is important for every organisation to have its HR policies, process, HR initiative and regulatory framework should be at par with industry.

To abreast with latest development in HR World, now every HR Head is focusing on HR Audit (Human Resource Audit ) to review its current policies, practices and processes to find out gaps so as to take corrective measures.

Our HR Audit team specialist, conduct Human Resources Audit (or HR Audit) by using scientific auditing technique and systematic approach by reviewing existing human resources policies, procedures, documentation and systems to identify gaps and suggest improvement and enhancement in human resource functions and also assess and determine compliance risk associated with ever-changing rules and regulations.

Spectra HR Audit process begin with preliminary discussion with functional head to understand the area needs to be focus for HR Audit followed by sharing of Audit schedule. We use artificial intelligence chat bot tool for employee survey to get overall feel about the organisation. Our HR Audit methodology is to identify company’s weaknesses and strengths so that an organisation can take timely corrective actions. Spectra HR Audit Outsourcing Services have an edge in many ways:

• Identification of System, departmental, process gaps
• Evaluating Strength and weaknesses
• Cost saving & performance efficiency
• Unbiased Reporting
• Scale up of core operations
• Industry specific benchmarking
• Risk assessment and Counter measures

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Contractual Staffing

The changes in business dynamics, evolving technologies, focus on optimizing operational efficiency and to attain excellence in process by using set global process  have created demand for flexible solutions that reduces cost, enable new competencies and drive continuous process improvements which ultimate results increased in revenues and bottom line.

Temporary staffing services in a way helps organisations in attaining above benefits. Our temporary manpower services are flexible, customer centric. Our contract manpower services ideally suited for small and medium size companies for their temporary manpower needs whether for short term or long term or fixed term contract or on an assignment based.

Spectra provides end to end manpower outsourcing services right from hiring the candidate, Induction and on boarding, appraisal, leave and attendance, exist, statutory compliances etc. In a way we manage complete life cycle of the contract manpower.

Spectra staffing specialist work closely with HR to understand the project requirements and accordingly mobilize resources either for fixed term or temporary period etc.

We provide all kinds of contract manpower services ranging from semi-skilled, skilled, experienced, technical and qualified professional based on client requirements with an aim of adding value to the organisations by ensuring

• No permanent liability of resource cost
• No statutory obligations such as PF/ESI/ P.TAX /Bonus, maternity benefits etc.
• Saving time spent on internal recruitment and replacements.
• Mobilization & demobilization of manpower on short notice

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Manpower Recruitment

The war for talent has become the war for skills. Many companies are now struggling to find and retain skilled manpower. This evolution have created space for specialized manpower recruiting companies having deep understanding of company’s environment, its business operations, company’s future growth plan, etc., on one hand and on the other hand employee aspiration in terms of his professional and financial growth. It is also a known fact for employers that all such skills would be difficult to develop internally due to many constraints within the organisation, therefore, started shifting its internal recruitment process to manpower / recruiting companies.

Spectra offers specialized manpower recruitment services for all across industry verticals. Spectra robust manpower recruiting search process begins with understanding of company profile followed by job description and then clarifications with talent acquisition manager about job description. Our recruiting search is done in a systematic manner by targeting the same industry by matching the skill set as per job description followed by telephonic discussion and then shortlisting the candidate for company review and then finally scheduling the candidate for personal or telephonic interview. Spectra recruitment process outsourcing services help the customer to find right resource at the right time at competitive cost. Our recruiting experts work very closely with our customer to deliver manpower recruitment services within minimum turnaround time. Know more...