Business process outsourcing
The current economic climate has re-emphasised to the business world the importance of keeping costs to a minimum and being as efficient as possible within each area of your business. This has encouraged the growth of the market for business process outsourcing in accounting and other sectors.
For businesses setting up for the first time, space and the ability to invest in an accounts team may not be within their budget. Many new and smaller companies are unable to afford their own internal finance teams or financial controller, despite needing to have these functions and financial expertise readily available to them. This highlights the importance of being able to outsource specific functions, with the ability to draw on these resources when required.
At Lubbock Fine, our extensive range of business process outsourcing services allows clients to structure a package relevant to their needs. By passing key accounting and compliance responsibilities to us, management teams are left to focus on their own expertise in the business areas they know and understand.
Finance department services
Many businesses are unable to support the high cost of establishing a bookkeeping department and management accounting system. With an emphasis on flexibility, Lubbock Fine specialises in assessing individual clients’ needs then recommending and implementing the appropriate level of service. We provide a full finance department facility including the preparation of management accounts, nominal and general ledger maintenance; cash book maintenance; sales ledger and accounts receivable; accounts payable as well as preparing cheques for approval and liaising with banks.
Our value-added approach will assist you in making informed and considered management decisions.
Payroll and pensions
A substantial number of clients use our rigorously professional, bespoke payroll service which keeps them informed of their obligations and makes it easier to pay staff and the tax authority on time. We tailor the payment of wages and salaries on a weekly or monthly basis to clients’ individual needs. Given details of the company’s employees, the service is structured accordingly with relevant compliance matters dealt with alongside the provision of necessary documentation to employees, directors and bookkeepers.
Our payroll service is efficient and cost effective and provides you with access to a specialist member of our payroll team who will answer any queries you may have.
Business process outsourcing for overseas businesses
Having easy access to an expert is particularly important for foreign businesses trading in the UK or which are looking to expand into this country. They cannot expect to be familiar with UK laws and regulations and will need to draw upon such expertise when needed.
Our BPO team has vast experience of acting for overseas organisations providing a complete range of financial administration, financial reporting and data capture services. As well as preparing management accounts, which could be necessary to meet global reporting requirements for an organisation’s UK subsidiary or as part of a company’s banking covenants, we can also provide commentary on the results and monitor actual results against budget, discussing with you any variances.
Our flexible approach means our team will work with you to develop a bespoke group of services that meets all your requirements.
Forecasting, the preparation of budgets, cash flows and VAT returns are just some of the other services we offer, as well as providing business consultancy.
Additionally, we provide a thorough, cost effective company secretarial service, ensuring that your company is compliant with current company legislation.