Outsourced R2R Services
Leverage timely and accurate reports to make better-informed business decisions
Discovery CallPowering Business Growth through Record to Report (R2R) Services
Increased regulatory pressures and business demands for granular data make record-to-report a central function for finance departments of the day. Finance leaders are expected to run a streamlined R2R function with high levels of efficiency, while reducing the cost of operations.
QX leverages process optimisation, experienced staff and intelligent technology to help organisations transform their record-to-report functions. Our customised approach and knowhow of client’s processes and business objectives ensures that standardisation and digitisation do not come at the cost of personalisation.
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Benefits
Automation Support
Digitise, automate and transform your record-to-report function.
Reduced TATs
Reduce the turnaround time for month-end closing and management reporting.
Audit Support
Get reliable support to share information for internal & external audits.
Accurate Reporting
Access up-to-date and accurate information for every area of your business.
Scalable Teams
Scale the number of resources to fulfil any spike in demand for reporting.
End-to-end Compliance
Ensure strict adherence to GAAP and other industry norms.
Services
General Ledger Accounting
Maintaining a general ledger is a critical function for any business. However, its mundane & laborious nature often ends up draining a company’s resources. QX Global Group’s General Ledger Accounting service allows businesses to set up a dedicated team of offshore professionals to focus on maintaining an accurate summary of organisational transactions – promoting better informed strategic decisions, meeting compliance and generating insightful reports.
Read MoreTreasury Management:
We offer a wide range of treasury management and accounting services, including payments, collections and reporting, that support Corporate Treasurers and Treasury Accountants. By tailoring our solutions to your specific requirements, we ensure that you benefit from reduced operational costs and increased process efficiency. We harness our expertise related functions like payables, receivables, credit control, VAT processing, compliance, and IT to deliver maximum benefits to our clients.
Read MoreAudit Support
Preparing for an internal or external audit is a daunting task that can involve endless documentation and reporting. With a unique partnership approach at its heart, QX’s Audit Support Service provides assistance to companies to streamline their pre-audit functions. Benefit from QX’s accounting audit expertise to ensure compliance, identify areas of business improvement and detect & prevent frauds.
Read MoreFinancial Planning & Analysis (FP&A)
Financial Planning & Analysis is a key accounting function that demands a highly skilled & experienced team that is capable of drawing and analysing financial data to drive business growth. QX Global Group’s FP&A service allows businesses to stay on top of market trends by setting up a team of dedicated professionals to accurately interpret financial data, analyse business performance and implement appropriate strategic actions.
Read MoreVAT Compliance
The dynamic but repetitive nature of compliance measures often take a toll on a company’s accounting team, taking the focus away from critical functions. Through its VAT Compliance outsourcing solutions, QX Global Group offers businesses to seamlessly manage compliance by outsourcing their key VAT-related tasks like VAT accounting, VAT preparation & reconciliation.
Read MoreFixed Assets
Tracking and managing a company’s fixed asset is a laborious function that is prone to human errors and high operation costs. Partner up with QX to implement a dedicated team to manage your company’s fixed assets – freeing your onshore team of functions like master data maintenance, depreciation accounting and mergers, acquisitions & consolidation of assets.
Read MoreSoftware Capabilities
Choose the Best Accounting Outsourcing Services Provider
An award-winning company that is both SOC 2 and GDPR Compliant
ACCA- approved Gold Employer
ISO 27001 compliance for security & ISO 9001 compliant for quality management
A steady stream of qualified accountants through the QX Academy
Stay on top of all accounting jobs with QX Tracker App
Flexible engagement models catering to all requirements, whether big, minor, temporary, or permanent
FAQs
Here are some of the most frequently asked questions around R2R outsourcing. If you have a question that isn’t answered here, please feel free to get in touch.
In order to leverage financial information to make better-informed business decisions, rapidly expanding businesses often outsource their entire R2R function to third-party vendors. Not only does this accelerate organisational growth, but also frees up onshore teams of exhaustive reporting tasks.
On the other hand, some businesses also pick and choose when it comes to R2R outsourcing, handing over certain functions to an external vendor while continuing to execute others onshore. Some of the top R2R tasks that you can outsource to a vendor are:
- General Ledger Accounting
- Treasury Management
- Audit Support
- Financial Planning & Analysis (FP&A)
- VAT Compliance
When a business outsources their R2R function to a third-party vendor, they end up sharing some confidential documents like invoices, dunning letters & statements and remittance receipts with their partner. Therefore, it is very important to enforce standard procedures to share your financial information in a secure manner.
While outsourcing your R2R function in the UK, ensure that your partner is compliant with ISO information security standards, the UK Data Protection Act, GDPR, and/or any other relevant standards. In addition, it is also important to ensure that your data is stored in highly secure servers.
Experienced R2R service providers usually have teams that are adept to working with all industry-standard software systems. In addition, these partners also offer the flexibility of working with any additional software to address your specific organisational needs. Some of the major software packages you should look out for include:
Oracle E-Business Suite
- SAP Concur
- Tally
- DocuWare
- Access
- Kofax
Our clients prefer outsourcing their accounting tasks to QX, as we offer a wide range of benefits, such as:
- Partnership approach
- Complete data security and confidentiality
- Improved accuracy and increased efficiency
- Access to skilled talent pool
- Transparency in operations
- Scalable solutions
- Flexible pricing structure
- Higher cost savings
Outsourcing your R2R services to QX is quite straightforward. We start with a detailed consultation to understand your needs, followed by a customised proposal. Once agreed, the transition phase begins, setting up communication channels and aligning our services with your processes. In execution, our skilled team uses industry best practices and technology for accurate and timely R2R tasks. We prioritise transparency by providing regular updates. Quality assurance is central, ensuring compliance and data security. We emphasise continuous improvement, regularly assessing processes and incorporating feedback.
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