Record to Report Outsourcing Service Provider
Faster closures, improved compliance, and enhanced decision making with R2R and FP&A services.
Discovery CallToday’s global businesses are looking for solutions to reduce the cost and optimize the efficiency of their Finance and Accounting (F&A) functions. Increased regulatory pressures and business demands for granular data make record-to-report (R2R) and financial planning & analysis (FP&A) central functions for today’s finance departments.
QX leverages process optimization, experienced staff and intelligent technology to help organizations transform their R2R and FP&A functions. We follow a customized approach and understand your processes & business objectives to ensure that you are able to achieve standardization and implement digitization.
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Benefits
Improved Efficiency
Reduce the TAT for month-end closing and management reporting.
Experienced Teams
Get reliable support to share information for internal & external audits.
Transparent Operations
Access up-to-date and accurate information for every area of your business.
End-to-end Compliance
Ensure strict adherence to GAAP and other industry norms.
Scalable Resources
Scale the number of resources to fulfil any spike in demand for reporting.
Services
General Ledger Accounting
Maintaining a general ledger account is a critical finance function that can help businesses take key decisions, ensure compliance and generate relevant financial reports. QX Global Group’s General Ledger Accounting solutions allow businesses to improve efficiency, bring down operational costs and shift focus to key business activities.
Read MoreTreasury Management
Successful businesses are more likely to invest heavily in its treasury management systems as they play a key role in boosting efficiency pertaining to key accounting functions and reducing risks. The QX team follows a unique partnership approach that allows us to work closely with our clients to understand their unique organizational needs and delivery highly customized treasury management solutions.
Read MoreAudit Support
Successful businesses end up spending great amount of time and resources in conducting regular audits. As a part of its R2R and FP&A services, QX Global Group offers bespoke Audit Support solutions that introduce a team of skilled auditors to your business. Partner with QX to get expert support in data analysis, documentation or any other audit-related tasks to reduce the burden on in-house teams.
Read MoreFinancial Planning & Analysis
Businesses often rely heavily on financial planning & analysis to accurately interpret financial data and analyze business performance to propel business growth. QX Global Group offers outsourced FP&A solutions that help businesses pull data from critical business functions and analyze it with an unbiased approach.
Read MoreSales Tax Compliance
Managing sales tax is a critical finance function for businesses in the US as it can put organizations at the risk of missed deadlines, sky-high interest rates and late payment penalties. As a part of its R2R and FP&A services, QX Global Group offers bespoke Sales Tax Compliance solutions that give businesses expert support in accounting, preparation & reconciliation and frees up onshore teams from redundant tasks.
Read MoreFixed Assets
Onshore finance teams often end up overlooking fixed assets management – failing to track the location, quantity, condition, and maintenance & depreciation status. QX Global Group’s outsourced Fixed Assets Management solutions allow businesses to introduce a dedicated team of professionals that maintain a reliable and accurate fixed asset inventory.
Read MoreSoftware Capabilities
The QX team works with a wide range of software to transform R2R processes for our clients. We are also open to working with your existing systems or any other software that might suit your business needs better.
Choose the Best Finance & Accounting Outsourcing Solutions 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 outsourced FP&A and R2R. If you have a question that isn’t answered here, please feel free to contact us.
In the modern business scenario, organizations expect their finance and accounting teams to go beyond routine tasks and contribute to the company’s overall growth. Owners now expect accountants to leverage financial information efficiently to drive performance analysis and facilitate informed decision-making. The constantly evolving legislation & compliance environment only contributes to make R2R & FP&A a highly specialized function.
Finance leaders often find it difficult to hire & retain skilled reporting experts, impacting the overall finance function of the organization and taking the focus away from core business activities. Outsourcing FP&A and R2R allows businesses to streamline reporting, improve forecasting, automate repetitive tasks and bring down operational costs significantly.
Some of the key benefits of partnering with a third-party vendor for your R2R & FP&A tasks are:
- Improved efficiency: Leverage staff experience, process optimization and intelligent technology to run a streamlined R2R function with high levels of efficiency.
- Timely, accurate reporting: Generate dynamic, timely and easily digestible reports to conduct in-depth business analysis and make better-informed financial decisions.
- Scalable solutions: Set up flexible teams of data experts to overcome business peaks & troughs and overcome additional costs involved in hiring full-time data scientists.
- Cost savings: Benefit from process standardization, global talent pools, and automation solutions to bring down costs by up to 50%.
Working with an experienced R2R & FP&A partner can allow your organization to introduce a range of industry-standard technology and software to the business. Some of the major software packages you should look out for include:
- Oracle E-Business Suite
- Microsoft Dynamics New
- SAP Concur
- Tally
- DocuWare
- MRI
- Kofax
Most businesses that seek sourcing solutions often end up offshoring their entire R2R & FP&A as it brings about overall process optimization, technology implementation and adds scalability to their business.
Alternatively, you can also pick and choose by offshoring some reporting tasks while continuing to perform others onshore. Some of the key R2R & FP&A tasks that you can outsource to your partner are:
- General Ledger Accounting
- Treasury Management
- Audit Support
- Financial Planning & Analysis
- Sales Tax Compliance
- Fixed Assets
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