FAQs on Outsourcing Financial Services to Cyber Infrastructure

FAQs on Outsourcing Financial Services to Cyber Infrastructure

1. How does the outsourcing of financial services actually work?
At CIS we have three unique ways by which you can send us the documents. You can choose the accounting process which best suits your organization.

A. Server-based system
You could scan and upload source documents to a secured FTP server.
You fax or email the FTP details to us along with the back-up file of the accounting software.
We update your books the same day and upload them back to the server.

B. Remote-access system
You place source documents in your own computer.
We log in to your system using a secured VPN and update your books.
You can then access the updated books from your own computer.

C. Using Application Service Providers
You scan and upload documents to an ASP interface.
Flatworld team logs in to this interface using the access details given by you, and updates your books.
You could then login and view the updated books from your end.


2. What are some of the financial software that you work with?
At CIS, we have a financial services team who is proficient and well-trained at using the latest software available in the financial market.

Payroll Processing Software: Quickbooks Payroll, PayCycle, PayChex.

Tax Return Processing: Intuit's ProSeries, Intuit's Lacerte, Ultra-Tax.

Accounts Receivable Software: QuickBooks, CheckMark, MultiLedger

Bookkeeping Software: MYOB, SAGE, QuickBooks.

In case your organization is using a different financial software, we have the skill and expertise to learn the software that you are using and employ it effectively for your financial services.


3. What are the benefits of outsourcing financial services?
You can give your organization a competitive advantage by outsourcing financial services. Apart from saving on costs and increasing your profits, you can also save on time, effort, expensive software and resources. By outsourcing financial services, you can get access to skilled and expert services.


4. What is the skill level of your financial services team?
At CIS, we recruit only the skilled. We have skilled and well-trained accountants. We also have a qualified team of Indian chartered accountants who head the financial services teams at CIS. Our financial services team is well trained in all the latest software available in the market. At CIS, our financial services team is well experienced.


5. How will you facilitate communication between my organization and CIS?
At CIS we employ the best in class, so that we can constantly be in contact with our customers. Our financial services team will be constantly available over phone, e-mail and chat to answer your queries or address your requirements.


6. Will there be any loss of data?
No. When you outsource your financial services to CIS, you can be totally assured that none of your data will be lost. We take regular backups of your data and hence there will be no loss of your data.


8. Do you employ security measures?
At CIS, we have stringent security measures in place. At the onset of a project, we sign a non-disclosure agreement with our customer. We are also Sarbanes-Oxley compliant. You can be completely assured of total financial data security and confidentiality when you outsource your financial services to CIS.


9. Can you tell me more about the infrastructure and technology at CIS?
At CIS, we have world-class infrastructure and high-end technology to help us deliver cutting-edge financial solutions to our global customers. Find out more about the infrastructure and technology at CIS.


For any outsourcing needs, please visit "The One-Stop Outsourcing Services" provider at http://www.cisin.com

Outsourcing accounting services with Sage accounting software to Cyber Infrastructure

Outsourcing accounting services with Sage accounting software to Cyber Infrastructure

CIS has grown through learning ever growing customer needs and providing customized services to match them. We offer outsourced accounting services with Sage accounting software, the leading-edge business management software in the UK. From start-ups to SMEs, Sage accounting software with its localized applications has made it easy to manage critical business processes like accounting and payroll which operate within rigorous regulatory frameworks that differ from region to region.

Sage accounting solutions are used by 5 million users worldwide to

• Streamline daily operations
• Gain critical financial business insights
• Plan their financial future
• Manage businesses more effectively

CIS has the proven skills and knowledge to handle your typical accounting needs, using tailored Sage accounting products for different business verticals like retail, distribution, manufacturing, real estate, not for profit and construction businesses.

CIS has expertise in offering single business accounting solution with the following Sage accounting software, among others. We also offer customized solutions integrating Sage accounting packages with other third party solutions.

Sage Instant Accounts - a streamlined bookkeeping system for start-ups and small businesses in UK allows you to:

• Organize and Maintain sales and purchases (Invoices, cash flow etc.)
• Organize and Maintain customers and suppliers (CRM & VRM)
• Handle and Maintain invoicing, VAT and taxation

Sage Instant Accounts Plus
Adds on stock management and credit control to the features of Sage Instant Accounts.
Sage Instant Financial Suite
Manages payroll as well as accounts with all the features of Sage Instant Accounts PLUS Sage Instant Payroll.

Sage Instant Business Suite
Combines the powerful features of Sage Instant Accounts, Sage Instant Payroll and Sage Act! 6, a global contact management solution to manage sales, marketing and customer service operations and to automate your business smoothly.

For medium scale enterprises:
Sage Line 100 - a flexible system that grows with your business and allows you to budget by cost centre and department. Allows consolidation of multiple companies, operating structures and currencies.

With Sage, CIS helps you stay in control of your business with up to date, actionable information on finger tips, and in the form of with indepth reports and graphical analysis tools.

Manage customers and suppliers, manage stock, across multiple locations, handle job costing, invoicing, bank reconciliations, VAT, business documentation and communication with your accountant, and complex business requirements effectively with Sage accounting solutions and CIS.

Too busy and tired to handle day to day and long-term accounting operations?
Get CIS to work for you while you focus on growing your business.

For any outsourcing needs, please visit "The One-Stop Outsourcing Services" provider at http://www.cisin.com

Account Reconciliation Services from Cyber Infrastructure

Account Reconciliation Services from Cyber Infrastructure

What is Account Reconciliation?
Accounting and Finance Services
In 21st century organizations the business activity is multilayered and complex. However, account reconciliation still is indispensable step to ensure that all the figures add up right.
Account reconciliation is the procedure of verifying that all accounting records of an organization are consistent with the bank statements. It also ensures that the various components of the company's financial statements agree with each other. Account reconciliation thus entails a detailed check of an organization's financial records, bank statements, client and vendor bills and all supporting documents to detect discrepancies, address them and reconcile the final balance. It accounts for checks outstanding, deposits in transit and reveals errors in the records. Account reconciliation is an integral part of a company's internal financial controls. Accurate account reconciliation reports are an indication of effective tracking and interim controls. Accounting reconciliation is a vital tool for company auditors to determine the veracity of a company's financial statements and its internal reporting.

Why Outsource Account Reconciliation Services to CIS?

• Reduced administrative, management and accounting expenses
• Procedures automated reports and using online tools
• Accounting expertise of accountants with rich experiance
• Access state-of-the-art Account Reconciliation software
• Increase financial controls with accurate and timely information
• Improve fraud protection
  

Service Includes:

• Reconciliation of internal accounting records with bank statements
• Reconciliation of credit-card statements against bank statements
• Ledger reconciliation with vendor and buyer invoices
• Partial reconciliation
• Full reconciliation
• Deposit reconciliation
• Check sequencing

Some of the software packages frequently used at CIS are:

• Pro Tax
• Sage Line 50
• Quicken
• IRIS

Data Security Initiatives at CIS for Account Reconciliation Services
One of the key concerns that customers often have when outsourcing account reconciliation services is the data security aspect since the outsourcing partner has access to critical accounting information of your organization. However, CIS has built-in confidentiality agreements in the SLA and has invested in high security infrastructure for data transfer. Our team is made aware of the highly sensitive nature of the data they deal in and several levels of protection are accorded to ensure that your company's internal information is secure:

• Non-disclosure / Confidentiality Agreements
• Service Centers that function as High Security zones
• Secure Web Servers
• Restricted access to registered and authorized users only
• Virtual Private Network protection (VPN)
• 24x7 uninterrupted power supply
• Encrypted file servers
• Password protected systems

Benefits of CIS's Account Reconciliation Services:
Some of the advantages of outsourcing account reconciliation to CIS are:

• Highly competitive pricing
• Expert accountants trained to offer expert account reconciliation services
• Rigorous data security systems
• Accounting reconciliation over flexible time periods based on client needs
• Customized formats accepted for input data
• Account reconciliation done for digitally or manually kept accounting records
• Data transfer via email, secure web servers or remote access
• Account reconciliation reports generated in customized, digital/hard copy formats
• Account reconciliation services that work within the client's existing financial systems
• Updated systems and processes allow faster, accurate tracking of transaction and accounting data.

For any outsourcing needs, please visit "The One-Stop Outsourcing Services" provider at http://www.cisin.com