SPECIALIST'S OPINION

Find how to improve the efficiency of financial processes

Financial BPO presents multidisciplinary approach and key indicators to the business

Fernanda Bilbáo*

In a scenario like this current one, in which everyone is immersed in economic uncertainties and doubts about the possible consequences of the pandemic, companies face pressure to optimize processes and costs. The financial organization and the ability to analyze opportunities, more than ever, represent competitive differentials.

Data from the Ministry of Economy show that in the second quarter of 2020, 1,114,233 companies were opened, while other 331,569 were closed. Many are the reasons for the closure, whether by the impacts of the pandemic or by management issues. In this context, BPO - Business Process Outsourcing can be an important support by offering a specialized overview at finance.

Implementing improvements to financial management

Something common and that occurs in companies of various sizes is a lack in the organization of the financial routine. Many of them are unaware of essential practices for the dynamics of the area, which influence the control of deadlines, schedules, projections and, in general, the performance of finances.

Some processes in which it is usually possible to implement improvements based on the performance of BPO are as follows.

Control of company and project’s cash flow

It is utmost to map cash inputs and outputs to understand the origin and destination of funds and the deadlines that must be met to avoid penalties and interest. This analysis can lead to identification of expenses to be eliminated, highlight the existence of a balance intended for investments, or indicate the need to improve the planning.

Aging report

As this report lists what each client has payable or what is payable to each supplier, all deadlines are easier to track and consequently optimize controls and improve planning.

Monitoring of banking operations

Having accurate information is a key factor in assessing the financial picture. Net assets need to be monitored so that they can meet more immediate commitments or allocate resources for applications.

Multidisciplinary work

At DPC, this is one of the differentials. Professionals from the financial, accounting and tax areas act in an integrated way, being at the client's disposition to guide the management in these points, in accordance with the business objectives.

Indicators’ management

The evaluation of results must be measured by indicators established according to the strategies of each business, which reflect the reality and assist in decision-making. In this sense, financial reports are important to supply the company with reliable information that will contribute to reaffirming attitudes or changing directions.

Why considering the financial BPO?

The financial control routine requires specific knowledge and requires excessive hours from the internal team. This is where the outsourcing of business processes presents itself as a good option for companies interested in counting on specialized support to increase operational efficiency and optimize costs.

When starting the BPO, the specialized partner must propose a complete diagnosis to identify the needs of the service provision, of eventual failures in the process and of bottlenecks that may be compromising the performance. Based on this mapping, the team working in the BPO prepares a plan to indicate practices that lead the client to increaser in efficiency.

*Fernanda Bilbáo is partner and the Financial Management's manager at the Domingues e Pinho Contadores, which represents GBrasil in the cities of São Paulo and Rio de Janeiro.