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Other Related Services
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Corporate services
For clients that want to do business in the Philippines, we assist in determining the appropriate and tax-efficient operating business or investment vehicle and structure to address the objectives of the investor, as well as related incorporation issues.
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Transaction advisory includes all of our services specifically directed at assisting in investment, mergers and acquisitions, and financing transactions between and among businesses, lenders and governments. Such services include, among others, due diligence reviews, project feasibility studies, financial modelling, model audits and valuation.
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Forensic advisory
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Accounting services
At P&A Grant Thornton, we handle accounting services for several companies from a wide range of industries. Our approach is highly flexible. You may opt to outsource all your accounting functions, or pass on to us choice activities.
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Staff augmentation services
We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work.
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Payroll Processing
Payroll processing services are provided by P&A Grant Thornton Outsourcing Inc. More and more companies are beginning to realize the benefits of outsourcing their noncore activities, and the first to be outsourced is usually the payroll function. Payroll is easy to carve out from the rest of the business since it is usually independent of the other activities or functions within the Accounting Department.
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Outsourcing: Beyond technical expertise
21 Mar 2016By: Francois Pons
Companies outsource back-office business processes mainly to boost efficiency and reduce costs. Payroll, HR and accounting processes – the most common to be outsourced – are heavily transactional, and many companies determine that external specialists can execute these far more cost-effectively than they can themselves. It might therefore be expected that providers’ mastery of the relevant technical skills is the critical success factor in any relationship. The intangible aspects of these relationships – a partner’s reliability, trust and other 'non-technical' skills – count as much as (or even more than) harder factors, such as their specialist capabilities, in making outsourcing relationships work. Consider, for example, the important step of selecting an outsourcing provider. Given the overriding objective of boosting cost-efficiency, businesses might be expected to focus on provider cost as the main selection criterion. However for business leaders, cost comes second to service reliability. Trust is the other factor in the top three selection criteria.
Of course, businesses need to be sure that providers will deliver on time and to the required level of quality. But it goes further: many companies are dependent on their outsourcing provider to remain compliant with regulatory requirements.
This dependence helps explain why trust is such an important factor. In Asia’s and Latin America’s emerging markets, for example, this trust is usually built through personal interaction, the basis of any good business relationship.
Communication matters
Communication is integral to building high levels of trust. In fact, businesses told us it is the single most important ingredient of a successful outsourcing experience. More important even than the provider’s pedigree, and considerably more than project governance, resource management and scoping of specifications.
Communication between client and provider needs to be good at many levels. Regular status meetings organised by the provider should be a standard feature of any engagement. In some markets, such as in Latin America, clients may prefer these to be frequent and face-to-face. But providers should also recognise when busy clients may prefer to reduce the frequency of meetings. Good communication practice also means being ultra-responsive: three quarters of business leaders say it is important that their lead outsourcing provider be able to meet with them at very short notice – within 24 hours – should an issue arise.
Being proactive is another part of the trust and reliability equation. Companies want their outsourcing providers to be looking for ways to streamline processes. Good providers also listen to clients to improve their service. Ever tougher competition in this digital age means that companies look for every possible means of boosting their cost-efficiency, and they increasingly rely on their suppliers – including their outsourcing providers – to help them design better business processes.
Extending the check-list
The high value businesses place on these non-technical attributes of an outsourcing relationship pose what may be unfamiliar challenges to outsourcing clients and providers alike. Whether outsourcing for the first time or looking for a new provider, companies need to find ways of assessing how providers perform in areas such as reliability and communication. Reviewing provider testimonials and arranging calls with a provider's other clients are a couple of steps that could help. Clients should also develop metrics to capture these areas of performance, against which their provider can be measured.
Providers themselves need to ensure they have the right account managers and staff able to provide the 'human touch'. Finding professionals with the requisite technical skills, the ability to communicate effectively and build personal relationships with clients is no easy task. But it is clearly critically important so outsourcers need to be measuring the performance of their people in these areas and provide on-going training. They can be sure of one thing: the criteria their clients are judging them on are evolving. Those that can adapt may just create a new point of differentiation with their rivals in an increasingly competitive marketplace.
The author is a Partner and head of business consulting & outsourcing at Grant Thornton France. Grant Thornton International Ltd. is a leading global business adviser that helps dynamic organizations unlock their potential for growth. Punongbayan & Araullo (P&A) is the Philippine member firm of Grant Thornton International Ltd. For inquiries, you may direct them to 988-2288 ext. 760 or visit our website at grantthornton.com.ph
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Notes to editors:
About P&A Grant Thornton
P&A Grant Thornton is a leading professional services firm with a proven track record of high-quality work. P&A provides value-added services to clients through a client-caring team of audit, tax and business professionals who utilize leading-edge systems and technology and are guided by the highest standards of quality, integrity and competence.
About Grant Thornton International Ltd*
Grant Thornton is one of the world's leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, actionable advice through a broad range of services. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to solve complex issues for privately owned, publicly listed and public sector clients. Over 31,000 Grant Thornton people, across 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.
Grant Thornton International is a non-practicing, international umbrella entity organised as a private company limited by guarantee incorporated in England and Wales. References to "Grant Thornton" are to the brand under which the Grant Thornton member firms operate and refer to one or more member firms, as the context requires. Grant Thornton International and the member firms are not a worldwide partnership. Services are delivered independently by member firms, which are not responsible for the services or activities of one another. Grant Thornton International does not provide services to clients.
*All references to Grant Thornton International in the press release and this “Notes to editor” section are to Grant Thornton International Ltd. Grant Thornton International Ltd is a non-practicing, international umbrella entity organized as a private company limited by guarantee incorporated in England and Wales.
As published in The Philippine Star dated 21 March 2016