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Shared Service Center – A More Hybrid Approach to Business

Maturing global organizations face a multitude of challenges as they strive to better manage growth for their companies. From consistently improving efficiency, ensuring regulatory compliance to managing localization issues across one or multiple countries the road to global growth is all about managing risk, costs and a global workforce.

A growing number of companies are evolving and embracing a more hybrid approach to business with Nair & Co.’s Shared Services Center that helps them reduce costs while gaining capacity and capability.

Nair & Co’s Shared Services Center Offering to Manage All International Operations

The Share Service Center model is ideal for companies with sizable headcount spread across multiple countries, allowing them to manage all their internationalization operations via a single team.

  • A single accounting team centrally keeps all the books of any location to a uniform standard and operates international payrolls.
  • All tasks required to provide day to day support to the local operation are covered by a single operational cost (fixed fee) of running the foreign entities. This typically works out to be half the cost of in-sourcing to a U.S., European or Far Eastern team.
  • All compliance and consulting needs are also taken care of via a single source. Our strong Human Capital Consulting, Tax Consulting, Accounts Compliance, Tax Compliance, and Corporate Governance groups are spread out globally to meet any consultancy needs for clients.
  • Companies get choice of keeping their accounts either in Nair & Co.’s ERP system or their own ERP system.
  • Nair & Co. teams have expert knowledge of over a dozen ERP systems and work seamlessly with the client’s technology allowing them instant transactional visibility at the click of a button while being in the U.S.
  • Nair & Co. also boasts of an internal software development capability, which can be flexibly deployed to cater to specific client needs.
  • The accounting teams in all of Nair & Co. offices are SSAE16 & IS3402 Type II certified.
  • Stringent measures are in place to ensure data privacy.
  • The teams work to the client’s hours allowing the highest levels of client service.

Nair & Co’s Shared Service Centers with Established Multi-Country Operations

Nair & Co. works extensively with clients that have an established multi-country operation. A typical scenario generally includes five to ten local country accountants and a U.S. law firm with offices in all countries of operation keeping the corporate books for a company. Most often the clients face continuing problems in managing these disconnected providers with issues ranging from inability to communicate due to language issues to getting balance sheets that do not balance. CFOs are constantly struggling to get an assurance that all accounts are prepared in a consistent manner and will therefore be not ripped apart in a multi-country tax audit situation.

Nair & Co.’s Share Service Center (SSC) offering fixes this problem in its entirety. The pick up is easy and streamlined with Nair & Co. working directly with all the varying service providers to obtain all necessary information. A transition plan and a transition schedule is set allowing clients to monitor progress with limited effort and resource spent from their side.

Inheriting Multiple Entities in an Acquisition

In an acquisition scenario the biggest challenge for companies is handling a lot of set up work in a very short span of time. For example, a client acquired another company with only two months to close the deal. The client inherits 500 additional employees in 15 countries and has barely 60 days to ensure all entities are set up properly, all payrolls and benefits are set up and all the HR on boarding done. To add to the complexity they are not actually going to have a list of the actual employees until 35 days before the close.

Nair & Co. is specialized in picking up such scenarios easily with proven mechanisms in place to ensure continuation of support to the acquired offices, ensuring data security and Intellectual Property is handled correctly, and dealing with any compliance or regulatory issues that might come up with the acquisition.

Hear from the clients

“Nair & Co.’s BPO Shared Services Center offering has been instrumental with helping our company drive down the costs of supporting the business functions of multiple overseas locations by simplifying and centralizing all finance and accounting to one source. Nair have also enabled us to roll-out and support new locations rapidly and efficiently, while being affordable.”

Richard Metcalfe, Director International Finance at 3PAR Inc., a Silicon Valley technology company recently acquired by Hewlett Packard.

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