Finance & Accounting
A sustainable strategy to drive down back-office costs
In May 2014, the Local Government Association announced that 48% of councils are set to use reserves as a short term fix for their funding problems. What is really required is a long term approach to drive down costs in back-office functions.
Working with a private sector partner can help public sector organisations identify a number of areas for improvement including opportunities to streamline finance & accounting processes and overhaul legacy systems.
We work with clients to eliminate wastage caused by manual processes, improving speed of payments and accuracy. Our end-to-end service offering includes:
- Record to report
- Accounts payable
- Order to cash
- Project accounting
- Financial support & advice
- Internal audit
- Debt management & recovery
- Process credit & debit card payments
A trusted partner to manage finances
We understand the importance of trust and security in delivering financial solutions, and the unique nature of our long-term partnerships is widely recognised - including some of the most complex and large-scale finance & accounting programmes across the private and public sector.
For example, our private sector Finance & Accounting BPO offering includes a contract to process up to 90% of Microsoft’s global revenues.
As part of ISSC1, we deliver finance & accounting including procurement, payroll and transactional services to the Department for Transport (DfT) and its executive agencies. ISSC1 forms a key element of the Cabinet Office’s Strategic Plan for Next Generation Shared Services (NGSS) which aims to achieve savings of £400m to £600m a year in central government back office costs.
As a testament of our proven track record, Arvato has been positioned as a ‘Leader’ by leading industry analyst Gartner in the report ‘Magic Quadrant for Finance and Accounting BPO’.
Delivering more with less
The standardisation and centralisation of back-office services, such as finance & accounting, delivers substantial cost reductions.
Access expertise through shared services
By sharing services, public sector clients benefit from process improvements and economies of scale.
Arvato’s finance and accounting expertise has benefited the Council, our residents and local businesses. New technologies and processes, combined with a sensitive approach to dealing with our ‘customers’ has ensured the best results all-round.Mark Evans, Deputy Chief Executive, Chesterfield Borough Council