Jayesh Kasim, Managing Director
Even in today’s technology-enabled business landscape, many companies spend hours on manual accounting and financial tasks, which draws their attention away from performing their core deeds. On the other hand, finding qualified personnel for seamlessly running a company’s accounting operations is too expensive and is often a time-consuming affair. This is where outsourcing finance and accounting processes can be a viable, affordable and hassle-free alternative, helping companies enhance their business competencies along the way. To this end, Valenta BPO, a financial services company specializing in outsourced accounting, leverages cutting edge technology, and process consulting to position themselves as the perfect partner for companies to confidently hand over their accounting and bookkeeping tasks. After all, making the transition to outsourced accounting becomes more effective when the provider in question adopts a consultative approach to identify and align to the specific needs of their clients. It is in this regard that Valenta BPO houses their process consulting prong.
The company leverages the prowess of hyperautomation—that entails powerful RPA, data analytics and machine learning capabilities—for its in-house team to enable live-data reporting, identify risks, and to help clients make decisions faster. Hyperautomation has enabled the company to deliver end-to-end accounting practices and virtual agents that deliver virtual bookkeeping services—saving time, money, and efforts along the way. Jayesh Kasim, managing director at Valenta BPO, explains, “We offer outsourcing solutions that eliminate the need for you to invest in IT, HR, payroll, account management, and admin tasks. On average, Valenta BPO clients’ report a cost saving of up to 60 percent.”
Having designed their solution delivery model to meet specific client requirements and offer flexible engagement models, Valenta BPO provides two staff levels pertaining to virtual accounting.
The first level belongs to the accountants, usually including CPA qualified accountants who work within the accounting and finance divisions. Handling the tasks of accounts payable, accounts receivable, and managing reports, the staff also works with CPAs to do the compliance works, tax planning, and tax preparation. Working in collaboration with the company’s’ accounting and finance vision, Valenta BPO’s bookkeeper level of staff assists the clients with day-to-day tasks such as invoice and payment entries, bank account reconciliation, payroll tax returns, income statement, balance sheet and many more.
Making the task easier for accountants and bookkeepers, the virtual staff can work on any software, for example, SAP, QuickBooks, and others. In many ways, Valenta BPO’s hyperautomation enabled virtual staffing is a human raeplacement that can perform all the tasks with complete efficiency and up to 95 to 96 percent accuracy. “Through the power of hyperautomation, we increase the efficiencies of processes and increase the productivity level of the business,” adds Kasim.
With their out-of-box thinking and exceptionally varied problem-solving techniques, Valenta BPO is capable of gauging the unique needs of every business. The company begins with a discovery session which focuses on understanding the client’s current situation. The client onboarding process also includes process mapping to identify which processes can be automated or outsourced. Kasim reminiscence an instance where Valenta BPO’s helped a client in the advertising business who had operations in the US and a support team in Canada. Valenta BPO did a process mapping for their client and automated some of its solutions. This eventually reduced the cost by 30 percent for the client’s support functions.
Valenta BPO has UST SmartOps as its technology partner, making their technologies competent to some of the big names in the outsourcing industry while being low in terms of the price point. Backed by the team of ex-KPMG folks with precise focus on process consulting, Valenta BPO holds a sharper edge over their competitors. Valenta BPO works on the technology side of the clients on an efficiency gain models. The company does a split on clients’ savings, which helps clients show confidence in their technology solutions.
Having carved a unique niche in the space, looking ahead, Valenta BPO, along with improving their consulting and automation capabilities, is building a strong local presence across the US, by embracing a franchise model.