Why should an Accounting firm or other Professional Services provider outsource with Hanagrove?
The primary reasons are:
- Reduced operating or other costs
- Convert fixed costs into variable costs
- Allow management to focus more on core competencies
- Increase flexibility and scalability of operations
- Gain access to global human capital at a reduced cost
What should you look for in selecting an outsourcing firm?
You should exercise due diligence regarding the outsourcing firm’s capabilities, capacity, and resources to ensure that they can deliver on all expectations. You should evaluate their experience in meeting U.S. standards of client service. Are they an established U.S. outsourcing firm with offshore offices or an offshore company trying to win business in the U.S.? They should be able to comply with contract terms and regulatory requirements in all relevant industries and jurisdictions. You will find that Hanagrove delivers on all frontiers.
Will the Accounting firm or other Professional Services provider lose control over their processes when they outsource to Hanagrove?
No. Hanagrove becomes your offshore based extended enterprise, providing you the benefits of a captive BPO unit and delivers cost efficiencies. Depending on the assignment, Team Hanagrove can work in both an onshore and offshore environment.
What about the security of data sent to Hanagrove?
Hanagrove utilizes the same technologies used by financial institutions to protect their data. Unauthorized users cannot access the data. We comply with ISO 27002 which describes the best practices in information security management systems.
Does Team Hanagrove have the necessary language and financial skills?
Yes. At Hanagrove, both onshore and offshore professionals are managed and trained as in a typical U.S. Professional Services firm. They are subjected to a rigorous recruiting and screening process. All professionals are highly educated, fluently speak English and have experience with either Big 4 or Fortune 100 companies.
Who is a Chartered Accountant in India?
A Chartered Accountant is a member of the Institute of Chartered Accountants of India. This body is established by the Government of India to regulate public accounting. To become a member, a person has to undergo at least three years of practical training in a Chartered Accountant firm and gain specific experience mandated by the Institute. In addition, the candidate has to pass a series of exams in accounting and relevant subjects. By law, only a Chartered Accountant can issue an audit opinion on the financial statements of a public company. In other words, the training and skills of a Chartered Accountant are comparable to a U.S. CPA.
What is Hanagrove’s approach to U.S. GAAP and other regulatory requirements?
Team Hanagrove are fully trained in U.S. GAAP, IFRS, GAAS, SOX, IT audits and cutting edge auditing techniques. They are also trained on U.S. compliance, U.S.A. PATRIOT ACT 2001 requirements, AML and BSA regulations, FDICA, and other regulatory compliance areas.
What parts of my work can I outsource to Hanagrove?
We can outsource all or part of your internal/external audits, compliance services, financial statement analyses, etc. We can also outsource transactional back room work.
Do I need a long-term contract to work with Hanagrove?
No. All assignments are tailored to meet your needs.
How are outsourced projects managed?
A Partner is assigned to each engagement. The Partner assigns a project manager to work with the client’s management.
How does Hanagrove ensure that quality standards are achieved?
Team Hanagrove have a combination of Big 4 and Fortune 100 backgrounds. They are managed and trained as in a typical U.S. Accounting firm being subjected to a rigorous recruiting and screening process. We partner with our clients in a transparent manner consistent with their protocols, which leads to a seamless integration of Team Hanagrove and our client’s team. We regularly report on Service Level Agreements (SLAs) and provide clients with a performance dashboard which details key performance statistics.
What should you expect from Team Hanagrove working at your site?
Because of the high professional caliber of Team Hanagrove, you should expect quantifiable results. They will maintain open communications and be productive from day one through the completion of their assignment.
What hours does the offshore team work?
Standard hours are 4:00 AM to 1:00 PM EST. This gives the client the advantage of overnight processing, early morning review and live interaction time with the dedicated offshore team. In addition, we have the flexibility to work any shift that is required by our U.S. clients.
How much cost savings can I expect?
It depends on your current cost structure and the nature of your Hanagrove assignment. Typically, the cost savings are greater than 30%.
How do I get started using the outsourcing services of Hanagrove?
Simply call us at (732) 410-4524 or e-mail us at info@hanagrove.com. We look forward to hearing from you.
