The presentation will be given by Tomáš Frkal from Process Solutions in Prague, company providing outsourced accounting, reporting, payroll and tax compliance services. Tomáš has tax advisory background he previously worked in BIG5, Eurotel and RWE in tax as well as in treasury.
His presentation will examine advantages and driving factors for outsourcing of accounting functions including statutory or international reporting. This part will for example cover outsourcing drivers as lack of expertise, floating demand for personnel, reduction of management costs, costs restructuring (CAPEX to OPEX, fix to variable) and focus on core business.
The presentation will also analyze the limitations and inhibitors of outsourcing. This part will touch on outsourcing risks as security, independence and control, underestimation of costs, loss of expertise and low quality caused by supplier opportunism or poor communication. Tomáš will also outline costs efficiency analysis which should be part of a pre-outsourcing preparation. As a successful change from in-sourced to out-sourced accounting significantly depends on the right choice of contracting partner the presentation will also cover this topic.
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