KPO - An Emerging Opportunity For Indian Chartered Accountants.
As we move further into the Information Age, our success lies in our ability to apply the knowledge that we have obtained. Some of the changes that are occuring in Information Technology are astounding, and will change the face of the business world forever.
Those who are able to take advantage of these changes will pioneer the advances of business and technology throughout the 21st century.
In this knowledge era, our success depends on what we know and what we do with what we know. Perhaps one of the most impressive phenomenons to occur in countries such as India is KPO, or Knowledge Process Outsourcing.
A number of studies have indicated that the KPO field is expect to grow by 45% by the year 2010, and of the $16 billion that will be generated by this industry, over half of it will come from India. The changes that we are going through are mind-boggling.
As you can see, there are a number of lucrative opportunities for Chartered accountants who are willing to take advantage of this market. However, before you can take advantage of this growing industry, it is first important for you to understand the meaning of KPO.
In a nutshell, KPO is an evolution of BPO, or Business Process Outsourcing. The basic idea for outsourcing was first developed by Ross Perot, who was the founder of Electronic Data Systems. The basic goal of EDS was to help companies manage their IT departments. EDS would sell the information that was related to information technology, and their clients would pay them on a monthly basis.
There are certain skills required in an Indian Chartered accountant to be a part of it, which are as follows:
1. Accounting procedures followed by companies in USA, UK or other countries.
2. Knowledge of accounting related software’s like, Quick Books, MYOB, SAGE and other accounting solutions. These are some software’s used as per international standards.
3. Skills in using tax return software’s i.e. Ultra Tax or Irish. These are few of the software’s which are used in preparing Tax Returns and annual accounts for individuals, corporations or private organizations.
Below are brief on what are the services which can be outsourced:
1. Business accounting
2. Maintenance of books and records
3. Asset accounting management
4. Financial analysis
5. Bank reconciliations
6. Payroll management
7. Different types of reports on daily basis.
8. Financial research and investigations.
Read more about KPO - An Emerging Opportunity For Indian Chartered Accountants. at Forum4ca.
Related Posts at our Blog:
* A brief about outsourcing and the recent revolutionary changes in outsourcing process.
* The evolution and growth of outsourcing process in India.
* How KPO is an emerging opportunity for Indian CA’s.
* The basic elements that differentiate BPO from KPO.
* Indian CA’s - The potential advantages and the application of KPO process.
June 13th, 2007 at 11:14 am
I being a chartered accountant would like to be associated with your company
June 16th, 2007 at 8:24 am
I am a Chartered Accountant. I would like to work with your company.
August 17th, 2007 at 10:12 am
Myself a Chartered Accountant. Its my dream to set up my own KPO for providing services. At present I working to set up the same. If anybody is interested please mail on the mail address. I will revert back.
November 6th, 2007 at 2:10 pm
Our firm is a fast growing chartered accountant firm interested in providing online services in finance, accounting and taxation. We have a dedicated team of professionals which is ready to work at anytime. person in need of our services can contact us on the above e-mail address.
December 18th, 2007 at 8:44 pm
I am MBA(financa & marketing),ICWAI(Inter), what are the basic things & key skill required to join KPO.what is Swot analysis of this industries
December 31st, 2007 at 11:09 am
I m chartered accountant and i m intersted in BPO and KPO services. I am in the process of setting up a Outsorcing centre.
February 29th, 2008 at 8:09 am
I am M.B.A.(Finance)and i would like to work with your company.
March 3rd, 2008 at 2:46 pm
hi,
i am a Chartered Accountant & am interested in being associated with your company. I am from mumbai.
March 15th, 2008 at 8:47 am
I am chartered accountant based in jaipur (rajasthan) want to work with your company. I am Fellow member of ICAI and doing practice in jaipur.