Outsourcing

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MVDCO can handle almost every aspects of business administration, leting you free to concentrate on the core activities of your business. Our international clients who are setting up their foot in India find this service particularly useful.

MVDCO offers companies operating in India different outsourced services, including accounting and payroll. We also help many of our overseas clients to set up in India and offer a menu of services to fit every aspect of entering the Indian market.

Our services are structured to let you to select a full back office service or just specific items relevant to your requirements.

Accounting Services
  • A one time creation of chart of accounts and accounting system of your company.
  • Accounting entries from the source documents like invoices, purchase bills, cash expense vouchers, credit expense vouchers, salary, debit/credit notes etc.
  • Accounting and maintaining the inventories in the accounting system.
  • Banks and Vendor Reconciliation Statements.
  • Periodically working of various regulatory liabilities.
  • Review and analysis of Account Receivable and Account Payable.
  • Review of Capital expenses.
  • Generation of Management reports like Profit and Loss Account Statement, Fund flow, Ratio analysis, Budgeting etc.
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Payroll

Payroll Management is an efficient way of managing all kinds of financial obligations towards your employees. As your business expands, managing timely and accurate disbursal of salaries and other perks become a challenging task. Payroll isn’t just about paying your people, payroll outsourcing services can give you new business insights and help you adher to compliance easily. A shortcut to taking your human resources management to the next level .

We at MVDCO provide you with a full-fledged payroll solution that reduces your processing costs while ensuring accurate, streamlined and consistent execution of your payroll and compliance needs. Starting from payroll processing to tax proof management, leave/absence management, employee self service, query management and reports & analytics are offered as managed payroll services.

Our Employee Self Service (ESS) portal is a comprehensive solution that enhances employee experience while minimizing time and effort. It helps employees to: View their personal details, change or update their information in real time. View / download their payslips and their tax computation sheets. Submit their investment declarations. ESS portal also serves as an online interface for all other HR activities such as leave management, payroll related expense management and employee query management.

Better and efficient payroll management process means :

  • Streamlined processes & faster turnaround time
  • Support through entire employee life-cycle, from date of joining to exit
  • Consolidated, error-free documents & reports with sharper business intelligence
  • Lower risk related to compliance and penalties
  • Assisting in designing the tax efficient pay structure of the company.
  • Generating report on tax liability.
  • Better resource deployment
  • Decreased IT infrastructure investment
  • Obtaining the registration and regular compliance under The Provident Fund Act.
  • Speedy resolution of employee issues
Accounting & Financial Systems Setup

It is said that “Precaution is better than Cure.”

It is extremely important for an organisation to clearly articulate and define its Accounting and Financial policies, procedures and guidelines. The end result of this exercise is prepared in the form of an Accounting and Financial Manual. The Manual depicts a detailed processes and flow of working of this department. It takes into congnisance the final reporting requirement of the management. The Company management takes important decisions based on the financial reports they get from the Accounts. Therefore the “Chart of Accounts” is defined in the system which is in conformity with such MIS reports. The purpose is to ensure that there is complete clarity on the system, processes and policies of this division, all assets are safeguarded, financial statements are in conformity with generally accepted accounting principles, various regulatory compliances are tracked and that reports are generated with accuracy and within the prescribed timelines.

The important Tasks covered under the system set up are :

  • Chart of Accounts
  • Flow of Documents
  • Process flow
  • Statutory compliances
  • Define Roles and Responsibilities
  • Management Reporting
  • Data security
  • Data back up
  • Training

Principal Objectives :

  • Ensure optimum utilization of resource
  • Ensure robust financial processes & controls
  • System driven model and not person dependent
  • Well defined Roles and Responsibilities
  • Easy to train employees and clarity in working
  • Cost benefit in the long run
Virtual CFO Services

Virtual CFO service provides businesses which have a finance and accounts team but do not have a in-house CFO, a Finance Partner in their growth journey.

Hiring a full-time professional CFO may not be in the budget of a small enterprise. Start-ups and SMEs are increasingly recognizing the need to have professional CFO services and realize that managing a businesses finance and accounts, compliances, corporate governance, reporting and strategic requirements are important tasks.

A virtual CFO is an outsourced service same as their full-time counterparts offering high-quality assistance in all financial services at cost efficient model.

Key Functions :

  • Monitoring of activities of Accounts and Finance teams
  • Funds management & planning
  • Banking relationship
  • MIS reporting
  • Peer meetings and inputs
  • Compliances
  • Costing and Analysis

The key element of our methodology is :

  • Our objective is to provide high impact shared CFO (Financial Controller) services to businesses as one of the key stakeholder & value creator while creating a vibrant & value driven finance function by leveraging comprehensive tools, domain expertise & rich network.
  • Our solution is execution focused. We oversee the complete finance and accounts function and provide day-to-day oversight, mentoring and support to the client’s team and management.
  • Our Services are not advisory consulting services but rather we perform the role of virtual financial controller/CFO with hands on approach while executing and delivering engagement.
  • To offer shared CFO services by competitively positioning in terms of best of quality, measurable matrix & value pricing.
  • To provide flexible engagement model by providing seasoned CFO with hands on approach.
  • Effectively, in nutshell, we provide complete integration & alignment of business with finance.