Legal Process Outsourcing, LPO Services, Paralegal Services Online. Legal Process Outsourcing (popularly known as LPO) is a practice in which a law firm or corporation obtains legal services from an external law firm or a legal process outsourcing provider.
Usually, corporate houses situated in the countries of USA, UK and Europe outsource their legal work to countries that are less expensive since the lawyers in these countries are quite expensive. By outsourcing the legal work, these corporates save huge costs that could have been spent on legal work. India is one of the most sought-after destinations for outsourcing legal work. The LPO sector is growing enormously in India, and many investors desire for entering into this sector. Why India for Legal Process Outsourcing? There are many reasons why leading countries choose India for outsourcing legal work: Pricing Models used by LPOs Fixed rate: In this model, a fixed price is charged for the entire duration of a project.
Measuring Outsourcing cost Conclusion How Enterslice will help you. Step by Step Analysis of Foreign Funding in NBFC. India has witnessed a significant interest in foreign Funding in NBFC Sector of India post 1991.Conventionally, India had a bank-dominated financial services sector.
However, the importance of Non-Banking Financial Company (NBFC) has been recognized not only as a supplement to mainstream banking in meeting the increasing financial needs of the corporate sector but also for distributing credit to the unorganized sector and to small local borrowers. What is NBFC? RBI has defined NBFC as a financial institution whose principal business is to grant loans and advance, acquire shares/stocks/bonds/debentures/securities issued by Government or local authority, lease, hire-purchase, insurance business, chit business, receive deposits under any scheme or arrangement.
In addition to above, RBI has also listed the exclusion activities to NBFC which are agricultural activity, industrial activity, trading and purchase or sale of immovable properties. New External Commercial Borrowings (ECB) Norms for NBFC Funding. In a recent development, the RBI issued new guidelines for External Commercial Borrowings (ECB) in NBFC funding.
The new norms are a favorable move for the NBFC sector that is having a hard time raising funds from the domestic economy. The RBI has allowed external commercial borrowings for working capital purposes, general corporate purposes and repayment of bank loans. Borrowing for on-lending (Loan to lend money to the third party) by NBFCs for the above mention maturity and end-uses is also permitted. The step is taken to grant long term availability of funds to Non-Banking Financial Companies (NBFCs). However, the ECB’s should be raised from eligible lenders except for foreign branches/ overseas subsidiaries of Indian banks. Earlier in its order issued as on 26 March 2019, it debarred ECB proceeding to be used for the working capital purposes, repayment of bank loans.
Accounts Payable Outsourcing Services and Processing. Handling a large number of invoices and other accounts payable documentation in a row is a very hectic task for the company.
This task also has become extremely time consuming and costly for the Accounts payable department. The accounts payable outsourcing service helps in streamline the multiple tasks, including scanning, matching, validation, and approval. It also enables staff to concentrate on core business tasks, generating faster processing times and quick payments. Why proper Invoice Indexing and per-defined Workflow is required for Accounts Payables Processing? Digitizing your invoices and creating a workflow can help the business to organize the flow of vendor invoices through various approval and quality check process very easily. What do we do in Invoice Indexing? We index your PO and Non-PO invoices/expenses to go through the required approval authority.
Role of Virtual CFO in Small and Medium Enterprises. SMEs are playing a very important role in the Indian manufacturing sector and providing a platform to the businessperson which as a result helps in the economic growth of the company.
Due to its significant contribution, SMEs occupies a very important position in the economic sector in terms of output and export. Now-a-days SMEs are the biggest employment -providing sectors after Agriculture and forms a major part of India’s industrial base. A CFO enables business owners in taking an informed decision. The function performed by the virtual CFO is as similar as Full-time CFO.
What are the SMEs? SMEs are governed by the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006.To avail the benefit of SMEs, it is important to register the firm under the act. How to Get Insurance Web Aggregator License India. A web aggregator is an insurance intermediary or an insurance company that provides information on insurance provided by different companies.
Roles and Responsibilities of a Modern Day CFO in India. Why CFO Should Move Away From Numbers? CFO is an abbreviation for the Chief Financial Officer.
CFOs are more commonly known as Chartered Accountants (CA), Chartered Financial Analysts (CFA), or the Heads of Finance in different countries. They play a pivotal role in an organization. As a key executive of an organization, their objectives must be in line with the success of an organization. They act as consultants and provide a wide variety of services for an organization to carry on its business operations. From the traditional perspective, a CFO/CA performs functions related to accounts keeping and book-keeping.