Business Process Outsourcing Provided by Bestarion
Bestarion began as a software development and business process outsourcing (BPO) company. In 2019, we expanded to offer finance and accounting (F&A) solutions to US accounting firms. Over four years, our accounting & bookkeeping segment doubled in size, and we aim to grow even more. Bestarion provides comprehensive Finance & Accounting solutions for CPAs Firms, including bookkeeping, payroll, tax, and compliance services.
What is BPO Service?
BPO (Business Process Outsourcing) is the practice of contracting specific business functions, such as customer support, human resources, accounting, or IT services, to third-party providers. This allows companies to reduce costs, improve efficiency, and focus on core operations by leveraging external expertise to handle tasks that are not central to their primary business. BPO services can be classified into front-office (customer-facing) and back-office (administrative or support) functions.
The BPO industry in 2024 has witnessed significant shifts, driven by technological advancements, economic factors, and evolving customer expectations. Here are some of the key trends:
Hyperautomation and AI-Driven Processes:
- Increased adoption of RPA and AI: Robotic Process Automation (RPA) and Artificial Intelligence (AI) are becoming integral to BPO operations, automating repetitive tasks and improving efficiency.
- Intelligent automation: The combination of RPA and AI is enabling more complex and intelligent automation, such as natural language processing and machine learning for data analysis.
Remote Work and Global Talent Pools:
- Continued remote work: The pandemic accelerated the trend of remote work, which is expected to persist in 2024.
- Access to global talent: BPO providers can tap into a wider pool of talent from around the world, leading to increased competition and cost-effective solutions.
- Heightened focus on data protection: As businesses handle increasingly sensitive data, data privacy and security have become top priorities for BPO providers.
- Compliance with regulations: BPOs must adhere to strict regulations like GDPR and CCPA to protect customer data.
Customer Experience and Personalization:
- Omnichannel customer experience: BPOs are investing in technologies to deliver seamless customer experiences across multiple channels, including social media, email, and chatbots.
- Personalized interactions: AI-powered tools enable BPOs to personalize customer interactions based on individual preferences and behavior.
What BPO Services Does Bestarion Provide?
1. Accounting Service at Bestarion
At Bestarion, the accounting services include comprehensive solutions for bookkeeping and payroll management.
Bookkeeping
Outsourced bookkeeping allows accounting firms to allocate their resources more strategically, enhancing their overall service offerings. By offloading routine tasks like data entry and transaction categorization, accountants can focus on more complex and high-value services, such as tax planning and investment strategies. This shift not only improves operational efficiency but also allows firms to provide tailored financial advice that meets the unique needs of their clients.
This is a list of services offered by an accounting firm. The services include:
- Transactions Categorization
- Bank / Credit Card Reconciliations
- General Ledger Reconciliation
- Revenue Reconciliation with Bank Deposits
- Invoicing
- Financial Statements & Reports
- Quarterly & Monthly Reports
- Live Support
- Monthly Sales Tax Processing
- Payroll Reconciliation
- Accounts Payable Management
- Accounts Receivable Management
- Report Customizing Package
- Category Tracking
- Accounting Setup
- Catch-up Bookkeeping
- Clean-up Bookkeeping
Payroll
Outsourced bookkeeping allows accounting firms to use their time more efficiently to focus on value-added services such as tax planning, investments, wealth planning, financial disclosures, and advising clients. By delegating routine bookkeeping tasks to specialized providers, accounting firms can significantly reduce their administrative workload, leading to enhanced productivity and better allocation of resources.
This strategic shift enables firms to engage more deeply with clients, offering personalized financial advice and developing tailored strategies to meet their specific needs. With reliable and accurate bookkeeping, accountants can easily analyze financial data, identify trends, and provide actionable insights that help clients make informed decisions. Furthermore, outsourcing can enhance service quality by ensuring that bookkeeping tasks are performed by trained professionals who utilize advanced technologies, thereby reducing errors and improving compliance with regulatory requirements.
This is a list of payroll services offered by an accounting firm. The services include:
- Payroll Processing
- Processing Employee Benefits
- Support in Worker Compensation Audit
- Providing Management Reports
- Payroll Tax Reporting & Filing
- 1099 form preparation
Tax Preparation
During tax season, the pressure to manage tax-related tasks efficiently can be overwhelming for many firms and CPA firms of all sizes. Our professional tax outsourcing services for tax season offer a dedicated solution to alleviate this burden and ensure seamless tax compliance. With a team of experienced tax professionals, we handle everything from data entry, tax return preparation, and review to e-filing, allowing your team to focus on higher-value tasks.
We stay updated on the latest tax laws and regulations to minimize errors and maximize accuracy. By partnering with us, you can streamline your tax preparation process, reduce operational costs, and meet deadlines with confidence, ensuring your firm stays compliant while maintaining quality and precision throughout tax season.
2. Data Services
Bestarion provides comprehensive data services, including: Data Entry and Processing; Data Extraction and Data Cleansing & Data Enrichment.
Data Entry and Processing
Data Entry and Processing involves converting data from physical or digital sources into a format that can be easily stored, managed, and analyzed. Our comprehensive approach ensures that your data is accurate, consistent, and ready for use in decision-making processes. Our services include:
- Manual Data Entry: Our skilled professionals meticulously enter data from various sources, including paper documents, digital files, forms, and emails, ensuring each entry is correct and reliable.
- Automated Data Processing: Our advanced software tools automate repetitive data entry tasks, significantly speeding up the process and reducing the likelihood of errors.
- OCR (Optical Character Recognition): We use OCR technology to convert text from various document types, including invoices, images, receipts, forms, and handwritten notes, into editable and searchable data.
Data Extraction
We focus on collecting data from reliable and credible sources to guarantee that the data we acquire and enrich is of the highest integrity.
Web Scraping: Extracting data from websites and online sources efficiently and accurately using advanced algorithms.
Data Cleansing & Data Enrichment
Our Data Cleansing & Data Enrichment services are designed to transform raw data into high-quality, actionable insights, ensuring your data is reliable and comprehensive. Our Services Include:
- Data Validation & Cleansing: We systematically identify and rectify errors, inconsistencies, and inaccuracies within your datasets to ensure data integrity.
- Data Standardization: We convert your data into a consistent format, making it easier to analyze and integrate with other datasets.
- Data Annotation: We add descriptive metadata and labels to your data, making it more informative and useful for analysis.
- Data Deduplication: We identify and eliminate duplicate entries to maintain a clean and accurate dataset, enhancing the efficiency and reliability of your data.
- Data Appending: We add relevant data from external sources to enrich your existing datasets, providing a more complete and comprehensive view.
Why Choose Bestarion for BPO Services?
Our service costs 60% less than hiring an in-house accountant and offers a more logical solution by providing a pool of expert resources under one roof. We have extensive experience with US accounting and many clients have stayed with us for over five years.
Besides, As a software company, we integrate cutting-edge tools and technologies to minimize manual processes and enhance data accuracy. Our solutions comply with the highest industry standards, ensuring data privacy, security, and compliance.
Our proprietary tools use machine learning and deep learning to automate and enhance data processing, reducing the need for manual intervention and increasing accuracy. We adhere to stringent data privacy and security standards, including GDPR, CCPA, HIPAA, and ISO, ensuring that your data is protected and compliant.
To sum up, Bestarion combines cost-effective solutions, advanced technology, and a commitment to security and compliance, making us the ideal partner for your BPO needs. We offer scalability, expertise, and a trusted relationship that helps your business thrive while staying focused on your core operations.
Conclusion
Bestarion is a leading provider of accounting and bookkeeping services dedicated to helping organizations navigate the complexities of modern business. Our team of experienced professionals is committed to delivering high-quality solutions that streamline your financial operations and empower your employees to achieve their full potential.
Contact Bestarion
Get started. Pick a plan that suits your needs
At Bestarion, we recognize that each business has distinct accounting requirements and financial constraints. That’s why we offer customizable pricing plans tailored to fit businesses of all sizes. Our aim is to deliver affordable solutions while maintaining the high quality of our services.