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Back-office operations

Finance and accounting outsourcing

A dedicated team in Prishtina takes on the transactional finance work that piles up: supplier invoices, customer billing and collections, reconciliations, expenses and month-end preparation. It works inside your accounting system, to your approval rules, while your accountants keep every judgement and filing.

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What can you outsource in finance and accounting?

Most companies outsource transactional finance work: supplier invoice processing, customer billing and collections, bank and card reconciliations, expense checks and month-end schedules. Approvals, accounting judgements and tax filings stay with the company's own finance team or accountant. OLYMP BPO runs this work with dedicated teams in Prishtina, Kosovo, inside the client's systems.

Typical processes
Accounts payable, accounts receivable, reconciliations, expenses, master data
Stays with you
Payment release, accounting judgements, tax and statutory filings
Systems
Your ERP or accounting software, such as NetSuite, SAP, Xero or QuickBooks
Team model
Dedicated full-time staff, from five people

Which finance processes can the team run?

Repeatable, rule-based work with clear inputs and approvals. Each process is documented before it moves, and quality is checked from the first week.

  • Accounts payable

    Invoice capture and coding, three-way matching against purchase orders and receipts, exception follow-up with suppliers, and payment run preparation for your approval.

  • Accounts receivable

    Invoice issuing, payment allocation, statements and polite, documented reminder sequences for overdue accounts, escalated to you at agreed stages.

  • Reconciliations

    Bank, card and payment-provider reconciliations, clearing of open items and clear notes on anything that needs a decision.

  • Expense processing

    Receipt checks against your expense policy, missing-document follow-up and coding, ready for manager approval.

  • Vendor and customer master data

    New supplier and customer set-up, bank detail changes with verification call-backs, and duplicate clean-up.

  • Month-end support

    Accrual and prepayment schedules, supporting workpapers and reports prepared for your accountant or controller to review.

Moving finance processes to an outsourced team, safely

Finance work rewards precision and punishes shortcuts. This guide covers which processes to move first, which controls to keep, and how to tell whether the transition is working.

Which finance processes should move first?

Start with the work that has high volume, clear rules and little judgement. Accounts payable invoice processing is the most common first step, followed by reconciliations and expense checks. Leave processes that rely on undocumented decisions until they have been written down.

Finance processes by readiness for outsourcing
ReadinessExamples
Ready nowInvoice capture and coding, payment allocation, expense receipt checks
Ready with documentationThree-way matching, bank reconciliations, collections reminders
Keep in-house for nowRevenue recognition decisions, tax positions, cash forecasting judgement

Which controls must stay in place?

  • Segregation of duties: the people who prepare payments do not release them
  • Call-back verification of every supplier bank detail change
  • Approval limits enforced in the system, not only in a policy document
  • Named user accounts with multi-factor authentication and logged actions
  • Monthly access reviews, and same-day removal when someone leaves

How should a finance process be documented before it moves?

  • Record the process on screen once, explaining each decision
  • Write down inputs, outputs, deadlines and the definition of done
  • List every exception you know: credit notes, partial deliveries, foreign currency, disputes
  • Agree which questions the team decides alone and which come back to you
  • Name one owner on your side for questions in the first weeks
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How do you measure whether it is working?

  • Accuracy: error rate from weekly sample checks, by error type
  • Timeliness: invoices processed and reconciliations completed within the agreed days
  • Exceptions: how many items need your input, trending down as the team learns
  • Close: whether month-end schedules arrive complete and on time
  • Supplier and customer queries about payments and statements

What does a realistic transition look like?

Move one process at a time. Run the outsourced process in parallel for a short period with full review, then reduce review to sampling once accuracy is stable. Plan the first move away from month-end and year-end, when your own team has the least time to answer questions.

How is financial data protected?

The team works only inside your systems, with no local copies of files or exports. Bank and card numbers are masked where the system allows, access is role-based and logged, and a data processing agreement covers any personal data, such as employee expenses or individual customers.

Last reviewed: . Written and reviewed by the OLYMP BPO team in Prishtina, Kosovo. About the company

Finance and accounting outsourcing: common questions

What is finance and accounting outsourcing?

It means an external team runs transactional finance processes such as accounts payable, accounts receivable, reconciliations and expense processing for your company, inside your accounting system and under your approval rules. Accounting judgements, tax filings and sign-off stay with your finance team or external accountant.

Does OLYMP BPO replace our accountant or auditor?

No. The team handles the volume work that feeds your books. Decisions about accounting treatment, tax positions, statutory reporting and audit remain with your qualified accountants and auditors, who review what the team prepares.

Which accounting systems can the team work in?

The team works in the client's own systems, such as NetSuite, SAP, Xero, QuickBooks or Sage, plus expense, payment and document tools. Each person gets a named account with the permissions their tasks need.

How are payment fraud risks controlled?

Supplier bank detail changes are verified through a call-back to a known contact before they are saved, payment runs are prepared but released only by your authorised approvers, and every change is logged. Segregation of duties is agreed in writing before go-live.

How is accuracy measured?

A sample of processed items is checked every week, errors are classified by type, and the error rate and turnaround times are reported. Errors feed back into training and the process documentation.

How large does the team need to be?

Dedicated teams start at five people. A finance back office often combines several processes, for example payables, receivables and reconciliations, within one team.

Clear the finance backlog without hiring in-house

Tell us which processes you want to move, the monthly volumes and the systems you use. We will come back with a team structure and a transition plan.

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