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Consultants and outsourcers, Wipro, has launched what it calls Finance and Accounting Business Process as a Service – and if you are thinking that this sounds just a bit close to the capabilities offered by Netsuite that is because the new offering has been developed in partnership with the company and built on its cloud-based financials / ERP and omnichannel commerce software suites.
Wipro’s has grafted on to Netsuite its own process capabilities in finance and accounting to create the F&A BPaaS, which has been built on the Netsuite platform, along with added Wipro business processes.
The solution empowers customers to selectively manage and control their finance and accounting processes on a standardised platform, in a 100 percent variabilised cost model. It also enables rapid implementation of business processes, improves compliance standards, and provides operational readiness, leading to significant cost savings.
The solution enables enterprises to manage their global F&A operations, with extensive management reporting and analytics capabilities, that would allow them to measure their current process performance and set a goal for improvement. The solution also measures and improves a set of pre-defined business outcomes.
“As enterprises renew their focus on agile finance and accounting processes, there is an intensifying need in the market for a platform that can provide end-to-end F&A solutions in an ‘as-a-service’ model. As a result, enterprises are increasingly moving to innovative cloud-based models,” said Jeff Heenan-Jalil, Wipro’s Senior Vice President & Global Head, Advanced Technologies & Solutions. “Leveraging Wipro’s comprehensive cloud services proficiency and business process expertise, the F&A BPaaS solution helps organisations in process harmonisation, optimal organisation design and change management, offering transformational benefits to our customers,”
According to Jim McGeever, COO at NetSuite,Wipro's heavy investment in NetSuite, coupled with its domain expertise and process capabilities in accounting and financial management make it the ideal implementation partner for F&A BPaaS.
