Finance and Accounting

Overview

Silverskills is positioned through nearly a 20 year track record of proven success to create optimal processes and service offerings to drive business within the financial services, banking, and accounting markets. Partnering with the CFOs of many Global 2000 and mid-market companies, Silverskills employs its human resources, technology, and experience to increase operational efficiency and decrease operational expenditures.

Silverskills has a wealth of service offerings in the finance and accounting space to offer CFOs industry exclusive solutions in financial accounting, tax compliance, budgeting and forecasting, management reporting, credit management, cash forecasting and external reporting. Silverskills is positioned to seize the current trend in the growth of outsourcing. The role of consultancy is increasing in non-audit firms. Silverskills has responded to the demands of the marketplace by developing state-of-the-art and proprietary technology that allow financial, banking, and accounting firms to maintain a competitive advantage in their markets.

Achievements

Silverskills has become a trusted industry leader for two primary reasons, its technology and its human resources. Silverskills utilizes highest levels of quality control and attention to accuracy which is backed by a team of highly experienced management and support professionals. Silverskills has achieved the following results for its clients:

  • Cost savings / reduction of over 40%
  • 50-60% reduction in turnaround time
  • Process accuracy over 98.5%
  • Quality metrics
    • Client agreed – 98%
    • General F&A Process – 95%
  • Highly experienced talent pool is cross-trained to allow for scalability in managing fluctuating workloads and processes
  • Improved operational efficiency by process re-engineering to eliminate redundant processes

Service Offering

Silverskills services the finance and accounting market through the following service offerings:

  • Financial Accounting
    • Close coordination and optimization support
    • A/P, A/R, G/L
    • Reconciliation, analysis and adjustments
    • Consolidations
  • Tax Compliance
    • Payment / refund processing
    • Model maintenance
    • Reporting
  • Budgets and Forecasts
    • Model maintenance
    • Data compilation, maintenance and reporting
  • Management Reporting
    • Pro-forma reporting
    • Variance analysis
    • Reconciliation vs. books
    • Ad-hoc reporting
  • Credit Management
    • Credit analysis
    • Credit monitoring
    • Bad debt recovery
  • Cash Forecasting
    • Daily cash management
    • Forecasting and reporting
  • External Reporting
    • Pro-forma statutory reporting
    • Production of technical notes
  • Risk Assessment and Audit
    • Compliance to Corporate Accounting Manual (CAM)
    • US GAAP Compliance
    • Accounts Receivable Reserves Cycle
    • Inventory Reserves Cycle
    • Fixed Assets Depreciation Calculation
    • Disbursements Cycle
    • SAB 101 – Revenue Recognition
    • Reconciliation of Balance Sheet Accounts
    • Entity Level SOX Control Testing
  • Sarbanes Oxley (SOX) Testing and Compliance

Silverskills services the banking market through the following service offerings:

  • Credit Assessment and Evaluation
    • Defining parameters for providing services or products
    • Profiling credit risk for customers
    • Reviewing financials of the applicant
    • Reviewing collateral security wherever applicable
    • Ascertaining applicants capacity to pay for services or products
    • Determining the eligibility of the applicant for the product or services as per product program
  • Credit Monitoring
    • Receivables monitoring
    • Monitoring working capital limits
    • Monitoring collateral values
    • Reviewing credit risk for customers
    • Demographic profiling of credit risk areas
    • Periodic documentation review
    • Periodic review of collateral / securities
  • Transaction Processing
    • Processing loan applications
    • Processing high volume bookings
    • Billing receivables
    • Retail/customer banking transaction processing
    • Credit card processing
    • Loan booking
    • Insurance administration
    • Foreclosure
    • Payment reconciliation

Approach and Experience

Silverskills has developed a track record of success and has risen as an industry leader by focusing on achieving and maintaining excellence in four main pillars – its people, its processes, its technology, and its knowledge.

To financial services clients the largest benefits of partnering with Silverskills is the ability to achieve significant reductions in turnaround transaction and processing times while at the same time providing the highest level of accuracy and attention to cost reduction. Services will be marketed in a manner that demonstrates the way by which outsourcing services to Silverskills puts transactions and processes in the hands of experienced professionals with the operational processes and technical platforms in place, to reduce error, reduce operational expenditures, reduce processing time, and increase your efficiency.

Silverskills has the capabilities to leverage their experience, resources, and technology to offer both global 2000 as well as mid-market companies the highest degree of operational efficiency and cost reduction. Silverskills' human resources are among its most valuable.

Silverskills is experienced in providing excellent results to the following clients in the banking / financial services and accounting industries:

Banking / Financial Services and Accounting:

  • Top 5 global financial services company with 200 million customer accounts and business in more than 100 countries
  • Leading global direct seller of premium products
  • A top 10 accounting firm in the UK

Customer Experience

Clients of Silverskills experience custom tailored service offerings that allow them the ability to enhance productivity, decrease operational expenses, and increase operational efficiency through a dedication to excellence with its people, processes, technology, and experience. The return on investment is clear. Reduced turnaround times, decreased transaction times, and overall increases in efficiency drive the value proposition of Silverskills. Perhaps one of the greatest metrics in determining the viability of a vendor is their customer retention rate. The vast majority of Silverskills clients are classified as repeat business, with several clients maintaining contracts since the commencement of operation.

Customers ranging from mid-market operators to Global 2000 and Fortune 100 companies all share the benefits of partnering with Silverskills. Silverskills is far more than a vendor – they are a partner in providing custom solutions that significantly affect the way in which businesses operate and view their efficiency and bottom-line.