Commission Reconciliation is one of the most crucial areas in a business and we at Omniscience help you in the management of all backhand processes involved. We not only examine, analyze and report commissioning audits like difference in sales vs reported commission for identified data points or gaps in the POS system records for correction but also raise disputes for missing/corrected commission with the vendors.
Our store commissioning audits are designed to define the attributes of your business. For our customers dealing with retail and likewise organizations we offer reconciliation for commissions and keep an exhaustive tab on all sales data.
Back Office Operations
With our Virtual Back office management services, we offer you the means to run all your operations effortlessly from your central office while we take charge of ground work. We take into account daily negative balance check, daily Loan/Credit Limit check with vendor and HQ, suspense account Non-Traceable transactions report to managing partners, among other services. We help you in enhancing your business by optimizing the functioning of back office at par with your front-end efficiency. We empower you and your employees to not only improve forecast accuracy but help you in independently managing and tracking the performance of your business and employees.
We have provision for restricted access and encrypted communications for information needing high level of security. Our team generates reports at regular intervals to keep you in the loop for efficient management of back office.
An optimum inventory management is the element that distinguishes profitable businesses from others. This aspect of business not only takes into account and manages the flow of units in and out and maintenance of stocks in accordance with demands but also strategizes and balances any excesses or shortages in demand or supply.
With Omniscience you can develop appropriate strategies tailored to your business needs for managing the risks and benefits of your inventory. We help you in avoiding inflation, deflation or shifts in demand by our customized algorithms to help you make the right choices.
Effective inventory management is a prerequisite for the growth of any business by optimization of resources at hand and spike in profitability. Using highly advanced software applications for resource planning, we help you in maintaining the most efficient inventory.
We at Omniscience understand that external procurement is indispensable in the growth of a business. We channelize the processes of finding and obtaining tenders/ external services and help in formulating favorable terms for acquiring goods. Omniscience helps in regulating and analyzing purchasing decisions and reports factors associated with marginal benefit, price fluctuations, handling and delivery. The cost-benefit analysis and cost-utility analysis is helpful in long-term understanding of efficiency of procurement policies.
Accounting and Book Keeping
These are the pillars which form the framework for building a company or organization. We at Omniscience take charge of these indispensable subsets of your business. We maintain meticulous records of not only the day-to-day financial transactions of your business but also accumulate, analyze and organize this financial data to facilitate tax returns and generate internal reports understanding the company’s financial needs.
We prepare financial statements on quarterly, biannual or annual basis customized to your needs. Our ingenious accountants also help in assessing the financial impact of any economic activity on your business, measuring sales revenue and expenses, along with reporting of performance measure of aspects needing attention. Impeccable accounting services with Omniscience, help your business grow with no obstacles.
We at Omniscience have adequate expertise in major Financial Accounting Software like SAP, Oracle Financials, Quick Books and M3.
HR / Payroll
Payroll is one of the biggest expense in any business irrespective of its size. Streamlining the payroll processes with Omniscience helps our customers keep a track of the performance of their employees by means of reports assimilating data from various sources reflecting their productivity and co-relating it with their payroll.
We not only keep a track of all the compensation a business pays to its employees but also simplify the accounting procedures and ensure transparency and clarity in legal and tax-filing requirements. We also account for the various leaves expended by the employees and payrolls in accordance with such variables.
Cash and Credit Card Reconciliation
“Balancing your money is the key to having enough.” And the key to balancing lies in accurate cash reporting in accordance with financial and legal regulations. Omniscience manages cash reporting for your business by implementing auditor regulations onto your present balance sheet by working hand in glove with the accounting unit. We also manage reporting to the Revenue Services in case applicability of Internal Revenue Code on transactions is relevant.