Blue Consulting: Accounting Outsourcing Services that Account to Growth

Chandan Goyal,Co-Founder
Chandan Goyal, Co-Founder

Make your enemy your friend and you shall already have won the war. Often accounting is considered a nightmare by several people, and in today’s challenging environment, it seems like an even bigger task. But more and more fast-growing businesses are befriending the elephant in the room by outsourcing their accounting services to people who know how to tame this elephant. Outsourced accounting services have become a growing trend, as it enables businesses to focus on their core function of growth while experts manage this mundane but very important activity.

Having witnessed the transformation of outsourcing industry over the years and being a chartered accountant himself, Chandan Goyal Co-Founded Blue Consulting Pvt. Ltd. in 2007 to help many such organizations and to effectively manage the complete accounting processes for them. Times have changed ever since and today Blue Consulting does everything starting from recording financial transactions, classifying the transactions into meaningful and orderly types, summarizing the accounting data into useful reports and interpreting the financial data to assist in decision making. With over a decade of experience, the company offers end-to-end and standalone finance & accounting
outsourcing services under offsite model for cost-effective and scalable growth in a company’s numbers. The service covers revenue, expenses, compliances, MIS & reporting and also takes audit responsibility.

"Blue Consulting spends a considerable amount of time & resources in understanding its clients' businesses and their main revenue& cost drivers"

With a constantly evolving economy, it is understood that organizations are under pressure to render customized solutions. Meeting these needs, Blue Consulting spends a considerable amount of time & resources in understanding its clients’ businesses and their main revenue & cost drivers. Once the customer requirements & expectations with regards to accounting are clear, the venture deploys its proprietary systems and processes or designs customized solutions to achieve their expected business objective.

In addition to this, Blue Consulting offers accounting outsourcing service with robust technology modules that optimize the client’s current operational framework and enables them to manage performance, automate workflow and analyze high-end processes. “As per our experience of 11 years, 70 percent of the accounting and compliance work is industry-agnostic, whereas 30 percent always needs to be customized,” professes Chandan.

The CFOs' go-to People
To help CFOs who largely depend on their team members for any document or customized reports, Blue Consulting exploits a system-driven approach, cloud-based
software (comprehensive compliance management) and tailor-made MIS & reporting application, which largely reduces the dependency on people and bring predictability in the system. Housing 140 energetic employees, this Noida-based company also deeply focuses on the basics of accounting - detailed narration, back-up documents for any kind of reconciliation, understanding the flow of transactions and a real-time monitoring system for different work allocations. This distinct frictionless approach and proactive communication practice increases a CFO’s managerial bandwidth by over 37 percent and reduces Legal& Professional expenses by 14 percent. Infact, at one of it’s clients, a CFO got promoted to COO within 16 months of onboarding Blue Consulting as a service provider.

Its obsession with international quality standards and transparency has bestowed Blue Consulting with a huge clientele base across sectors including F&B, IT & ITES, Manufacturing, Oil & Gas, and Startups (including unicorns). Its client retention average is more than seven years. Apart from managing a dedicated team to track all the upcoming regulatory changes, it upholds a separate R&D team that takes the company towards continuous improvement and results in consistent value addition for clients. Crediting the team’s experience and to serve it’s clients with world-class services, Blue Consulting aims to become a six sigma certified company.“In the last two years, we have grown by 32 percent and look forward to sustain this growth for the next five years,” concludes Chandan.