ONCA

The object of the company is to provide all kinds of financial services under one umbrella to the satisfaction of our clients.

The growing and transitional economy has been successfully adapting & moulding itself to the global culture by retaining its traditional values & practices. At its transition stage from traditional to modern trade oriented society & economy, some important sectors have emerged to meet Indian consumers basic needs which will help them to be in pace with today’s fast & chaotic life style on the earth. These trendsetter and foundation sectors are:

  • Quick Service Restaurants (QSRs), Retail & Hospitality.
  • Healthcare
  • Infrastructure
  • Food & Food Processing.
  • Education
  • E-Commerce, IT & ITES etc.,

There is an opportunity of meeting our clients’ day-to- day non-core works like execution of Legal Compliance, Payroll etc., without hampering its core business. It has been a success story for several Indian as well as MNCs who were reluctant to outsource these areas of expertise, however, their trial and error option worked so well that, today it has become a milestone for most of the corporations who feel that “Core Business” is much more important than “Auxiliary / Supporting Services” like statutory compliance which at any point of time not less important and crucial than any other line function. Therefore, we tailor made module(s), which expedites the statutory compliance processes in pace with the changing laws of the land without any compromise on “Time, Quality & Desired Level of Standards”.

Analysts, industrialists and professionals are of the opinion that a strategic mix of shared services and outsourcing is a new model that drives global organizations to achieve and sustain excellence. Today, transformation of business operations has shifted the focus from a traditionally reactive and administrative function to one that is tightly connected to the business goals. Initially, outsourcing was done mainly to bring down costs; however, a changing feature of outsourcing today is that, it no longer involves only low-key operations. Increasingly, services that are being outsourced are those that require highly skilled and qualified personnel who are able to provide the service quality standards required and this has led to an increase in the outsourcing of following services:

Business Advisory and Liaison Services

  • Liaison with Government Institutions @ Pan India
  • Inspections under different Labor Laws
  • Crisis Management
  • Statutory Legal Audit + Legal Proceedings

Compliance - Execution & Maintenance

  • Labors Laws like Apprentices Act, Contract Labor Regulation & Abolition Act, Factories Act, Industrial Disputes Act, Trade Unions Act, Workmen Compensation Act, Shops & Commercial Acts, Labor Welfare Fund Act etc.,
  • Register & Record Maintenance under all state and central acts applicable to various sectors

Accounts Management Services (AMS)

This service caters to day-to- day accounting services of its clients. Any organization may not be willing to create a heavy functional department as “Accounts & Taxation” at its “Formative Stage”. We at CredenceGlocal® have a team of Finance & Accounts Professionals who meet our clients’ following expectations:

Accounts Management Services (AMS)

Financial Accounting

  • Book-keeping & Accounting
  • General Ledger
  • Accounts Receivable & Accounts Payable
  • Invoices and Billing
  • Bank Reconciliation

Financial Statements, Analysis and Reporting

  • Accounts Reconciliation Report
  • Financial and Ratio Analysis
  • Budgeting and Forecastin
  • Inventory Accounting
  • Management Information System (MIS) etc.

Compensation Administration & Management (CAM)

An organization grows in numbers in due course wherein it has its internal human resources handling compensation administration function. This function calls for intensive people and technology interventions with infrastructure which become more of a liability for an organization than an asset. Therefore, we as your Business Partner and Extended Arm can serve better simply because we have the domain expertise with technology on administering and managing your “Employee Self Service (ESS)” to “Help Desk” which is the source of information and reporting even for the management.

Compensation Administration

  • Leave and Attendance Management.
  • Monthly Wage Calculations with Pay Advice to the banks.
  • Payroll Taxation Services i.e. employee Income Tax, Professional Tax, Income tax, Labor Cess, Fringe Benefit etc.
  • Employee & Management Reporting Services
  • Pay Data Management Services like preparing details for legal cases etc.
  • Employee & Management Enquiry Services (Help Desk)
  • Gratuity and Superannuation, Provident Fund, Pension & ESIC administration and management.