A new direction: Norwegian businesses outsource accounting services in Lithuania
“BPO House” company, which provides business process’s tenancy services made a contract with Norwegian accounting company “Oug”. This contract involves implementation of source documents and operations in client’s accounting system “Mamut”. Value of this contract for three years seeks about 150 thousand euros. “While working with us, Norwegians are planning more efficient process and smaller expenditures.” – affirmed A. Kaubrys, Director of “BPO House”.
Up till now, BPO House has provided services mostly in the Baltic States. A. Kaubrys states the fact that two-thirds of his clients are foreign fund enterprises. In West, it is common for enterprise to lease and buy some of business’s processes. Scandinavian enterprise, which would like to support accounting subdivision, is rarity. “While working with us, Norwegians are planning more efficient process and smaller . Managing accounting, routine accounting activities such as converging and processing source documents and bank transfers takes majority of time. Organizing implementation of this kind of services is difficult: it is essential to follow taxes, to update systems, to take care of convertibility of an employee and etc. It is logical to separate this part of service. In Norway, this service’s expenditures are high; it is expensive to implement it. For this reason, it is understandable that this part of work is designated to us. We can organize it easily: there are many hard – working and competitive people who are able to do that”, says A. Kaubrys, BPO House Director. It is predicted that in the future many more Scandinavian enterprises will obtain accounting managing services in Lithuania.
BPO House creates added – value for Norwegians by organizing work effectively and using their own task management system: both sides follows in real time what tasks are fulfilled at the moment, which and how many are already fulfilled. ”Project with Norway is interesting because of processes’ organization: they are organized as if we would be working in that country and it is a little bit unusual thing. We are intending to improve this process. In the future, there will be even more that kind of projects”, adds A. Kaubrys.
UAB BPO House is a leader in Lithuania in the areas of business process outsourcing. It belongs to the Alna Group, which specializes in IT solutions. Last year BPO House income reached 742 thousand euros.
Alna group operates in the market more than 27 years and has more than 350 qualified specialists. Group owns IT services enterprise “Alna Intelligence”, business management solutions provider “Alna Business Solutions”, custom software solutions provider “Alna Software”, document’s management process provider “DocLogix”, accounting and staff tenancy services provider “BPO House”, recruitment services company “Grafton Recruitment” and Poland companies “Alna Business Solutions” and “BPO House”.
According to the data of the Ministry of Foreign Affairs of Lithuania, in 2014 Norway was rated as the 20th largest foreign partner of Lithuania in terms of trade volumes. Direct foreign investment of Lithuania abroad amounted to 2.21m EUR as of 31 December 2014, in which investment in Norway is estimated at 0.06m.