BACK OFFICE WORK OUTSOURCING FOR INSOLVENCY PRACTITIONERS
WHAT WE CAN DO FOR YOU?
Since 2020, our back-office has been providing non-customer facing resources for Insolvency Practitioners, and it has proven to be a
logical choice. This approach makes sense because operational tasks in this domain are often process-driven, and they can be considered tedious and time-consuming. Attracting and retaining resources for these tasks at a cost-effective rate can be challenging, making consistency and longevity vital for success.
Our Insolvency Administrative Services team specializes in handling various back-office administrative functions. You have the flexibility
to determine the extent of work you want to outsource to us. Whether you choose to delegate all or only certain aspects of your administrative tasks, we can accommodate your needs.
By subcontracting your work to us, we will ensure that we meet an agreed-upon Service Level Agreement (SLA), guaranteeing that quality work is delivered on time. You can rely on our expertise and efficiency to handle these administrative functions, allowing you to focus on core aspects of your insolvency practice.
REASONS TO SUB-CONTRACT
- Time to focus on core business
- Reduce costs and time for both, recruitment and training
- Reliability. Working to your Specifications and delivered on time
- Control on overheads and variable costs
- Reduce outlay on capital expenditure
- Business growth through client acquisition
- Existing team aligned to client centric functions
- Foster innovation
- Increase profitability
- Seamless scalability
INSOLVENCY PROCEDURES
- Member’s Voluntary Liquidation
- Creditors’ Voluntary Liquidation
- Individual Voluntary Arrangement
- Company Voluntary Arrangement
- Individual Insolvency
- Compulsory Winding Up Order
- Pre-Liquidation Procedures
BACK OFFICE WORK
Our experienced back office team is capable of handling various non-core office administration tasks, utilizing your templates and
workflow processes. Here are some examples of the tasks we can assist you with:
Search Company’s Information etc.
We can search for company information on the Companies House portal, gathering details about shareholders and directors. We can compile documentation such as accounts, annual returns/confirmation statements, incorporation certificates, etc. Additionally, we can review articles and obtain information on distributions, short notice, and conduct further searches via the Land Registry or online platforms as required by the case.
Update and prepare General Meeting Letters.
We can update and prepare general meeting letters for the company’s directors and shareholders. These letters can include minutes of
director’s meetings, declarations of solvency, notices of general meetings, minutes of general meetings, deeds of distribution, and more.
Update and prepare Initial Letters etc.
We can update and prepare initial letters that involve distribution letters to members, advertising notices, tax clearance letters to
HMRC, letters to debtors, and other relevant correspondences.
Update and prepare Case Reviews.
Our team can prepare case reviews on a quarterly, half-yearly, or annual basis. These case reviews provide an overview of the case’s status, including explanations to prevent the case from being closed.
VAT, PAYE, and CT Refund Distribution Letters.
We can manage the preparation and distribution of letters to members regarding VAT, PAYE, and CT refunds from HMRC. Our team is experienced in handling all correspondence with HM Revenue and Customs.
Drafting Annual Reports.
If a case exceeds one year, we can assist in drafting an annual report for the company. This report will contain details about the
company, remuneration of the liquidators, case status, work done by the insolvency practitioner, and other relevant information.
Prepare Draft Final Accounts.
Once all necessary tax clearances and refunds are received from HMRC, we can prepare draft final accounts for the closure of the case.
Miscellaneous Work or Any other Draft / Documents Preparation.
Our multi-skilled team can handle the preparation of various documents or reports as per your requirements. Additionally, if you are
utilizing any case management software, our team can update and maintain the system as needed.
We can also analyze all bank statements of related parties over the previous five years to identify preferences. This includes preparing
comprehensive working schedules to identify preferences and indicative director’s current accounts.
BENEFITS
1. Human Resources : As the talent pool becomes increasingly limited, Proventus can provide reliable and experienced resources on a just-in-time basis or for long-term engagements. This ensures that you have the necessary personnel to support your operations effectively.
2. Accurate and Timely Delivery : Our highly efficient and experienced team is dedicated to delivering back-office functions with accuracy and timeliness. We work according to your specified timelines and standards, providing you with the confidence that tasks will be completed on schedule.
3. Customer Service : By partnering with Proventus, you gain a valuable resource: time. Our professional team takes care of your back-office tasks, allowing you to focus on your core competencies and higher-value-added activities, such as working directly with your clients. This enhances your ability to provide excellent customer service.
4. Cost Effective : In addition to streamlining your operations, outsourcing your back-office functions to Proventus leads to significant cost reductions. This increased cost-efficiency translates into greater profitability for your business. By leveraging our expertise and resources, you can achieve greater financial efficiencies while maintaining the quality of your services.