Vosfin provides outsourced financial management allowing its clients to focus on their core business by creating additional experienced financial and collections management capacity where the demand does not warrant the full time employment of such expertise.
In today’s challenging and competitive financial services market, companies are often staffed towards the lean end of the spectrum, creating barely enough capacity for “business as usual” let alone additional capacity required from time-to-time for once-off projects driven by changes in the competitive, compliance and technology landscapes. This scarcity of capacity often means that instead of addressing these matters timeously and effectively in such a way that it creates a competitive advantage, they often don’t receive the required attention, which leads to less than optimal solutions and implementations.
This is where having access to additional, experienced skills and capacity for the duration of the project can make all the difference. Vosfin can offer that capacity across a wide spectrum of areas in your business.
Each year when the budgeting process is complete, resolutions are often made that next year it will start earlier, and that the process will be more co-ordinated and structured. Whether it pertains to income budgets or operational and capital expenditure budgets, a lot of the co-ordination and legwork, like model building, can be outsourced. Vosfin can also facilitate focussed sessions during budget preparation time, and assist with cost containment exercises and variance reporting as well as viability studies for new business opportunities.
Companies in the financial services industry often make use of custom built debtors’ management and collections systems. Keeping these systems aligned with changing business and regulatory requirements often puts periodic strain on the capacity in the business and IT environments. Vosfin can assist in addressing this capacity gap by assisting business with tasks like reviewing controls and calculations, to ensure regulatory compliance requirements like In Duplum are met. Vosfin can also assist in reviewing the accuracy of financial calculations, as well as compliance with accounting policies like accruals and revenue suspension.
Detailed knowledge of the software development lifecycle also allows Vosfin to be utilised as the point of contact between business and IT and for ad hoc projects related to process and system enhancements, data integrity audits, system take-on and conversions, as well as system integration and design.
During the course of business there are often those tasks that require dedicated time to complete, but the hustle and bustle of daily operations and full schedules filled with back to back meetings often makes this difficult. Whether this requires conceptualising and building a profitability scorecard for your branch network or a specific department, preparing for the internal or external audit, or reviewing and optimising your debtor and creditor management practises, these are all areas where Vosfin can be of assistance.
Collections is the life blood of any financial services organisation. Non-standard pay cycles like December and Easter can wreak havoc on your company’s collections success rate if not managed properly. Vosfin has a wealth of debit order management expertise to help your company take its collections performance to the next level. You can also benefit from years of experience gained in formulating and implementing collections strategies from early stage collections utilising in-branch, call centre, payroll and 3rd party collections, to late stage collections via outsourced collectors, debt counsellors and administrators.
Vosfin can also assist in enhancing your collection arsenal by implementing effective debtor and staff incentives and the use of mobile platforms.
Management ReportingManagement reportsis a responsibility that often gets lumped with other operational responsibilities and due to its cyclical nature often creates severe capacity constraints for typically one week in a month. Being too closely involved in the production of these reports, often clouds management’s objectivity and judgement when reviewing the reports. Outsourcing the production and eventual automation of the reports to Vosfin, will resolve the capacity constraint, and ensure the objectivity of the reviewer.
Vosfin can also assist with the designing and implementation of reporting frameworks to monitor departmental and company operational and financial performance, condensing these often complex reports into “Call to action” executive level dashboards, and the setting up of exception management reports and related remedial processes.
Our people 
francois@vosfin.co.za 
082 824 1401 
30 Courtney Crescent, Midstream Estate, 1692
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