Why Foyens
Frequently Asked & Answered Questions
Security Issues | Staff Experience & Expertise | Project Work | Contract Agreements | Pricing | Contact Us
We have listed for you some of our most frequently asked questions. If you have a question that is not listed here, Please feel free to Contact Us anytime.
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SECURITY ISSUES
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| Q | How does Foyens ensure client data is secure, protected, and kept confidential? |
| A | We understand the sensitivity and importance of the security of your data and information. We have set up a reliable information security system with the sole aim of giving you a safe outsourcing experience with maximum benefits. Data confidentiality is maintained through multiple means-physical security, technological initiatives, robust policies and constant monitoring. Various initiatives under security are listed below: |
| Physical Security | |
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| Data Security | |
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| System Security | |
Individual domain accounts for each processor ensure that the access to source documents is restricted to authorized employees only
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| Employee Credibility | |
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| Non Disclosure Agreement | |
| We sign a non-disclosure agreement with the client and a non-disclosure bond with our staff. We know that this is pivotal in reducing outsourcing risks. | |
| Work Station Security | |
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| STAFF EXPERIENCE AND EXPERTISE | |
| Q | What makes Foyens different than its competitors? |
| A | Foyens is a professional services Company that is solely dedicated to providing finance & accounting and related outsourcing services. Our unique capabilities allow for the outsourcing of complex F&A functions. These differentiators include:
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| Q | With which F&A software applications does your team have experience? |
| A | Foyens has direct experience with all the major accounting software packages such as Oracle, SAP, QuickBooks, SAGE, Net Suite etc, and has business partnerships with several SaaS based application vendors to be able to provide clients with turnkey solutions. |
| Q | What is the offshore team's experience with Excel, Word, and PowerPoint? |
| A | The Excel skills in our office are unmatched. Foyens provides extensive in-house training on Excel techniques, and we bring experts from the outside to train our people in related areas such as Visual Basic. Foyens Staff also possess solid Word and PowerPoint skills. |
| Q | How do you ensure employee credibility? |
| A | Employees are recruited into the organization through tested methods of evaluation of capability and integrity. While entering into projects, all the employees who will be involved in the projects are made to sign confidentiality agreements with Foyens. The access to client information is restricted to a limited number of people and a high level security system is employed at their workstations. |
| Q | How do I hire your employee(s) to work on my project? |
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You may hire, on contract basis, an individual employee or a dedicated team of Analyst/Accountant or a combination of employees with different skill sets, to work exclusively on your project. If you are planning to hire an individual employee, we would recommend Full Time Equivalent or FTE arrangement, wherein we have different people working at different times for a collective total time of 160-180 hours a month. In case of larger teams, we recommend dedicated "persons" in order to enable the team to build expertise on your product and business. This will help them to play a pro-active role while working on your projects. |
| Q | What happens if I am unhappy with the progress/ability of the employee(s)? |
| A | We will be directly responsible for the team which is working for you. If you are dissatisfied with the output of the employee(s), we can either modify the process or provide you with a suitable replacement. |
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| PROJECT WORK | |
| Q | How will you handle my project? |
| A | Trial Period: We offer free 60 days trial period at no cost that will minimize your outsourcing risks. With this, you can evaluate our performance and decide whether you want to outsource your entire project to us. Project Transition: We implement a 'Process Knowledge Transfer Methodology' that assures a seamless transition of your project offshore. This will greatly reduce your outsourcing risks. Project Management: You will have a single point of contact who will be responsible for communication and management of every step of the project. Customer Relationship: We take and implement regular feedback of the progress of your project. |
| Q | What is the procedure for initiating a project? |
| A | The primary steps towards initiating any project activity with us would be to contact us via the contact us form provided on the website and to send in your requirement and other required details. Within 24 hours of the same, our sales team will get back to you to confirm the details of your enquiry. From that point onwards, a dedicated team of ours will be in constant contact with you to take our relationship forward, throughout the following phases of developing your project. |
| Q | What information would you require from me? |
| A | It would be great if you could give us a detailed Request For Proposal (RFP). This will help us in analyzing your project and requirement with greater clarity. If you do not have an RFP, kindly give us a rough idea of your requirement and our business analysis team will help you develop the required RFP. |
| Q | How do I send my work to you? |
| A | Most of our projects are web based. Hence, we can communicate and transfer files through the Internet. Kindly send us a brief description or a document about your project requirement, during the initial stages of communication with you regarding your project requirement. If you have an application on which you need us to work on or analyze, we will need to get the corresponding:
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| CONTRACT AGREEMENTS | |
| Q | What service level agreements do you offer? |
| A | Before the commencement of the project, we sign a Services Contract that details the responsibilities of each party, the deliverables, pricing, complaint handling mechanisms and delivery schedule of the project. |
| Q | If I am dissatisfied with the service, how are my interests protected? (E.g. cancellation of agreement, money/time back policies etc...) |
| A | This is covered through clear termination clauses in the contract. However, we try to prevent the advent of any such situation by providing you clear problem escalation routes. You may also bring any issue to the notice of the Operations Manager and/or the CEO for redressal and an appropriate solution will be provided. |
| Q | How do I sign-off a contract or work order? |
| A | All you need to do is complete a given format and fax us a signed copy. You can also send us the work order as an email attachment. |
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| PRICING: | |
| Q | What sort of pricing strategy do you have in place for F &A projects? |
| A | Our pricing model basically differs for each project undertaken based on your requirement. However, the general format for pricing is common and as follows. For your convenience, we offer 3 different types of pricing options:
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| Q | How do I make the payment? |
| A | We will provide you with the invoice details and all necessary information so that you can wire your payment to our bank or by check. For any other mode of payment, please contact our sales people who will help you. |
| Q | Are there any additional costs? |
| A | The only other costs that you would have to bear would be the bank charges that you incur while making the payment, as well as costs of any third party software that you would have us purchase for your clients. We do not charge for the standard tools of our trade such as MS office, QuickBooks, SAP, Oracle, etc. However, if there is any tool that you would have us use for a specific project, we may have to bill you for the same. In such cases, we will discuss with you before implementing such decisions |
| Q | Do you offer any discount for prolonged service? |
| A | Our pricing is based on a long term relationship aimed at giving maximum benefits to our customers. Hence we do not offer any further discount. |
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| CONTACT US | |
| Q | How do I contact you? |
| A | A provision to inquire or to contact us is made available for you at the bottom of this page. Kindly fill up that form and tell us a little about yourself and the project that you have in mind. If you prefer to communicate via e-mail, feel free to contact us at info@foyens.com. You are welcome to contact us at our address given below: Foyens Financial Solutions Pvt. Ltd. #515, 10th Cross, “SLV Kuteeram” Padmanabhanagar, Bangalore – 560070 Karnataka, India Phone: +91-80-26798110 Fax: +91-80-42094162 |
| Q | How do I get started? |
| A | We scope the role or duties required by the client and supply a proposal and price quote within a few days. Upon acceptance, Foyens then helps the client establish IT connectivity for the assigned Foyens staff members and provides contact information (local phone numbers, email, instant messaging) for everyone. The client is also assigned one of our highly experienced Engagement Managers, who has responsibility for client satisfaction, first-tier escalation, mentoring, and other account supervisory duties. Foyens begins work after an initial kick-off meeting. |
| Q | How do I communicate with Foyens staff in India? |
| A | All Foyens staff have client-local, U.S. phone numbers as well as email and instant messaging capabilities. It is no different than talking to client staff members when they are working remotely or just out of the office. |
| Q | How do staff members get access to the client information they need? |
| A | Depending on the client's systems setup, Foyens staff members can securely access required applications via either web-based connections (for SaaS applications), or remote desktop (for server based applications). Support documentation is received through one of several different methods ranging from 100% digital processes established by Foyens or through client scanning. |
| Q | What hours does the offshore team work? |
| A | Standard office hours are from 8:00 AM to 11:30 PM IST. This gives the client the advantage of overnight processing and an entire morning for review and interaction with Foyens staff. Like any other client employee, Foyens staff will work longer when needed and frequently are in the office quite late finishing urgent projects. |
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