Contract & Procurement - Business outsourcing - Case study 3 Essay

Contract & Procurement - Business outsourcing - Case study 3 - Essay Example We have been considering their revenue and therefore we negotiate with them on the repayment. Our flexibility in terms of interest on loans has also been an admiration to many. Our institution have been offering different interest rate depending on the amount borrowed and the repayment time. The greater the sum borrowed, the less the interest charged. Also, the shorter the repayment time, the less the interest charged. We also offer monetary advice on venturing and savings. These additional services are also important to our customers since some of them may be willing to start a business but lacks the knowledge and how to begin. Our services are, therefore, outstanding, and we are getting new customers every day. We are, therefore, facing some challenges in coping with the ever increasing customers in some areas of operation. The areas include; finance and accounting, investment and management, and procurement (Davis & Heineke, 2009). There are many factors that affect the decision o f a firm to outsource some functions. The table below gives some of these factors. After a careful consideration, the firm management have decided to outsource this sector of operation. Accounting is one of the crucial department in any institution more so a financial institution. We are looking to make sure that our financial operations reach a professional height. The financial companies that are willing to work with us must have a reputable past. The reason is that we want serious company that will take our operations to a notch higher. The following are the requirements for the companies bidding for the post should possess. The company should have a professional human resource department that is approved by the professional accountancy authority in the country. They will, therefore, be a requirement of the approval certificate of the workers in the company. The firm should also be enumerated with the registry of the companies according