IT Services Business Processes, Models and Functions

ii) E-mail and collaborative platform

(iv) Knowledge management
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security and complianee
firms have to observe and enforce several security measures as they deal wi
Services
its clients. The most elementary one is the access control and physical secu
hin the premises of the IT Services delivery centers in addition to the measures
for data
tomer data privacy and compliance with the regulatory provisions. While working
setb ihe global clients these IT Services firms have to observe country specifie
regulations for
wi
th
obtaining w
employces from varnous countries.
Accounting processes
ork permits, VISA, Tax payments for services rendered and service conditions of
Services firms have to run error free and accurate accounting processes to manage
the
IT
financial transactions for their
customers, shareholders and others. For example, customers would ex
billing for the services provided and the vendors would expect to be paid timely.
All this
would require robust accounting processes which can withstand the scrutiny of
statutory audits
from time to time as desired by the statutory laws such as company's act. In
addition, the n
Services firm must closely account for the cost and margins for its services so
that it can remain
competitive and profitable at the same time.
stakeholders that include employees, vendors, business partners
pect accurate and timely
Some of the sub processes of accounting process are as follows:
(i) Customer billing
(ii) Vendor payment
iii Employees salary
(iv) Tax payment
(v) Project accounting
(vi) Services pricing
(vii) Project profitability
Ftnance processes
These processes deal with sourcing and management of funds keeping the strategic
objectives of
the IT Services firm in mind. These processes include how and where the funds for
conducting
the business should be oblained from. The sources of fund could be lon, equity
capital or
investment from venture capital source. This process also makes the profit and loss
statements,
and briefs the board about the financial health of the firm. This process also is
responsible for
working capital, cash requirements and cash flow management. Since most IT Services
firms
also engaged in exporting their services and solutions, a proper management of
foreign exchange
thich keeps fuctuating due to international economy situations) called Forex
Management, is
needed. Finally, the retained income needs to be invested properly to yield
additional income
which is performed by the sub process called Treasury Management
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