AmCham
BDO Russia provides accounting, tax compliance, HR and payroll outsourcing services to a number of multinational companies doing business in Russia. We aim to the long-term mutually beneficial cooperation. Please find below brief overview of one of our clients’ business case:
BDO cooperation with GMAC
Valeria Geizerova, chief accountant of GMAC LLC:
“We are satisfied with the cooperation with the outsourcing division of BDO. The company’s employees have experience in cooperation with foreign companies, work effectively and understand the Client’s expectations
GMAC is a global investment company operating on the territory of North and South Americas, Europe and Asian-Pacific region. Today GMAC serves over 15 million clients all around the world. Being a subsidiary of the international automobile concern General Motors, GMAC. provides a wide range of financial, insurance, broker and consulting services to automobile businesses. The history of GMAC in Russia began in 2007 when a decision on registering GMAC LLC was taken.The main activity of the Company is wholesale of vehicles and rendering services in the field of accounts receivable. The first revenue from auto sale and rendering services was in February 2008, the Company had been in the set-up stage up to that moment.
The Company’s chief accountant together with the head office took the decision to outsource payroll and HR administration.
Tasks:
- To free financial people of GMAC from the necessity to control the payroll accounting and HR administration thoroughly
- To provide confidentiality of the payroll data
- To obtain services related to the maintenance of staff records and payroll acounting in the Company in accordance with all requirements of the legislation from a professional provider
- To get qualified consultations on changes in the current legislation
Outsourcing division of BDO:
The key factors for GMAC in choosing BDO outsourcing division as a provider of choice for HR administration and payroll services were as following:
- adequate price to quality ratio,
- BDO International brand,
- BDO clients’ recommendations.
The scope of the services:
- Performing payroll for 30 employees in the Company, including 2 payroll calculations per month, including calculation of bonuses, sick pay, leave pay, compensations, payroll and tax register preparation, preparation and submitting of all necessary reports to the Tax Service, Social Insurance Fund and Pension Fund, as well as preparation of payment documents for transfer of salary and taxes.
- Maintenance of HR records for 30 employees in accordance with the requirements of the Russian labor legislation. Preparation of documents in the Russian and English languages.
- Providing consultations for representatives of the head office on Russian payroll requirements in English.
- Methodological consultations on controversial points of the labor legislation and reflecting the salary expenses in accordance with the requirements of the Tax Code of the Russian Federation.
- As a result of rendering services the circulation of staff documents is systematized, regular control of availability of the required unified forms is performed.
- Internal staff policies were developed and prepared jointly with the head office in two languages.
- Qualified assistance in development of normative documents, as well as in official registration of complex staff matters in the GMAC office was rendered. .
- Confidentiality of GMAC personal data storage and retrieving was provided; it was one of the main conditions of the contract. In order to keep confidential the employees of the outsourcing division of BDO who took part in the GMAC project contacted only one contact person who was the GMAC authorized representative.
Project outcome
As a result of cooperation with outsourcing division of BDO the tasks which have been set by the Client were successfully performed. GMAC recommended the outsourcing division of BDO as a provider to another company of GM group – CMAC Insurance Consortium, cooperation started in 2010.
