Finance Experience?

[istvan]

I am experienced in payroll outsourcing projects, does it count as Finance experience? I do not see an industry by the name of "payroll", but it is definitely not IT.

With payroll outsourcing we take over production of pay-slips, salary/wage payments, HR and Financial reporting (such as general ledgers), as well as Statutory reports (tax reports to authorities). We use IT solutions to produce any of the above mentioned products.

In other-words can I say I worked on Financial projects? Of course, I cannot claim Bank, Investment firm, or Insurance company experience. I work for the outsourcing industry.

Any advise is appreciated.

[JoJoGabor]

I am experienced in payroll outsourcing projects, does it count as Finance experience? I do not see an industry by the name of "payroll", but it is definitely not IT.

With payroll outsourcing we take over production of pay-slips, salary/wage payments, HR and Financial reporting (such as general ledgers), as well as Statutory reports (tax reports to authorities). We use IT solutions to produce any of the above mentioned products.

In other-words can I say I worked on Financial projects? Of course, I cannot claim Bank, Investment firm, or Insurance company experience. I work for the outsourcing industry.

Any advise is appreciated.

If a client is asking for relevant business experience they will want somebody from as similar background as possible. Eg if its barclays they may give preference to a Deutsche bank person for example. in this experience you would be way down the list. You can read between the lines to see what they want, its just common sense

[JamJarST]

I am experienced in payroll outsourcing projects, does it count as Finance experience? I do not see an industry by the name of "payroll", but it is definitely not IT.

With payroll outsourcing we take over production of pay-slips, salary/wage payments, HR and Financial reporting (such as general ledgers), as well as Statutory reports (tax reports to authorities). We use IT solutions to produce any of the above mentioned products.

In other-words can I say I worked on Financial projects? Of course, I cannot claim Bank, Investment firm, or Insurance company experience. I work for the outsourcing industry.

Any advise is appreciated.

I am from a finance background and what you have described is definately financial. I am a bit surpriesed that payroll processing includes GL production and I don't think people would expect that. I would be tempted to change the title of what you have from payroll outsourcing to financial process outsourcing or something like that.

[russell]

I am experienced in payroll outsourcing projects, does it count as Finance experience? I do not see an industry by the name of "payroll", but it is definitely not IT.

With payroll outsourcing we take over production of pay-slips, salary/wage payments, HR and Financial reporting (such as general ledgers), as well as Statutory reports (tax reports to authorities). We use IT solutions to produce any of the above mentioned products.

In other-words can I say I worked on Financial projects? Of course, I cannot claim Bank, Investment firm, or Insurance company experience. I work for the outsourcing industry.

Any advise is appreciated.

Finance usually means investment banking, unless it states otherwise.

[JamJarST]

Finance usually means investment banking, unless it states otherwise.

Not in my line of work it doesn't. I am an SAP FI/CO consultant and finance experience means commercial and/or management accounting experience, in other words actual experience as an accountant in a business.

[russell]

Not in my line of work it doesn't. I am an SAP FI/CO consultant and finance experience means commercial and/or management accounting experience, in other words actual experience as an accountant in a business.

Sorry I thought he was talking about IT.

[JamJarST]

Sorry I thought he was talking about IT.

Applications and business systems are still IT.

[istvan]

I am from a finance background and what you have described is definately financial. I am a bit surpriesed that payroll processing includes GL production and I don't think people would expect that. I would be tempted to change the title of what you have from payroll outsourcing to financial process outsourcing or something like that.

The general ledger specifically, as we refer to it, contains salary/wage related costs, health insurance/pension contributions, etc. Pay elements are sorted according to cost centers, departments, etc. and are used to update the accounting/finance department. We provide these reports formatted, such that clients can directly upload them in their internal system whether it is a SAP FI/CO or other system.

I appreciate all your comments and feedback. I enjoy this forum very much, it is very informative.