Case Studies

Qualys - Using a BPO Model for On-Time and Compliant Multi-Country Accounting and HR

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The Qualys Cloud Platform and its integrated suite of solutions provide organizations with a global view of their security and compliance while drastically reducing their costs of ownership. Qualys has more than 8,800 customers in over 100 countries. Founded in 1999, it is based in Redwood City, California.

Qualys looked to Radius for reliable advice and finance and accounting services in over 20 jurisdictions. These jurisdictions included notably challenging countries such as Brazil, a Latin American hub for Qualys. Brazil has unique and often cumbersome regulatory requirements that highlight the difficulties of maintaining multinational operations.

The Challenge: 

Preparing accurate, timely financial reports for multiple overseas operations: Qualys has presences in over 25 countries, each with unique ongoing filing requirements and deadlines. The company needed to prepare management accounts for all operations and file financial statements for several jurisdictions while keeping track of any regulatory changes.
    
Complying with employer obligations in each country of operation: Qualys employs workers in multiple countries and needed to ensure it provided benefits and compensation in accordance with the constantly evolving laws and customs of each jurisdiction.

Operating efficiently and legally in Brazil: Qualys needed to follow Brazil’s complicated labor laws when hiring and terminating employees in that country, which has one of the most challenging and cumbersome regulatory environments in the world.

The Solution: 
  • Appointed a Client Services Director to coordinate all of Qualys’ accounting, compliance and advisory deliverables and act as a primary point of contact for Qualys’ finance and HR teams.
  • Assigned a Radius Executive Sponsor to help develop and implement client strategies and continuously promote client satisfaction.
  • Dedicated a Radius accounting team to Qualys under a BPO model to ensure that financial statements from each country of operation are delivered to Qualys’ HQ accurately, consistently and on time each month.
  • Transitioned finance and accounting work previously performed by third parties scattered across the globe to Radius’ Center of Excellence in Mumbai, increasing efficiencies, quality, consistency and on-time delivery of financial statements, corporate tax filings, bank account entries and other deliverables.
  • Provided authoritative advice on employer obligations and best practices in multiple countries, including making recommendations on employment contracts, terminations and benefits.
  • Assigned a team of local experts in Radius’ Brazil office to ensure Qualys adhered to Brazil’s complex labor laws, including those related to new hires and terminations.
  • Dedicated a Compliance Director to Qualys to proactively manage their multinational compliance footprint.
The Outcome: 
  • Reduced compliance risks and administrative burdens by assigning a permanent team of Radius accountants under a BPO model; the team ensures accurate, timely delivery of monthly financial reports from multiple countries.
  • Promoted accountability, transparency and control over international operations by assigning a single, trusted Client Services Director to oversee all service and advisory deliverables.
  • Supported client satisfaction by appointing a Radius Executive Sponsor who participates in regular reviews and continuously updates internal practices to meet client needs.
  • Enhanced local-employer status and employee engagement by providing authoritative advice on HR obligations and best practices across jurisdictions, including the challenging Brazil market.