The company in which I have been working at is considered a corporate outsourcing firm, and over the past few weeks I have been starting to understand what exactly that means. At first I wasn’t entirely sure what Centralis as a firm did, but I have come to learn that they do a little bit of everything for their clients, from treasury, to HR, to Accounting.
One of the main reasons that international companies use the services of the Centralis Dublin office is because Ireland has significantly lower taxes than other countries, especially the United States. This low tax rate attracts many companies from places like the US, to move their headquarters to Ireland to save money. This puts Centralis in a very unique position, because they act as an intermediary between the firms that move their headquarters abroad, while still doing a majority of their business in their home country. This difference in the tax/political environments of countries worldwide is the reason that corporate outsourcing firms like Centralis have become an up and coming industry.
During my first few weeks at Centralis, I have already assisted with a large variety of tasks, from updating financial statements, to organizing board meeting minutes for many different firms. It is very interesting to me that one company is able to handle so many different aspects of business for so many different types of firms/clients. Centralism handles accounts for individuals and large firms, i.e. an international shipping company. I also think it is very interesting that I haven’t heard much in the way of competition for my company. At first I thought that they would loose business to larger financial firms, i.e. KPMG or Deloitte, both of which have Dublin offices, however I have come to learn that Centralis actually works with these firms instead of against them.
Overall my last 2 weeks have been very eye opening, and I can’t wait to learn more about both my company and the corporate outsourcing industry as a whole!