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Certified Financial Process Associate/professional-certifications/certified-financial-process-associate

CFPA™ Program

CFPA™ is an industry-leading certification for professionals in F&A domain. It is the most powerful assurance for shared services centers, banks, F&A BPO companies and accounts departments of large organizations about your fitness for handling accounting and basic finance tasks including processing of bills receivables and payables; posting of entries; preparation of ledgers and statements of accounts and reconciliation etc.

CFPA™ certified professionals have proven knowledge and competence to function in multiple roles including handling of customer accounts; reconciliation; order management; vendor payments; invoice processing etc., across a whole range of organizations, but especially suited for more organized providers of finance and accounting services to their clients in the outsourced mode.

CFPA™ becomes the world’s most comprehensive accounts processing qualification because of its rigorous inclusion of all possible knowledge and competence aspects: finance and accounting principles; use of IT and software in accounts management; common F&A processes like P2P; O2C and R2R; keyboarding; computer operations; language & communication and role awareness.

CFPA™ is awarded to individuals who successfully complete the requirements for this qualification as prescribed by the BPO Professional Certification Board (BPCB). These requirements primarily include qualifying the online CFPA™ examinations organized worldwide in various authorized BCI centers on dates specified in the BCI assessments calendar.

Preparation for CFPA™ examinations can either be done through self-study, or by training with any of the authorized BCI training providers including the BPO & IT Training‎ Academies and International Centers for Outsourcing Studies in universities operating in various countries.

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CFPA

CFPA™ EXAM FEE:

$ 380 USD

Who Should Get CFPA™ Certified?

The CFPA™ Credential is globally considered a mandatory certification for all career aspirants in the high paying Financial and Accounting Services Domain.

Over several years, it has been noted that individuals who have derived the maximum benefits from this prestigious certification for launching and getting ahead in their finance and accounting careers comprise:

  • Senior/High School Graduates with a flair for numbers and mathematics and a background in Accounts, who want to pursue a fast growth career in accounting

  • Undergraduates and Bachelor Degree holders who want to build a successful career in Accounting and Finance

  • University Students and Graduating College Students aspiring to pursue a career in finance and accounting

  • Accounting professionals currently employed in small companies seeking employment in a larger corporation

  • Professionals already working in accounts processing job roles or sales accounting departments in small organizations, banks or various government departments, who are interested in an international qualification in the F&A BPO service delivery function to further grow in their careers.

Career Outlook

What Jobs can CFPA™ prepare you for?

The following industry and job role demands having a CFPA™ certification

  • Frontline associates/ agents in Finance & Accounting BPO companies

  • Accounts Assistants in Accounting departments of all types of organizations

  • Entry-level executives/ representatives in banks

CFPA Graph Registrant Jobs
Graph Jobs

CFPA™ Benefits


Global Recognition

Over several years, the CFPA™ has emerged as the world’s most coveted international qualification for BPO professionals working in the F&A domain. Besides the world’s largest BPO organizations, almost all other types of large companies that have well-developed systems and internal processes give preference to hiring globally qualified CFPA™ credential holders, who possess the necessary skills and expertise to efficiently use software and technology to handle enterprise-critical finance and accounts functions much more effectively than their peers.

Having a CFPA™ qualification puts the designation holder in the elite worldwide community of successful young and world-class finance and accounting professionals.


Career Advantage

For an aspiring Finance and Accounts Professional, the CFPA™ credential is the door to the elite worldwide community of BCI alumni – a part of the eminent and prestigious BCI talent pool of successful professionals. CFPA™ professionals enjoy the benefits of a head start in their careers right at the outset, even as they progress more rapidly than their peers towards pay raises and promotions in their organizations. This is propelled by their massively superior readiness for advanced finance and accounting functions anywhere in the world, and in organizations of any size.

A CFPA™ professional merges effortlessly into ready business workflows right from the first day thanks to the most thorough, carefully structured and rigorous skills and aptitude development curriculum in the world related to finance and accounts processing, validated by the prestigious CFPA™ credential. Practical, real world exposure into the functioning and technology and systems worldwide provide further advantages. For those about to start their careers, this helps get the first dream job faster, and for existing professionals, it’s a move towards that first pay raise and promotion as well.


Employer Benefits

Professionals with the globally recognized CFPA™ qualifications prove to be valuable assets for the companies they are working for. Not only do they provide a superlative benchmark for performance, productivity and service quality, they also create an efficient and positive work culture environment at the workplace.

Become A CFPA™ Certificant

The entire procedure of obtaining the prestigious CFPA™ qualification is a simple process, comprising five easy and convenient stages:

  • Choosing your nearest BCI Authorized Training Provider/International Center for Outsourcing Studies/ICT Learning Centers in your region.

    Please note that you can register for the CFPA™ only at the above mentioned partner locations.

  • Registering for the CFPA™

    Registrants are required to contact the Center Manager/Official In Charge at the BCI Partner Institution at the selected center.

  • Training and Preparing for the CFPA™ Certification Assessments

    Upon successful completion and approval of your registration with BCI for the CFPA™, you will be enrolled by the Head of Training at your chosen center for one of their current batches. The training center will prescribe the CFPA™ pre-certification training/preparation that you are then required to complete.

    Upon successful completion of the training/assessment preparation, you will be assigned Preparation Completion Credits (PCC) which will entitle you to take the final CFPA™ certification assessment at your selected BCI Authorized Assessment Centers.

  • Undertaking the Final CFPA™ Certification Assessment

    The next step in the process is to undertake the final CFPA™ certification assessment examination. The certification exam can be typically taken after three months of registration, and not later than 1 year from the date of registration.

  • CFPA™ Credential Award

    Congratulations! You have reached the final stage. Upon successfully qualifying in the CFPA™ final assessment examination, the internationally recognized CFPA™ credential will be awarded to you. This will also include a CFPA™ Credential Pack that you will receive within 30-45 days of the final assessment results being declared.

CFPA™ Candidacy Requirements

The CFPA™ candidacy requirements are the directives that outline the foundation for pre-qualifying for any particular BCI certification. The Candidacy Requirements for the CFPA™ credential are detailed hereunder:

Educational Requirements

Educational requirements are one of the three primary areas of the candidacy requirements for the CFPA™. A candidate can apply for the CFPA™ if he/she has a formal education in computers and accounts. In addition to this, a candidate must have qualified past at least O-Level/A-Level/Higher Secondary/12th Grade – having completed 14 years of formal education.

Over several years and across geographies, however, it has been seen that diploma-holders and undergraduate degree holders, specifically, leverage the maximum benefits in their financial process management careers, upon successful completion of the CFPA™, as compared to others. This phenomenon has been noted especially in Asian and African countries.

Professional/Work Requirements

There is no pre-qualifying work experience requirement for applicants who aspire to be a CFPA™. Individuals with the pre-requisite education background and ZERO work experience can apply to become a CFPA™ credentialed professional.

It has been noted, however, that professionals who have some duration of work experience behind them at the time of earning their CFPA™ certification have leveraged maximum benefits from the globally renowned CFPA™ credential.

Age

A CFPA™ registrant is required to be 18 years of age and above, at the time of application/registration for the credential. However, there is no upper age bar for any BCI certification program.

CCIP

CFPA™ Exam

The BPO Professional Certifications Board (BPCB) mandates that individuals desirous of acquiring a BCI certifications require to qualify computer–based exams based on the BCI standards framework. All BCI Exams are computer–based tests timed between 120 - 150 minutes. Applicants registered in BCI certification program enjoy the convenience of scheduling and taking their certification exams online. Partner companies, organizations and universities establish their own BCI-approved exam centers connected to the BCI online examination system Credent. In many global locations, certification testing leader ExamStrong™ manages BCI exams offering registrants the facility to take their BCI exams even at home or in office.

CFPA™ Assessment Snapshots


Based on the updated Knowledge & Competence Pre-requisites under HCMS21 Release 9.14.

Examination Code: CDO-001
Duration: 90 minutes
Mode: Online
No. of Questions: 75
Type of Questions: Objective
Passing Marks: 70%
Fee: 380USD
Validity: 1 Year
Renewal: Available
Upgrade: Available

CFPA™ Training and Preparation Completion Requirements

Training and Preparations

Professionals wanting to register for the CFPA™ credentials undergo the prescribed training program with BCI Authorized Training Providers for their pre-certifications assessments and examinations. BCI’s network of training providers are present in several countries across the world and includes several training organizations with a long standing industry experience, BCI Partner Universities and Learning Centers. The training and education provided meets the specifications of the worldwide HCMS21 standards of the BCI. Additionally, several governments in various nations also conduct special CFPA™ training programs as a part of their BPO workforce development schemes in their respective centers of vocational training. Registrants of the CFPA™ program are connected to their nearest BCI Authorized Training Partner in their region.

In case of registrants who are currently pursuing their education at a BCI Partner University, are automatically registered in their university’s ICOS™ (International Center for Outsourcing Studies). All CFPA™ registrants are provided complete support throughout their registration and training period through the Official Learning Material available at the BCI Authorized Training Partner.

Preparation Completion Credits

Eligibility for the internationally recognized CFPA™ certification requires a professional to collect a pre-specified minimum number of Preparation Completion Credits (PCCs) upon attending formal training sessions for a prescribed number of hours with any BCI Authorized Training Providers worldwide. The PCC accumulation activity for registrants is completely managed by the BCI Authorized Training Providers who prepare the registrant for the final assessment.

Every registrant’s PCC records are announced on the respective registrant’s management portal several days before the date of their final CFPA™ assessment test.

BCI Authorized Training Providers, International Centers for Outsourcing Studies and ICT Learning Centers functioning in Universities and Institutions are required to assign PCCs to their respective CFPA™ registrants.

Individuals who are registered under Government CFPA™ programs, or under special projects or schemes are, however, required to follow the training guidelines as per their respective government’s directives.

CFPA™ Critical Areas of Professional Knowledge & Competence

Areas of Knowledge & Competence Pre-requisites for Finance & Accounting Associates at the entry-level as prescribed under HCMS21 Release 9.14, 2019.

Code Assessment Component
A1 CFPA™ Domain Knowledge
1. Nature & Typology of BPO Services

Concept and advantages of Business Process Outsourcing, Categories and Types of BPO Organizations and BPO services.

2. BPO Operations & Work Environment

Organization & Workplace Structures in BPO Organizations, Equipment & Technologies generally deployed in BPO Organizations, Common Modes and Media of Service Delivery in BPO Organizations.

3. Personal Effectiveness Principles & Techniques

Challenges & Demands of BPO Work Environment, Creating & Managing Personal Brand-Equity in Workplace, Managing Personal Time, Managing Stress, Managing Professional Growth.

4. Role-profile of a Finance & Accounting Services Associate

Typical Key Result Areas (KRAs) of an F&A Services Professional, Skills & Competencies of an F&A Services Professional

5. Finance & Accounting Processing Tasks & Activities

Fundamentals of contemporary Finance & Accounting BPO domain, Basic Concepts, Principles & Techniques in Contemporary Finance & Accounts, Knowledge about Commonly Outsourced Finance & Accounting Tasks and Activities

Code Assessment Component
A2 Keyboarding Skills
1. Keyboarding Speed & Accuracy in English Language
A3 Computing & Internet-related Operations
1. Proficiency in basic PC-Based computing applications
2. Internet Operations
A4 Language Structure, Vocabulary & Comprehension
1. Correct usage of Grammar & Structure
2. Vocabulary
3. Listening Comprehension
A5 Verbal Language Skills
1. Voice & Speech Quality
2. Accent & Pronunciation

CFPA™ Assessment Structure & Plan

As prescribed under the guidelines of HCMS21 Release 9.14, 2019.

Constituents of the CFPA Assessment Policy for first time BCI Registrants:
Assessment Category Final Assessment Component Maximum Marks
A1 CPFA‌™ Domain Knowledge Assessment 300
A2 Keyboarding Skills Assessment 100
A3 Computing Skills 100
A4 Language Structure, Vocabulary & Comprehension 100
TOTAL 600
Important Note:
  1. The CFPA™ Online examination seeks to evaluate an examinee’s knowledge about the Finance & Accounting domain.

  2. To complete their eligibility for CFPA™ Award consideration by BCI, all CFPA™ registrants have to take all required tests and assessments.

  3. Keyboarding & PC Skills tests/assessments may be conducted in offline mode in some locations.

CFPA™ Domain Knowledge Examination Weights
Areas of Professional Knowledge to be Assessed Proportional Weightage in Exam (in %)
Understanding of the Concept, Nature & Typology of BPO Services 10
Understanding of BPO Operations & Work Environment 10
Understanding of Personal Effectiveness Principles & Techniques 20
Knowledge about Finance & Accounting Processing Tasks & Activities 60
TOTAL 100

CFPA™ Certification Validity

The CFPA™ credential has a validity period of three years from the date of being awarded. BCI strongly recommends all CFPA™ certification holders to upgrade to the next level of professional proficiency (CFPS™) upon the completion of the first year of their CFPA™ credential. The aptitude and skill requirements for advanced professionals in the technical support domain are constantly evolving, given the rapid-development nature of the BPO industry, and the BCI standards of professional excellence evolve with them at an equal pace. Therefore, a well-timed upgrade to the CFPS™ ensures that the high professional standards and commitment demonstrated by a CFPA™ credential is maintained.

Please note that the upgrade to the next level (CTSS™) becomes mandatory once the initial validity of the CFPA™ certification has expired. (Please verify the validity period and expiry date details of your certification in your CFPA™ Credential documents).

The Digitally Badged CFPA™

The CFPA™ is a global credential because of the digital badge it carries with itself. The digitalization of the program makes it viable to share your credential with your current and prospective employer’s colleagues in a jiffy. A digitally-badged CFPA™ adds that strong dash of credibility to your online professional presence.

It can be easily used in various social and digital platforms to enhance your professional value and showcase your achievement and capabilities. It's your most secure, reliable and authentic token of your promise, potential, and capabilities for performing your talent management roles with excellence.

The CFPA™ digital badge is a verifiable digital token of your BCI qualification containing within it a secure digital link to the BCI cloud as well.

Digitally Badge
How Does CFPA Work

How Does CFPA™ Work?

The CFPA™ credential covers every possible facet of The Finance Process job role at the Associate Level in companies across the world. These include:

  • Knowledge of the functioning of Common Computer Hardware, Software and Appliances, including methods and principles of troubleshooting
  • All aspects related to team-playing, workplace effectiveness, communication and professional etiquette

BCI Authorized Training Partners offer pre-certification training in these skill areas to enable applicants to prepare themselves for technical support jobs alongside their preparation for the CFPA™ certification examination.

While practical work experience remains unmatchable, the knowledge, skills and expertise gained and assessed during the CFPA™ examinations are generally considered equivalent to financial process professionals who have worked at least for 6 months in such functions or roles.

Credential Case

The CFPA™ Credential Case

Passing/ qualifying the CFPA™ certification exam leads to the award of the CFPA™ designation and credential. The CFPA award is given away in a fine-crafted credential case that contains a hologrammed print copy of the credential-certificate, a lapel pin, and a BCI ethics code booklet.

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