The CFPS™ Certification is a globally preferred certification for professionals handling more advanced accounting tasks in banks, F&A BPO companies and accounts departments of large organizations.
CFPS™ certified professionals are respected by employers across the world for their high levels of performance-critical knowledge and competence required for handling complex service delivery roles in important horizontals like accounts reconciliation; receivables management; payables management; accounting reportage; financial records keeping etc. Successful completion of the CFPS™ program leads to the award of the CFPS™ credential and a permission to use the CFPS™ designation.
CFPS™ is awarded to individuals who successfully complete the requirements as prescribed by the BPO Professional Certification Board (BPCB). These requirements primarily include submissions of proofs of competence accumulated through formal learning and past work and/or qualifying the online CFPS™ examinations.
Preparation for CFPS™ examinations can be done by applicants either through self-study, or by training with any of the authorized BCI Training Providers, including independent BPO/IT training academies, as well as International Centers for Outsourcing Studies in universities operating in various countries.
Pre-registered applicants need not apply again.
Their applications are lining up for necessary action.
For all F&A professionals around the world who wish to advance their careers in finance & accounting BPO space or in accounting departments of banks and other organizations with robust technical expertise, comprehensive knowledge, and talent standards of the industry- CFPS™ certification is an unprecedented international qualification which helps them in:
Joining forces with the best-in-class employers but are currently working with small organizations in the responsibilities of accounting agents, executives, representatives, or F&A agents at workplaces like small BPO companies, collection centers and similar organizations offering accounts processing services to the clients.
Advancing into greater responsibilities of officers or executives in the accounts departments of large companies or who want to now work in F&A BPO organizations from small offices where they used to work as accounting executives.
Achieving international qualification in finance & accounts processing. The international recognizance of the certification truly helps the professionals already working as F&A agents in BPOs or in the accounts offices of companies, banks or governments.
Frontline associates/ agents in Finance & Accounting BPO companies
Accounts Assistants in Accounting departments of all types of organizations
Entry-level executives/ representatives in banks
CFPS™ certification is the most established and preferred global qualification for professionals and executives who are in the roles and responsibilities which deal with processing of documents, data, and information on finance and accounts. The certification has come to play a part the consequences of which are transforming the face of the finance & accounting BPO organizations. It has achieved a status which reflects and projects the confidence of companies and government organizations as they work with CFPS™ professionals– who are greatly adept at technical expertise and subject matter knowledge.
The CFPS™ certification spells advantages which set the certified professionals in the best-in-class world pool of BPO professionals. CFPS™ qualified professionals enjoy the international recognizance due to the unique combination of efficient systems and homogenous and consistent service delivery and that is the reason they become globally mobile resources with high salaries and perks.
Thanks to the advanced and expansive outlook guaranteed by the CFPS™ exposure, experience, and success in the management of most difficult problems associated with accounts processing tasks involving technology and process knowledge with a broad range of solutions. CFPS™ professionals manage to leverage best practices learned in the coursework for the excellence consciousness and delivery in their jobs in large organizations.
The employers worldwide employ CFPS™ qualified professionals not only because they have in their portfolio, one of the best credential of their capability-validation but also because of the performance, productivity, and service quality they bring in their work and the new professional energy that is assured to convert the work culture and environment global.
CFPS™ qualified individuals are deployed almost immediately on new processes and are immersed quickly in new horizontals and client verticals. They don’t require a long time to get used to the work experience and organizational culture before they start to provide the expected work-performance even in the most complex processes, horizontals, and verticals.
I am a CFPA™ how to become a CFPS™?
The upgrade is easy. 6 months after achieving the CFPS™ Certification, an individual can upgrade to CFPS™- Certified Financial Process Specialist. As the CFPA™ credential is valid and most relevant in the first year of an agent’s career and CFPS™ suits the individual professionals in their career growth mostly from the second year onwards, most of the CFPA™ certified individuals prefer upgrading to CFPS™ rather than the recertification. BCI and other BCI partners take the responsibility to send frequent reminder emails and there are mentioned links which can be clicked on for further information. There’s another option of logging into the BCI account for the CFPS™ upgrade.
When can you Upgrade to CFPS™ from CFPA™?
After 6 months of the awarding of the CFPS™ certification, CFPS™ upgrade certification can be applied for. Instead of CFPS™ recertification, most of the CFPS™ certified individuals prefer upgrading to CFPS™ when 2 months of CFPS™ expiration date is still remaining. There are various upgrade offers and schemes that are frequently sent through emails by the BCI which benefits saving on upgrade voucher costs.
A second CFPA™ recertification is not allowed by the BCI and in case an individual has already achieved the CFPA™ recertification, then CFPS™ is the only option. If BCI does not receive the upgrade application within two weeks of the time period before the CFPA™ certification expires, the upgrade request is processed as a fresh CFPS™ application with the full CFPS™ application fee.
Upgrading from CFPA™ is simple:
I have no other BCI Certification; how can I become a CFPS™?
The CFPS™ qualification for a new applicant is a simple 5-step process:
One becomes a primary user member by simply applying for the preferred certification on the BCI website and an application process email with the link for registration portal is sent to them for further procedure.
Register and pay for the procedure according to the registration process email/communication received in step 1.
BCI does not make mandatory any training requirements for CFPS™ certification. BCI offers the option of self-study in many countries while in many others the applicants are referred to train with the nearest BCI Authorized Training Provider. The applicant is kept duly informed about different options through the BCI emails received which mentions the registration confirmation information.
The CFPS™ examination can be taken according to the scheduled date and time anywhere between the time duration of a minimum 15 days after the registration and maximum within 1 year from the date of registration. Apart from the online examination- some assignments and documentary submissions have to be completed.
Qualify all prescribed BCI norms on Knowledge and Competence Prerequisites and complete your submissions to become eligible for the CFPS™ credential award. The CFPS™ Credential Pack can be expected to reach within 30-45 days from the declaration date of the award decision.
An applicant is considered fit and competent to apply for a particular BCI certification based on the candidacy requirement parameters defined by BCI. The candidacy requirement parameters vary across certifications.
CFPS™ applicants must have a decent exposure to computer use and must be in possession of at least 14 years of formal education at the application time with minimum 1 year of accounting coursework. Many CFPS™ applicants worldwide complete their A-Level/O-Level/Higher Secondary/12th-grade certification before completing the CFPS™ certification. Asian and African countries have many applicants who have an undergraduate degree or just graduated out of the university and have proven to be better prepared for leveraging their CFPS™ qualification compared to their counterparts who still haven’t completed their university or college.
A minimum of 6 months of work experience is mandated by BCI which must be in positions related to the common accounts-related documentation, record keeping, data processing, and in F&A BPO companies.
Such applicants are prescribed to have a work experience of minimum 18 months. This experience must be in the associate level positions with the responsibilities of common accounts-related documentation, data processing, record keeping in the accounts departments of reputed organizations such as banking, retailing, telecommunications, insurance, hospitality, transportation information technology, travel, and public utility services.
Such applicants are prescribed to have a work experience of minimum 6 months. This experience must be in the positions of agents, associates or representatives in reputed finance & accounting BPO organizations.
Such applicants are prescribed to have a work experience of minimum 3 months. This experience must in the positions of agents, associates or representatives in reputed finance & accounting BPO organizations.
An applicant should have completed 18 years of age ideally at the time of CFPS™ application. There is no upper age bar for any BCI certification program.
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.
(Soon also in: French, Spanish, Chinese & Arabic)
|Assessment Component||No. of Questions||Length of Test|
|CFPS™ Domain Knowledge Assessment||75||90 Minutes|
|Referee Feedback Reports||-||-|
BCI mandates no training specifications as the minimum eligibility for appearing in the CFPS™ certification examinations. But if the applicants prefer some sort of training to prepare for the examination, they can register for external training/Master Class with an authorized BCI Training provider nearest to them upon the additional fee payment to the training company. But as not all locations have training facilities readily available, the applicants are advised to keep communication channels open with BCI for accurate information on the matter. The authorized BCI training provider nearest to the applicants is located and CFPS™ applicants who opt for training are automatically directed to it.
CFPS™ registrants in many countries prepare on their own for the examinations with the help of BCI partner provided online resources and printed reading material. BCI is making serious efforts for the introduction of Self-Learning programs for worldwide CFPS™ aspirants.
|A1||CFPS™ Domain Knowledge|
1. Trends & Developments in Business Process Outsourcing
Trends in Business Process Outsourcing, Developments in Business Process Outsourcing.
2. Principles & Techniques of Professional Effectiveness Enhancement
Increasing Professional Effectiveness Through Personal Image & Brand, Enhancing Productivity through Effective Time management, Enhancing Professional Effectiveness Through Performance Planning, Managing Interpersonal Relationships & Conflicts, Increasing Professional Performance through Effective Stress Management, Managing Personal & Professional Growth.
3. Knowledge about Finance & Accounting Processing Tasks & Activities
Contemporary Finance & Accounting BPO domain, Underlying Principles & Techniques of Contemporary Finance & Accounts, Knowledge about Commonly Outsourced Finance & Accounting Tasks and Activities, Metrics in Finance & Accounting Services Delivery.
As prescribed under HCMS21 Release 9.14, 2019.
|Assessment Category||Final Assessment Component||Maximum Marks|
|A1||CFPS™ Domain Knowledge Assessment||300|
|R1||Referee Feedback Reports||200|
The CFPS™ Online examination seeks to evaluate an examinee’s knowledge about the Finance & Accounting domain.
To complete their eligibility for CFPS™ Award consideration by BCI, all CFPS™ registrants have to furnish Referee Reports.
Referee Reports are feedbacks from the Registrant’s senior/supervisor/managers on areas like Registrant’s work performance, professional competence and ethics.
Referee Reports are to be filled-in online on the BCI Assessment portal by Registrant’s superiors as mentioned above. The registrant shall be given a portal link which (s)he has to share with her/his referees. The referees will then go online on this link and fill-in the Report and submit.
|Areas of Professional Knowledge to be Assessed||Proportional Weightage in Exam (in %)|
|Trends and Developments in Business Process Outsourcing||20|
|Principles & Techniques of Professional Effectiveness Enhancement||30|
|Knowledge about Finance & Accounting Processing Tasks & Activities||50|
The CFPS™ certification is valid from the date of award to exactly for three years after that. The validity remains for three years due to the reason of continuous changing nature of the BPO industry which causes the knowledge and skill requirements to evolve with advancements in the technology standards at the level of F&A services professional. With the technological advancements, advance the BCI standards that make recertification or upgrade to the new level mandatory for CFPS™ certified individuals to stay up-to-date in their profession.
Thorough knowledge on new capabilities in contemporary accounting practices related to receivables and payables management, accounting information processing, financial statements preparation, and even basic accounting analysis are covered under the giant umbrella of CFPS™ certification.
Modern specifications like team-playing, peer-group leadership, conflict management, professional effectiveness communication, and professional etiquette are also stressed under the curriculum of the CFPS™ certification. Even though a practical work experience is irreplaceable, the knowledge standards and technical expertise assessed during the CFPS™ examinations make the CFPS™ certified individuals at par with Finance & Accounting professionals who have 1 year of work experience in the same functionalities, positions or roles. If you have an active and valid CFPA™ certification, you are exempted from CFPS™ certification examinations.
BCI mandates no training specifications as the minimum eligibility for appearing in the CFPS™ certification examinations. But if the applicants prefer some sort of training to prepare for the examination, they can register for external training/Master Class with an authorized BCI Training provider nearest to them upon the additional fee payment to the training company. But as not all locations have training facilities readily available, the applicants are advised to keep communication channels open with BCI for accurate information on the matter. The authorized BCI training provider nearest to the applicants is located and CFPS™ applicants who opt for training are automatically directed to it. CFPS™ registrants in many countries prepare on their own for the examinations with the help of an authorized BCI partner provided online resources and printed reading material. BCI is making serious efforts for the introduction of Self-Learning programs for worldwide CFPS™ aspirants.
3 years is the maximum validity of the CFPS™ certification and to continue using the designation and advantages of the qualification, recertification is mandatory. The implication of the recertification is to make the CFPS™ credential valid again before it reaches its expiration date in 3 years which is a convenient step by step procedure. To add to that, BCI and other BCI partners send frequent reminder email communications which comprise of clickable links or one can log into the BCI account anytime as per the convenience to register for CFPS™ recertification. It is to be noted that BCI does not mandate training to be one of the sole criteria for recertification but what is mandatory is the processes of registration and documentary formalities. Work experience is another criterion which has some specifications listed out by BCI such as to take the CFPS™ recertification examination if not working for more than last three months at the time of recertification application.
An unlimited number of recertification chances are provided by the BCI for CFPS™ certification for the convenience of the individuals. Besides, the CFPS™ qualification loses its validity only if it has not been made valid once in three years. Upgrading to the Team Lead certification – the CBTS™- Certified BPO Team-Lead Specialist certification is another option that can be considered after two years of the CFPS™ award. One receives frequent reminders through email communications from BCI and other BCI partners related to this information along with exciting upgrade offers which you be availed for fee discounts.
Apply for recertification at least 8 weeks prior to the CFPS™ certification expiry date which is also mentioned on the CFPS™ certification related to which BCI sends frequent reminder emails. Two weeks before the certification expires, BCI must have received the CFPS™ recertification application after which- the recertification request is processed as a fresh CFPS™ application only on the payment of applicable full CFPS™ fee.
Recertification for CFPS™ is a simple 3-step process:
A minimum 24 months after the CFPS™ certification achievement, upgrade to the specialist level BCI qualification the CBTS™ - Certified BPO Team-Lead Specialist- which further helps in accomplishing superior positions in the global BPO arena. After their first recertification, a major share of CFPS™ certified individuals in Asia upgrade to CBTS™ instead of recertifying for the second time. CBTS™ begins benefitting the individual professionals more from the third year of career. Many CFPS™ certified individuals prefer to do both- CFPS™ recertification to keep valid the qualification as well as the upgrade to CBTS™ for the preparation of superior roles and positions possibilities. For the individuals who wish to do both, BCI partners provide interesting offers which are sent through emails and texts.
As there are frequent reminder email communications sent by BCI and other BCI partners, upgrading is easy. With just a click on the links provided in the emails or logging into the BCI account, on can easily register for the CBTS™ upgrade.
Exactly 24 months after the CFPS™ credential award, an individual can apply for the CBTS™ upgrade.
Upgrading from CFPS™ is a simple 3-step process:
To substantiate your potential, capacity and proficiency to take the responsibilities as a Financial Process Lead, the CFPS™ has become digitally badged now- it means that you can easily share your accreditation with your prospective and current employers digitally. They can verify it securely and easily too.
The digital badge showcases credibility to your online presence. You can easily showcase the well-earned CFPS™ credential in your email signatures, LinkedIn profile and social media platforms. It’s your most authentic, reliable and secure token of your capabilities for performing Financial Process Lead roles with excellence.
The CFPS™ digital badge is an authentic and verifiable digital token of your CFPS™ qualification including a secure digital link to the BCI cloud, where the validation of your CFPS™ credential can be authorized rapidly by those who you have allowed to.
The moment you enroll for CFPS™ Certification exam, a credential case awaits you. This surprising case comprising the CFPS™ Credential works as an added incentive for the applicant to work even better to get through the exam. Along with the credential comes another astounding element in the form of a lapel pin, which portrays your accreditation while being positioned on your top pockets.