| Caselet I |
Our Services: Accounts payable processing involving entry of invoices
and generation of management reports
Client Profile: A well-known Canadian real estate developer based
in Vancouver with proven expertise in constructing and developing high rise concrete
homes
Client Size: USD 300-350 million with 60 employees
Challenge: Rising staff costs along with problems involved in expanding
operations triggered the search for an outsourcing solution for their accounts payable
team beginning with the entry of AP invoices.
Solution: |
- Team of two accountants was set-up to service the stiff service levels (same day
TAT with 99% accuracy)
- Designed a migration plan that covered business, technology , process review and
work-flow steps
- Two week comprehensive training program to familiarize staff with the software (Timberline)
and the process
- Gradual transition from the pilot phase to the “live” phase ensured
smooth scaling up
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| Achievement: |
- Same day turnaround with 99.7% accuracy levels for a daily processing volume of
125 invoices per FTE
- Successful handling of complex invoices involving progressive invoicing and multiple
tax codes
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| Caselet II |
Our Services: Accounting and payroll services in Simply Accounting
and QuickBooks for small medium size companies.
Client Profile: Accountancy firm providing accounting services
to small medium businesses in Alberta, Canada
Challenge: Using outsourcing to reduce cost and eliminate any onshore
hiring.
Solution: |
- A junior accountant was set-up to service the client. Review handled by a senior
accountant
- A pilot phase was designed (one month) where-in we gradually increased the workload
from handling 10 companies to over 50 companies in a month
- Quickly reviewed the existing practices of the end clients (retailers, wholesalers,
professional services) and created process manuals to capture key accounting practices
for each sector
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| Achievement: |
- Client achieved cost savings of 40% when compared against an onshore option
- Client added new customers without increasing head-count.
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| Caselet III |
Our Services: Monthly bookkeeping services- invoicing, expense
accounting, accounts payable processing (including credit cards transactions), accounts
receivable processing (booking receipts), bank and credit card reconciliations and
general ledger maintenance.
Client Profile: Wholesale and distribution firm based out of Alberta,
Canada
Challenges: |
- Migration of clients books from Simply Accounting to QuickBooks.
- Setting up of charts of accounts in QuickBooks
- The client had a large list of raw material and finished goods items and they had
to be checked and coded to the right accounts.
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| Solution: |
- An experienced junior accountant was set-up to service the client. Review handled
by a senior accountant
- Set up of a clean and logical charts of accounts
- Rationalizing and correcting the item list to reflect direct cost • Setting
accounting procedure to handle work-in-progress items
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| Achievement: |
- Successful migration of books from Simply accounting to QuickBooks
- The client has completely well maintained books with accurate inventory tracking
- This eliminated the need of hiring a part time accountant in Canada
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