Accounting Back Office: US CPA Case Study
- QuickBooks Bookkeeping, Reconciliations, Accounts Payables, Accounts Receivables, Monthly Financials
- Customer is a US CPA firm providing bookkeeping, accounting, tax returns preparation and tax advice to SMEs. Their client base includes; Entrepreneurs, Partnerships, Corporations and Not for Profit organizations. CPA firm's clients are divided into 2 types: Real-Time clients who have regular flow of work on weekly or monthly basis and After-the-Fact market.
- Client's focus was to service the need of a unique market segment: Small and Midsized Businesses which had desperate need of a professional, personalized and customized services by the Accounting Firms.
- The growth targets and long term strategy had need for a very strong and scalable back office support.
- Unscheduled spikes in the volume of work from the nature of clientele.
- High attrition in his local team and difficulty in getting the right fit employees.
- Internal Accountants over burdened hence leaving very less time to focus on high end consultation.
- Need for cost cutting due the current world business scenario.
- Experienced project manager was entrusted to understand current working structure of the CPA firm.
- The QuickBooks Enterprise version was hosted on a ASP (www.rightnetworks.com) for real time access to all stake holders.
- Worked with the Customer on creating procedures and manuals and standardize them.
- The back office team was split into focusing on Real-Time clients and After-the-Fact clients.
- We shared our established processes with the client and customized specifically to the CPA firms needs. This helped us to gain confidence of our client in initial stage.
- Set up a team with a mix of bookkeepers, Junior Accountants and Indian CPA level supervisor.
- Direct channels of communication between the US office and Indian Operations.
Key Success Points
<< Back to Case Studies
- Over 50% cost savings.
- With seamless communication with CPA firm we developed guidelines for their all different tasks and clients types.
- Client approved processes helped in the time management and faster turnaround to end clients.
- Our internal process focused on the Quality. This was divided in two levels, primary being looked over by fellow our Team
- Leaders and final look over by our operations Mentor.
- CPA Firm's US team could focus more on customer service, consultation and business advice to their clients.
- Today 60% of the back office processing work is handled by the Indian Operations at Cogneesol.