The Client:
Our client is one of the leading healthcare staffing and recruitment service providers in the US. Providing both contract-based and permanent staffing solutions to government and commercial medical facilities across the US, the client functions in a large area of operations and caters to a diverse clientele.
Challenges
Our client operates in a diverse setup. Due to the complexities arising out of this, the client’s primary focus was on the turnaround time, quality, and efficiency of their accounting processes. Nevertheless, because of the higher rates of attrition in accounting staff, the troubles of finding suitable substitutes, and the costs involved in training new employees, the client struggled to control costs and retain efficiency.
Intending to bring down the cost of operations and fulfill their growing demand for competent accounting staff, the client contacted Cogneesol. They did not want just ‘number-crunchers’ but instead were looking for capable, dynamic accountants who had the potential to think ahead while giving due consideration to the inherent intricacies of their accounting processes.
We are able to deal better with clients as Cogneesol took our accounting workload away.
Solution
Working hand-in-hand with the client, we attained an in-depth understanding of their processes, needs, and unique challenges. In line with this understanding, we put together a dedicated team of our competent accountants who worked directly with their in-house team to transition the accounting tasks. The transition focused on numerous areas, such as:
- Streamlining the accounting process with new process controls for seamless accounting
- Establishing procedures for several accounts related tasks
- Assisting with issues about compliances and taxes, with a close watch on cost reduction
- Forming a reporting structure for the timely delivery of crucial data and reports
- Redesigning inter-company processes to improve the accounting
- Providing help and advice at the time of internal and external auditing of accounts
- Carrying out bookkeeping, tax preparation, final accounts, reporting, and many other core accounting-related tasks
Benefits
Our team rapidly attained the distinction of being considered not as their outsourced team of bookkeepers and accountants, but, as their in-house team, simply working from a different geographical location. The most important achievement was an exceptional improvement in the quality of the deliverables, including delivery time, proficiency, performance, and comprehensiveness. This was highlighted by the following:
- Performance and quality targets were achieved with just three team members, compared to their in-house team of six semi-qualified staff.
- Realized cost savings of more than 50% against their previous accounting costs.
Client Testimonials
It is always a pleasure to learn that the work we do has positively impacted our clients and that they are happy to share their experiences.
We have been engaging Cogneesol for our accounting requirements for the past 2 years, and we are completely satisfied with their services. They are amazing and professional as an accounting service provider. The results were delivered in the promised time frame. Will recommend you guys to all my friends!
As my business expanded, I was faced with a question, whether to hire an in-house accounting team or to engage an outsourced accounting service provider for the job. I decided to go for the outsourcing accounting firm, and my search ended at Cogneesol. They quickly understood my needs and delivered outstanding results. Really pleased to work with Cogneesol.
Working with Cogneesol has been an enriching experience. When the need to outsource my overall business accounting and payroll functions arose, Cogneesol was recommended by my friend. I was very impressed by the professionalism of the Cogneesol Team. These guys are experts in their field.
