Law Firm Accounting: US Law Firm Case Study
Our client is an established, US-based law firm offering legal various services having specialization in personal injury, medical malpractice, and legal support for corporate contracts/disputes.
Our client, who is outsourcing their law firm’s accounting tasks to us since 2015, was not happy with their previous service provider. The reason behind this was the mistakes of the service provider. There were a lot of errors in their accounting books. Moreover, the client was not satisfied with the overall performance as the company they hired failed to keep up their promise to assist them in cutting down the operational expenses.
So, they were looking for someone to bank upon. Someone who can handle the accounts on their own. Since the chances of errors in this type of work are more, wherein one is dealing with invoices, duplicate payments, and recording of transactions, accuracy was the client's primary concern.
Another concern of the client was the smooth functioning of their accounting work. They were looking for a reliable accounts outsourcing company that could help them cut down overhead costs and increase profits, without affecting service quality.
We lay our trust in Cogneesol as they never disappointed us for whatever and how much accounting workload we put on them.
Our client was clear regarding the services they required from us and was confident about who they would trust to handle their bookkeeping. Based on our expertise, we provided them a complete solution to all their matters of concern. We chose a uniform approach and smoothly transitioned all the data from the previous service provider. After that, we analyzed all the possible errors and documented each transaction in an appropriate manner. In no time, we successfully corrected all the inaccuracies, which made our client more confident about us.
We tried to understand their work process and also kept a check on our staff to maintain uniformity on both ends. We completed the assigned tasks with maximum accuracy and within the scope of the SLA agreement. We helped our client in preparation of tax returns for their law firm.
Over a period of time, the client engaged our team in handing their payroll processes as well. The entire process of outsourcing accounting back-office proved to be a time-saver for the client and was well within their budget.
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:
- Our dedication and sincerity toward our work helped the client in getting maximum profits.
- We kept updating our staff regarding changes in legislation on tax compliance.
- Faster and more straightforward decision making.
- Books maintained accurately and on time.
- Identified errors in accounts of the client and saved 40% of their accounting expenses.
What We Achieved
We succeeded in providing the best-quality accounting support to our client’s law firm. Over the years, our client has developed complete trust in our team. So, now they want to take this association forward by giving us more responsibility and increasing the scale of work.
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.