How our client improved profitability without increasing staff overheads
THE BENIFITS
Seamless integration of all the accounting systems for better management of workflow.
- Provided a committed and dynamic team for industry leading support.
- Achieved cost saving of over 50% against their earlier accounting costs.
- Developed a reporting structure for timely delivery of data and reports.
OVERVIEW
The client is a small sized accountancy practice providing accounting, finance and tax related services to clients from various industries. Their clients are mainly from small-sized businesses. Most of their practice management and tax filing work is automated and they use various software solutions for different accounting activities.
Business challenge
Our client had just started their practice just a year ago, and wanted to focus their time on tasks which would add value for their end-clients and eventually, help grow the practice. Also, they wanted to offer their services at very competitive rates.
How Sage helped?
Sage undertook a detailed study of their procedures and produced a detailed plan outlining all the tasks. After careful consideration the client outsourced their complete accounting process to Sage BPM. This decision firstly allowed them to concentrate on business development and client retention activities; and secondly, provided the additional resources they required at a lower cost base and without the physical office space and associated overheads. We focused on a number of areas from the beginning as below:
- Establishing processes for various accounting related tasks
- Created a manual detailing all processes for training and process improvements
- Set up KRA and KPI for the team to achieve optimum quality and efficiency
- Successfully took over bookkeeping, payroll, final accounts, MIS reporting and various other accounting related tasks.