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Situation
The client, a chartered accountant firm ranked among the top 30 accounting firms in Australia in terms of revenue, faced pressure on margins and difficulty of finding staff and retaining them. The client, in search of an alternative to meet their needs, approached SBS to deliver a back-office solution for its financial and tax accounting needs so that it could focus more on consulting services.
Challenge
Financial Accounts or Income Tax Statements preparation should, in theory, return the same final result irrespective of the person processing it and the place where it is processed. However, the unique requirements of each of the end clients posed an issue. The challenge was to come up with a workflow methodology that would standardize the work practices and make the process of outsourcing easier.
Solution The client developed their own workflow monitoring software wrapped around the application softwares used by accountants in Australia. The job was broken into specific tasks requiring the staff to follow a set methodology. This also facilitated allocation of jobs to any member in the firm or across the globe. SBS sent two of its managers to Australia to work with the client to understand its workflow software and to get trained on the accounting softwares being used by businesses (e.g. MYOB, QuickBooks, Solution 6, APS, MYOB Accountants Office and HandyLedger).Training received from the client was imparted to the other team members upon their return to India.
Impact
This resulted in the client gaining the required confidence and comfort level about the delivery capability of SBS on the accounting jobs Quality of job completed by SBS made the end clients happy which resulted in more customers and more revenue for the client. The client, besides getting the benefit of work done at a lower cost, also was relieved of the burden of staffing-related issues
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