Setting up accounting services backend for Scandinavian Firm
Our Scandinavian client started with a vision that encompassed a revolutionary way of accounting in their region. The market for financial services is becoming increasingly globalized and thus, in line with new technological breakthroughs, follows natural demands for lower prices and higher quality. They chose to differ from the standard accounting practice of an accountant sitting in the office of the client.
Approach and Recommendations
We were shortlisted among competitors from India, China, Europe, Australia, Vietnam, Singapore, and the Philippines. A trial run was conducted on the test environment by the client. The trial run comprised a period of two months and focused on two clients. The scope was set as bookkeeping and reconciliation. The overall score given to SBS GLOBAL was 9/10. Significantly higher than the score of the global competitors, we got selected.
- We suggested and implemented different process improvements
- A new QA process was designed for a better understanding of the requirements
- The new process helped to upsurge the overall efficiency of the value chain and also increase the satisfaction level of the end client
Outsourcing the bookkeeping, reconciliation, and periodic closing of books of accounts has aided the client in realizing the following advantages:
- Cost Reduction
- Time Zone Advantage
- Process Improvements
- Quality Output
- Better Customer Satisfaction
- Increased focus on growth