ACCOUNTING BACK OFFICE PARTNERSHIP PROPOSAL Dr Shobha Gupta
ACCOUNTING BACK OFFICE PARTNERSHIP PROPOSAL Dr. Shobha Gupta | President| S 3 G, LLC Outsourcing Specialists
OUTSOURCING GOALS 1. Bottom-line • Up to 60% reduction in back-office costs. 2. Top-line • Focus your time on generating revenue/acquiring clients. • Spend less time hiring, training, and managing. Typical Costs Bookkeeping: General Accounting: Litigation support CPA services: from $15/hr from $35/hr TBD from $50/hr
S 3 G SERVICES OVERVIEW • Accounting (Back-office Support) – Bookkeeping, accounting, and tax preparation for individual and group practices – Litigation support – Business evaluation – Payroll – Audits, SOx…… • Business Process Improvement Consulting – Business Process Audit – Process Optimization – Process Automation
EXPERTISE Bookkeeping • Accounting data entry • Accounts Receivable/ Payable Management • Bank and Credit Card Reconciliation • Trial Balance • Customized Financial Statements Accounting Services • Year End Accounting • Fixed Asset Management • Business audit/evaluations • Inventory control and analysis • Legal search, e-discovery • IPR Outsource the following fully managed Accounting Services to S 3 G: Tax Preparation • Personal & Business Tax Returns • 1040 preparation support for Accounting firms • Payroll and Sales Tax Reporting • Year-End Tax Planning Accounting Systems • Online and Off line system set-up • HW /SW consulting • Bookkeeping and Tax filing • Training
BENEFITS • Most competitive pricing as our staff is based in medium sized cities in India( Indore, Kanpur ) where the infrastructure/education levels are equal to large cities, but the cost of living is much lower • Client interface (S 3 G) is based in Florida • Trust - built with over 25 years of ongoing relationships with staff in India • Highest level of professional service – our staff are retained for long-term assignments • Confidentiality assured • Ongoing programs to continuously improve our service through innovation and automation
BOOKKEEPING PROCESS FLOW CPA/S 3 G: Documents scanned and e-files compiled S 3 G: Scanned images and PDF files reviewed and uploaded to secure server. Project Manager granted access to files India Team: Project Manager reviews files and assigns tasks to India Team: File access provided to trained Bookkeeper(s) India Team: Data entered on-line or offline into the Software system agreed with CPA/client India Team: Data reviewed by Chartered Accountant and 2 -level Quality check performed India Team: Report and/or e-files sent to CPA/client. S 3 G manages tracking of progress and delivery CPA: Bank statements, invoices, and other documents received by CPA from the client
1040 PROCESS FLOW CPA: Documents received by CPA from client CPA/S 3 G: Documents scanned and e-files compiled S 3 G: Scanned images and PDF files reviewed and uploaded to secure server. Project Manager granted access to files India Team: Project Manager reviews files and assigns tasks to India Team: File access provided to trained Tax Preparer India Team: Tax Return prepared using Software of CPA/client’s choosing India Team: Data reviewed by Chartered Accountant and 2 -level Quality check performed India Team: Tax Return softcopy sent to CPA. S 3 G manages tracking of progress and delivery
DATA SECURITY ASSURANCE 1. Data transfer via secure password-protected web portal, or use of online Software tools as per client business model 2. Only authorized persons have access to client data - no paper allowed in work areas 3. Specific accounting staff allocated to specific clients/projects. Staff are all permanent. 4. Security and authorization similar to on-site accounting firms with multiple staff dealing with same clients i. e. controlled log-in and confidentiality commitment
PARTNERSHIPS: CRITICAL SUCCESS FACTORS • Key contact in same time zone • Trained and experienced team • Skill-set in accounting and tools • Client information confidentiality • Clearly defined logistics and rules of engagement • • Quality assurance: monitoring and improvement • Cross training between various sites • Reliable IT support Up-front agreement of terms and conditions to include turn around time, accuracy, and efficiency
OUTSOURCING BUSINESS MODELS 1. Hire fully supervised manpower on hourly/monthly/yearly rates 2. Hire dedicated manpower on monthly rates 3. Fixed per-project costs: $$ agreed up-front 4. Open to other business-models…
PARTNERSHIP BUSINESS MODEL SCENARIOS A. B. C. Accounting Team works as marketing arm of S 3 G § Find clients and negotiate projects § Sign contract with client § Hand over to S 3 G to manage the contract § Commission paid per payment received or a fixed upfront commission Accounting Team works as the Client interface § Find clients and negotiate projects § Sign contract with client § Accounting Team maintains the client interface. S 3 G manages the Operations § Accounting Team pays S 3 G for contract work Accounting Team works as Project Managers § Find clients and negotiate projects § Sign contract with client § S 3 G assigns resources in India § Accounting Team manages the Operations § Commission paid to S 3 G
LET’S PARTNER……. 1. Agree Partnership business model 2. Define responsibilities 3. Agree rules of engagement 4. Initiate a Pilot run with known client 5. Pilot process review, standardize the process 6. Launch the process for more clients…
CONTACT INFO Dr. Shobha Gupta President Office: (954) 533 -1297 E-mail : shobhagupta@s 3 g. us Ashish Gupta Sales Manager Office: (954) 328 -7649 E-mail: ashishgupta@s 3 g. us http: //www. s 3 gaccounting. com
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