Global Accounting Corp : Enhances Accounting Process for a Kitchenware manufacturing process, Achieving significant increase in productivity

Challenges faced by the Client

• Due to a high influx of customers from various countries, the clients faced challenges in effectively managing their accounts and maintaining accurate daily reports for month-end tasks, bank reconciliation statements, AR & AP invoice processing, cash flow management, marine insurance, commission reports, and payroll.
• The other challenges include timely completion of daily tasks, weekly tasks, and other miscellaneous tasks. The Client had changed their Software which resulted in Increasing the turnaround time.

Solution

The client has entrusted us with the responsibility to deliver comprehensive accounting outsourcing services, ensuring timely completion of various tasks to prevent wastage of time, resources, and funds.

The Tasks Include:

• Providing the A/R Aging reports, their Cash Flow.
• Receiving the Payment from the different Customers through Various Modes.
• Providing Different reports Like Inventory, Insurance reports.
• Month Close tasks: We reconcile Different Banks, Preparing the Commission Reports, Do the monthly Payroll reporting and Sales reporting.

Results

• Our accounts outsourcing services, which have been utilized by the client since 2010, have delivered significant improvements to their operations. Strategic file allocation to specific accountants has resulted in enhanced efficiency, leading to a remarkable increase in productivity.
• The implementation of a 24-hour work schedule has allowed us to maintain round-the-clock productivity, resulting in a significant reduction in turnaround time for accounting tasks.
• Regular intra-team communication has effectively reduced errors and discrepancies to a great extent.
• Our robust supervision system ensures high-quality outputs and substantial error reduction.
• Frequent sharing of comprehensive reports has facilitated informed decision-making, contributing to a notable increase in overall profitability.

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