ACCOUNTING BACK OFFICE PARTNERSHIP PROPOSAL Dr. Shobha Gupta | President| S3G, 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
S3G 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 S3G: 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 (S3G) 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/S3G: Documents scanned and e-files compiled
S3G: 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
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. S3G 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/S3G: Documents scanned and e-files compiled
S3G: 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
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. S3G 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
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Trained and experienced team
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Skill-set in accounting and tools
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Client information confidentiality
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Clearly defined logistics and rules of engagement
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Quality assurance: monitoring and improvement
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Up-front agreement of terms and conditions to include turn around time, accuracy, and efficiency
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Cross training between various sites
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Reliable IT support
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 S3G Find clients and negotiate projects Sign contract with client Hand over to S3G 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. S3G manages the Operations Accounting Team pays S3G for contract work Accounting Team works as Project Managers Find clients and negotiate projects Sign contract with client S3G assigns resources in India Accounting Team manages the Operations Commission paid to S3G
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 :
[email protected]
Ashish Gupta Sales Manager Office: (954) 328-7649 E-mail:
[email protected]
http://www.s3gaccounting.com
