CASE STUDY

Problems faced with in house accounting department:

  • High wages of in house accounting department personnel.
  • Poor working capital management.
  • Employer taxes.
  • Cost of accounting department office space.
  • Software & hardware for accounting personnel.
  • Month end closing is taking more than 1 month.
  • Accounts not being reconciled properly.
  • Missing payments due to revenue leakages.

Solutions to the problems discussed above:

  • By outsourcing to escrow consulting group you can save up to 80% on accounting costs by reducing the following costs:
  1. High wages
  2. Employment related taxes
  3. Office space
  4. Software amortization
  5. Depreciation of computers
  6. Other misc. expenses
  7. Learning curve
  • Escrow consulting group closes month within 15 days.
  • We reconcile your accounts on weekly basis and are reconciled properly.
  • We also audit the revenue cycle to ensure no revenue transaction is omitted.

Benefits:

  • Reduced costs related to accounting department by 80%
  • Timely monthly closing to review monthly financial results.
  • Weekly reconciliation of accounts results in weekly financial insights for better decision making.
  • Complete revenue cycle audit to spot revenue leakages resulting in increased revenue.
  • Access to broad range of services including business planning, financial KPI dashboard, financial statements etc.