CASE STUDY

At Escrow Consulting Group some of the facts which are faced when accounting and booking services are not outsourced often go ignored. Have a look at some basic facts stated below.

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 stated problems

  1. High wages
  2. Employment related taxes
  3. Office space
  4. Software amortization
  5. Depreciation of computers
  6. Other misc. expenses
  7. Learning curve
  • Our chartered accountants close the period within 15 days
  • Your accounts are reconciled on weekly basis and with due care using xero accounting and cloud accounting solutions
  • The revenue cycle is also audited to ensure no revenue transaction is omitted

Benefits at Escrow Consulting Group 

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