CASE STUDY

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

  • By outsourcing accounts to Escrow Consulting Group, you can save up to 80% of 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 its period within 15 days
  • Your accounts are reconciled on weekly basis and with due care
  • The revenue cycle is also audited to ensure no revenue transaction is omitted

Benefits

  • 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
  • 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