Case Study

Case Study


Some of the facts which business owners face when accounting and bookkeeping services are not outsourced often go ignored. Have a look at some basic facts stated below.

Problems faced with in house accounting department:

  • Poor selection of candidates for accounting section that results in poor accounting practices at organization
  • In smaller organizations it results in higher accounting errors and omissions because of absence of competent professionals overseeing team which would otherwise add to costs
  • High wages of in house accounting department personnel
  • It takes more cost to go online besides maintaining a full-fledged physical accounting setup in case management wants to review reports remotely/virtually.
  • Routine tasks take more time for processing in absence of sophisticated tools
  • Poor working capital management
  • Employer taxes
  • Disproportionate and varying cost of utilities
  • 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 bookkeeping services, you will save most of your accounting costs by reducing/eliminating the followings:
  • Cost of hiring and retaining competent professionals
  • High wages of other accounting staff
  • Additional costs/losses because of errors/omissions
  • Employment related taxes
  • Cost of office space
  • Cost of utilities
  • Software amortization
  • Depreciation of computers
  • Learning curve
  • Employee absentee and turnovers
  • Only chartered accountants close the period within minimum stated time
  • Your accounts are reconciled on weekly basis and with due care using cloud accounting solutions
  • The revenue cycle is also audited to ensure no revenue transaction is omitted

Benefits at Escrow Consulting Group:

  • If not all then most of your costs reduced related to accounting department
  • Satisfaction and peace of mind with accurate reports and financial results
  • Timely monthly closing to review financials
  • Weekly reconciliation of accounts results with weekly financial insights for better decision making by the qualified 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
  • Additional reports/services available at minimum costs

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    The company provides a range of finance and accountancy services to its diversified portfolio of customers, from detailed feasibility studies to in-depth management reports with analysis and commentaries
    Richard Malyon
    Richard Malyon
    We have been working with Escrow for the past two years. They are professional, efficient and able to assist with all our questions and queries. I would highly recommend them to anyone needing financial services.
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    Nick Hyland
    Amazing service, I've used for a long time and will continue to do so. Thanks guys.
    P D
    P D
    “Escrow Consulting Group has been an invaluable partner in our techno-financial feasibility studies. After outsourcing our financial assessment work, we were impressed with their skills. They worked closely with us to understand our company and the direction we wanted to take. We agreed on a fair work scope and charges, and they delivered excellent FA work that exceeded our expectations. We are thrilled to have Escrow Consulting Group as our partner.” Dr.Pedram Dehdari Managing Director Ensymm Company Duesseldorf/ Germany
    Andrew Marsham
    Andrew Marsham
    I worked with Jahangir to set up my VAT and accounts in the UAE. He done great work, communicated effectively and was a pleasure to work with. Highly recommend
    Raheel H
    Raheel H
    I have used Escrow / Mahmoud now for 3 years and he managed to get our finances of almost 10 years into an excellent shape including leveraging Xero accounting software. He has excellent knowledge of the UAE jurisdiction and laws and has an excellent network of experts to advise on any issues - even those that might be more complex around auditing and complex taxation.
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    Zaur Kadokhov
    I found the company online and they helped me file the application for the tax in U.A.E. They were very helpful and informative, as well as offered better pricing than others. Thank you for your help

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