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:
- High wages
- Employment related taxes
- Office space
- Software amortization
- Depreciation of computers
- Other misc. expenses
- 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.
- 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.