ibn f&a service case study [us cpa firm] 2015

© 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com

This Case Study is to……………….

Explain the Services that IBN Technologies is rendering to CPA Firm in USA

IBN Technologies Limited

Overview: Active F&A Engagement Transition Phases Activities Phase Wise & Deliverables Technical Setup Data Management Process Process Flow Book-keeping Work Process Scan Documents & Processing Challenges & Difficulties Accounts Preparation Services IBN Value Proposition IBN Service Charges

Index


Overview: Active F&A Engagement

Introduction The Client is Mid Size CPA Firm in USA with more than 200 Clients The Client was finding very difficult to handle its operations as it require daily contact with clients, along with focusing on rendering services and other important strategic aspects of his business i.e. retaining Human Resource. The Client was looking at a BPO service provider with a full scale service offerings and capability to transition the process with aggressive timelines while ensuring stringent SLA’sOutsourcing Processes Process are being outsourced in 2 phases. The first phase covers the following processes: - Live March 2008• Book-keeping Services• Payroll Processing Services The Second Phase includes transition of following processes – Live October 2008• Final Accounts Preparation including all schedules

Proposed Technology QuickBooks 2008 &2009 as Accounting Software QuickBooks Software is installed at Client Server Bank Statements, Credit Card Statements, Check Register or Check Stubs and other necessary supporting documents will be scanned and kept at client server IBN Team uses VPN Connection to excess client server, also two user logins are provided to work on dual monitor.

IBN’s Value Proposition IBN CRM for effective communication and project managementAggressive Transition timelines Transparent SLA Management and improvement Improve technology and process automation Experienced Team Top Management Commitment


Overview of Transition Phases

Initiation

Client

IBN Offshore Team

* Onsite IBN Coordinator (If Required)

Knowledge Transfer Transition Steady Phase

Client * Onsite IBN Coordinator (If Required)

Client * Onsite IBN Coordinator (If Required)

Client

* Onsite IBN Coordinator can be provided to ensure smooth Transition & Knowledge Transfer. All discussions will be done in person between Client and Onsite IBN Coordinator and in turn between Onsite IBN Coordinator and IBN Offshore Team.

Including 10 Days / 40hrs Free Trial

IBN Offshore Team IBN Offshore Team IBN Offshore Team

Ongoing10-15 Days2-3 Days1-2 Days


Activities in Transition Phases

Initiation Phase

Knowledge Transfer Phase

Transition Phase

Steady Phase

- Scope & Service requirement Document- Scanning Service Requirement (If required)- Testing offshore connectivity to client server- Access to Software and Scan Documents- Current workflow study & Transition Plan- Client Overview and Knowledge transfer- Client Manual Document preparation- Service Level Agreement (SLA) Document

- Data for Trial Process- Analysis of data of the past- Processing Data provided under Trial Process - Acceptance prior to moving to Steady State

-Deliverables as per Communication


Technical Setup

VPN Setup (Windows Server) Windows Server 2003 and Above Configuration – Domain Controllers Rights Static IP 512 KBPS Bandwidth & Above

Remote Desktop Connection Setup PC with OS Windows 2000 and Above Static IP 512 KBPS Bandwidth & Above

Online Remote Desktop Connection Logme In Setup Installation (www.logmein.com) 512 KBPS Bandwidth & Above

Right based access to IBN Back-office Team Two User logins to effectively use Dual Monitor at IBN Center Independent usage to IBN Team at any point of time If Windows Server Setup not available then License Cost

Benefits & Limitation

Benefits & Limitation NO New InvestmentFor access PC need to be ON & connected to Internet No other User can work when IBN Team is working Gives Full Access to all folders & file on PC

Benefits & Limitation NO New Investment. Logmein setup is FreeFor access PC need to be ON & connected to Internet No other User can work when IBN Team is working Gives Full Access to all folders & file on PC

Scanner (In house Scanning) Scanner which Scan files as PDF and Image file

Benefits & Limitation Paperless Office Indexing of Documents for later reference If no Scanner then New Scanner Cost


http://www.logmein.com/

Data Management Process

Data and Software resides at Client’s server only and IBN Team access the System through VPN connectivity to view and process the data at client side only

Receive Data Info

Documents are Scanned Server at Client Office with

Software & Scan Images of Document on domain

Process at Client Office

Indian Processing Facility with Dual Monitors

IBN Team use Diskless PC with Dual Monitors so that Scan Documents and software can be opened on separate screens for easy and quick processing

VPN Setup (Windows Server)

Executive 1 Executive 2


Process Flow

At IBN, Work is the three step process and is closely monitored to ensure quality service delivery to clients


Book-keeping Process Flow


Scan Documents & Processing

Client Scan the following documents for the processing:

Check Stubs/ Check Register prepared by the ClientBank StatementCredit Card StatementLoan Amortization/ Depreciation Schedule (If Any)Invoice CopiesDeposit SlipsPayroll Register / Attendance Sheet

Based on the Scan Documents IBN Team process following entries

Check Payments EntriesBank Withdrawals & Debits EntriesCredit Card Transaction ProcessingLoan Payment Entry and Depreciation EntryPurchase & Sales Bill InvoicingBank DepositsBank Reconciliation Payroll Processing & Payslip Preparations


Challenges & Difficulties

IBN Staff working for specific client leaving organization IBN ensures that the Process Manual are prepared for each client with all necessary details and it is updated on day to day basis. FAQs specific to each client are also prepared for quick reference.

Scanning of Check StubsIf the Check Counterfoils cannot be scanned properly then the details are provided in Check Register which is excel file prepared by client.

Getting familiar with Client Chart of AccountsTo start IBN Team take a step backward and review the book-keeping work for previous months which are already processed by client and based on same clarify there queries.

New Information (Debit/Withdrawals or any other transaction) If there is any new or unusual transaction than it is clarified with Client first before it is processed.Any Missing InformationIf there is any information which IBN Team think is required than they sent requisition for missing info to client.

Unreadable ChecksIf the text on the Check Counterfoils is unreadable then IBN Team process the check to “Ask my Accountant” account. Client review all entries posted in this particular Account.


Accounts Preparation ServicesIBN prepares the Final Accounts as per required Accounting regulation. It includes preparation of all schedules along with working papers. Based on work papers the adjustment accounting entries are passed in Pro System FX TB.

Process Steps


Complete Service cycle Off shoring

Consulting-led Approach to Deliver Business Services

Low Cost of Ownership

Dedicated Team of Qualified and Certified Professionals

State-of-the-art Facilities and Infrastructure

Minimized Business Risk

Uninterrupted Operations

Data Security

Dedicated 24/7 Support Staff

IBN Value Proposition


IBN Strength

Accounting Outsourcing is core business of IBN. We are independent third party service provider that is not allied to any firm, thus mitigating potential conflict of interest.

Our client management structure is designed to ensure that each client has it own dedicated staff. Small firms receive the same service as the medium/big size firms.

Our staffs understand service level responsibilities and are committed to meeting client expectations and deadlines. We focus on building and maintain the integrity of our relationships.

All of our work is subject to a combination of 100% quality check and senior review. Controls have been developed specifically to meet the industry requirements and are subject to compliance and internal audit protocols.

Our facility has the entire necessary infrastructure to support 24*7. At all time we ensure confidentiality of client information by having paper less office and systems with no internal and external storage device.

We train our staff to provide specialist accounting support, corporate services and day to day management. We employ professionals who are ambitious and accurate, able to manage deadlines and responds to clients’ needs. Senior staff is qualified accountant and technical specialists.


For More Information

Head OfficeIBN Technologies Limited, CyberNex, 4th Floor

Shankar Sheth Road, Swargate, Pune, Maharashtra 411037. INDIAT: +91 20 2426 4182 / 83 F: +91 20 2426 4184 E: [email protected]

London Office:Mirabelle House, 26, Barclay Road, Croydon, Surrey CRO 1JN, London. UK

T: +44 20 3026 1884; F: +44 20 7022 1713; E: [email protected]


mailto:[email protected]

mailto:[email protected]