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Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
Owa Presentation 1.07.09
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Owa Presentation 1.07.09

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  • 1. Online Web Accountants Nigel McAuley ACA/CAZ Online Web Accounting Limited (OWA)) Outsourcing, an Irish solution.
  • 2. Outsourcing, an Irish solution. What We Do <ul><li>Ireland’s leading provider of Outsourced Accounting Solutions to Professional Accounting Practices and clients. </li></ul><ul><li>We deliver tailor made Irish solutions to meet the needs and wants of our clients </li></ul><ul><li>We operate, maintain and supply online accounting software </li></ul>
  • 3. Outsourcing, an Irish solution. 5 Years of Exciting Development <ul><li>Investment of time, money, software trials </li></ul><ul><li>Development of business processes / procedures </li></ul><ul><li>Development of software IP for ourselves initially and for re-sale. </li></ul><ul><li>Determining which part (s) of the process and operations can best be outsourced </li></ul><ul><li>Developing new markets </li></ul><ul><li>Transfer of clients from Ireland to Sri Lanka </li></ul><ul><li>Establishment of strategic partnerships </li></ul><ul><li>Delivery of a high quality products </li></ul>
  • 4. Outsourcing, an Irish solution. Our Professional Expertise <ul><li>Accountancy </li></ul><ul><li>- Nigel McAuley – ACA/CAZ – Managing Director </li></ul><ul><li>. - Richard Doggett – FCA Director &amp; Public </li></ul><ul><li>Practitioner </li></ul><ul><li>Technical </li></ul><ul><li>- Paul Meier – Chairman (Founder member of several technology companies) </li></ul><ul><li>. - Giles Palmer – Technical Director </li></ul>
  • 5. Outsourcing, an Irish solution. The Importance of Outsourcing <ul><li>Reduced staff costs that continually rise </li></ul><ul><li>Shortage of skilled staff </li></ul><ul><li>Better utilisation of your time </li></ul><ul><li>More capacity to grow </li></ul><ul><li>Increased profits through increased margins 6. Access to new markets </li></ul>
  • 6. Outsourcing, an Irish solution. The challenges when considering outsourcing to Sri Lanka <ul><li>Lower costs do not always produce better quality </li></ul><ul><li>Investment in Sri Lanka vs JV vs Partnerships ? </li></ul><ul><li>Building up trust with potential partners – takes time! </li></ul><ul><li>Communication issues arise-due to language skills </li></ul><ul><li>Shortage of skilled graduates from local Universities </li></ul><ul><li>Rates need to be competitive internationally 6. Local infrastructure needs major investment </li></ul>
  • 7. Outsourcing, an Irish solution. Why Clients Use Us <ul><li>We offer SME clients free use of online Software </li></ul><ul><li>Typical cost savings of up to 25% - 30% </li></ul><ul><li>Cost effective way to expand </li></ul><ul><li>Quick turnaround due to processes and technology </li></ul><ul><li>Less Hassle - Less Pressure </li></ul><ul><li>Established processes and procedures </li></ul><ul><li>Use of qualified &amp; Irish trained professionals </li></ul>
  • 8. Outsourcing, an Irish solution. Professional Services <ul><li>Monthly management accounting </li></ul><ul><li>Payroll services P30/P35 </li></ul><ul><li>Vat 3 returns </li></ul><ul><li>Preparation of full working paper files </li></ul><ul><li>Preparation of full statutory accounts </li></ul><ul><li>Income Tax and Corporation tax comp. </li></ul><ul><li>Filing of all tax returns on Ros </li></ul>
  • 9. Outsourcing, an Irish solution. Outsourced Services <ul><li>Bookkeeping and accounting services </li></ul><ul><li>Indexing and data entry services </li></ul><ul><li>Web site design &amp; development </li></ul><ul><li>Software design and development </li></ul>
  • 10. Outsourcing, an Irish solution. How Does it Work? - Paperless - Quick - Accurate - Less Expensive = Happy Clients
  • 11. Outsourcing, an Irish solution. Accounting Software <ul><li>Inrax – online accounting </li></ul><ul><li>Quickbooks </li></ul><ul><li>Sage </li></ul><ul><li>TAS </li></ul><ul><li>MYOB </li></ul><ul><li>Viztopia accounts production </li></ul>
  • 12. Outsourcing, an Irish solution. How do we do Accounting business? <ul><li>We work with client bookkeepers </li></ul><ul><li>We supply admin person / bookkeeper </li></ul><ul><li>We provide monthly management accounts </li></ul><ul><li>Annual Accounting services </li></ul>
  • 13. Outsourcing, an Irish solution. How we operate with or without Bookkeeper at Clients premises – 10 Step Process Step 1 – Client meeting and planning Step 2 – Develop process around client in-house resource /admin person Step 3 – Organise client standard set of procedures Step 4 – Gather all source docs to organise, scan and file Step 5 – Remotely access client PC remotely or use of online accounting Step 6 – Review the source docs and data entry and check reconsiliations Step 7 – OWA prepares monthly management accounts / full w/papers Step 8 – Present monthly management accounts to client FM/FD Step 9 - File VAT 3 / P 30 through ROS after checking Step 10- Prepare annual statutory accounts/ Corporation Tax &amp; Directors Tax returns
  • 14. Outsourcing, an Irish solution. Some members of our team
  • 15. Outsourcing, an Irish solution. What’s on offer <ul><li>If you need to produce monthly management accounts or need to utilise part of your admin process, then we can help you. </li></ul><ul><li>If you are considering outsourcing to Sri Lanka, we can provide professional advice to you based on our experience on the best ways to outsource Intelligently, we would be happy to talk to you. </li></ul><ul><li>We may also be able to assist with funding investment in Sri Lanka either through business partnerships or through a JV. </li></ul>
  • 16. Outsourcing, an Irish solution. Online Web Accounting Thank you for your time Questions Contact details: Head Office t (+353)-41-9813867 f (+353)-1-2586746 [email_address]

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