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

IBN is a cost effective service provider for Finance and Accounting outsourcing services including Book Keeping, US & UK payroll & virtual CFO Services

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

  1. 1. © 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
  2. 2.  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 © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  3. 3. 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’s Outsourcing 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 management Aggressive Transition timelines  Transparent SLA Management and improvement  Improve technology and process automation  Experienced Team  Top Management Commitment © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  4. 4. 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 © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  5. 5. 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 © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  6. 6. 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 Investment For 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 Free For 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 © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  7. 7. 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 © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  8. 8. Process Flow At IBN, Work is the three step process and is closely monitored to ensure quality service delivery to clients © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  9. 9. Book-keeping Process Flow © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  10. 10. Scan Documents & Processing Client Scan the following documents for the processing: Check Stubs/ Check Register prepared by the Client Bank Statement Credit Card Statement Loan Amortization/ Depreciation Schedule (If Any) Invoice Copies Deposit Slips Payroll Register / Attendance Sheet Based on the Scan Documents IBN Team process following entries Check Payments Entries Bank Withdrawals & Debits Entries Credit Card Transaction Processing Loan Payment Entry and Depreciation Entry Purchase & Sales Bill Invoicing Bank Deposits Bank Reconciliation  Payroll Processing & Payslip Preparations © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  11. 11. 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 Stubs If 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 Accounts To 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 Information If there is any information which IBN Team think is required than they sent requisition for missing info to client. Unreadable Checks If 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. © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  12. 12. Accounts Preparation Services IBN 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 © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  13. 13. 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 © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  14. 14. 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. © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com
  15. 15. For More Information Head Office IBN Technologies Limited, CyberNex, 4th Floor Shankar Sheth Road, Swargate, Pune, Maharashtra 411037. INDIA T: +91 20 2426 4182 / 83 F: +91 20 2426 4184 E: info@ibntech.com London Office: Mirabelle House, 26, Barclay Road, Croydon, Surrey CRO 1JN, London. UK T: +44 20 3026 1884; F: +44 20 7022 1713; E: info@ibntech.co.uk © 2015 IBN Technologies Limited. All rights reserved.www.ibntech.com

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  • GLGAccounting

    Oct. 13, 2017

IBN is a cost effective service provider for Finance and Accounting outsourcing services including Book Keeping, US & UK payroll & virtual CFO Services

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