Client

Best Customer Service Award winner CPA firm based in US offering accounting, consulting, taxation and training services to corporate world.

Background

The CPA firm in US, winner of the prestigious “Best Customer Service Award” from Local Chamber of Commerce from Chicago, US, in addition to normal day to day accounting, also handles tax forms preparations for its clients. The “tax season” means there is a sudden peak of work volume during the said tax period, during which normal accounting processing should also go on.

Challenges

To manage the tax season efficiently, the CPA firm needs short term resources. Finding short term resources, although not impossible, is expensive and has the risk of reduction in the quality of work due to relatively shorter training cycle during peak season.

One of the options available to the CPA firm was to increase its headcount to cater to the increasing work load. However, this option was not commercially viable since the peak taxation work volume lasts only about three months per year. In addition, the technological and other office infrastructure required to cater to the peak volume are a drain on the cash flows at the CPA firm. Also, most CPA firms have limited space and hence the constraint of adding more staff.

The CPA firm was convinced that managing tax returns deadline efficiently and cost effectively would require much more absorption of technology in its business processes. The need was to have short term resources which would understand the finer nuances of the specific taxation processes and have technological solutions to improve and innovate the processes.

Solution

SIL provided infrastructural and operational support, leveraging its domain expertise in accounting and technology to deliver value by enabling precise and timely tax forms processing. With continuous, secure internet connectivity, fully trained staff members ast SIL office who are credentialed in accounting, process the tax returns data directly into the computer systems of the CPA firm, thereby obviating the need to transfer, upload and reconcile the processed data. The smart, online processing solution and technology capability at both ends empowered the CPA firm to:

		Improve the turnaround timings for processing tax returns.
		Effectively process tax requirements in significantly tight time frames.
		Enhance performance and service its clients better by inceased client focus, rather than managing data processing and administrative functions.
		Utilize its own technological infrastructure optimally as the processing is also being done during the US night hours.
		Handle larger business volume in a cost effective manner.

Benefits

		SIL' s solution increased the ability of the CPA firm to tap the phenomenal growth potential of the seasonal tax returns processing industry.
		With SIL’s resource capabilities and technological connectivity, it was a virtual office in CPA’s office premises, working during night hours to enhance productivity and improve turnaround timings.
		The influx of fresh business is being absorbed easily, without causing a strain on existing resources or without the need for additional capital investment.
		Significant cost savings thereby enabling to CPA firm to increase its investment in marketing its services aggressively, fuelling further growth.
		Getting rave reviews from its Customers: e.g. "Taxes are never fun, but the owner of the CPA firm not only does your work right, he does it painlessly!”.