Offshoring: Synergies and Opportunities for CPA Firms/ Businesses - Explore 5Ms to Growth!
Updated: Apr 20
5Ms to growth, sounds interesting!?
We, at eCloudacc, firmly believe that there lies a significant potential and a whole lot of unearthed synergies in partnership between foreign firms/ businesses and India offshoring firm i.e. eCloudacc. Every for-profit business/ practice, (big or small) runs on 5 Ms. What are they, you must be wondering!?
Well 5 M's are: 1. Money ( Higher Revenue and Lower Costs - Simple !) 2. Manpower 3. Minutes (Time) 4. Management 5. Material and Machinery (oops...not much significant for the service sector right?) While the service sector does do away with the need of Material and Machinery as significant essential, we will take our "fifth M" as Modern Technology.
What opportunities lie in above 5 ?
1. Money : Higher revenue, Higher margin/ assignment, Higher profit/ client, Lower payroll costs (Significant cost factor among service sector companies)
2. Manpower : Business expansion and diversification without any fear of resource crunch, Technically strong and qualified manpower,
3. Minutes (Time) : Monetizing idle time, earning on time differences, More time for core revenue-generating activities
4. Management : Timely Reviews, Enhanced client satisfaction, Better decision making, instant query resolution and business status checks, Lower margin of errors
5. Modern Technology : Lower margin of errors, fast and timely work, improved efficiencies, Remote working, Global connectivity.
How partnership with us, eCloudacc, serves as a big enabler to unearth the underlying synergies and profit generating potentials ?
Payroll cost for in-house staff is one of the single most high value expense accounts in a firm's financials.
Payroll cost in itself comprises of various components like basic pay, diems, perks, incentives, bonus. Not to forget, this is further burdened by mandatory legal regulations linked to employees.
Cost towards in-house staff further bloats due to the need of training expenditure, office maintenance, meals and entertainment, travel, laptops and work-stations to employees and other such expenses. Sub-contracting to eCloudacc on the other hand is an expense of SIMPLE hourly rate or monthly rate (significantly lower than the normal payroll cost). No other hidden costs/ expenditure involved at all. We take care of the staff at our office, their salaries, their training, their maintenance, their hardware needs and everything else. This brings down your operational cost by anywhere between whopping 40-60%, thereby leading to way more revenue and margins!
Our team, your team, one goal!
Yes, you freely expand your business and diversify into various dimensions while we provide you with highly affordable yet highly qualified and trained staff.
It is like your in-house staff that would be working solely for your firm, to deliver the nothing but exceptional quality deliverables.
You don't have to search for manpower, instead invest that time into core business activities We will take care of everything else.
Time Difference is an interesting phenomenon and even interesting is the fact that we can monetize it for you! While you sleep at night, it is working hours in India. Your team works on the discussed deliverables in the day time (remember you and your clients are sleeping!) and delivers the services to you by the time your office starts. It is a highly efficient and profitable model, enhancing client satisfaction and at the same time boosting your working capacity.
By management, we refer to the leadership. Just like your firm is being lead by Industry leaders and domain experts, we have our leadership highly qualified and experienced in Bookkeeping, Accounting and tax domain.
We are Chartered accountants (CPA equivalent) having experiences across diverse industries. We bring in the working experience from big consultancy firms as well as MNCs to serve you nothing but exceptional, on-time services. We follow a robust monitoring and reporting procedure where everything is sent to you, post stringent audit and review by the leadership. We ensure that we have good control over the operational and financial dynamics of the client that helps in attending their queries and clarification on immediate basis.
One cannot emphasize enough on efficiency enhancements, work accuracy, ease of operations, anytime-anywhere operations, global connectivity and transparency, that modern technology has brought into present day practices.
We, at eCloudacc, are certified advisors when it comes to some of the most prominent bookkeeping and taxation software. We don't stop here, but keep on training our staff to understand and become experts in all other service delivery softwares. We are very much comfortable in providing you services through whatever software you or your client desires!
Thank you for going through above, we just showcased some opportunities that are ready to be grabbed. I look forward to further discuss with you the synergies and growth opportunities linked to partnership between your firm and eCloudacc. Explore the various solutions offered by us, here. Please reach out to us at my email id - firstname.lastname@example.org or click here.
CA Prakhar Dave