The company (NDA) has been providing accounting services for companies in Delhi and nearby states for more than 8 years.
At the moment it serves about 68 clients, providing accounting and tax services. The CEO and the Managing Partner aim to increase the number of clients, but they face rather typical issues such as time consuming and human errors. That blocks business growth. The company’s staff includes only 5 accountants and the Senior Accountant, who has to review all the documents after the accountants.
The problem
The problem is that the Managing Partner (Senior Accountant) has to check all the documents, otherwise human errors definitely lead to a mismatch of the report, penalties, returning for corrections, searching for errors and wasting his time, as a result. His 5 accountants have 68 active clients and 200 customers total. On average, they get 100 purchase invoices from one customer. That's a lot of work.
At the same time, one of the KPIs of the Managing Partner is to increase the number of clients. He knows what to do, but there is not enough time for it. Moreover, new clients will require more accountants and more of his personal time to do reviews.
The Partner Manager tried to improve data accuracy by fines, firing the most unqualified employees, but human errors still remained. It seems there was only one option – automation. But how to choose the solution and ensure that it really helps to achieve business goals?
The solution
The Partner Manager contacted Entera Global Company to learn more about the functionality of the data entry service.
During the set of meetings, Enera’s experts made an audit of the data entry process to understand the real current capacity and pain points of the process.
How do they collect invoices? How many documents and what types do they have to enter? And other questions that cleared the situation.
We did all the necessary settings for multi-channel document collection and studied the staff on how to make bulk recognition, automated items matching and data entry into Tally.
The result
At the end of the 1st month of using Entera, we calculated how much time the Partner Manager saved by not checking human errors. Thanks to Entera he saved more than 20 hours in the 1st month of using the data entry service.
Moreover, the data entry process became quicker and more accurate, saving approximately 20% of the accountant's time. Multiplying that to 5 accountants, the client freed up 1 full-time accountant per month.
The CEO and the Managing Partner decided not to reduce staff and focused on getting new contracts and developing current clients.
Thanks to time-saving and the economy of human resources during the 1st month using Entera they took 5 clients for bookkeeping and got + 75 000 IRS per month extra. The team was so inspired that nowadays they have more than 100 active clients. They achieved the result in 4 months and now earn more than 650 500 IRS extra per month without hiring new accountants.
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