Client profile
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US Government contractor, with various contracts across the Middle East. |
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Revenue in excess of $230m. |
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Situation prior to outsourcing
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Client required to assistance to achieve maximum benefit from their newly acquired contract accounting software. |
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Invoicing was not manual and not system generated, resulting in anomalies in tracing costs. |
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Costs were inconsistently allocated to contracts resulting in potential lost billing and revenue. |
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Management information was inconsistent and not available on a timely basis. |
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Client was finding appropriate recruitment and retention of accounting staff a problem in certain locations. |
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Transformation approach
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Compass BPO carried out a full revision of the accounting system set-up. |
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We re-implemented the system at the client site. |
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We reviewed and documented both the system setup and the clients accounting procedures, including internal controls. |
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Benefits post outsourcing
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Correct system-generated billing and cost allocation ensured that the DCAA audit was completed efficiently and without major problems. |
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Review and reconciliation of costs resulted in discovery of missing revenue in excess of $3.5m. |
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Accounting system is now backed up off-site in India and system recovery is regularly tested. |
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Client now has a dedicated and experienced, off-shore accounting team as part of their resource, enabling them to provide timely and accurate management information and providing a back-office finance platform as their business grows. |
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