Olivia TremblayOlivia Tremblay ran a mid-sized public accounting firm in Toronto. She had some good clients not just in Toronto but also in the surrounding counties. Her biggest problem was a high attrition rate.
Building a workforce takes time. People take time to adjust in the new office. They learn the norms for a few months. Employees who have just graduated gain experience over months, and sometimes even a couple of years before they can contribute in a noticeable manner. There is great demand for entry-level and mid-level accountants and bookkeepers in Toronto and other major Canadian cities. Despite an increasing outsourcing trend, the salaries for accountants and bookkeepers are good, no matter where they are hired. This enables them to join and leave with greater frequency, and less worry.
Interviewing new employees every second month was turning into a nightmare for Olivia. She believed in providing highly tailored and personalized services to her clients and continuously working with new employees was proving to be a big hurdle. Also, the ability of the employees to join and leave was giving a great bargaining power to new employees. Therefore, employees joining and leaving, coupled with their increasing demands vis-à-vis salary and benefits, was taking a heavy toll on the performance on her public accounting firm. Her operational costs were skyrocketing, and her performance was nosediving. She desperately needed to find a solution.
The Covid-19 pandemic was the last straw. Once the employees started working from home, they knew that just like they could remotely work for her, they could also work for other accounting firms. She came to know through an employee who confided in her that without telling her, many of her employees were sharing the time they were supposed to be spending on her work, with other businesses.
Just like her employees, she also started thinking, if she could work with them remotely, she could also work with other employees remotely. But this was in the back of her mind, and she quickly got busy with other things. A few months ago, she had joined a small business networking group on LinkedIn. In response to a related discussion about the scarcity of dependable employees in the field of accounting and bookkeeping, she narrated her own woes and wondered if there was a solution.
A few people responded suggesting that she should consider outsourcing and one of the members recommended Aone Outsourcing Solutions – an accounting and bookkeeping service specifically providing outsourcing services to public accounting firms in Canada and other Western countries. Being a professional accountant, she was aware of the benefits of outsourcing that other firms were reaping, but she herself had never considered partnering with an offshore company, especially for as sensitive a business as accounting and bookkeeping.
Nonetheless, she had her back against the wall. It was becoming the proverbial do-or-die situation for her.
“What can I lose?” she wondered aloud to herself.
With trepidation she clicked the link of the Aone Outsourcing Solutions website and went through the information that was quite nicely presented on the website. Being an accountant sensitive towards the needs of her clients, she was quite impressed by the way different processes were explained on the website. Although there was a phone number, she submitted their online form and decided to wait for the reply.
The reply came within a couple of hours. The representative said that an online meeting could be arranged at whatever was the convenient time for her. During the video meet they could explain to her the entire process of exchanging data to-and-fro. They walked her through the entire process of how raw data would be transferred from her side to the cloud storage service recommended by Aone Outsourcing Solutions and then how they would enter and process the data following the correct and Canada-compliant accounting and bookkeeping conventions.
It seemed too good to be true. Was she finally seeing the light at the end of the tunnel?
Just to be on the safer side, she decided to hand over the details of a smaller account to Aone Outsourcing Solutions. Even if something went wrong, the fallback wouldn’t be serious.
The service worked like a charm. All the needed information was entered in the systems within hours. By the time she logged into her accounting system, in most of the times, the information was already there. All she needed to do was, quickly verify the information, apply her accounting knowledge, and provide the necessary intelligence to the client.
The process with her own employees took anywhere between 48-72 hours. With Aone Outsourcing Solutions, it hardly took 12 hours.
Within 15 days, she started handing data of five of her clients to Aone Outsourcing Solutions. Even with an increased amount of time, the delivery was flawless and timely. The entire scaling happened on the Aone Outsourcing Solutions side; she didn’t have to worry about how to take care of an increase or decrease in the work.
It’s been two years since Olivia has been working with Aone Outsourcing Solutions. The journey so far has been amazing. She has taken over an entire floor of the building – previously she had just a few cubicles for her office. Although she has hired administrative staff, all her accounting and bookkeeping work is being done by Aone Outsourcing Solutions. She is handling accounts for more than 20 clients now. She knows that without worrying, even if the number of clients doubled in a month, she can completely depend on Aone Outsourcing Solutions.