In today's competitive world, any organization needs to have sound financial planning and management to ensure sustained growth and good business health.
Every business owner should learn the critical components of bookkeeping and accounting. There are vast online resources geared towards teaching small business owners accounting which will guide you from a basic level of financial management.
We work as a helping hand for those who are suffering from the financial crisis and those who look forward to a trouble-free, clean and smooth flow of operations.
IBN, with more than 16 years of providing cutting-edge bookkeeping services and accounting solutions for all kinds of industries. IBN also ensures that all costs are kept to a minimum by offering affordable bookkeeping services and providing the latest management ideas and all their Client's tax preparation needs.
Regarding our website, the Client contacted us.
This well-established company leases equipment, tools and machinery. While they have a monopoly in the business in their region, further growth beyond this territory has not been possible as they have been following archaic methods of financial and accounting records management.
Step 1: We gave them a Cash flow presentation based on their past bookkeeping data.
Step 2: Also, show them the Budget point of view where they are lacking.
How to cut down expenses
Replacement of Old Machineries
Depreciation of machineries
Labour Cost Evaluation
Step 1: Many clients required hard copies of bills for record-keeping. We undertook the printing and mailing of bills to the clients, freeing up Client staff from this time-consuming job. Print fulfillment and mailing of invoices and statements had taken up considerable manual time and effort. By outsourcing this process, clients could manage their work in a more organized manner.
Step 2: As the Client required a comprehensive digitized database, the invoices and statements were all processed and saved on the IBN Vault, which is accessible by the Client at any time with secure login identities for end customers on a secure dedicated server. Our AR solution allows easy access to related documents.
Step 3: The Client sends us scanned copies of all supporting documents- purchase orders, receipts and correspondence, and adds all the documents to the folder under the Vault. Therefore, a comprehensive financial history of each account would be readily accessible to the Client by logging in through the secure server and accessing the online records.
Step 4: We provided the Client with a secure branded customer portal that allows their customers to log in and review their invoices and supporting documents. Payments by clients were routed through ACH facilities or credit/debit cards online. Now that the electronic invoicing and payment solution is in place, the Client's costs are immediate and receipts are generated instantly and recorded electronically.
THE CLIENT'S FEEDBACK
We are not permitted to disclose our Client's identity for privacy reasons, so we shall call it Client.
Feedback 1: IBN Bookkeeping solution has streamlined all our financial processes and made our accounting systematic and functional. The electronic invoicing and payment solutions they have set in place help us understand our business finances end-to-end. There is no dependency on manual processes, and we have been able to cut the number of staff required to less than half! We have strengthened performances and are looking forward to sustained long-term growth.
Feedback 2: After months of researching hundreds of companies, visiting their offices, and extensive reference checks, we are delighted with our decision to select IBN. They have exceeded our expectations with consistent levels of specialized knowledge, quality, speed, and professionalism.