case study
Accounting
- LOCATION: Canada
- INDUSTRY: Financial Services
- SERVICES PROVIDED: 3D Tours and Visuals, Financial Services
The Client
Our client is a Canada-based virtual accounting company that provides hundreds of clients with bookkeeping, tax, and payroll services, financial statements, and analyses including risk, cash flow, projections, and forecasts.
Challenges
With over 500 customers, our client needed to increase their staff to manage the documents and recordkeeping associated with being a registrar.
In addition, our client needed assistance with expanding their business to include estate planning.
How Paragon is Helping
- Coordinated and managed the annual documents submission process for each of our client’s customers
- Submitted invoices to customers
- Kept track of all documents, invoices, payments, etc. using our client’s own accounting system
- Bi-weekly follow-ups for all outstanding documents and payments
- Prepared monthly management reports such as 3- month Cash Flow Projections, Bank Reconciliation, Income Statement, and AP/AR Aging
- Provided payroll, payables, and reporting/projections
- Lead generation for our client’s estate planning business using data mining, email campaigns, and phone outreach
Results
- Our client has been able to scale up their business, growing their number of accounts by 20%
- Decrease in staffing costs improved their net profit by 85%
- Significantly improved accuracy of their financial reporting services, as per our client
- A quicker month-end and year-end close timeline
- Decreased reliance on manual reporting efforts by automating processes
Knowing that Paragon had our backs, we were able to focus on growing new business instead of allocating valuable resources to servicing our accounts.
They are easy to work with and always provided high
quality deliverables.
