Title: Building a custom offshore accounting team for a retail grocery chain
Introduction:
Connext is a leading provider of customized outsourcing solutions for businesses worldwide. In this case study, we will explore how Connext helped a Hawaii-based grocery chain overcome staffing challenges, access new levels of talent, and streamline their accounting processes by creating a custom, dedicated accounting team in the Philippines.
Background:
The Hawaii-based grocery chain was experiencing significant growth, but their internal accounting department was struggling to keep up with the increased workload. They were having difficulty finding qualified accounting professionals locally, and the high cost of living in Hawaii made it challenging to retain staff. The company recognized that they needed to explore alternative solutions to maintain their financial operations.
Creating a Custom Accounting Team:
After researching outsourcing options, the grocery chain decided to partner with Connext to create a custom accounting team based in the Philippines. Connext worked closely with the company to understand their specific needs and requirements, and designed a team of dedicated accounting professionals who were trained on the company's accounting processes and software.
The Connext accounting team handles accounts payable and accounts receivable processes, invoicing, bank reconciliations, and other accounting tasks. By outsourcing these critical functions to the Philippines, the company was able to access new levels of talent and expertise that were not available locally.
Solving Staffing Challenges:
One of the biggest challenges that the grocery chain faced was staffing their accounting department. The cost of living in Hawaii made it difficult to retain staff, and they struggled to find qualified accounting professionals to fill vacancies. By partnering with Connext, the company was able to solve these staffing challenges. Connext was responsible for hiring, training, and managing the accounting team, freeing up the company's internal resources to focus on other areas of the business.
Accessing New Levels of Talent:
Another advantage of partnering with Connext was the ability to access new levels of talent in the Philippines. The Connext accounting team is made up of highly skilled professionals who are trained on the latest accounting software and processes. This allowed the grocery chain to take advantage of best practices and expertise that were not available locally.
Shifting Burdensome Work off Local Employees:
By outsourcing accounting processes to the Philippines, the company was able to shift burdensome work off of their local employees. This allowed them to focus on higher-level accounting tasks, such as financial analysis and strategic planning, that added more value to the business. The outsourcing of the day-to-day accounting work also allowed local employees to focus more on customer service, inventory management, and other critical operational functions.
Results:
By partnering with Connext, the Hawaii-based grocery chain was able to significantly improve their accounting processes and access new levels of talent. The outsourcing of critical accounting tasks allowed the company to shift burdensome work off of their local employees and free up internal resources to focus on other areas of the business. This led to increased efficiency, productivity, and profitability.
Conclusion:
Overall, the partnership between the Hawaii-based grocery chain and Connext was a success. By creating a custom, dedicated accounting team in the Philippines, Connext was able to help the grocery chain overcome staffing challenges, access new levels of talent, and streamline their accounting processes. As a result, the grocery chain was able to focus on their core business functions and continue their growth trajectory.