With limited staff time, Resources and Technology

The problem A relatively new wholesale distribution company, a subsidiary of a well-known Japanese corporation, found that with the company growing so rapidly they were falling behind in their bookkeeping and only doing what was required.Before turning to POSI’s accounting services team, the company had a controller that was responsible for part-time processing of the company’s accounts payables (AP) and accounts receivables (AR).With limited staff time, resources and technology, the company faced the challenge of accurate insight into reporting, including balance sheets, income statements, and statements of cash flows on a monthly basis. This also affected the successful processing of accounts payables and accounts receivables, hindering visibility into critical areas needed to better understand business performance. Timely and accurate financial data was also critical for the parent company as a Japanese public company consolidating subsidiary companies.Our solutions Due to a working relationship with POSI’s tax service group since its business inception in the U.S., the client made the decision to also work with POSI’s accounting team. The client assessed the overall costs associated with either continuing to do their accounting internally or choosing to outsource their most of accounting with POSI’s accounting team. After evaluating different options, the client decided that POSI’s services were cost-effective and provided the added value that would bridge the gap of inefficiencies within their financial management processes. The client also recognized the value of POSI’s capability to communicate with accounting department of its parent company in Japan.The results By working with POSI, the client is now able to save time, money, and resources, while still having full access to their financial data. They have seen an increase in business productivity and are able to confidently make strategic decisions based on working financial models, and precise AR and AP processing. One of the biggest benefits the company has seen is timely and error-free financial statements, giving the client business leaders detailed, real-time insight into the company’s growth and long-term success which are also critical for its parent company as a public company. Through technological advancements, the POSI outsourcing team can be your complete back-office accounting team or fill scalable roles such as clerical back-office, controller services, and CFO advisory level depending on your organization’s needs.

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