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How a retail chain reduced their salary expenses on accounting staff by 40%.

Introduction: A small retail chain had five accountants working in the accounting department. They were responsible for accounts payable, purchase invoices, inventory, bank and credit card reconciliation.

Requirement: Resignation by two accountants triggered the idea of outsourcing a part of accounting function.

Solution: EKM offered a 10 hour free pilot to the retail chain which they used as testing for punching of purchase invoices and reconciliation. On the successful completion of pilot, EKM started with weekly reconciliation of bank, credit card and vendors. In second month of outsourcing, retail chain also outsourced the punching of purchase invoices.  

Achievement: The client is now using EKM’s services for its complete bookkeeping requirement. Apart from cost saving, client is ensured the continuity of the work. No more pending work due to leave taken by employees, resignations etc.

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