Encover Customer Success Story



Challenge

Encover is a leading BPO company with a team of over 100 professionals. Started as an enterprise software vendor, it gradually transformed into a software-as-a-service provider. A client list including names like Cisco, Sonicwall, Juniper, Kodak and many others indicates the rapid strides it has made. However, this rapid growth brought with its own set of challenges.

Encover’s biggest challenge was to cut down on its selling, general and administrative expenses and reduce the cash burn. What it needed was a solution that would directly impact their profitability.

Their second challenge was to add value to their services by integrating finance and accounting solutions with their comprehensive offering. The key here was to create a low-cost solution, which would be scaleable with volume and would call for minimal up-front investment from Encover.

The Accelcia Solution

Accelcia Business Services used a five-step strategy that would ensure economy as well as effectiveness.

• Fully document as-is processes.

• Set up new processes to facilitate growth without being hindered by accounting / recordkeeping / administrative burdens.
  
• Apply technology, improve and streamline processes, and document the ideal to-be processes.
  
• Apply Six Sigma techniques to identify critical to quality factors, and checklists to ensure repeatable zero-defect delivery.
  
• Deploy combination of offsite-onsite resources to ensure rapid and seamless transition of processes.
  

Impact

The results were almost immediate. Encover benefited from an immediate reduction in its internal finance, accounting and administration costs by 40%. The Accelcia solution also eliminated tedious paperwork for Converted Accounts Payable, Travel and Expense Reimbursement processes and automated them. This resulted in a 45% reduced cycle time on the processes. Other benefits included automation of the ‘Invoice to customer process’ (reduced cycle time by 4 days) and ‘Month-end close process’ (reduced cycle time by 7 days).

Accelcia’s solutions also helped Encover offer outsourced finance and accounting solutions. This translated into a 50% cost saving for their clients. Moreover, it was fully scalable and required zero up-front investment from Encover.


“Accelcia has brought significant discipline and repeatability to our back office processes, while significantly reducing our G&A costs. Their methodology and flexibility is very impressive.”

Chip Overstreet
CEO, Encover

Genius Customer Success Story



Challenge

Genius is a growing software-as-a-service company in the CRM space. Its technology helps customers convert prospects to qualified leads to customers. Clients include WebEx, ScribeStudio, PrintRunner and Macromedia, along with various major biotech companies. Like any other growing concern, its biggest challenge was to develop processes that could keep pace with its growth.

Genius wanted to cut down on its G&A costs without hindering growth. It wanted to establish scalable Finance and Accounting processes, which could adapt to changing business needs. Additionally, there was a pressing need to stabilize back-office processes and improve sales support and management.

The Accelcia Solution

Accelcia employed a strategy that would help Genius reduce costs and streamline their processes.

•  Fully document as-is processes.
   

• Set up new processes to facilitate growth without being hindered by accounting / recordkeeping / administrative burdens.
  
  
• Apply technology, improve and streamline processes, and document the ideal to-be processes.
  
  
• Apply Six Sigma techniques to identify critical to quality factors, and checklists to ensure repeatable zero-defect delivery.
  
• Deploy combination of offsite-onsite resources to ensure rapid and seamless transition of processes.

Impact

Accelcia’s strategy yielded rich dividends for Genius. It saved up to 40% of its revenues on its Finance and Accounting costs. Its Travel and Expense Reimbursement processes were automated, thus reducing the cycle time by 45%. Further, processes were streamlined and/or automated in the following areas:

• Recording revenue & bank reconciliation – reduced cycle time by 4 days.
• Month-end close – reduced cycle time by 3 days.


“Accelcia has been a critical component of our rapid growth, from providing a part-time CFO to enabling most of our critical finance and accounting processes to run smoothly. The Accelcia model is a huge boon to highgrowth firms like ours, where we need to rely on flawless execution across all functions while managing the bottom line.”

David Thompson
CEO, Genius.com Inc.