Norwegian accounting firm
The Client
Our client is a leading accounting firm in Norway pursuing a growth strategy that was both flexible and cost-effective. Having learnt of the vast talent pool of accountants in Sri Lanka, their leadership resolved to identify a Sri Lankan based partner with the right cultural and strategic fit, to achieve their offshoring goals.
The Solution
Our client needed to address the increasing challenges in recruiting and retaining good accountants in Norway and planned to build an off-shore team with strong accounting skills to provide bandwidth for growth. They also wanted to release their project managers from routine tasks and increase ‘face time’ with customers to build better relationships with them. Their ideal solution was a strategy for growth with minimum investment in office space and IT infrastructure while having the flexibility to scale up and scale down based on volumes.
Scope
- Accounts Payable Management General Ledger maintenance (journals, forex valuation)
- Accounts Receivables processing
- Master Maintenance (Customer, vendor, material, GL master maintenance)
Challange
- Handling Norwegian documents and being familiar with the language
- Norway specific accounting rules and VAT guidelines
- Training our team on the Norwegian accounting systems Visma and Xledger
- Communication with the client’s partners to whom working with an off-shore team was a new experience
Business Benefits & Outcome
- Over 50 customers successfully transitioned to Infomate, freeing our client’s customer managers from routine tasks and enabling more time on advisory services
- We successfully compiled a glossary of terms and was able to surmount the language barrier using translation software and cultural familiarisation by an expatriate.
- Infomate team was able to respond to queries from client managers in Norwegian
- Time zone proved to be an advantage as Sri Lanka based infomate team was able to
- clear pending jobs prior to their start of the day in Norway
- Achieved 24H turnaround times in over 95% of the jobs submitted, ensuring timeliness in processing
- The client was able to seamlessly scale up and down based on resourcing requirements
- We ensured information security, based on Infomate’s ISO 27001 certification and adoption of Norway data protection act
- Sharing of best practices leveraging on Infomate’s access to the John Keells Group resources in IT and HR
- Accuracy score in excess of 99.8%
- Consistently high customer satisfaction scores
- Great chemistry between the teams and good cultural fit
- The client was extremely satisfied with the relationship and seeing it was a win-win partnership, introduced many other business associates and potential clients to Sri Lanka and Infomate. This, in turn, led to new clients for Infomate in the Nordic region
