FAQ's

What does BPO Consulting stand for?

BPO is an acronym for Business Process Outsourcing. Traditionally, Business Process Outsourcing has been a management tool available only to large companies. These companies saved millions of dollars by outsourcing their non-core functions, such as accounting, finance and Human Resources to specialized service providers. BPO Consulting Corp. provides outsourcing of these back-office functions to small, mid-size and emerging growth companies.

What is BPO Consulting?

BPO Consulting provides business process outsourcing, consulting and accounting system implementation to small, emerging growth and concept-stage businesses. Employees of BPO Consulting include experienced CPAs, MBAs, accountants, and bookkeepers.

Does BPO Consulting provide non-accounting services?

BPO Consulting provides other "back office" services such as Human Resources. BPO Consulting also has a network of professionals who provide other "back office" services on a consulting basis. BPO Consulting can supervise these individuals on non-accounting projects and, if requested, can employ these individuals and offer a fixed price or hourly arrangement to our clients.

I am thinking about starting a business. Why do I need BPO Consulting?

BPO Consulting has consulted to many concept-stage companies. There are many important decisions that need to be made with the help of someone experienced with complex accounting, financing, business, and tax issues. One example is the preparation of financial projections to be included in the business plan. These projections are used to formulate a financing strategy and, upon funding, a tax strategy to minimize taxes. After funding, there are several other issues that need to be immediately addressed such as selecting affordable accounting software, establishing budgets, implementing policies, procedures and authorizations, registering the business with the appropriate local, state and federal agencies, establishing a month-end closing schedule to ensure timely, accurate financial statements. BPO Consulting has been involved with many concept-stage companies that have grown into multi-million dollar companies.

I have just started a business. Why do I need BPO Consulting?

Congratulations! There are now several issues that need to be discussed and actions taken. Some examples are the type of accounting software to be purchased and implemented (we always emphasize keeping this expense to a minimum, as most low end packages now offer much of the same functionality as the expensive, industry specific packages), the policies and procedures (who can buy what and how much can they spend), accounting policies (how and when do you recognize revenue), establishing a month-end closing schedules to ensure timely, accurate financial statements, compensation strategies (including stock options, restricted stock, employee benefits), establishing a filing system (believe us, this is extremely important and a good, neat, organized filing system saves much time and many headaches in the future), local, state and federal filings (Secretary of State, Sales and Use Tax, nexus issues, DOL filings), employee benefits. BPO Consulting consultants are experts in all of these issues and can provide you with efficient, affordable answers and solutions.

I already have a book keeper. Why do I need BPO Consulting?

Most bookkeepers do a great job. Remember though, they usually do not have the experience to address many of the complex issues that face small businesses today. Many of these issues do not surface until they become a problem. These issues, and there are many, will inevitably "rear their ugly head" at the most inopportune time, if ignored, or are not properly addressed. Bookkeepers record transactions, but often do not know the full implication of the transactions for financial statement and tax purposes. Also, many business owners do not have the background to properly train and supervise a bookkeeper. Bookkeepers can make bad decisions if there is no one to answer complex financial questions. We pride ourselves on building trust and rapport with our client’s staff and we are always reachable by phone. We strongly encourage them to contact us with questions or issues at any time.

I already have an accounting staff. Why do I need BPO Consulting?

Most accounting staff employees have limited work experience. They perhaps have worked at two or three other companies where they reported to a more senior accountant. They may now be reporting to the business owner who has a background in general business, engineering or sales – probably not finance or accounting. There may be many areas where these staff accountants do not have experience and need guidance. BPO Consulting can provide this guidance and management. This enables the staff accountant to grow and to gain the experience to properly address these issues. Eventually, the staff accountant can be promoted to Controller or CFO and then becomes a more valuable and dedicated employee. At that time, the talents of BPO Consulting may not be needed. This is a win-win situation. It is a win for BPO Consulting because we were successful in our mission, which is to help our clients grow, and a win for you because you now have an accounting staff that can bring you to the next level.

My accounting staff is not efficient. Why do I need BPO Consulting?

Assuming you spent much time and money to hire an accounting staff and at one time this staff was probably very efficient and responsive but perhaps due to a changing business environment, or a change of management, they have lost their edge. There is probably no need to fire the staff and hire a new one. You can then implement these recommendations using your staff, BPO Consulting, or any other consultant. There is no commitment to use BPO Consulting to implement these recommendations.

I just downsized and fired my accounting staff. Why do I need BPO Consulting?

Although your business size has reduced in terms of sales and number of employees, there are still bills to pay, payrolls to process, financial statements to prepare, bankers and investors to satisfy, business plans and projections to be updated, new sources of capital to be sought, analyses of costs to be completed, cash flows analyses to be prepared, etc. The need for timely, accurate, professional and, perhaps most importantly, affordable accounting and finance information is now more important than ever. The presence of a financial professional is also critical to keep the confidence of investors and bankers during these uncertain times. BPO Consulting can perform the routine accounting and bookkeeping functions and provide the higher-level (CFO and Controllership) assistance that is critically needed during these times. BPO Consulting will work with you to ensure that all of your needs are addressed in a timely and affordable manner.

Is there a minimum commitment required to use BPO Consulting?

No. We are committed to meet your needs. Our experience has taught us that every client is different and there is no "one size fits all" solution. We know that every company has a different culture and every CEO a different management style. We pride ourselves on being very flexible. We believe strongly in giving clients the flexibility to use BPO Consulting as much or as little as they feel comfortable and justified. We have clients who use us several days a week and other clients who use us a couple of times a year. Our commitment to serve these different clients is the same. We will always offer clients a fixed price, or hourly arrangement and give them the flexibility to switch from one arrangement to the other at any time.

Does BPO Consulting replace my auditor?

No. Your auditor is an independent, outside accountant that delivers audited or reviewed financial statements and is very important to the success of your business. BPO Consulting represents you and your business and should be considered your inside accountant. BPO Consulting works very closely with your auditor to ensure the audit process is efficient and affordable by preparing detailed and accurate workpapers for the auditors, attending to their many requests for information, answering questions, explaining and justifying the accounting policies, reviewing proposed adjustments to the financial statements, helping to prepare the footnotes and reviewing the auditor’s opinion. BPO Consulting has worked with all of the Big Four, most of the national and regional and several of the local CPA firms. We have an excellent working relationship with all of them. BPO Consulting is often referred to clients from these firms to ensure the accounting department is properly staffed and management is receiving timely and accurate financial information.

Will BPO Consulting do my taxes?

BPO Consulting believes that the audit firm should prepare your taxes. They have the expertise in the preparation and the filing of tax returns. BPO Consulting is very involved and experienced in advising clients on a tax strategy that will both minimize taxes and be compliant. This strategy is best done jointly with those responsible for preparing your tax return. In situations where there is not an audit firm, BPO Consulting can refer someone who will affordably and accurately prepare the tax return.

How much does BPO Consulting?

The cost is dependent on many factors, such as the number of hours involved, the function to be staffed, the project to be completed, the support staff available, the complexity of the situation, the risks involved, etc. BPO Consulting always ensures that the scope and the timing of the assignment are clearly defined and a budget established. BPO Consulting always offers an hourly or a fixed price arrangement. We feel strongly believe that our advice, experience and work ethic will result in savings and efficiencies that greatly exceed the fee paid to BPO Consulting.

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