Client challenge:Catalyst IT Solution was involved in providing the professional services company to assist their client in gaining control to their accounting system including payroll. Over the time of 3-years of client engagement, Catalyst’s IT role has been evolved tremendously from bookkeeping to a more consultative role of outsourcing, CFO, and HR management consultant. As the payroll grew, it’s obvious that there’s something wrong with invoices and payroll. There is a need for someone who gauges the employee’s performance along with hiring a more experienced accountant who can keep the finances on track.
What possible solution we suggested:As a company provides professional services, the staff expands continuously, so they needed a way to track their client’s work and support staff performance. Catalyst IT properly implemented an experimental tracking system with KPI to accurately track the billable time against deliverables. The tracking system has instantly made it easier to not only track billable time but also make sure that the potential clients were billed correctly. This system also realized which employees are top and bottom performers. Through “Average billable hour” the company easily standardizes its billing along with typically identifying the employees who are having trouble performing to required specifications. We instantly created a standard metric to gauge employee performance. By outsourcing our team, it became understandable that our client bookkeeper was not performing the job adequately. We have created an accounting manual to standardize the accounting procedures. Our client company was able to employ Catalyst IT as a private employment agency. We hire the most ideal candidate who can positively take over the accounting position. We were also able to train new hires offsite, so operations don’t get disrupted. Where catalyst It created value:
- We efficiently implemented the time tracking system to accurately track KPI.
- Provided effective HR strategies, active support to address staff issues.
- Created an accounting manual to standardize accounting procedures.
- Developed the “Billable hour system” to simplify billing and identify the tip and bottom performers.