F&A SSO Services

F&A SSO Services

The Challenge:

SSO Accounting services for Novacomp were needed.

  • Novacomp was in need to create a separate unit to manage their accounting services.
  • Novacomp wanted to focus on their core Software Development services 5 years ago and decided to extablish a partnership with a local accounting firm to provide accurate and trustworthy financial accounting services.
  • Novacomp had already been expanding and managing the accounting services of the sisters company's accounting (NovaTesting,Innovative, ITQS), was a challenge.

The Engagement:

A spin-off to create an accounting firm proved to be effective.

For the last 5 years, Novacomp partnered up with an already existing Accounting Firm QF & Associates in order to provide and cosume the following services:

  • Financial Administration: Including Cash Flow projections, recommendation of new funding avenues, provide banking and provider{s required information, etc.
  • General Administration: Inventory of tangible and intangible assets, amortization and depreciation strategies.
  • Tax Advice: Creation of all tax forms for enterprises, free trade zones for local and international operations.
  • Auditing and Consulting: Preparation for IRS and Social Security auditing.
  • Accounting Services: Accounting statements to internal and external clients. Payroll services. Coordination with foreign accounting firms to generate the Overall Group´s statements.

The Benefit:

    Expansion of the SSO services to external clients.

    • As an added benefit, the spin-off evolved into a group of 12 accountants and an expansion of the Group’s customer base to a solid 8-10 important concurrent clients.
    • The new clientele ranged from Software development firms, Data Analytics consulting, Mobile services firms, among others.
    • The services provided included services given to remote offices from the existing clients, located in Mexico, Panama, Chile and the United States.
    • The Novacomp group of companies benefited from having standard accounting statements and a consolidated platform for auditing and reporting.

    Key Technologies:




    Data Feeds / Integrations:

    SLAs and NDAs signed by both the firm and the client

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