Ambit Tax & Accounting

BACKGROUND

Introduce your business and what you do there.

I’m the founder and owner of Chief Financial Partners, a business consulting company. We provide fractional CFO services, accounting, and bookkeeping. We also provide digital marketing and PR services.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Ambit KPO Services?

We hired Ambit KPO Services for their bookkeeping services.

SOLUTION

What is the scope of their involvement?

Ambit KPO Services provides bookkeeping services for our clients. Key technologies being used are QuickBooks, Zero, and Wave.

What is the team composition?

Right now, we have six full-time staff and one part-time from Ambit KPO Services; two of them are accounting managers, two are senior accountants, and three are junior accountants.

How did you come to work with Ambit KPO Services?

We found them on Upwork. We selected them because they were responsive and worked with East Coast hours. Their rates were good as well.

How much have you invested with them?

We pay them about $10,000 a month, so that’s about $120,000 annually.

What is the status of the engagement?

We began our partnership in February 2022, and it's still ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

With Ambit KPO Services’ help, we’ve seen an increase in revenue. Their work is accurate, and they’ve met all our expectations so far.

How did Ambit KPO Services perform from a project management standpoint?

They're very good at project management — they always deliver tasks on time. Moreover, they respond to us instantly whenever we reach out to them through WhatsApp or phone calls. We also use email, Zoom, Telegram, and Slack for communication.

What did you find most impressive about them?

They’re good at hiring highly skilled people because I haven't had issues with any of their staff. Also, we like the fact that their team always works hard and delivers on time.

Are there any areas they could improve?

They probably need one or two more senior-level staff. If they could increase their hours to West Coast hours, that would also be very helpful.

Any advice for potential customers?

Make sure to have one point of contact from Ambit KPO Services’ team. Also, use WhatsApp to have frequent calls and meetings with them.

BACKGROUND

Please describe your company and your position there.

We are a full service accounting and tax CPA firm.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Ambit KPO Services, and what were your goals?

We contracted with Ambit to provide outsourced support for our bookkeeping and tax clients. Ambit manages the data entry for bookkeeping and assists in preparing tax returns so that we can focus on client relations and quality control during the review process.

SOLUTION

How did you select this firm and what were the deciding factors?

We started working with Ambit at the start of our firm. We were on a limited budget and needed a support team that could be flexible as we grew our United States accounting team. Due to their flexibility and ability to accomodate our needs, our relationship grew into a seasonal arrangement to year around ongoing engagement.

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

Ambit provides backend bookkeeping and tax services for our client base of business owners. Ambit was very flexible at adapting to our suite of software including Quickbooks, Drake Tax and TaxDome which manages our workflow and processes.

Describe their billing or cost structure.

Ambit has pricing that is very flexible and accomodating for our needs. From the onstart, Ambit has been supportive of our growth and willing to grow and adapt their processes and team as we have continued down our own growth path.

How many resources from the firm's team worked with you, and what were their positions?

At any given time, there are probably upwards of a dozen team members working with our client base, from accounting, review work, tax work and other services that we continue to add as we expand our firm's capabilities.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

What I appreciate, was that they were always willing to adapt to our preferred processes and way of handling our work. We are very particular about the way that our accounting and tax work is managed as well as the level of detail required to substantiate our end results for our clients. Even if they are unfamiliar with a process, they are always willing to learn, adapt and continue to support our success.

Describe their project management style, including communication tools and timeliness.

We have tight deadlines that must be adhered to on a monthly basis for our client base. Our clients expect monthly financials in a short turnaround of time. Our team communicates with there team through messaging applications, email and zoom. They have strong processes for the communication between our team and theirs.

What did you find most impressive or unique about this company?

What impressed me most, was Ambit Co's desire to be most interested in creating a relationship that would serve long term, even if it meant less than ideal terms in the short term.

Are there any areas for improvement or something they could have done differently?

In a perfect world, their team would understand our exact needs without having to commit time to teach our processes and way of managing accounting and tax. However, no matter where you are at in the world, this is not realistic. I do appreciate that they compensate for this with overcommunication and the willingness and eagerness to always learn and expand their knowledge base of competencies.

BACKGROUND

Please describe your company and position.

I am the Tax manager of LBNS

Describe what your company does in a single sentence.

General accounting, tax and bookkeeping

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Ambit Tax & Accounting to accomplish?

• Handle our diverse bookkeeping portfolio
• Special tax preparation issues
• Valuation reports

SOLUTION

How did you find Ambit Tax & Accounting?

Referral

Why did you select Ambit Tax & Accounting over others?

• Pricing fit our budget
• Great culture fit

How many teammates from Ambit Tax & Accounting were assigned to this project?

6-10 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

Reviewable financial reports

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

See previous

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Always on time and on budget

What was your primary form of communication with Ambit Tax & Accounting?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

Their communication skills are excellent.

Are there any areas for improvement or something Ambit Tax & Accounting could have done differently?

no