JWW Accounting Office

BACKGROUND

Please describe your company and position.

I am the CFO of Piwik PRO

Describe what your company does in a single sentence.

Piwik PRO makes powerful, privacy-compliant analytics software and offers high-touch support, so customers can get the most out of their data.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire JWW Accounting Office to accomplish?

• JWW was hired to take care of accounting and payroll services. Our goal was to outsource accounting and payroll services and focus on development of our Company

SOLUTION

How did you find JWW Accounting Office?

Referral

Why did you select JWW Accounting Office over others?

High ratings, Close to my geographic location, Good value for cost, Referred to me

What was your primary form of communication with JWW Accounting Office?

In-Person Meeting, Email or Messaging App

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

Cooperation in the field of accounting, HR and payroll services, reporting domestic and international economic operations, financial analyses, ongoing supervision over payments, preparation of financial statements and close cooperation with the statutory auditor.

RESULTS & FEEDBACK

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

• JWW was hired to take care of accounting and payroll services. Our goal was to outsource accounting and payroll services and focus on development of our company

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

Open communication, high responsiveness, keeping to deadlines for month-end closings.

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

JWW Accounting Office offers more than traditional accounting. The experts cooperate closely with the Management Board and undertake to prepare precise reports in accordance with international standards. A quick response to inquiries, the ability to perform in-depth analyses and an understanding of the financial market is crucial support in running a business, which we receive from JWW Accounting Office.

Are there any areas for improvement or something JWW Accounting Office could have done differently?

Use a tool that would allow online (read-only) access to the data/books.

BACKGROUND

Please describe your company and your position there.

Tivix was founded in the heart of the Silicon Valley in San Francisco. Following its steady growth, it expanded its activities to regional offices not only in Europe, but also in Asia. The company develops web, cloud, and mobile applications to help organizations create and sustain digital innovation. Tivix's customers are a mixture of global corporations, smaller companies and large NGOs.

I'm the Head of HR and Administration for Tivix Europe Sp. z o.o., based in Wrocław, Poland. My duties include company and HR administration on a wide scale and I'm the person responsible for contacts with JWW and coordination of their activities/tasks regarding accounting, payroll and company business issues (taxes, law regulations, etc.).

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire JWW Accounting, and what were your goals?

Nine years ago, after the Polish entity was established, we needed an accountant and payroll provider for our growing team. Our goal was to find a professional company that will provide us with top-quality accounting and advisory services.

It was very crucial for us to find a vendor that knows Polish accounting law very well, understands how IT companies operate, can communicate well in English and can do the regular bookkeeping of a software development company, as well as explain all the Polish accounting and tax law intricacies to our US Management Board.

SOLUTION

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

We searched online and did a review of a few companies. JWW Accounting seemed to be the most professional and trustworthy.

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

First - we met with JWW a few times to discuss our goals and expectations and to make them familiar with our structure, daily operations and the type of business services we provide to our clients. They thoroughly explained Polish accounting law to our US Director for Operations & Finance. After that they prepared an offer and an agreement draft. When we settled all the details, our collaboration started.

We send them monthly accounting and bookkeeping documentation and contact them regularly when there is a need to clarify some tax, bookkeeping, accounting or reporting issues. In return they send monthly accounting reports directly to our US-based Management Board as well as our India-based parent company. Our communication is very smooth, either on the phone, by email or via a video conference.

Whatever we discuss and agree on, there is always an email with all the discussed details afterwards. They also provide monthly financial reports and agreed to do it in the form that is the most convenient for us.

Describe their billing or cost structure.

The bill consists of a fixed part for bookkeeping and additional fees for other things (e.g. payroll, annual report, statistic reports, e-bank transfers, etc.). At the beginning there was a small lack of clarity on how payroll was invoiced, but we clarified it successfully. JWW Accounting respond to our requests for negotiating the fees.

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

At the beginning we had a lot of contact with the founders (and owners) of JWW and they were very patient with us and our expectations, requests and questions. Then, we were assigned an English speaking accountant dedicated to work with us. The accountant with good English communication skills was not available to us immediately, we had to wait for such a person, but it was worth waiting.

Since then, our cooperation has been very smooth and successful. The accountant who is in charge of our company is also a team leader and she is a very reliable person. We’re also in contact with the payroll team and their leader. They answer all our questions patiently and give their advice when needed.

RESULTS & FEEDBACK

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

Thanks to the constant contact with the accounting department and the regular preparation of several financial analyses in English, our company can quickly and efficiently assess its financial situation, which is particularly important due to the need for reporting to other branches. The support we receive, based on our knowledge and experience, saves us time in organizing our duties.

Thanks to the solid support that JWW offers us, we can do what we are best at, without worrying about financial duties, which remain in the hands of professionals. Based on our business model, we have a large VAT return every quarter and JWW prepares and guides it, as well as frequent audits throughout this process.

They have done this successfully for several years. When our parent company based in the US was acquired by a larger International company, JWW was very helpful in preparing various accounting documents for the Due Diligence process.

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

We communicate mainly electronically, but also via telephone, which is very convenient for us. If necessary, we can also have a video conference. They are always available. In the past, when we had to discuss details of our cooperation we had in-person meetings, in their or our offices. All the required deadlines are met by them.

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

We have been impressed by their accounting knowledge, meticulousness, and accuracy. Whenever we have questions or doubts she is very helpful and handles our requests very professionally.

In the past, when we used to contact one of the founders directly, he was also very helpful and well-informed. JWW Accounting keeps up very meticulously with frequently changing Polish accounting and payroll law and they help us implement the changes in advance.

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

While, at the beginning of our cooperation, several years ago, there were some areas for improvement, now everything goes smoothly and we have worked out our most-efficient model of daily collaboration.

BACKGROUND

Please describe your company and your position there.

I'm a CEO of a software development company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire JWW Accounting?

Our previous vendor was a small accounting company that had no previous experience with working with the IT services company like our. We collaborate mostly with abroad customers so the accounting is a bit more complicated.

We were not happy with the previous vendor because they were not delivering on time, the services were rather poor and the price was high. We hired JWW as a replacement because they looked more pro and experienced enough to provide accounting services for us.

What were your goals for this engagement?

The goal was to clean up the mess with the books and have a reliable accounting services.

SOLUTION

How did you select JWW Accounting?

We found them via Google. We selected them because they were already providing similar services to other IT companies.

Describe the engagement in detail.

First - we meet to discuss our goals and expectations. After that we were negotiating the agreement. After that they took over our accounting. Everything went smoothly, they provide monthly reports and they answer our questions almost instantly.

Describe their billing or cost structure.

The bill consists of a fixed part and additional costs related to amount of work needed. Everything is clear and the prices are reasonable.

What was the team composition?

There is one accountant that is assigned to us and also some additional team members that are specialists in other areas like labor law etc.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

We're happy with the cooperation. They sort out all of the outstanding issues regardless of the fact the previous accountant was not cooperating at all.

How effective was the workflow between your team and theirs?

It's very effective, there's good and quick communication, they're experienced and they know what they do which is not always the case with the accounting companies:)

What did you find most impressive about this company?

I really like working with Mrs. Anna who's our primary contact. She's responding really quickly to all emails, she prepares the reports and she's always happy to answer additional questions via phone if needed.

Are there any areas for improvement?

There's one thing. At some point they changed an invoicing software and started to charge us more than the agreement states. We figured that out after around 6 months of paying overvalued bills.

It took them some time to clarify (around 1-2 months) but eventually they admitted that it was a mistake and they substracted the overpaid amount from the next invoice. I think they should do more - give a small discount for the next 3 months or something like that.