Baltic Assist

BACKGROUND

Please describe your company and position.

I am the CEO & Founder of Scale3C

Describe what your company does in a single sentence.

Product development & outsourcing

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Baltic Assist to accomplish?

• Finance strategy
• Finance audit
• Accounting services

SOLUTION

How did you find Baltic Assist?

Referral

Why did you select Baltic Assist over others?

• Pricing fit our budget
• Great culture fit
• Good value for cost
• Referred to me

How many teammates from Baltic Assist were assigned to this project?

2-5 Employees

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

Baltic assist was onboarded as our Accounting outsource partner and later was expanded to come in and prepare full financial audit. Based on the audit findings, they have then prepared financial strategy document and continued consulting & monitoring our processes till we have reached certain KPIs & OKRs.

RESULTS & FEEDBACK

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

We have reduced our client debt by 58%, have received VAT from 6 different EU countries where we have provided different services or purchased goods & have established strict financial processes within the organization which ensures we can accurately & on time monitor, review & act upon different financial metrics like project profit margins, debt, investment allocation, staffing costs.

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

Yes, everything was delivered on the agreed timeline. It seems they have both account management & project management on a very senior level.

What was your primary form of communication with Baltic Assist?

• In-Person Meeting
• Virtual Meeting
• Email or Messaging App

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

What surprised me was their knowledge on so many different European markets, their tax laws & regulations.

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

Few of their colleagues could probably improve their English language skills. Apart from that, all went great.

BACKGROUND

Please describe your company and position.

I am the Owner, project manager of Carlsvig ApS

Describe what your company does in a single sentence.

Helping small complex companies, mainly in the Healthcare business, to scale up.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Baltic Assist to accomplish?

• Deliver shared Backoffice services to my clients.
• Optimize branch specific back office processes
• Implement BPO and RPA in small companies

SOLUTION

How did you find Baltic Assist?

Used before in an other company

Why did you select Baltic Assist over others?

• Good value for cost
• Company values aligned
• High service, understand our concept

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

Baltic Assist should be part of a branch network together with IT outsourcing partner, investors and people with branch knowledge to help complex companies to scale up. Most important work for this network is to build a branch business model / administrative foundation that both link strategy / goals with all the other elements of the company like processes, IT systems, reports ...making our clients ready to grow without to large financial risks. 

Deliverables: 

• Fine tune business processes based on Business Central and what already made in bOffice Denmark. 
• Be a part of implementation - and then be our companies main back office resources (not only finance). 
• Be a part of an optimization project and see how use of Business Central, BPO in general and RPA can be used to optimize Backoffice services in small companies.

RESULTS & FEEDBACK

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

Happy customers and high quality in the work done in time. Our customers should really feel that they can trust the people and the work done by Baltic Assist. Total cost should be on a reasonable level.

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

Project not started, but earlier most work done in time. Always with high quality.

What was your primary form of communication with Baltic Assist?

• Virtual Meeting
• Email or Messaging App

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

We're impressed by their work quality, flexibility, and ability to understand our concept.

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

Better status reporting so that companies can see what they get (like monthly reconsolidation sheets, reports showing when work done and checked, how many ordered handled ..)

BACKGROUND

Please describe your company and position.

I am the Product Lead of a wellness & fitness company

Describe what your company does in a single sentence.

Digital health and welness products

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Baltic Assist to accomplish?

• Development team

SOLUTION

How did you find Baltic Assist?

Referral

Why did you select Baltic Assist over others?

• High ratings
• Close to my geographic location
• Pricing fit our budget
• Good value for cost

How many teammates from Baltic Assist were assigned to this project?

6-10 Employees

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

Baltic Assist provided us with comprehensive app and web development services. Their team started with an in-depth requirement analysis, engaging in discovery sessions to thoroughly understand our business needs and technical prerequisites. Based on this foundation, they ventured into designing user-friendly interfaces for both our mobile application and website. 

The iterative process ensured that our feedback was incorporated and the designs resonated with our brand identity. Transitioning from design to development, they proficiently handled frontend development, crafting responsive web pages and ensuring compatibility across a range of devices. The mobile app, tailored for both iOS and Android, showcased their prowess in creating seamless user experiences. 

On the backend, Baltic Assist established a robust infrastructure, integrating APIs, managing databases, and ensuring efficient server-side operations. Quality assurance was evidently a priority; they undertook rigorous testing across platforms, addressing bugs and refining performance. Their support extended beyond the initial launch, offering post-launch maintenance and regular performance monitoring. 

Key deliverables, including comprehensive documentation, a responsive website, a cross-platform mobile app, detailed quality reports, and a forward-looking maintenance plan, stood testament to their holistic approach.

RESULTS & FEEDBACK

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

Post collaboration with Baltic Assist for our app and web development needs, we observed significant and measurable strides towards our organizational objectives. User engagement metrics, particularly average session lengths and page views, saw an appreciable uptick. This was further complemented by an encouraging surge in new user sign-ups, underscoring the intuitive design and functionality enhancements they implemented. 

Additionally, our website experienced improved load times, positively impacting our bounce rates and SEO rankings. The mobile application, launched on both iOS and Android platforms, garnered commendable reviews and ratings, reinforcing its stability and user-centric design. Perhaps one of the most tangible attestations to Baltic Assist's proficiency was the robust return on investment we realized, driven by both increased revenue streams and operational efficiencies.

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

Baltic Assist showcased exemplary project management throughout our collaboration. They utilized modern project management tools and methodologies, ensuring transparency, regular progress tracking, and effective communication. Their team was always ahead of the curve, often delivering items before the stipulated deadlines. 

This proactive approach not only ensured that the project stayed on track but also provided us ample time for reviews and feedback.

What was your primary form of communication with Baltic Assist?

• Virtual Meeting
• Email or Messaging App

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

One of the most impressive aspects of Baltic Assist was their holistic approach to problem-solving. Instead of offering cookie-cutter solutions, they delved deep into understanding our unique challenges and business ethos. This meticulous attention to detail translated into bespoke solutions that felt tailor-made for our needs. 

Their team exhibited a rare blend of technical prowess and business acumen, ensuring that the solutions they proposed were not just technologically sound but also aligned with our strategic objectives. Moreover, their commitment to transparent communication made the collaboration feel more like a partnership than a client-vendor relationship.

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

One area they could enhance is their documentation process. While the documentation provided was comprehensive, a more streamlined and user-friendly format could help clients, especially those not deeply versed in tech, to grasp complex concepts more easily.

BACKGROUND

Please describe your company and your position there.

We are a hotel developer, owner and operator with 2 locations in Prague and Budapest. I am CFO of the group.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Baltic Assist, and what were your goals?

We have a semi-complex integration procedure to upload data on a daily basis from our Hotel's Property Management System [PMS] to our accounting system based in NetSuite. We also have a high volume of bank statements requiring reconciliation within the Accounting System.

SOLUTION

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

I had used Baltic Assist in my previous company, and I found the team reliable, hard working and fast learning. For whatever reason, I was not able to recruit local talent as employees to handle the specific tasks.

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

Currently the scope involves downloading export data containing invoices from the PMS, pasting this data into a custom Excel file that transforms and outputs a file appropriate to import into NetSuite. Several steps must be performed to ensure data integrity. Also, approximately 10-15 active bank accounts over 5 entities must be continually reconciled.

Describe their billing or cost structure.

Billing is based on hourly and generally agreed monthly cap on cost.

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

CEO and Finance Account Manager are key contacts, but I interact daily with the team's accountants (2-3).

RESULTS & FEEDBACK

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

A key advantage is the accounting team successfully passes on training knowledge. Aside from the fact that their team members are highly familiar with many different accounting/ERP systems, they pass the specific knowledge of my system amongst themselves. Hence, I train one Baltic person once, and that Baltic person trains others within Baltic without burden on me to retrain.

This is a massive advantage over having direct employees. Baltic Employees also train remarkably fast on almost every topic I have engaged them with. Baltic is basically performing tasks that I have unsuccessfully trained my own internal team.

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

The onboarding process was arranged quickly by the accounting manager. A few hours of training was conducted by merely demonstrating tasks to be done. The Baltic staff picked it up quickly. We communicate almost entirely over Teams chat and email. Responsiveness is at least as fast as if I had an employee sitting in my own office.

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

Their pace of learning is faster than any I have been able to source locally. They are fluid with any kind of language, currency, law, tax, etc. They are able to carry forward effectively on minimal guidance and feedback.

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

I cannot say they are perfect, but I cannot think of any area worthy to comment for improvement. I intend to greatly expand our scope of cooperation in the near future.

BACKGROUND

Please describe your company and your position there.

I lead the HR function of a global fintech of 150+ people.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Baltic Assist?

Our company has gone through massive growth and as part of this effort, we opened up a Lithuanian office that operates as a compliance and customer service center. I was looking for a HR provider as well as recruitment partner.

SOLUTION

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

After approaching multiple companies providing HR and recruitment services, we realized that our company values, communication style and speed of delivery is a best match with Baltic Assist.

Describe the project in detail and walk through their service package.

Baltic Assist recruited and employed our entire Customer Service team that includes 15+ staff members, as well as contributed to recruiting multiple Compliance Analysts.

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

I had a HR Manager who did hands-on daily management, as well as a Recruitment Coordinator working on our project. To the best of my knowledge, they had a bigger team working on this, but my SPOC was their HR Manager which worked really well.

RESULTS & FEEDBACK

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

We are in the process of finishing the project and it has already made a great impact on our business. The Lithuanian team delivers high quality work and Baltic Assist handles all staff matters for us, so it is a very smooth experience for us.

How effective was the workflow between your team and theirs?

The communication was continuous and Baltic Assist has strong customer focus, hence our needs were always attended to on short notice. We are happy with how we work together.

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

Their ability to deliver efficiently is impressive.

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

Their ability to deliver - actions were at times a bit too fast and more thought could go into it, but really I can't possibly hold that against them since our speed is also insane most of the time :)

BACKGROUND

Introduce your business and what you do there.

I’m the CFO and head of operations of SONECT, a fintech specializing in the area of cash technology. We facilitate cash withdrawals for users from retailers. 

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Baltic Assist?

Baltic Assist is doing full-scope accounting for one of our subsidiaries in Lithuania. Our subsidiary has an e-money license to provide services across Europe.

SOLUTION

What was the scope of their involvement?

Baltic Assist is handling the company’s accounting, controlling, and reporting. They’re helping us with everything related to accounting and taxes for governmental bodies.

What is the team composition?

We’re working with an accountant and an assistant accountant.

How did you come to work with Baltic Assist?

I wasn’t part of the recruiting process but I believe that the head of our subsidiary was looking out for offshore accounting services.

How much have you invested with them?

We spend about €1,000–€1,500 (approximately $1,100–$1,700 USD) per month.

What is the status of this engagement?

We started working with Baltic Assist around January 2019 and our collaboration is still ongoing.

RESULTS & FEEDBACK

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

We’re quite happy with them and we plan on going forward with Baltic Assist. They’ve provided great services so far and they’re willing to expand their involvement over the next few months. We don’t have any metrics, but I’d definitely give them an 8/10.

How did Baltic Assist perform from a project management standpoint?

To my understanding, there’s no project management as such. It’s purely the execution of accounting and legal tasks in an offshore model. Overall, we have no issues with Baltic Assist's timing and delivery.

What did you find most impressive about them?

They’re open-minded and willing to deliver in a timely manner. If Baltic Assist can’t meet a timeline, they’ll explain the issue to us and ask for an extension in advance. They’ve never missed a deadline. It’s been a great partnership so far.

Are there any areas they could improve?

The main accountant is my contact for support and others just work internally.

Do you have any advice for future clients of theirs?

I’d refer Baltic Assist to any friends or colleagues in Europe that are looking for accounting services.

BACKGROUND

Please describe your company and your position there.

MATE Bike International is a start up E bike company based out of Copenhagen. Being a start up there were no resources to properly manage the daily operational tasks across departments.

Once the product established significant reach internationally, it was apparent that proper structure were required to service the thousands of customers across the globe. I am the Head of the Customer Service department and as such was hired to implement such structure and establish standards of operations.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Baltic Assist?

MATE initially hired BA (Baltic Assist) for book keeping. The initial contract entailed BA managing the accounts. As MATE grew, the accounting contract grew to included a customer service resources. Both teams operated out of Lithuania and remained as such for the entire contract.

What were your goals for this project?

The account/book keeping side of the contract (With BA) was to have them manage the finance department and make sure the accounts were balanced and the bills were paid.

The customer service side of the contract (With BA) was to make sure that all customers were responded to in a timely manner and for MATE to gain reputable service recognition. BA was hired to have a team answer live calls and emails in regards to customer inquiries about the e bike.

These inquiries ranged from general logistical issues, to technical diagnostics of the electrical components of the bike to duty/VAT payments for the shipment of the product to pass through various countries.

SOLUTION

How did you select this vendor?

The contracting of BA was already in play when I was hired. I am unable therefore to comment on the process of how it came to be.

Describe the project in detail.

The account/book keeping side of the contract (With BA) was to have them manage the finance department and make sure the accounts were balanced and the bills were paid.

The customer service side of the contract (With BA) was to have a team answer live calls and emails in regards to customer inquiries about the e bike. These inquiries ranged from general logistical issues, to technical diagnostics of the electrical components of the bike to duty/VAT payments for the shipment of the product to pass through various countries.

What was the team composition?

The accounting team consisted of a team lead, who then delegated and managed a team of 4 to 5 others who actioned financial transactions on behalf of MATE.

The customer service team consisted of 4 champions, each in charge of their own teams ; Logistics, Tech, WebShop & Shipping payments(duty/VAT). Each champion were experts in their own fields and managed fluctuating (depending on MATE requirement) a few individuals in each team.

The 4 champions then reported to me, MATE's Head of Customer Service in Copenhagen.

RESULTS & FEEDBACK

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

As I am the Head of Customer Service I will not be able to comment on the accounting aspect of the agreement with BA, except to say that they always conducted themselves with the utmost professional conduct and executed tasks (having acquired approval from HQ in Copenhagen) in a timely manner.

As for the customer service aspect, the 4 champions , Monika (Webshop) , Ugne (Tech), Gabriele (Logistics) and Marija (Shipping payments/FIN.) have managed and executed tasks set to them with speed and accuracy. They required little (if at all) monitoring and demonstrated efficiency and were always prompt when delivering on tasks.

How effective was the workflow between your team and theirs?

Smooth and productive, as with all teams, I believe if everyone respects and understands the qualities and capabilities of each other, the team prospers.

Which is what happened here. As a leader it was my job to provide support and guidance to ensure the team had whatever resources and information they needed to perform their tasks to the best of their abilities.

As team members, they were prompt and cooperative in communicating such needs to ensure the achievements of their KPIs. It ran like a well oiled machine.

What did you find most impressive about this company?

The individuals hired are conducive to the roles they are to fill. Each individual has their respective strengths and are assigned to projects accordingly.

Are there any areas for improvement?

Hire more international candidates for roles in international companies. Expand to include services to Asia and the United States.

BACKGROUND

Introduce your business and what you do there.

I’m the managing director of Palliance. We develop and sell medical home care products to pharmacies, distributors, hospitals, and clinics in the Nordic region.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Baltic Assist?

We wanted a scalable back-office operation and to ensure sufficient service in our shipping process and our order and logistics process. We engaged Baltic Assist to provide that support.

SOLUTION

What was the scope of their involvement?

Baltic Assist provides low- and mid-level financial accounting and supply chain support. The team registers ledgers and vouchers, handles invoices, and does financial reporting services. They also provide customer support to our logistics branch. Baltic Assist receives and confirms orders from customers, communicates with our warehouses, orders products from our suppliers, informs customers of arrival dates, and sends invoices.

What is the team composition?

We work with an operations manager who serves as our intermediate point of contact. We’ve worked with two junior- to senior-level accountants, a senior managerial accountant, and a virtual assistant who handles customer service and logistics. Our retainer contract comprises a different set of team members.

How did you come to work with Baltic Assist?

I found them online and reached out to their managing director. Our initial conversation impressed me, so we accepted their quote and oversaw a test period with their team. We then contracted them for this project.

What is the status of this engagement?

We started working together two years ago, and the partnership is ongoing.

RESULTS & FEEDBACK

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

Baltic Assist helps reduce the level of detail and number of transactions I need to involve myself in, which is extremely helpful. We’re thrilled with their work so far, especially for accounting and financial reporting. They’ve run into some challenges with order logistics on occasion, but that’s a complicated process to learn, and they’re always willing to address their mistakes. We’re increasing their involvement and giving their team more responsibility in our day-to-day functions.

How did Baltic Assist perform from a project management standpoint?

The team is open to feedback and willing to understand and solve challenges. They excel at communication and keeping deadlines. We use Slack for daily communication, Asana for task management, HubSpot for time reporting, and Skype or Appear.in for online meetings. Once a year, we meet face-to-face.

What did you find most impressive about them?

They provide high-quality service and always try to solve problems as they come up.

Are there any areas they could improve?

We’ve mentioned this to them on several occasions, but I would like them to take the initiative more often in their role. That way, I wouldn’t have to manage every task and follow up as often. As it is, things sometimes fall between the cracks. However, this is not an unusual issue, and we’re otherwise happy with our collaboration.

Any advice for potential customers?

Make sure that your communication is open, consistent, and clear.

BACKGROUND

Introduce your business and what you do there.

Orderyoyo does software development for takeaway restaurants. Our software packages include an app and a website, which they can use to collect customer orders online. There is also a marketing package that focuses on search engine ranking, customer engagement, social media, and so on. I’m the finance manager.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Baltic Assist?

Three years ago, our company was a startup in the seed funding stage. At the time, we had an external accountant doing all our financial reporting, but she wasn’t a good job. We had to find a replacement.

We later expanded this to include outsourcing our customer onboarding to them. It had previously been done by a different outsourcer, but, again, the quality wasn’t good.

SOLUTION

What was the scope of their involvement?

They do all our book-keeping, VAT reporting, monthly financial reporting for the board, and an audit preparation once a year.

We also outsource some of our customer onboarding to them. Each of our customers’ menu needs to be imported into their website and app. That involves data-entry and transferring all the contents to digital, including the logo. There’s QA to make sure that all the prices and menu options are correct. We have standard templates that can be customized for each restaurant.

For a short period of time, they also provided customer support. We had a remote manager working alongside their resources, but we decided to bring this service fully in-house.

What is the team composition?

In accounting, we have four part-time people and for the onboarding, it’s 15. Of these, 7–8 were added in October 2018. For the onboarding team, there’s a team leader who has experience with leading a team.

Baltic Assist can scale up quickly, in terms of the full-time equivalents (FTEs) they can provide, which we really appreciate.

How did you come to work with Baltic Assist?

I researched accounting companies in Denmark and abroad. Baltic Assist seemed to have the best quality/price ratio. We got some very good reviews from the customers they already had. That meant that even though I didn’t know them personally, I was comfortable with proceeding.

Since then, I’ve found that they have very good pricing, compared to Denmark, and the quality is also really good.

What is the status of this engagement?

We started working with Baltic Assist in the summer of 2016 and the relationship is ongoing for accounting and onboarding.

RESULTS & FEEDBACK

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

On the accounting side, their work has increased the speed and accuracy of our monthly reports to the board. That’s created confidence with the finance department. Since we’ve been using their services for several years and across several fund rounds, Baltic Assist has definitely positively impacted our company.

On the onboarding side, the quality of the menus and the fact that there are limited mistakes in their work contributes to us gaining a competitive edge over other companies that do the same thing. In moving from our old outsourcer to Baltic Assist, the quality has dramatically improved.

How did Baltic Assist perform from a project management standpoint?

The performance of the accounting team is excellent. We work based off of a checklist every month. I send them tasks, and they always deliver on time.

They’re very responsive. We use Slack for communication, even during weekends and sometimes after office hours. They promise 24/7 availability for accountants on their website. If we write to them at midnight near a deadline, they will respond. I’m very happy about that.

The menu part isn’t my responsibility, but my department manager is very happy. The KPIs defined for that department are mostly met. As we’ve grown, we’ve found it a challenge to recruit new people who are right for the job. That’s another benefit of working with Baltic Assist.

What did you find most impressive about them?

Their work ethics are impressive. They’re committed to what they do for us, despite being an outsourcing company. We feel that they’re part of our organization and we have a good relationship with them.

They’re smart, and they’re able to attract talent. In terms of accounting, I’m working with two people in particular, who are very good accountants and book-keepers. It’s impressive that Baltic Assist can recruit talent so fast and so effectively.

Are there any areas they could improve?

After some rotation in 2017, the accounting teams are now stable, which is good. Even when there was a rotation, the replacements were done on time. It was only the fact that we had to do the training all over again that was a bit annoying.

On the customer support side, the discontinuation was only due to the manager’s preference. However, he wasn’t happy about the communication, with regards to a termination. There was also some rotation there that he wasn’t notified about immediately.

It seems the communication about these things at a senior level could be improved. Baltic Assist’s agents or virtual assistants are very responsive, but, when it comes to more senior resources that implement big changes, there could be better responsiveness.

BACKGROUND

Please describe your company and position.

I am the Managing Partner of In-Motion Software

Describe what your company does in a single sentence.

Build, implement and support core company applications such as ERP, CRM and WMS.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Baltic Assist to accomplish?

• Create a cost-efficient, talented team to build a next-gen ERP system

SOLUTION

How did you find Baltic Assist?

Online Search

Why did you select Baltic Assist over others?

• Great culture fit
• Good value for cost

How many teammates from Baltic Assist were assigned to this project?

2-5 Employees

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

Baltic Assist helped us in finding and retaining a talented and cost-efficient team in Lithuania.

• Hire talented people with the right skills and mindset
• Flawless onboarding
• Great amenities and office
• Training week

RESULTS & FEEDBACK

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

• Hired 3 people in 3 weeks
• Flawless training week, great place to work and retained employees
• profitable in 2,5 months

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

Greatness in not just a word. At Baltic Assist it's a reality. 

On time, pivotted when needed, quick follow-ups.

What was your primary form of communication with Baltic Assist?

• In-Person Meeting
• Virtual Meeting
• Email or Messaging App

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

They underpromise but over-deliver.

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

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