Escrow Consulting Group

BACKGROUND

Please describe your company and your position there.

The company originally TitanSoftwareSoltuins and later Lycus Labs used to provide software plugins for digital content creation apps like 3ds Max. We worked with Turbosquid Inc, Laubwerk GmbH and a few smaller companies. At our peak we were close 25 employees. I was the owner and lead the entire team.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Escrow Consulting Group?

All of our accounting, taxes and general accounting were managed by Escrow Consulting Group.

What were your goals for this engagement?

Bookkeeping, Taxes, managing payrolls, invoicing, company registration and everything else related to accounting and finance was to be managed by Escrow Consulting group.

SOLUTION

How did you select this vendor?

Recommendation from my mentor.

Describe the engagement in detail.

The arrangment was pretty simple anything accounting or finance related would be handled by Escrow Consulting Group. It included day to day and one off tasks.

Describe their billing or cost structure.

The billing structure was simple. We would pay a fee for one off tasks and I had negotiated a monthly fee for the day to day tasks. That we reviewed as the company grew.

What was the team composition?

I was mainly in contact with Jahangir and being a tech guy I prefered having a single contact. I was aware that he got help from two other accountants when the workload got too much.

RESULTS & FEEDBACK

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

Everything went smoothly with them. One of the super helpful things they did for me was tax planning. I wasnt aware that software exports at the time had certain exemptions that we could claim. They had to register the company with a few government offices but we were able to claim the exemptions in the end. Which was one of the reasons for rapid growth.

How effective was the workflow between your team and theirs?

They used a project management software called asana, I dont know if they are still doing it like that but that made communication super easy. We could always review the progress of a project through there. Also things were easy because our point of contact was always available.

What did you find most impressive about this company?

Everything was done a bit ahead of time which was a bit unexpected. In our industry delays are the norm, so it was a pleasant surprise.

Are there any areas for improvement?

Overcommunication was a bit annoying at times. For instance during the registration for the company I recieved like 5 milestone emails. That could have just been one at the end.