MindSpace Outsourcing Services Pvt. Ltd.

BACKGROUND

Please describe your company and position.

I am the Chairman of VITALIS

Describe what your company does in a single sentence.

Business Consulting and Services.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• Our primary objectives in hiring MindSpace Outsourcing Services Pvt. Ltd included streamlining our accounting processes, ensuring timely and accurate payroll management, and obtaining strategic financial insights through their CFO services.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

• Online Search
• Clutch Site

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• High ratings
• Pricing fit our budget
• Great culture fit
• Good value for cost
• Company values aligned

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

 The scope of work included:

- Accounting & Bookkeeping: Complete management of our bookkeeping processes, including daily transactions, monthly reconciliations, and preparation of detailed financial reports.
- Payroll Services: Timely and accurate processing of payroll, including compliance with tax regulations and management of employee records.
- CFO Services: Strategic planning, budgeting, and cash flow analysis to help us understand our financial health and guide our decision-making.
- Financial Reporting: Regular delivery of financial statements and performance reports, enabling us to track our financial metrics in real-time. 

Key deliverables included accurate monthly financial statements, efficient payroll processing, and insightful financial analyses that assisted in strategic planning.

RESULTS & FEEDBACK

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

The measurable outcomes from our collaboration with MindSpace were impressive:

We saw a 60% reduction in the time spent on financial management tasks, allowing our consultants to dedicate more hours to client work and strategic initiatives.

Enhanced Financial Insights: The introduction of detailed reporting and financial analysis from their CFO services led to better resource allocation and a 20% increase in our profit margins over six months.

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

In terms of project management, MindSpace excelled in delivering all services on schedule. They were highly responsive to our requests and demonstrated a proactive approach in addressing any concerns, ensuring that we were always informed and aligned.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

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

What I found most impressive about MindSpace Outsourcing was their expertise in our industry. They didn’t just process our transactions; they understood our business model and provided insights that helped us optimize our operations.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

While our overall experience was very positive, one area for improvement could be their communication regarding potential challenges with software integrations. Early in our partnership, we faced minor issues linking our existing tools with their systems. Clearer upfront communication about these hurdles would have been helpful. However, they handled these issues efficiently, and I had minimal concerns moving forward.

BACKGROUND

Please describe your company and position.

I am the CEO of Beescribe

Describe what your company does in a single sentence.

BeeScribe is a social media platform that serves as a vast community bulletin board on a global scale, allowing users to occupy fairly proportioned areas to share and highlight content, fostering open discussions and news at different geographical levels while earning crypto tokens for their contributions

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• Reduce Tax Bill
• Bringing and organizing books up to date Margin calculations and pricing

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

Clutch Site

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• High ratings
• Pricing fit our budget
• Great culture fit
• Good value for cost
• Company values aligned

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

• I faced a significant tax bill that seemed unreasonable, and I sought assistance to resolve it since the regular CPA's approach was confusing. 
• Check up and organize books.
• Provide advising on margin calculations on products and services.

RESULTS & FEEDBACK

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

• They successfully adjusted my tax liability to a standard level; I shouldn’t have had to pay much tax on my crypto transactions. 
• They team were able to go through thousand of transactions and match them properly. 
• Reports completed. 
• Books are in good order and organized.
• Pricing on products and services established with proper margins calculated.

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

• They consistently delivered on time.
• They thoroughly communicated the next steps. 
• The most unexpected outcome was the surprisingly low tax bill at the project's conclusion and how they manage the accounting, which I was very pleased about.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

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

MindSpace Outsourcing Services Pvt. Ltd.'s creativity and expertise were impressive—a perfect combination.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

Nothing that I can think of. MindSpace went above and beyond my expectations.

BACKGROUND

Please describe your company and position.

I am the CEO of Dogtown Media

Describe what your company does in a single sentence.

We are a mobile technology studio focused on transforming ideas into mobile applications.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• We hired them for their accounting services.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

• Online Search
• Clutch Site

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• High ratings
• Pricing fit our budget
• Great culture fit
• Good value for cost
• Company values aligned

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

MindSpace Outsourcing Service Pvt. Ltd. provided us with accounting services. They helped us with our bookkeeping and tax preparation. They used QuickBooks to execute accounting tasks. Their support enables us to make well-informed business decisions.

RESULTS & FEEDBACK

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

We have experienced significant growth, and their assistance has been invaluable throughout. They’ve adapted as we expanded. Our accounts payable and receivable processes have become much more efficient and now operate at double the speed. Our tax strategy has been smoother compared to our previous CFO. 

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

Their performance has been excellent. They are fantastic in terms of responsiveness and communication. They joined us during a challenging period and have implemented new processes as we've scaled.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

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

Their flexibility, responsiveness, and willingness to go above and beyond to meet our needs stood out.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

No, we were very satisfied with MindSpace service all through our engagement.

BACKGROUND

Please describe your company and position.

I am the CEO of Sana Commerce

Describe what your company does in a single sentence.

We specialize in delivering a comprehensive B2B e-commerce solution that seamlessly integrates with Microsoft Dynamics and SAP ERPs.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• We hired MindSpace Outsourcing Services Pvt. Ltd. with the goal of streamlining our bookkeeping processes and integrating a comprehensive B2B e-commerce solution
• Our specific objectives were to improve the accuracy and efficiency of our financial record-keeping
• To enhance our e-commerce capabilities, and seamlessly integrate the new solution with our ERP systems.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

Online Search

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Pricing fits our budget
• Great culture fit
• Good value for cost

How many teammates from MindSpace Outsourcing Services Pvt. Ltd. were assigned to this project?

50

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

They set up an efficient bookkeeping system that was created to meet our unique requirements.

RESULTS & FEEDBACK

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

A significant reduction in manual data entry errors and improved accuracy of financial records.

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

They continuously met deadlines, stuck to the established benchmarks, and communicated developments on a regular basis.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Email or Messaging App

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

Their expertise in both bookkeeping services and ERP integration was a significant advantage, enabling a seamless and efficient implementation.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

No. Our experience with MindSpace Outsourcing Services Pvt. Ltd. was highly positive. They exceeded our expectations in delivering the project.

BACKGROUND

Please describe your company and position.

I am the CEO of ShopWired

Describe what your company does in a single sentence.

We’re Passionate About Good Design.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• We hired MindSpace Outsourcing Services Pvt. Ltd. to optimize our internal processes and enhance efficiency in various areas such as data entry, data management, and document processing.
• We aimed to ensure that our data was accurate, up-to-date, and properly organized to support our decision-making processes and enhance overall productivity.
• We wanted to reduce costs associated with our back-office tasks by outsourcing them to a reliable and experienced partner like MindSpace Outsourcing Services Pvt. Ltd.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

Online Search

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Pricing fit our budget
• Great culture fit
• Good value for cost

How many teammates from MindSpace Outsourcing Services Pvt. Ltd. were assigned to this project?

80

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

They provided regular reports summarizing the work completed, progress made, and any issues or recommendations for improvement.

RESULTS & FEEDBACK

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

By outsourcing our back-office tasks to MindSpace Outsourcing Services Pvt. Ltd., we experienced increased operational efficiency. This was reflected in faster turnaround times, streamlined processes, and improved productivity.

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

It was admirable how they took a pro-active attitude to anticipated problems and promptly offered answers.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

Email or Messaging App

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

Their attention to detail, accuracy, and professionalism set them apart from other outsourcing providers we have worked with in the past.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

No, we had a very good overall experience with MindSpace Outsourcing Services Pvt. Ltd

BACKGROUND

Please describe your company and position.

I am the CEO of NUS Consulting Group

Describe what your company does in a single sentence.

We specialize in the field of energy management and sustainability

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• We hired MindSpace Outsourcing Services Pvt. Ltd. to accomplish the goal of streamlining and improving our bookkeeping services in the field of energy management and sustainability.
• The specific objectives were to enhance the accuracy and efficiency of our financial record-keeping
• To ensure compliance with relevant regulations, and provide comprehensive financial reports and analysis.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

Online Search

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Pricing fit our budget
• Great culture fit

How many teammates from MindSpace Outsourcing Services Pvt. Ltd. were assigned to this project?

90

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

MindSpace Outsourcing Services Pvt. Ltd. took care of recording and classifying financial transactions, reconciling accounts, managing payrolls, processing invoices and payments, and generating financial reports.

RESULTS & FEEDBACK

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

We experienced improved accuracy and efficiency in our bookkeeping processes, resulting in fewer errors and reduced time spent on reconciliations.

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

Throughout our involvement, MindSpace Outsourcing Services Pvt. Ltd. displayed great project management skills. They routinely met all deadlines and delivered goods on schedule.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

Email or Messaging App

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

Their understanding of our specific challenges and requirements sets them apart from other service providers.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

No, they consistently met and exceeded our expectations, delivering exceptional results and demonstrating professionalism throughout the project.

BACKGROUND

Please describe your company and position.

I am the CEO of Vaimo

Describe what your company does in a single sentence.

We are experts in digital commerce, data and content management

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• We hired MindSpace Outsourcing Services Pvt. Ltd. to achieve several objectives related to our financial management processes
• To handle general ledger accounting for our digital commerce operations, ensuring that all financial transactions were recorded accurately and in a timely manner.
• To offer data management solutions to optimize data handling and reporting processes, enabling us to make well-informed business decisions

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

Online Search

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Pricing fit our budget
• Good value for cost
• Company values aligned

How many teammates from MindSpace Outsourcing Services Pvt. Ltd. were assigned to this project?

85

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

They record and maintain all financial transactions, including sales, expenses, and payroll.

RESULTS & FEEDBACK

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

They enhanced content management system, making it easier to access and retrieve important financial documents.

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

MindSpace Outsourcing Services Pvt. Ltd. exhibited excellent project management throughout our engagement. They consistently delivered items on time, meeting all deadlines without compromising quality.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

Email or Messaging App

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

We're impressed with MindSpace Outsourcing Services Pvt. Ltd.'s deep understanding of our requirements.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

Throughout our collaboration, we had a positive experience with MindSpace Outsourcing Services Pvt. Ltd., and we cannot think of any specific areas for improvement. They maintaining a high level of professionalism.

BACKGROUND

Please describe your company and position.

I am the CEO of Öhlins Racing AB

Describe what your company does in a single sentence.

We provide automotive, motorcycle and motorsport industry with advanced suspension systems, both conventional and electronically controlled.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• We hired MindSpace Outsourcing Services Pvt. Ltd. with the specific goals of streamlining our bookkeeping processes and ensuring accurate financial record-keeping for our growing business in the automotive, motorcycle, and motorsport industry
• Our objective was to leverage their expertise in outsourced bookkeeping services
• To enhance our financial management capabilities and support our business expansion.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

Online Search

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Pricing fit our budget
• Great culture fit
• Good value for cost

How many teammates from MindSpace Outsourcing Services Pvt. Ltd. were assigned to this project?

65

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

They provide financial analysis and insights to support decision-making

RESULTS & FEEDBACK

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

Our collaboration enhanced financial visibility through accurate and insightful financial reports.

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

They consistently delivered items on time, ensuring that our financial records and reports were up-to-date and readily available

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

Email or Messaging App

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

Their commitment to accuracy, timely delivery, and proactive communication sets them apart as a trusted outsourcing partner.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

No, their consistently met and exceeded our expectations, delivering high-quality bookkeeping services.

BACKGROUND

Introduce your business and what you do there.

I’m the founder and managing director of a software company named Mclowd.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with MindSpace Outsourcing Services Pvt. Ltd.?

At the time, we were a bootstrap startup and we needed to find an efficient way to manage our monthly accounting process.

SOLUTION

What was the scope of their involvement?

They remotely managed our accounting processes and bookkeeping with minimal instruction. We set up online processes and email addresses. We had a call once a quarter with one of their staff members, and they coordinated the tax process with a local accountant.

What is the team composition?

I occasionally engaged with the owners of MindSpace Outsourcing.

How did you come to work with MindSpace Outsourcing Services Pvt. Ltd.?

We found them through a referral.

How much have you invested with them?
We spent about $1,500 per year (approximately $15,000 in total).

What is the status of this engagement?

We started working with them about 10 years ago in June 2011, but we needed to bring it in-house in March 2021.  

RESULTS & FEEDBACK

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

They clearly knew the industry. Once the system was set up, it ran with minimal input from us. As a result, they were always able to prepare our tax returns. They freed up our time and provided us with peace of mind because we knew our bookkeeping was well-managed.

How did MindSpace Outsourcing Services Pvt. Ltd. perform from a project management standpoint?

They were very responsive, which was very important because they were working remotely. Otherwise, the entire process could get bogged down. They consistently delivered what we wanted, which built up our confidence in them. We generally communicated via email.

What did you find most impressive about them?

They were extremely responsive. That was key to the success of our partnership. Communication was smooth and prompt. They ensured that all tasks were finished quickly. Whenever I had questions, they replied quickly and we communicated regularly until the issue was resolved.

Are there any areas they could improve?

There isn’t anything they need to improve.

Do you have any advice for potential customers?

Invest time into setting everything up properly at the beginning of the project.