Rigor Consulting

BACKGROUND

Introduce your business and what you do there.

I’m the managing director and co-owner of a construction company called LMD Constructions Pvt Ltd. We’re based in Sri Lanka.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Rigor Consulting?

They’ve been our outsourced accounting partner since the inception of our company.

SOLUTION

What was the scope of their involvement?

Rigor Consulting handles all of our company’s accounting needs, including bookkeeping, tax preparation, financial planning, financial auditing, etc. They also provide advice on risk management.

What is the team composition?

We work with about four to five people depending on the assignment. Nishantha (COO) is our main contact person.

How did you come to work with Rigor Consulting?

We met them through a business networking forum that was held a couple of years ago.

How much have you invested with them?

We spend about $800–$2,000 on a monthly basis.

What is the status of this engagement?

We started working together in October 2016, and our partnership is still ongoing.

RESULTS & FEEDBACK

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

Initially, we had a separate accounting department, which cost us a lot and sometimes prevented us from focusing on business priorities because we had to look after everything ourselves. With Rigor Consulting’s help, we don’t need to worry about anything at all — our operational and administration costs are lower now, and we can peacefully focus on other tasks.

How did Rigor Consulting perform from a project management standpoint?

We have in-house project managers who run our business operations, so Rigor Consulting is not involved in any project management-related activities. We have a customized project management tool that we use to communicate. We also use WhatsApp and email at times.

What did you find most impressive about them?

They are good at what they do, which is why we’ve been working with them for the last six years.

Are there any areas they could improve?

They should introduce some sort of technology-based product that would enable them to work remotely in other countries as well.

Any advice for potential customers?

Give them a few assignments first so that you’ll have a better idea of their capabilities.

BACKGROUND

Please describe your company and your position there.

PragICTS is a full-service IT company in Sri Lanka (https://pragicts.com). I am the founding CEO of the company. We specialize in software development, infrastructure management, and cloud platform management.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Rigor Consulting, and what were your goals?

We were looking for a reliable accounting services company to look after the accounting functions of PragICTS. A firm that could provide us with personalized services was a must.

SOLUTION

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

This came through my network with good recommendations.

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

The process is well defined with the required tools. We keep records and receipts of the transactions. These are processed on a weekly basis through a shared cloud directory.

Describe their billing or cost structure.

Billing is done on a monthly basis with fixed pricing.

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

A dedicated member is allocated from Rigor to PragICTS.

RESULTS & FEEDBACK

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

This has been operating since its inception with no prominent or minor glitches. Management reviews of both companies takes place every last quarter.

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

Rigor provides a cloud storage facility for PragICTS to record the transaction details with structured and well-documented workbooks.

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

We are impressed by their personalized service with clearly defined processes that are simple and structured for ease of maintenance.

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

They are planning to automate this process with a system which is work in progress.

BACKGROUND

Please describe your company and your position there.

I'm the Accountant at Imperial Institute of Higher Education (Pvt) Ltd and I oversea all financial and management accounting functions and involved in strategic development of the company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Rigor Consulting, and what were your goals?

Having inhouse accounting people were a problem due to accuracy of the reports, employee turnover and time spent on training and development. Goal of getting Rigor Consultants for the Accounting services, was to get the monthly reports on time accurately and keeping all records up to date.

SOLUTION

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

We checked four other companies and had proposals from them. Rigor was selected based on the proposal and the recommendation got from the industry. After having chat with them we were convince to work with them due to the knowledge, human capital and the relationship management.

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 them to discuss our goals and objectives. They went over our books and found several issues with our finances and backlog on entering records to quick book software and the monthly reports. Then, they first finished the backlog by putting more resources and time and made the accounting records up to date. We’re now working with them to handle our taxes as well. They give monthly reports on our profit margins, income statements, and cash flow and annual tax returns for the company.

Describe their billing or cost structure.

They have monthly retainer for their service which is flexible and reasonable.

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

We mainly have a person inside our company to keep daily records and dealing with the director and the accountant at required time.

RESULTS & FEEDBACK

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

Within 2 months they completed the majority of the backlog we had in our financial records. And got guidance to streamline the process and improve the quality and the accuracy of the records. We also appreciate how well they handle our taxes.

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

The onboarding process was well organized, our account manager is easy to reach and provides a frequent update. We talk on the phone at least once a week and send emails for everything else. For required meetings, they come to our office to go over reports and discuss our business goals.

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

Their financial knowledge impressed me. The team is extremely knowledgeable and has significantly improved our bookkeeping operations. They are competent, complete everything accurately, and assist us in making sound financial decisions.

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

They are knowledgeable and expertise on financial services. I would suggest to give more training on book keeping for the new team members before they assign to us.

BACKGROUND

Please describe your company and your position there.

I'm the CEO and founder at a landscape firm. In my company we oversee landscape design and built projects covering a vast area of problems with biophilic solutions for our customers.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Rigor Consulting, and what were your goals?

As we are a start up company until we joined with Rigor consulting company, we had no idea how to start working on the financial side of our company.

We always needed a reliable team that could correctly prepare our accounts correctly and improve business operations and keep everything on track.

SOLUTION

How did you select Rigor Consulting and what were the deciding factors?

As searching online is not trustworthy for us, we always prefer referring for services using referrals. Rigor consultancies popped up many times when referring to the referrals with other companies and many used to mentioned about their knowledge on what they do and the trust they have created with many.

In the end, we chose them because they had superior expertise and were familiar with our in house accounting tools.

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

In the beginning, we met with them to discuss about our goals and objectives. After looking over to the entire financial problems we were facing they suggested some process improvements and switched us over to an accrual-based system.

They give monthly reports on our profit margins, income statements and cash-flows.

Describe their billing or cost structure.

Comparatively they are definitely worth the money we spend. They have flexible pricing.

How many resources from the Rigor Consulting team worked with you, and what were their positions?

We mainly work with two people: the owner/senior accountant and one team member who is specially allocated for our company and she's the one who is also our main point of contact.

RESULTS & FEEDBACK

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

They give us a continuous service so whenever we need their help and assistance they are there to guide and count on.

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

Their entire companies process is well-organized. Our accountant is easy to reach and provides frequent updates. They frequently email, and phone us for everything else.

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

We are actually blown away by their financial expertise. The staff is very experienced and professional. They get our work done correctly and help us make informed financial decisions.

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

Actually nothing so far, as they are so good with what they do.

BACKGROUND

Please describe your company and your position there.

Award winning National and Global company for supply chain compliances and bespoke management.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Rigor Consulting, and what were your goals?

for sectorial and accounting services. Goal was a Hazel free service

SOLUTION

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

Recommended and during networking

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

first Monthly name change and then monthly accounts and lastly them secretarial work.

Describe their billing or cost structure.

Monthly payment.

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

2- accounts managers

RESULTS & FEEDBACK

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

During the last two yrs they have been consistent

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

They coordinate with our office administrators and formulate monthly P&L. also study all Risk and recommend Mitigation plans.

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

I liked their attitude, consistency, and focus.

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

Nothing to Think of.

BACKGROUND

Please describe your company and your position there.

We are (www.iihe.lk) an institute that deliver international graduate and post graduate programs. I ma the executive Director/ Chief Executive

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Rigor Consulting?

In view of the expansion of our business and cost of hiring and maintaining staff we outsourced part of the accounting function toe Rigor Consulting

SOLUTION

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

Primarily the capability, secondly the pricing and thirdly they are very responsive and reliable

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

The do our accounting data entry, prepare monthly accounts, prepare annual accounts, fixed asset verification, Tax advisory and tax payments

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

up to five resources

RESULTS & FEEDBACK

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

Accuracy in data entry Timely delivery in monthly and annual accounts Tax savings through advisory

How effective was the workflow between your team and theirs?

Very effective and cordial

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

I like the competence and reliability of the staff.

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

bit more empowerment to the staff at site

BACKGROUND

Please describe your company and your position there.

I’m the Director Operations of Hemals Electrical Industries (Pvt) Limited, a company that undertake repairs and maintenance Services of Industrial Electrical component such as Industrial and Marine Motors, Electrical distribution Transformers, Electrical Panel Boards, Lifting Platforms, Lifting Magnets etc.,for private and state own companies.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Rigor Consulting, and what were your goals?

We have outsourced our Accounting, Finance and Financial Audit services to Rigor

SOLUTION

How did you select Rigor Consulting and what were the deciding factors?

They were referred by another company considering their professional approach and reliability.

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

Initially they did a complete study about the company and provided with analytical data which mainly related to financial and accounting system. Also they have introduce us to new financial reporting system. Ever since they are providing us with complete solution for our financial and accounting requirements such as monthly account, budgets, and audits.

Describe their billing or cost structure.

They a very reasonable and flexible in terms of charges. They have a monthly charge apart from yearly Audit Fees.

How many resources from the Rigor Consulting team worked with you, and what were their positions?

We work with three members of Rigor a Senior Accounting Officer, Adit Supervisor and Financial Consultant.

RESULTS & FEEDBACK

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

They completed a pending Audit of a past one year within three months and continued to complete the financial audits yearly basis on time. Also they introduce us to use accounting software for the first time and witching first 6 months of their services they implemented it.

They are prompt on actions that required and reachable 24/7.

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

They have a dedicated team of professionals that we can reach any time of the day during our operations to obtain support. Full time they have assigned a senior Accountant who will overlook all financial transaction and report to our directors.

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

They are very professional and unique when they provide service to customers. They make sure to cover all the aspects of customer requirements. They are always open to customers feedback and tailoring their services accordingly. They are always available to cater to our needs and well reserved.

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

Their reporting system is very professional and detailed. However they can improve it and fine tune by concentrating more on input of accurate data. This will overcome the minor errors.

BACKGROUND

Please describe your company and your position there.

I am a director and owner of a recycled paper / corrugated card paper packaging company

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Rigor Consulting, and what were your goals?

Annual and monthly accounts, financial planning, budget setting and assistance on business development startergies

SOLUTION

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

We were given recommendations from others they worked with

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

we set monthly budgets and our on ground team would pass the information to rigor to do monthly accounts and target evaluations etc. separate projects were done for business expansion, applying for bank loans , feasibility analysis etc

Describe their billing or cost structure.

monthly set billing with additional billing for extra services

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

2 people- accountant and head

RESULTS & FEEDBACK

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

they maintained our accounts well and provided timely alerts, assistance etc

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

Good commincation mainly via email with urgent matters on whatspp. created google docs for us to track

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

flexibility and ability to understand industry

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

N/A