How did Sundaram help a leading integrated services firm scale across geographies?
In 2022, an integrated financial advisory and accounting service firm in New Zealand approached us with multiple challenges. This business provides finance solutions to businesses, corporations, and individuals. Initially, they wanted to eliminate the setbacks in the financial and tax return preparation for SMEs in New Zealand. Sundaram offered our back-office support to their offices across Australia and New Zealand.
Countries
ITRs
Entities
The Challenge
Major setbacks: Volatile volumes, capacity constraints, and compliance issues
➤ Fluctuating workload: Due to fluctuating volumes, the business faced operational challenges, cost implications, and challenges in executing long-term strategic planning.
➤ Capacity issue: Capacity issues at various branches in NZ resulted in inefficiencies and delayed turnaround time.
➤ Talent shortage: Due to a shortage of qualified resources, the client found it challenging to hire, train, and retain a team in New Zealand.
➤ Evolving regulatory framework: The complications and difficulties of adhering to the ever-changing legal and regulatory framework have added strain to the business.
The approach
Scalable approach, access to expertise, and reduced risk
Our team at Sundaram Business Services were equipped to address the challenges.
➤ Flexible engagement model: To adapt to the fluctuating workload, we used a flexible engagement model that combines FTE and Hourly models.
➤ Skilled workforce: Sundaram offered support and assistance to carry out tasks efficiently through skilled, and experienced professionals with specialised knowledge of the New Zealand and Australian landscape.
➤ Reduced risk: We created checklists and streamlined the tax and compliance processes by leveraging our expertise in the New Zealand’s regulatory framework.
The impact
Enhanced operational efficiency, client satisfaction, and geographical and domain expansion
➤ Operational efficiency: The client gained stability in core operations by achieving quick turnaround times and meeting deadlines.
➤ Rapid progress: From three resources handling multiple entities and ITRs, the volume of handling entities and ITRs scaled by approximately 30% and 40%, respectively.
➤ Upgrade of services: The client extended our engagement from New Zealand to Australia after we successfully carried out a pilot phase in Australia in 2024.
➤ Driving factors for service expansion: After benefiting from our streamlined back-office process and a client-centric approach, they engaged us in more branches across Australia.
➤ Satisfaction in process: Our service engagement also extended from cities to suburbs, reaching across our clients; partners; network, driven by satisfaction with our process.
➤ Expansion into new domains: The client is keen to scale up our service scope, from handling financial and tax return preparation for SMEs to handling their SMSF back-office process.
➤ Software transition: The client needed assistance transitioning around 10,000 entities in Australia as they transitioned to new software from FY2025, within a tight six-month timeline.
➤ Turnkey project: We managed this turnkey project by recruiting, training resources and developing SOPs, within the timeline, ensuring quality. This guaranteed the financial statements and tax returns within the lodgement deadlines.
Testimonials
Even the smallest of appreciations the managers share with the team can speak volumes about the value they add through their work
Here’s a glimpse of such meaningful messages,
You’ve used the right code, and this one is all good
After reviewing your work, I found great work done
No changes, and well done
The job was effortless to review, good work
Your process on the trust is all good, thanks for your hard work
You have processed the tax return efficiently, and will send it to the client
Completed reviewing all your queries, the job was very well put together
