Client Profiles

The Global Upside solution provides our customers a competitive advantage and facilitates increased productivity and profitability. Some of the world's leading companies have leveraged our capabilities to improve their performance.

 

 

Customer Example 1

 

Background: A publicly traded vendor of networking equipment headquartered in Silicon Valley. The company has international operations in Asia, Europe and Canada.

 

Problem: The company faced a high turnover of its accounting staff resulting in:

 

• High cost of training and retention
• Loss of key business knowledge
• Disruption to routine business activities
• High cost of write-offs due to lack of timely resolution with vendors/suppliers

In addition, a large pool of resources was required to resolve issues associated with a backlog of unresolved documents such as invoices and credit memos. This resulted in inaccurate financial reporting for liability.

 

Solution: The company started by outsourcing its Accounts Payables functions to Global Upside followed by Expense Reports, Fixed Assets and vendor/supplier discrepancy resolution.

 

Result: The company was able to achieve several benefits with Global Upside's services including:

 

• Conversion of fixed costs to variable costs
• Discovery of new efficiencies in its accounting processes
• Elimination of processing backlog
• Cost savings of up to 30%

An added benefit was the reliability of Global Upside's reporting and the detailed analysis of a problem. This enabled the customer to resolve issues faster and get to the root of the issue. The documentation created by Global Upside was approved and submitted for Sarbanes-Oxley compliance.

 

 

Customer Example 2

 

Background: A publicly held company manufacturing deposition-processing tools for the semiconductor industry. The Company is head quartered in Silicon Valley with operations worldwide.

 

Problem: The Company faced a tremendous challenge of maintaining its baseline operations during a steep decline in order bookings. Added to this was the requirement to continue operations with limited staff including:

 

• Sub-optimal tasks for highly skilled legacy staff
• Lack of funds to hire more staff
• Loss of key business knowledge through attrition
• Disruption to routine business activities

Solution: The Company contracted with Global Upside to outsource its Accounts Payables functions.

 

Result: Global Upside not only solved this customer's turnover and budgetary matters but also provided promotional opportunities to their legacy employees. The benefits achieved by the Company included:

 

• Cost savings of up to 30%
• Better utilization of limited staff by relieving them of mundane and problematic processes
• Conversion of fixed costs to variable costs

 

 

Customer Example 3

 

Background: One of the largest insurance agencies in Silicon Valley. The company offers all lines of insurance broker services and is licensed in 42 states providing risk-management solutions to a wide variety of companies. The company uses both conventional and online sales models.

 

Problem: The company had poor accounting and reporting procedures resulting in:

 

• Tardy and duplicate payments to vendors
• Lack of reconciliations and non-compliance of Trust account
• Loss of profit due to improper/untimely reconciliation of policy premiums and commissions earned
• Discontent of Agents and affiliates due to incorrect sales commission calculations
• Poor follow up and monitoring of renewals
• No visibility into producer or insurance line profitability

Above factors affected company’s growth and quality of service to its customers, employees, and affiliates.

Solution: Global Upside recreated their chart of accounts and books for the prior and current years in QuickBooks. Global Upside also worked with management and insurance agents to understand the business modalities and developed multilevel dashboard analytics delivered to each user per their individual schedules.

 

Result: Global Upside not only brought the company’s books in compliance with U.S. GAPP but also gave the CEO better visibility into the business by providing:

 

• Monthly reconciliation of insurance premiums paid and commissions earned
• Monthly analysis of new and renewal business
• Reporting of special event insurance revenue from online transactions, credit cards, and PayPal
• Monthly profitability analysis by line of business, insurance provider, agent, and customer

Global Upside also maintains, verifies and reconciles company’s premium Trust bank account so that the company is in compliance with its statutory and fiduciary obligations.