International coordination helps $100 million nonprofit achieve mission
Delivering transparency, accountability and value across borders
CASE STUDY |
A $100 million nonprofit organization with operations around the globe, primarily in developing nations, was troubled by the state of its audit filings. Costs were high, and there was poor coordination among the numerous firms handling the work. The client had no single point of contact which resulted in little transparency into the accounting processes for its numerous operational locations. The fact that its operations were focused in developing countries exacerbated systems and communication challenges. The client routinely had issues with late filings and out-of-scope fees.
The company sought to better manage its international statutory audit and tax obligations by consolidating as many as possible with a single provider who could coordinate efforts effectively across borders and could provide transparency through effective project tracking and a single point of contact to ease communication challenges. The organization's management turned to RSM.
The client team, working closely with our global compliance and reporting services team, and with RSM firms around the globe, developed a customized service plan. RSM's Global Tracker, a proprietary web-based project management tool and repository, was central to providing the client with the transparency and accountability it needed to better manage its international accounting obligations.
RSM's effective global compliance and reporting services approach has delivered real benefits for this client, including:
- A consolidated responsibility for coordinating and reporting on work by all RSM member firms through a single point of contact in our U.S.-based global project management office. The client now has one professional to contact with any questions or issues, most of which are answered or addressed within 24 hours.
- A customized client dashboard within the global tracker, giving the client real-time, online insight into the state of all of its statutory accounting and tax projects around the world through a single tool. The client can check progress against deadlines and milestones and access all pertinent project files and communications through this single, powerful portal.
- Signifcantly reduced the organization's overall accounting expenses while improving service and accountability around the world.,
By providing the client with the power of being understood, the organization continues to leverage RSM for other professional services needs including international tax filings, its annual benefit plan audit and other business process improvement projects.