95%
accuracy achieved in our client’s books of accounts.
70%
of your time saved when we manage these activities.
10M
saved in costs by tracking expenses correctly and through reporting.
90%
more clarity on your books of accounts.
How Savage & Palmer can help you save time & money
Ownership & Accuracy
We’re structured like your own in-house team so that you can focus on growing your business. With our team of managers reviewing and closing the books monthly we boast a high level of accuracy in the books and ensure no transaction is missed.
Structured Reporting
We provide you with month on month reports with actionable insights so that you know the financial health in your company and can focus on resolving any problem areas.
Compliance Management
With our robust processes you will not miss a single compliance filing and avoid those hefty penalties.
Ownership & Accuracy
We’re structured like your own in-house team so that you can focus on growing your business. With our team of managers reviewing and closing the books monthly we boast a high level of accuracy in the books and ensure no transaction is missed.
Structured Reporting
We provide you with month on month reports with actionable insights so that you know the financial health in your company and can focus on resolving any problem areas.
Compliance Management
With our robust processes you will not miss a single compliance filing and avoid those hefty penalties.
We’re trusted by over 1000 businesses
Other Services
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By marketing your business online.
Build Your Team
By ensuring that you hire only the best.
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Frequently asked questions
Why we provide accounting services?
WE ARE HERE TO ENABLE ENTRUEPRENUERSHIP
- Business owners have multiple challenges with their business - managing their accounts team is one of them.
- The options available for an entrepreneur are CA firms or in-house team, both of which have their own challenges.
- Biz owner ends up spending alot of time and effort managing the team,which can be saved by availing our accounting services.
- As accounts is non -core, this is a waste of time for him/her, resulting in less focus on the most critical activity ie growing the biz.
- Hence we started SavPalm to help them manage this process by providing accounting services so they can focus on growing the biz.
How are we better than CA firms at providing accounting services?
The general issues you will face with your CA are:
- Their accounting services have a very traditional approach and are not customer centric.
- They are more focused on tax filings and audit hence not really focused on maintaining your books and data entry.
- They don't share reports with you on a timely basis.
- They have article clerks do the work - they keep changing every few quarters and hence there is no stability.
- Generally during audit season also your own accounts can get ignored.
This invariably leads to you spending time on your accounts instead of growing your business, which can be avoided by availing our accounting services.
How are we better than In house teams at providing accounting services?
The general issues you will face with your inhouse teams are:
- No trained manpower in the market also no expertise in hiring the right accountant.
- Managing and retaining the accountant.
- Accuracy Issues in the books of accounts.
- Coordination with your CA to share the tax calculations which can invariably lead to penalties.
- You are dependent on a company for all your accounting services not on a person.
This invariably leads to you spending time on your accounts instead of growing your business, which can be avoided by availing our accounting services.
How are we better than our direct competitors at providing accounting services?
Our accounting services are better through our:
People - Training, Development and General Expertise.
Processes of our accounting services: RC, QC, Fortnightly Reports, Operations Team, Onboarding team and checklist, Incident Tracker
Technology: WA, Basecamp, Google Drive.
Apart from the same:
- our accounting services close the books of accounts on a monthly basis.
- We handle GST 2A Reco and TDS reco every month and quarter respectively.
- We share MIS reports for actionable insights on a monthly basis.
Benefits of FMS, which is offered in our accounting services?
- A business owner does not need to worry about hiring, training and retaining his accounts team.
We handle the accounts end to end using our processes and checklists. - Savage & Palmer’s accounting services are responsible for all data entered as well as the taxes filed.
- All reports are shared at the end of the month.
Benefits of RR, which are offered in our accounting services?
- The promoter does not need to worry about reviewing the books and worrying about tax penalties.
- All tax filings are handled by the manager.
- MIS reports are shared by the manager.
Benefits of Staffing?
- The business owner does not need to focus on constantly hiring the executive.
- our accounting services provide trained manpower to the client and constantly focus on developing them.
- Incase the executive/manager that is staffed leaves the company we replace them and make sure handover is given between the 2 resources.
- The client does not have to worry about retaining the employee since that is our focus/responsibility.
What is Themis and how are you associated?
Themis was a company formed by Nibhrant about 7 years back. Mihir our co founder used to work there and head sales. Post seeing that there was a major gap in the market - Mihir and Rehan decided to start Savage & Palmer and collaborate with Themis to work with clients. Today all Themis clients and employees have merged into SavPalm.
How are you different from Themis?
Themis used to work as a middleman with a POD model where they would generally outsource the accounting services to other CAs. This was cost effective for the customers but quality took a beating. Hence, in Savage & Palmer we hire our own in house accountants to provide accounting services to the clients with more quality checks over the time period.
I use a CA Firm & pay 30k annually. Why should I use Savage Palmer’s accounting services?
The general issues you will face with your CA are:
- they have a very traditional approach and are not customer centric.
- They are more focused on tax filings and audit hence not really focused on maintaining your books.
- They don’t share reports with you on a timely basis.
This invariably leads to you spending time on your accounts instead of growing your business, which can be avoided by availing our accounting services. This is exactly when we come into the picture, generally about 50% of our clients are startups and we help them handle their books right from the very base and once that is strong (just like a building) we will then build on it and grow the team with you as you grow.
I have an Inhouse team. Why should I use Savage Palmer’s accounting services?
The general issues you will face with your inhouse teams are:
- No trained manpower in the market.
- Managing and retaining the accountant.
- Accuracy Issues in the books of accounts.
- Coordination with your CA to share the tax calculations which can invariably lead to penalties.
This invariably leads to you spending time on your accounts instead of growing your business, which can be avoided by availing our accounting services.
We have a CA + In house team. Why should I use Savage Palmer’s accounting services?
XYZ that is the general market trend - all companies have a CA firm and an inhouse team. However, you can face a lot of issues like miscommunication between the two, managing your team and reviewing the work as well as dealing with your CA who isn't really customer centric. Our accounting services on the other hand handle everything end to end all the way from your data entry, tax filings and MIS reports so that you can focus on growing your business.
I have already outsourced my accounts to another firm and have a contract with them for x months. Why should I switch to Savage Palmer’s accounting services?
Sure thats understandable - what is your general notice period with them? Would it be 1-2 months? Since generally you would have a notice period - what we could do is sign you on and then get the team ready during the notice period - your billing will only start once we kick off operations. Post that we can take handover and ask your current team to move out. When we start our accounting services for you, we come in with our on boarding team. The main purpose of the on boarding team is to ensure that systems and processes are set for complete data flow between the executive as well as the management team who will be handling all your tax compliances as well as MIS reports. This could be via the cloud or via regular emails.
What are MIS reports? Can you explain MIS reports a little more in detail?
Management Information System Reports:
- MIS Reports are a summary of your financials.
- They are are Graphical Representation of your sales, expenses, receivables and payable.
- For eg. It is like a Dashboard of the Car which indicates how much petrol is there in the car, How far can it go, what average is it giving. This is something what gives you analysis about what can be improved and increase your profits in the upcoming months.
What is a bi annual compliance check?
The bi annual quality check is an audit that happens once every six months, this ensures that we can raise and solve any queries that can have financial implications in the future. This also ensures that during the actual annual audit these queries are not raised and it is a smoother process.
Why should we get someone else to review our books when our in-house team is already following the process?
XYZ, while I do understand the same - generally we have seen with our 250 clients, even though you have set processes you can face issues with gaps in the way the books are being maintained and you might not have a person to review the same hence you will have to put in your time to resolve the same. Our accounting services then come in with a review layer where we have a part time manager review the books - red flag any gaps in the books and share it with your team to correct + they will also file tour taxes and give you MIS.
What are your charges for your accounting services?
Generally our accounting services charges are based on the number of transactions (that is linked to the amount of time spent by the accountants) and the complexity of accounts and we would love to meet you to understand the same. However, just to give you a general ballpark - we charge our lowest client 5k per month and our highest anywhere at 1 lac a month.