Case Study
Artiffex’s outsourcing offering solves this issue by managing the entire process, allowing us to better use our own internal resources, scale up and down accordingly, and ultimately better serve our clients.
Project Info
Breaking Free from Bookkeeping
Geib & Company is a Calgary-based family business that has provided clients across Western Canada with unparalleled accounting, consulting and tax services for over 60 years. Today, Geib & Company is a 20-person full-service accounting firm that provides services to small publicly traded companies, medium and small not-for-profit organizations, and privately-owned enterprises. Geib and Company engaged Artiffex to offload their investment portfolio reconciliation.
“Geib & Company’s long-term success is due to our team’s ability to understand the problems and challenges our clients face in an increasingly complex business world, and a dedication to constantly looking for ways to effectively streamline our internal processes to better serve our clients and manage our Firm,” said Kathleen Dengler, CPA, CGA, Assurance Partner, Geib & Company. “Traditionally, the reconciliation of investment portfolios is a time-consuming process that requires significant resources during peak periods throughout the year. Artiffex’s outsourcing offering solves this issue by managing the entire process, allowing us to better use our own internal resources, scale up and down accordingly, and ultimately better serve our clients.”
Objectives
Minimize time spent on bookkeeping
Eliminate errors due to manual data entry
Increase operational efficiency and reduce costs
Enable a higher level of service to clients regardless of portfolio size
We can reduce risk and overhead costs associated with new technology, scale up or down during our peak seasons, and extend our firm’s service offering — all of which increases our overall efficiency and competitiveness.
Process
How We Got There
Geib & Company initially engaged with Artiffex for a single project in the Fall of 2021. The Artiffex team worked closely with the Firm to ensure they could easily realize the value of automating and streamlining the reconciliation of investment portfolios. Having established trust with Geib and Company’s team in the power of the Artiffex platform and the hands-on approach of the Artiffex team, the Firm chose to outsource a significant portion of its files for the 2022 tax season.
“It became clear to us that Artiffex’s outsourcing service would allow us to quickly and easily take advantage of the Artiffex platform without adopting new software or training staff,” adds Dengler. “The benefits to doing so are numerous. We can reduce risk and overhead costs associated with new technology, scale up or down during our peak seasons, and extend our firm’s service offering — all of which increases our overall efficiency and competitiveness.”
The Measure of Success
Time Saved
On one account with 4000 transactions, Fuller Landau saved almost 40% on its time to process
Fewer Errors
With reduced manual data entry process, the risk of human error has also decreased
They have been a true partner throughout the engagement, earning our trust through transparency in pricing, and spending the time we needed to ensure the process and outputs are aligned with the specific needs of our firm. We look forward to our continued collaboration with the Artiffex team.
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