US accounting firm collaborates with Vizag-based IT company, to work together
Walters & Sklyar LLP (WSCPA) a full-service advisory and accounting firm based out of California with over 44 years of experience and a large client base has decided to invest in an IT and ITES company located at the IT Special Economic Zone at Madhurawada here.
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Visakhapatnam Walters & Sklyar LLP (WSCPA) a full-service advisory and accounting firm based out of California with over 44 years of experience and a large client base has decided to invest in an IT and ITES company located at the IT Special Economic Zone at Madhurawada here.
WSCPA will invest in "PacificCoast PreciStat", a new joint venture in partnership with PreciStat IT Solutions Pvt. Ltd, a Visakhapatnam-based KPO, BPM and software services company.
Commenting on the development, Ramana Bodepudi, CEO, PreciStat IT Sol Pvt. Ltd. told Bizz Buzz on Saturday that now they would be extending their expertise in accounting work for American clients on behalf of their new partner. He said "we know how to scale large KPO as well as BPO organisations having been in this business for over two decades. We specialise in supporting mid-market enterprises in the US especially in the financial services area."
He said "we are very hands-on with the executive management teams and make sure they have what they need to succeed and grow. This unrelenting attention to quality and capacity is what made Jim Walters, Chairman & CEO of WSCPA choose his strategic partner towards launching a new market initiative. Sharing our expertise with WSCPA is a great opportunity to bring PreciStat's untapped capacity and potential to market".
"The biggest pain point in servicing our own book of business has been finding qualified tax experts and this is the reason we have been relying on outsourced vendors from India since 2005, PreciStat being one of them. The US tax preparation services business is about $10.9 billion and I see a huge opportunity to serve this market beyond my own captive customer
base and that is the motivation in investing in PreciStat. The basis for the JV is to leverage and complement each other's strengths and achieve better synergies and scale rapidly," Walters stated in a statement.
He said he is excited about partnering with them because of their experience and expertise in supporting the American firm's vision and organisational growth needs. From assembling high powered teams and setting up streamlined processes, to building robust platforms, PreciStat will be a valuable partner in maximising how together market reach can be widened beyond current captive customer base to offering the same service capabilities to other accounting firms across the country, said Walters.
