Customer:
Jitasa Group
Industry:
Non Profit Accounting Services
Website:
https://jitasagroup.com
Product Used:
CPA Client Engagement Automation Solution
“Autymate’s Client Engagement Automation Solution allows us to monitor and comply with all aspects of our Customer SLA and provides Jitasa management with real-time access to actionable client KPIs and employee performance data, replacing expensive, time-consuming manual tracking processes.”
Headquartered in beautiful Boise, ID, Jitasa is the first and largest national accounting and bookkeeping services provider specializing in serving non-profit agencies. The name Jitasa means “The Spirit of Serving Others,” and the Jitasa team is passionate about broadening nonprofit outreach and believe there’s no higher value than partnering with nonprofits to make the world a better place. Jitasa specifically focuses on the numbers so that their clients can effect change. Since 2008, Jitasa has aided over 1000+ nonprofits in their mission.
With a fierce growth trajectory and a critical need for streamlined accurate data, Jitasa had to find a strategic partner to offload and standardize the labor-intensive bookkeeping processes that were being handled manually through a coordinated effort of account managers and management. By implementing Autymate’s customizable platform and services, Jitasa has successfully onboarded 150 clients onto the Autymate platform in 90 days with the help of just 4 account managers and a customer success manager. Now with Autymate as their partner, they have the bandwidth to focus on their advisory services, firm efficiencies, and reaching their goal of supporting 1,000+ clients by 2023.
Since incorporating Autymate’s platform and services into the Jitasa business model, the firm has been able to shift its focus to innovation, growth, and client engagement. Autymate’s strategic partnership has provided Jitasa with the additional human and technical capacity to be able to grow and scale their accounting firm; they now have the right platform with automation, the accuracy needed for proper benchmarking, and the highest level of financial oversight of all their clients’ bookkeeping from the Autymate team.
Jitasa is always striving to provide extraordinary client service and the recent Covid 19 pandemic has presented both challenges and opportunities. Most recently Jitasa recognized the value of pre-qualifying clients for PPP loans so that eligible non-profits could apply early and certainly prior to the statutory filing deadlines. Jitasa solicited the help of Autymate to automate the pre-qualification calculation.
See a full write up from Intuit (aka Quickbooks) here about this case study.
About
Background
The U.S. Congress recently passed new legislation, including approximately $284 billion for PPP loans.
The SBA and Treasury announced Friday, January 5, 2021, that the new PPP would re-open the week of January 11th with community financial institutions exclusively allowed to make first-draw PPP loans starting Jan. 11 and second-draw PPP loans starting Jan. 13. The PPP will open to all participating lenders at an unspecified date shortly after that and remain open through March 31.
One of the most significant changes with the new PPP is that Congress made funding available to businesses that had previously received a PPP loan. Borrowers are eligible for a second-draw PPP loan of up to $2 million, provided:
- The company has 300 or fewer employees.
- Used or will use the full amount of their first PPP loan for eligible expenses.
- They have experienced a revenue reduction of 25% or more in all or part of 2020 compared with all or part of 2019.
- This is determined by comparing gross receipts in any 2020 quarter with an applicable quarter in 2019, or, a borrower that was in operation for all four quarters of 2019 can submit copies of its annual tax forms that show a reduction in annual receipts of 25% or greater in 2020 compared with 2019.
The Challenge
The challenge for Jitasa was how to monitor timely completion of bookkeeping and reconciliation services by Client Account Managers worldwide. Specifically, Jitasa needed real time visibility as to number and $$ amount of uncategorized, unclassified transactions, as well as overdue account reconciliations and spikes in miscellaneous expenses. Part of the Jitasa value proposition is a corporate promise to ensure timely account reconciliations, accurate and timely transaction categorizations and classification via QuickBooks online for all 350+ non profit clients.
Our Solution
Leveraging the CPA Engagement Auty-mation Solutions, Jitasa extracted and aggregated real-time client data directly from QBO to view and assess actual quarterly gross quarterly and annual revenue for 2019 2020 to determine client eligibility for a second-draw PPP loan.
Bottomline
Using this automated data extraction, Jitasa can alert clients of future eligibility well in advance of the March 31 filing deadline. This timely value-add service provided Jitasa’s non-profit client base with information not readily available to their organization previously and allowed eligible clients the time to apply for this valuable government assistance. The CPA Engagement Auty-mation Solutions is a “glove fit” for mid-market franchisors, accounting service providers, and other multi-office international enterprises looking for real-time access to consolidated and actionable store/location performance data.
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