Bikham Finance Plans to Expand In-Demand Accounting Services with the Acquisition of 7 CPA Firms in the Next Year
NEW YORK, Dec. 18, 2019 /PRNewswire/ -- Bikham Finance is one of New York's finest outsourced accounting, bookkeeping, tax, and payroll services. CPA firms across the states rely on the experts at Bikham Finance to provide many of the same beneficial services as in-house staff, thus saving them tens or even hundreds of thousands of dollars and facilitating their growth.
Unlike many of their competitors, Bikham Finance quotes an upfront flat-rate fee, which is critical for CPA firms which must be able to predict expenditures in order to continue to turn a profit. Thanks to this, Bikham Finance has enjoyed incredible success. In order to fulfill the demands of its growing list of clients, the company will acquire 7 CPAs firms in the next year to expand its offerings, particularly in the direct client market.
How Bikham Finance Improves CPA Firms
Bikham Finance provides CPA firms with numerous benefits that greatly outweigh those offered by in-house staff or any other outsourced accounting services. In most CPA firms, roughly half of the firm's gross revenue goes toward payroll and related expenses. This creates a significant margin for error; many CPA firms find themselves paying various fulltime employees even when their services are not currently needed. Bikham Finance relieves this pressure on CPA firms by charging a flat 25% of the amount billed to clients, which offers incredible predictability. Bikham Finance assigns each of its clients a dedicated account manager to create a unique plan that is based on each client's individual requirements. As of the time of writing, Bikham Finance serves more than 130 clients nationwide. A top client of Bikham Finance, Derrick Doba, President and CEO of Doba CPA, PC, currently serves on the Arizona Board of Tax Appeals. With more than 23 years of financial and accounting experience, Mr. Doba says, "Using Bikham Finance as a white-label service allows me to devote more consulting time to clients for complex matters and planning.''
Significant Time and Money Savings
The team at Bikham Finance surveyed some 740 CPAs and firms across the nation and found that coordinating with clients to collect data takes up most of their employees' time. This information, which includes tax documents, reports, and other financial statements is critical to a firm's ability to properly service its own clients. Bikham Finance takes over these various white label accounting solutions remotely to save firms time and money. What's more, by reducing firms' daily workload, Bikham makes it easier for its clients to focus on more important and complex tasks – including planning and advising.
Acquisitions Planned for the Next year
Bikham Finance already has more than 130 clients across the nation, and with its popularity growing due to its professional service and flat-rate fees, demand for their services continues to rise. As a result of this, Bikham Finance has met with numerous brokers and has already closed on its first acquisition.
If you would like to learn more about Bikham Finance, visit their website today, call them at (800)780-1924, or email them at [email protected].
About Bikham Finance: Bikham Finance, headquartered in New York City, offers a wide range of outsourced accounting and financial services. These include accounting and bookkeeping solutions, payroll management, tax preparation, and CFO services. The company was initially founded by Harman Dhawan in 2005 and has since then held true to its founder's vision of providing professional and straightforward white-label accounting services remotely.
SOURCE Bikham Finance
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