A Financial Corporation

Introduction

This Financial Corporation is a firm of Professional CPAs (Certified Public Accountants) based in USA. It consists of veterans from the finance industry, who have several years of experience in the ?big four? finance companies.

Business Problems

The clients of professional CPAs have mutual funds that require the use of tax information to properly prepare their tax returns. They spend a great deal of time on the fund company's website, and calling up the fund companies to get what they need. Providing information to tax preparers is not a high priority of fund companies, thus making the task all the more difficult.

Our clients, experienced in working with major financial institutions knew that this is a problem every CPA faces. They came up with a vision of providing a single point of information for all the mutual funds that will provide the CPAs throughout the US, a considerable amount of value by saving their time and providing useful and not so easy to get information.

The challenge was to give this vision a successful implementation in a very short duration.

The BrickRed team recommended a Web-based application that incorporated client?s requirements. BrickRed developed their Mutual Fund Tax Information Online Research Service application from its offshore development center in Noida, India. The development team communicated through emails and chat with people at the client side to completely understand their needs and deliver the solution.

An easy to use web based application was provided for the customers. The customers just had to follow very simple steps to access this service.
1. Log on to the website using their user name and password.
2. Determine what type of tax information they require.
3. Select the fund company and fund they require information for from drop-menus.
4. Enter their client's dividend, capital gain, or other applicable amount, as reported on their client?s 1099-DIV, 1099-INT, or investment statement.
5. Steps 2-4 can be repeated as necessary and then summarized on one page.

The service automatically determines the applicable percentages needed, based on information contained in the database. It also performs relevant calculations for each fund. This information can then be summarized for each client, printed on a single sheet, and included in the work papers for the return.

A customer can purchase this service online by supplying their credit card details. Third party credit card processor 2Checkout.com was integrated with the site to process orders placed using credit cards. For corporate clients, an administrator login was created. They could use this administrator login to create multiple logins for their colleagues depending upon the license purchased.

A simple to use Web based interface was provided for the client to enter tax related information they collected from various mutual fund companies. Several utilities were provided, such as, import & export of data from SQL Server to MS-Excel

The service has generated tremendous excitement in the market and has received an excellent reception from customers. Its interface has been widely appreciated by client's end customers. The service in its first year of inception itself has been able to draw thousands of customers to the site and provided them with unmatched value.