This strategy outlines the establishment of a US CPA and tax firm operating from India through a Global Capability Centre (GCC). The first step involves acquiring US CPA firm licensing, which requires understanding state-specific requirements, procuring legal guidance, and ensuring compliance with the AICPA code of conduct. For instance, choosing a state like Delaware, known for its favorable business laws, can facilitate this process.
The second component is setting up a GCC in India, which involves researching cities like Bengaluru or Hyderabad for their talent pools, securing office space, and integrating IT infrastructure. Hiring HR consultancies can streamline staff recruitment, ensuring a smooth collaboration between US and Indian offices while maintaining cybersecurity compliance.
Finally, a client acquisition strategy is essential, targeting specific market segments and developing marketing materials. Utilizing digital marketing, engaging with US networks for client referrals, and creating service packages can attract clients. For example, webinars and workshops can demonstrate expertise, while CRM software manages relationships effectively, ensuring competitive services across borders.
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The strategies
⛳️ Strategy 1: Acquire US CPA firm licensing
- Research and understand US CPA firm licensing requirements
- Identify a state for firm licensing based on regulatory and tax considerations
- Procure necessary legal guidance for licensing procedures
- Register the firm with the appropriate US state board of accountancy
- Establish a US-registered office address
- Apply for necessary certifications and permits
- Complete any required continuing professional education (CPE)
- Ensure compliance with the AICPA code of professional conduct
- Register with the IRS for relevant tax identification numbers
- Monitor compliance deadlines and renewal processes
⛳️ Strategy 2: Establish a GCC in India
- Research suitable Indian cities for setting up the GCC based on talent pool availability
- Secure an office space in chosen location
- Register the Indian entity with relevant local authorities
- Hire a local HR consultancy to assist with staff recruitment
- Identify and onboard key Indian leadership roles
- Integrate IT infrastructure to coordinate operations between US and Indian offices
- Create a talent training and development programme in US tax laws
- Ensure cybersecurity compliance across cross-border operations
- Establish a clear communication protocol between US and India offices
- Set up financial operations to handle cross-border transactions smoothly
⛳️ Strategy 3: Develop client acquisition and service strategy
- Identify target market segments for CPA services
- Develop branding and marketing materials highlighting US and India capabilities
- Establish a comprehensive digital marketing strategy including SEO and content marketing
- Engage with US-based networks and industry associations for client referrals
- Develop a competitive pricing model for US and India clients
- Create service packages tailored to different client needs
- Use CRM software to manage client relationships and track leads
- Develop a feedback mechanism to improve service offerings
- Organise webinars and workshops to demonstrate expertise
- Build partnerships with complementary service providers for broadened offerings
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
