MindSpace Outsourcing Services Pvt. Ltd.

BACKGROUND

Introduce your business and what you do there.

I’m the founder and managing director of a software company named Mclowd.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with MindSpace Outsourcing Services Pvt. Ltd.?

At the time, we were a bootstrap startup and we needed to find an efficient way to manage our monthly accounting process.

SOLUTION

What was the scope of their involvement?

They remotely managed our accounting processes and bookkeeping with minimal instruction. We set up online processes and email addresses. We had a call once a quarter with one of their staff members, and they coordinated the tax process with a local accountant.

What is the team composition?

I occasionally engaged with the owners of MindSpace Outsourcing.

How did you come to work with MindSpace Outsourcing Services Pvt. Ltd.?

We found them through a referral.

How much have you invested with them?
We spent about $1,500 per year (approximately $15,000 in total).

What is the status of this engagement?

We started working with them about 10 years ago in June 2011, but we needed to bring it in-house in March 2021.  

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

They clearly knew the industry. Once the system was set up, it ran with minimal input from us. As a result, they were always able to prepare our tax returns. They freed up our time and provided us with peace of mind because we knew our bookkeeping was well-managed.

How did MindSpace Outsourcing Services Pvt. Ltd. perform from a project management standpoint?

They were very responsive, which was very important because they were working remotely. Otherwise, the entire process could get bogged down. They consistently delivered what we wanted, which built up our confidence in them. We generally communicated via email.

What did you find most impressive about them?

They were extremely responsive. That was key to the success of our partnership. Communication was smooth and prompt. They ensured that all tasks were finished quickly. Whenever I had questions, they replied quickly and we communicated regularly until the issue was resolved.

Are there any areas they could improve?

There isn’t anything they need to improve.

Do you have any advice for potential customers?

Invest time into setting everything up properly at the beginning of the project.

BACKGROUND

Please describe your company and your position there.

President of retail coffee enterprise and President of commercial and residential real estate development firm

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire MindSpace Outsourcing Services Pvt. Ltd.?

Set up and maintain books for 10+ entities, payroll, quarterly taxes, p&l’s, complete accounting services aside from federal income tax returns.

What were your goals for this engagement?

Full service accounting partner

SOLUTION

How did you select this vendor?

Skype video interview and reference checks

Describe the engagement in detail.

I have a full time and part time staff accountant assigned to my account as well as project manager. I never worry about the work getting done.

Describe their billing or cost structure.

Hourly and project bid

What was the team composition?

Accountant, assistant accountant, project manager

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

Best accounting arrangement I’ve had over 30 years.

How effective was the workflow between your team and theirs?

4 of 5 stars. Once you get used to working with different time zone it flows well.

What did you find most impressive about this company?

Worry free. I have a team of at my disposal ready and willing to carry out my needs. Ultra trustworthy. Excellent service ethic. They go above and beyond.

Are there any areas for improvement?

Just keep a checklist of weekly and monthly tasks and work from it

BACKGROUND

Please describe your company and position.

I am the CEO & Co-Founder of Probably Genetic

Describe what your company does in a single sentence.

probably Genetic helps undiagnosed rare disease patients find answers to their symptoms in a matter of weeks

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• Tax carryback project successfully managed by Mindspace Outsourcing.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

• Online Search
• Clutch Site

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Pricing fit our budget
• Good value for cost

Describe the scope of work in detail. Please include a summary of key deliverables.

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RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Successfully completed by Mindspace Outsourcing.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Their project management was excellent throughout the engagement. The team at Mindspace Outsourcing delivered everything on time and kept me updated at every stage. They were very responsive whenever I had questions or needed adjustments, and they handled my accounting tasks professionally and efficiently.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

What impressed me most about Mindspace Outsourcing was their attention to detail and strong communication. They made the entire accounting process stress-free and were always proactive in providing updates and solutions whenever needed.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

nah

BACKGROUND

Please describe your company and position.

I am the President & CEO at McKenney Financial Group of McKenney Financial Group

Describe what your company does in a single sentence.

Providing comprehensive financial planning, wealth, and risk management for quality business owners, professionals and executives.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• Back office operations handled efficiently by Mindspace Outsourcing.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

• Online Search
• Referral

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Great culture fit
• Good value for cost

How many teammates from MindSpace Outsourcing Services Pvt. Ltd. were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

1. Administrative Support (Operations + Coordination) Handled task intake, prioritization, and execution based on urgency and deadlines. Managed scheduling and calendar coordination, including appointments, reminders, and confirmations. Supported inbox and administrative workflows such as drafting responses, organizing messages, and highlighting urgent items. Proactively followed up on pending tasks to ensure smooth progress, while maintaining well-organized records of requests, decisions, and outcomes for easy reference all efficiently managed by Mindspace Outsourcing. 
2. Documentation, Formatting & File Management Developed and updated documents, templates, and spreadsheets according to specifications. Improved formatting for clarity and consistency, including naming conventions, version control, and structured file organization. Delivered polished, client ready materials that were well-structured, professional, and easy to use through Mindspace Outsourcing.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Mindspace Outsourcing delivered consistent, measurable results through dependable day-to-day execution. Tasks were completed promptly within set timelines, without the need for repeated follow ups. 
They provided ongoing administrative and marketing support, ensuring routine responsibilities were handled efficiently while also responding quickly to new requests. The result was enhanced responsiveness, improved organization, and steady progress across both daily operations and ad hoc priorities.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Mindspace Outsourcing demonstrated reliable and well structured project management, effectively tracking incoming requests, clarifying requirements when necessary, and prioritizing tasks to ensure nothing was overlooked. Deliverables were consistently completed on time, with tasks closed out as committed. They remained highly responsive, handled ad hoc requests smoothly, and adapted to changing priorities while maintaining steady progress on daily responsibilities.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

What stood out most about Mindspace Outsourcing was their reliability and ease of collaboration. They were highly responsive, followed instructions carefully, and consistently delivered as expected without the need for repeated follow ups. Their organized and proactive approach ensured daily tasks were handled efficiently while seamlessly adapting to shifting priorities, making the entire experience smooth, professional, and well-managed from start to finish.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

The experience was positive and the work was delivered as requested.

BACKGROUND

Please describe your company and position.

I am the Creative Director & Managing Security Consultant of IBM

Describe what your company does in a single sentence.

At IBM, we do more than work. We create. We create as technologists, developers, and engineers. We create with our partners. 

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• General accounting and financial reporting

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

• Referral
• Clutch Site

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Great culture fit
• Company values aligned

Describe the scope of work in detail. Please include a summary of key deliverables.

MindSpace Outsourcing provided end-to-end financial accounting support, including managing the monthly close process and preparing both individual and consolidated financial statements within 10 working days after month end. They also handled accounts receivable and collections, including designing an effective follow-up process, and managed sales tax registrations and filings to ensure compliance.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

 1: Timely completion of monthly closing activities with consistent delivery of accurate financial statements.

2: Improvement in accounts receivable efficiency, reflected in reduced A/R days and better collection cycles.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

The assigned team member from MindSpace Outsourcing was highly knowledgeable and clearly understood our expectations, consistently meeting and even exceeding the KPIs established at the start of the project. They also identified and implemented key process improvements that enhanced overall workflow efficiency. In addition, they collaborated effectively with our internal teams across departments and delivered excellent support to everyone they interacted with.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• In-Person Meeting
• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

MindSpace Outsourcing demonstrated strong responsiveness to our needs, showing flexibility in adapting to our specific requirements. They were open to adjustments and worked collaboratively to set clear, mutually agreed expectations, ensuring smooth execution throughout the engagement.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

None so far.

BACKGROUND

Please describe your company and position.

I am the CEO of Rise Analytics

Describe what your company does in a single sentence.

Rise Analytics, a Trellance Company, empowers credit unions with cutting-edge analytics, AI and machine learning to turn data into actionable strategies. With deep industry expertise and innovative data solutions, Rise Analytics helps credit unions make smarter decisions, drive meaningful outcomes and achieve long-term success. Their powerful combination of technology and advisory services ensures every insight leads to impact.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

We engaged MindSpace Outsourcing Services Pvt. Ltd. with the clear objective of streamlining our internal financial operations. As Rise Analytics expanded, the complexity of managing bookkeeping, tax preparation, and monthly reconciliations grew significantly. Our goal was to ensure accuracy in financial reporting, reduce the administrative burden on our internal team, and create a reliable system that would support strategic decision-making. 
We wanted a partner who could not only handle routine bookkeeping but also anticipate challenges and provide proactive solutions.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

• Online Search
• Clutch Site

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Pricing fit our budget
• Great culture fit
• Good value for cost
• Company values aligned

How many teammates from MindSpace Outsourcing Services Pvt. Ltd. were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

The scope of work was extensive. MindSpace handled day-to-day bookkeeping, including accounts payable and receivable, general ledger maintenance, and monthly reconciliations. They also managed tax-related services, ensuring compliance with regulatory requirements and preparing documentation well ahead of deadlines. One of the key deliverables was a structured monthly financial report tailored to our leadership team. 
These reports were not generic templates but customized insights that highlighted trends, flagged anomalies, and provided actionable recommendations. Additionally, they created a system for tracking recurring expenses and forecasting cash flow, which proved invaluable for our planning.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

The outcomes were evident in several ways. Our financial records became more organized and transparent, which allowed us to make faster and more informed decisions. The accuracy of tax filings improved, reducing the risk of penalties and saving us considerable time during audits. 
The monthly reports provided by MindSpace became a cornerstone of our executive meetings, guiding discussions on resource allocation and investment strategies. Another success was the reduction in manual errors and duplication of effort, which freed our internal staff to focus on higher-value tasks. These tangible improvements demonstrated the effectiveness of their work.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Their project management was exemplary. Every deliverable was provided on time, often earlier than expected, which gave us breathing room to review and discuss internally. Communication was seamless; whenever we raised a question or requested clarification, their team responded promptly with detailed explanations. 
They demonstrated flexibility by adapting to our evolving needs, such as incorporating new analytics categories into the bookkeeping framework. What stood out was their ability to anticipate our requirements rather than simply reacting to them. This proactive approach made us feel supported and confident in their capabilities.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

What impressed us most was their ability to combine technical precision with a deep understanding of business context. Unlike other firms that simply process numbers, MindSpace took the time to understand our industry and tailored their services accordingly. Their reports were not just accurate but insightful, often highlighting patterns we had overlooked. 
The team’s professionalism and consistency built trust quickly. Another unique aspect was their ability to integrate seamlessly with our existing systems without requiring disruptive changes. This adaptability made the transition smooth and efficient.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

While our experience was overwhelmingly positive, one area for improvement could be the expansion of their advisory services. Their bookkeeping and compliance work was flawless, but we believe they could add even more value by offering periodic strategic sessions to discuss broader financial planning. This would complement their operational excellence with forward-looking guidance. 
That said, this is more of a suggestion than a criticism, as their current services already exceed expectations. Final Thoughts Working with MindSpace Outsourcing Services Pvt. Ltd. has been a transformative experience for Rise Analytics. They provided not only the technical expertise we needed but also the reliability and foresight that every growing company values. 
Their partnership has allowed us to focus on our core mission of empowering credit unions with analytics and AI, knowing that our financial operations are in expert hands.

BACKGROUND

Please describe your company and position.

I am the Economics Reporter of The Wall Street Journal

Describe what your company does in a single sentence.

The Wall Street Journal includes coverage of U.S. and world news, politics, arts, culture, lifestyle, sports, health and more.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• We hired MindSpace Outsourcing to manage our bookkeeping and accounting operations so our internal team could focus on core publishing activities. Our goals were to maintain accurate financial records, streamline monthly bookkeeping, manage tax-related tasks, and improve overall cost efficiency for our newspaper operations.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

• Online Search
• Clutch Site

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• Pricing fit our budget
• Good value for cost

How many teammates from MindSpace Outsourcing Services Pvt. Ltd. were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

MindSpace Outsourcing handled our day to day bookkeeping, general ledger maintenance, monthly financial reporting, tax support, and bank reconciliation. Their services helped organize revenue streams from subscriptions, advertising, and distribution while ensuring expenses were tracked accurately.
Key deliverables included reconciled bank statements, monthly financial reports, general ledger updates, and ongoing bookkeeping support.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Their work significantly improved the accuracy and organization of our financial records. Month-end closing became faster, discrepancies were reduced, and we gained clearer visibility into revenue and operating costs. Outsourcing these tasks also helped us lower internal overhead and improve financial planning.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

MindSpace Outsourcing demonstrated strong project management throughout the engagement. They consistently met deadlines, communicated clearly, and responded promptly to our requests. Their proactive approach ensured smooth coordination and reliable ongoing support

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

What stood out most was their attention to detail and understanding of the financial needs of content driven businesses. MindSpace Outsourcing provided dependable, cost effective bookkeeping services that allowed us to operate more efficiently while maintaining financial accuracy.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

We were very satisfied with their services and did not identify any areas that required improvement.

BACKGROUND

Please describe your company and position.

I am the Co-founder of ClearTone Consulting LLC

Describe what your company does in a single sentence.

Helping nonprofit organizations and small and medium-sized companies navigate the complex world of cybersecurity and privacy protections, products, vendors, and regulations.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• we aimed to improve the accuracy of our financial reporting, manage cash flow more effectively, and reduce the administrative burden on our internal team.
• We were facing challenges with inconsistent data, time-consuming manual processes, and the complexity of compliance with financial regulations in the tech sector. Our primary goal was to achieve a streamlined, efficient accounting process that would enable us to focus more on our core business functions.

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

Referral

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• High ratings
• Pricing fit our budget
• Great culture fit
• Good value for cost
• Referred to me
• Company values aligned

Describe the scope of work in detail. Please include a summary of key deliverables.

They provided a comprehensive suite of FAO solutions tailored to our specific needs. The scope of work included:

 -Comprehensive bookkeeping services, including accounts payable and receivable management.
- Preparation of monthly financial reports, including profit and loss statements, balance sheets, and cash flow statements.
- Implementation of automated financial tools and systems that integrated with our existing IT infrastructure.
- Ongoing financial advisory services to help us make informed strategic decisions.

Key deliverables included timely and accurate financial reports, reconciled accounts, and a user-friendly dashboard that allowed us to track our financial performance in real-time.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

The impact of our collaboration with MindSpace was significant. Key measurable outcomes included:

- A 40% reduction in the time our team spent on financial management tasks, allowing us to redirect resources toward project development and client engagement.
- Enhanced accuracy in financial reporting, which led to improved forecasting and budget management.
- Improved cash flow management contributed to a 20% increase in our operational efficiency.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

MindSpace’s project management process was exemplary. They consistently delivered work on or ahead of schedule, and their responsiveness to our needs was exceptional. They maintained open communication channels, providing regular updates and being readily available to address any questions or concerns.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

What stood out most about MindSpace Outsourcing was their deep understanding of the unique challenges faced by our company. Their team not only provided accounting services but also offered strategic insights that helped us refine our financial practices. Their proactive approach and tailored solutions truly differentiated them from other outsourcing firms we considered.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

While our overall experience was overwhelmingly positive, there’s always space for enhancements. One suggestion would be to offer more training sessions for our staff to better understand the financial tools they implemented, which could further empower our team and optimize the utilization of those systems.

BACKGROUND

Please describe your company and position.

I am the CEO & Founder of Struxtion

Describe what your company does in a single sentence.

Struxtion is a technology enabled financial services and vertical banking solution for commercial construction. Our products are built solely for construction resulting in increased operating efficiencies, accelerated payments, and reduced risk for all stakeholders in the value chain.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MindSpace Outsourcing Services Pvt. Ltd. to accomplish?

• To assist us with various accounting services.
• Finance & Accounting Outsourcing (FAO)

SOLUTION

How did you find MindSpace Outsourcing Services Pvt. Ltd.?

• Online Search
• Referral

Why did you select MindSpace Outsourcing Services Pvt. Ltd. over others?

• High ratings
• Pricing fit our budget
• Great culture fit
• Good value for cost
• Company values aligned

Describe the scope of work in detail. Please include a summary of key deliverables.

MindSpace Outsourcing Services Pvt. Ltd took over our QuickBooks account, assuming a CFO-like role. At the end of each month, they deliver a comprehensive financial package with 10–12 detailed reports. This information helps us analyze client margins and other critical details. Additionally, as we begin to raise funds, they prepare the necessary financial reports for that process.
provides our standard QuickBooks bookkeeping, managing our invoicing, accounts payable, and accounts receivable.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

The impact has been significant; I can provide my investors with professional monthly financial reports that impress them with their clarity and detail.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

MindSpace Outsourcing Services Pvt. Ltd has always made time for us. We’ve established a smooth workflow that they understand well, and we haven’t encountered any issues.

What was your primary form of communication with MindSpace Outsourcing Services Pvt. Ltd.?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

What impressed us most about MindSpace Outsourcing was their depth of understanding of the construction industry and the specific nuances involved in construction accounting. Their team was not only skilled but also approachable, ensuring that we felt supported throughout the engagement.

Are there any areas for improvement or something MindSpace Outsourcing Services Pvt. Ltd. could have done differently?

There haven’t been any areas identified for improvement thus far.