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Entity Registration / Financial Systems, Template for capturing notes,…
Entity Registration / Financial Systems
Decisions
Statutory records in place
Kforce Inc has 2 subsidiaries :
Kforce International Inc
and
Kforce India Inc
which will be holding company of the India entity (name options are already given) - Monica is sending a formal email on this.
Board of Directors of IDC
a) US Based Director #1:
Jeff Hackman
b) US Based Director #2:
Manish Mohan
c) India Based Director:
Chandra
Registered address in Pune
$500
(one-time for 1 year) -
Innovalus to drive (Action)
;
10th July This has been agreed by Kforce with Dave's consent to go with Innovalus (internally they are calling as one-seater office)
Audit firm for year #1: Deloitte (types of services to be given)
a) Option #1:
b) Option #2:
Exact Audit Firm will be finalised when Kforce team visits India in Aug 2024
To Explore Further
Infra & Facility
Decisions
1) What are the major milestones and timelines?; What are the key deliverables?; What approvals are needed from stakeholders?"
( Dec : 2024 first 13 members join IDC and Jan 15th 2025 , all 13 are billable employees)
:star:
2) What are the criteria for selecting the office space?; Which real estate agents will be engaged?; What are the lease terms?"
:star: Innovalus will facilitate the location and facility recommendations during Kforce SLT visit to Pune with CBRE & AWFIS
5) What are the laptop specifications?; Which vendors will be approached?; What software and development tools are required?"text
6) What are the performance and security standards?; Who will conduct the system testing?; What are the criteria for user acceptance testing?"
7) What ergonomic and safety standards must the office meet?; Who will inspect the office setup?
8) Go-Live & Inauguration of IDC . What are the steps to officially open the office?; Who will be part of Kforce USA
4) What network infrastructure is required?; Who will set up internet and VPN?; What servers and storage are needed?"
3) Who will design the office interior layout?; What is the estimated budget?; What office furniture and equipment are needed?"
Employee onboarding
1) For Go Live - What is the onboarding process?; What training programs are needed?; Who will conduct the training sessions?
2) What platform systems will be used for HR&Payroll for IDC ? How will these systems be integrated?; Answer - Zoho / Keka , both are excellent and Innovalus will use this for Payroll and HR purpose
12/7 New Action: List the responsibility of all the assets in the IDC.
Kforce Who's Who
John Dyer
- Compliance and Audit - Reports to Dave Kelly
Doug Rich
- Head of Transformation - reports to Dave Kelly
Gary Russell
- PMO Office - Reporting to Doug Rich
Monica Johnson
- Assistant Legal Counsel - Reports to Jennifer Smayda
Lynette Long
- Accounting - part of Jeff's team
Shelly Hartnett
- PMO Office - reporting to Gary Russell
Meredith Lewis-Covert
- Compliance, Policies IT+HR - reporting to John Dyer
Manish Mohan
- Head of People
Team Lunch with
Roshni
- Manish's PA
Greg
,
Gordon
,
Orlando Diaz
along with Manish Mohan
Ed Soto
- Tax compliance
Critical Action Items
Start of sourcing to achieve Jan 13th as the start of 12 people to be billed
Start of Onboarding - 2nd Dec
Per Seat Cost to be arrived at
Classification of employees (Billable vs Support)
Research on PayScale in Pune (should be part of business plan
Overall Cost structure of the center
Benefits framework for the IDC
Entity Registration
Key Decision's taken
:
Manish & Jeff will be the directors
India Enitity will have 2 holding companies
Kforce International
&
Kforce India Inc
are the holding companies of
Kforce India Development Centre
....
India Visit Actions
Partner Meetings
Plan parallel tracks for the Kforce team to meet people
Monica wanted to setup legal companies to meet with Jeff and Manis
Carry the Signed Documents while coming to India
Processes & Systems
Tally recommended for General Accounting AR/AP processses
Last working day of every month a data file consisting of xyz will be sent to Kforce US (Jeff)
Once the approval is done then.......
Carry out the following: month end activities
a) Disburse salary
b) File Income taxes
c) File PF
d) File Professional taxes
e) File monthly GST - input & output credits
Goals
Register a fully functional IDC on or before Dec 1, 2024
Template for capturing notes, actions & decisions during upcoming workshops