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Process Improvement and Modeling

Sikich

Nov 30 2022

1 min read

CLIENT BACKGROUND

A SaaS start-up (multi-million-dollar revenue) in the architecture industry centered around subscription-based training content for architects studying for the ARE exam.

Overview

After employing a remote managed-service accounting vendor, the CEO wanted a more sophisticated finance/accounting solution that would offer higher caliber services and more effective financial reviews. There was also no formal cash flow management or budgeting process, which constrained operational decision making.

Our Approach and Results

The team’s tasks included the following:

Clean-up prior year and YTD financials with new accrual accounting methodology.
Assumed a holistic finance role including transactional close, payroll, financial statement preparation, and analysis.
Built out a 26-week cash flow model as well as an operating budget.
Held weekly finance status meetings and monthly financial reviews to review cash projections weekly and company performance monthly.
Implemented new operational processes to provide visibility into profitability by business line.

The experience described in this case study was performed by Accelerated Growth, a company acquired by Sikich LLP on 11.30.2022. Please click here for more information about our Outsourced Accounting Services.

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About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 