Process Improvement and Modeling

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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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This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

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