EXPERIENCE

Profits increase despite accounting books not being closed for three years


Problem:

A $28M general contractor had not closed its books in over three years and had lost most of its transaction data. In addition, tax filings were delinquent and no qualified accountant was on staff.


Solution:

Our team was able to recreate the Client’s financials using banking information and by quickly re-inputting all of the transaction data. Within six weeks, financial data for all three years was compiled, and the Client’s tax preparer was able to file the returns.


ADDITIONAL BENEFITS:

Our MAS90 specialist automated the Client’s Work-in-Progress reporting which allowed the Client to better monitor profitability.

Arranged an introduction to one of our banking relationships which enabled the Client to increase its credit line and refinance an existing building loan.

Because of these and many other changes, our Client was able to increase profits by $1M over a two-year period.




Corporate relocating without staff retraining


Problem:

A $30M nonprofit organization was planning to locate out of state. None of the existing accounting staff, some of whom had been with the organization for 20 years, were planning to relocate to the new location. The loss of these key personnel was also impacted by the organization's complex structure including multiple departments and foreign operations.


Solution:

With the assistance of some of our highly qualified technical partners, our solution involved hiring key personnel and setting up a remote link to the new out-of-state location. This allowed the Client to retain the talents and training of its accountants. As a result, the Client was able to focus on the logistics of its relocation and eliminate the need to rehire and retrain an entirely new accounting staff.


Additional benefits:

Created a monthly, automated one page “Scorecard” report allowing management to quickly review monthly results

Improved the accuracy and reliability of the Client’s reporting. As a result, the Client’s Board of Directors complimented our team on improving their confidence in the organization’s information.




Analyst steps in and decrease costs


Problem:

A $2M importer was struggling with its accounting personnel and inventory management. In addition, it was unable to accurately understand which products were profitable and which were not.


Solution:

Our team replaced the Client’s existing accountants with one of our staff on a part-time basis and supplemented the analysis and reporting with an experienced analyst. In addition to improving the Client’s accuracy and the timeliness of reporting, our Client’s personnel costs were reduced by 29%.


Additional benefits:

Reduced inventory variances, allowing the Client to reduce the need for additional warehouses.

Created profitability reports which assisted the Client in determining its inventory mix.  This information also helped to increase sales, resulting in improved profitability.

Trained the Client’s current inventory manager to fully understand and utilize its MAS90 system. This cut down on errors and the time needed to make corrections. The final result was improved inventory management, allowing the manager to better focus on working with freight carriers to reduce costs.