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Finance Transition & Transformation

Sikich

Nov 30 2022

2 min read

CLIENT BACKGROUND

For more than 20 years, this company has been the leading provider of residential real estate photography in the U.S. and an innovator within the industry introducing new technology and editing techniques.

Overview

The company was reliant on an accounting department run entirely by one person with the support of an A/R clerk. This person could only provide bare minimum reporting on often delayed time schedules. Processes in place were extremely manual, outdated, and lacked a single page of documentation. The Finance Transformation team was brought in to help with the transition of this person, who was preparing for retirement, while simultaneously revamping the core processes, infrastructure, and deploying sophisticated reporting and modeling solutions.

Our Approach and Results

The team’s tasks included the following:

Reviewed all processes, workflow, roles and responsibilities as it relates to daily and monthly tasks, planned and implemented new processes to optimize performance
Learned, executed, and documented complex and voluminous transactional accounting tasks despite an early exit from the department head
Implemented new reporting and automation for bi-weekly payment for over 200 subcontractors, 30 hourly employees and 20 salespeople including commission payment visibility and modeling
Worked closely with the senior leadership team and department heads to produce an accurate budget to actual reporting and aid in budgeting review in the face of missed revenue targets
Provided C-suite support related to board meeting preparation and deck review

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. 