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Financial Process Creation and Implementation

Sikich

Nov 30 2022

2 min read

CLIENT BACKGROUND

An outsourced recruiting services company specializing in recruiting for information technology, human resources, and marketing positions for companies located in the Chicago-land area. The company had built a solid portfolio across its verticals but wanted to be poised to capture stronger growth going forward.

Overview

After using a more distant managed-service accounting vendor previously, the founder wanted a robust finance/accounting solution that would offer improved, streamlined services to the granular level. Also, there was no formal monthly financial review, which limited operational decision making significantly. Lastly, with underlying partner issues and misalignment of vision, the Sikich Managed Accounting team was positioned to help at both fundamental and strategic levels for the client

Our Approach and Results

The team’s tasks included the following:

Took on a comprehensive finance role including managed services, (invoicing, banking transactions) transactional close, and monthly financial statement preparation and analysis.
Set up of financial infrastructure for the finance/accounting function and worked directly with the CEO to ensure the structure of operations would go smoothly with the business model
Created a monthly financial package as well as reporting tools and processes, working with all departments of the organization to create data-driven dashboards that combined financial and operational metrics
Implemented new finance/accounting processes to better capture gross-margin by business line (HR, IT, Marketing) analysis
Assisted CEO with partner buy-out and navigating strategic refresh for firm go-forward

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. 