Case Studies & Best Practices
Below are several case studies detailing some of the financial challenges our clients have faced, the accounting solutions we provided to address those challenges, and the ROI they achieved as a result. Each case study also includes relevant best practices that you can apply to help grow and scale your own business.
In February of 2017, DeviantArt, an online social community for artists and art enthusiasts was acquired by Israel-based web design company Wix.
A growing internet marketing company was not tracking their employee utilization and was unable to calculate and analyze the profitability of each of their clients.
A rapidly growing brewery had limited to no internal accounting function. The financial information they did have was not reliable, profit margins were unknown, and there was no inventory system in place.
An expanding international distribution company needed an increase in their line of credit; however, financial institutions were struggling to understand the financial information provided by the company which was their income statement and balance sheet exported directly from their accounting software.
A broadcast media company believed they needed a significant capital infusion to support their growth plans, but were uncertain when and how much capital would be required.
A biotechnology company did not have valuable financial information to help facilitate their Board of Directors meetings. The CEO was embarrassed that he was only able to provide financial statements directly from their accounting system, which were difficult for the board members to interpret.
A subsidiary of an international technology device company had inaccurate financials which resulted in an inaccurate tax payment calculation. The company had assumed that their tax preparer had reviewed their financial information for accuracy – which is a common misconception.
A biotechnology company engaged an audit firm to perform their first financial statement audit which they intended to provide to potential investors. Once the audit was underway, management realized they were not prepared for the process and it was leading to additional fees and significant delays. Five months into the process which was initially estimated to only last one month, the company realized they needed help.