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Accounting Process Improvement

Accounting Process ImprovementIf you don’t have the right accounting processes in place, you are, most likely, operating your business based upon incomplete and faulty information. Some symptoms of flawed accounting processes include:

  • Your financial department typically takes action reactively, not proactively
  • Your financial statements are frequently late and/or incorrect
  • Your billings take too long or often need correction
  • Your inventory numbers seem ‘off’
  • You’re not sure how your business is doing at any given moment

We can help you improve your accounting department by developing new and streamlining existing procedures as well as instilling a highly-disciplined approach to task management. We’ll ensure that your department functions smoothly, that you receive timely, accurate financial information, and that you’re positioned to put it to best use.

Case Study: One Giant Black Hole

$18 million Global Marketing Service Organization

Overview

A marketing services firm had a vast organization of talented individuals who priced potential opportunities based upon their own experiences, causing disparity amongst the quotes. Furthermore, these estimates were never compared to the actual cost incurred, resulting in uncertainty regarding job profitability and the validity of the estimates, themselves.

Solution

Through extensive interviews and analysis, Sutker developed a consensual, standard pricing template that was used for all estimates. With the estimates’ standardized, Sutker, working with the Company’s IT Department, developed a labor tracking system that mirrored the estimating template, allowing for relevant actual vs. estimate analysis. Proving its value, Sutker became the Company's outsourced CFO.

Want to learn how Sutker Advisors can help improve your profitability?