$8M Marketing Consulting Firm

Client Goals:
Improve quality and timeliness of financial reporting to facilitate strategic business decisions, reduce costs and get CFO-level strategic guidance to facilitate growth through acquisitions.
Pain Points:
The company’s owners and board of directors lacked confidence in its in-house accounting team’s work product due to:

• Inaccurate financial statements with errors in cash flow forecasts of up to $600,000
• Perpetually late reporting
• Management’s inability to make business decisions with confidence
• Expensive accounting infrastructure due to manual processes

ALC’s Solutions:
A business consultant referred the company’s CEO to ALC. Since replacing the company’s in-house team, ALC has:

• Migrated on-site Quickbooks to the Cloud and implemented paperless bill-pay technology, improving A/R turnover, employee reimbursement policies and procedures and reducing the risk of fraud and employee embezzlement
• Trained staff on new technology platforms, optimizing efficiency
• Introduced a new banking and financing resource to support the company’s growth through acquisitions. ALC’s reputation at the bank for providing quality, trustworthy financial statements contributed to an aggressive financing package
• Identified operating bottlenecks from manual work or duplicative processes
• Quickly applied for a loan under the SBA’s Payment Protection Program (PPP), which was funded within 30 days, and submitted loan forgiveness application

Client Benefits:
Within a few months of ALC’s engagement, the company has achieved:

• Over $100,000 in annual savings from lower accounting and finance costs
• Increased access to financing by nearly $1 million
• Strategic acquisitions with full confidence that a fair price was paid and the investment decision was supported with accurate forecasted cash flow data