Closing the gap: Streamlining accounting and reporting for operational focus
Following multiple acquisitions, a Napa Valley winery faced disconnected systems, inefficient close processes, and incomplete financial records. Baker Tilly’s Managed Services established a standardized, accurate, and efficient accounting function.
Client background
The client is a wine organization that has recently expanded through multiple acquisitions. This growth left them with an understaffed internal accounting team with limited resources along with systems that were not fully integrated. As a result, maintaining consistent financial records and supporting operations across entities became more challenging.
Client need and business challenge
The client needed to eliminate a backlog of incomplete financial records and streamline their month end-close process. The existing procedures created challenges in consolidated reporting and financial statement accuracy, and the lack of real-time visibility hindered timely enterprise decision-making.
Following multiple acquisitions, the organization was managing several systems and increased demands on internal resources, which contributed to gaps in closing the books and delays in financial processes. Without cohesive workflows, reporting accuracy became harder to maintain, and leadership had less capacity to focus on forward looking strategy.
Baker Tilly solution
Baker Tilly assisted with a comprehensive accounting cleanup, ensuring all financial records were brought up to date. During this process, the team improved transaction processing workflows and introduced standardized month-end close procedures to strengthen accuracy and efficiency. As the engagement matured, Baker Tilly assumed ownership of core financial operations, including facilitating exporting data from the general ledger and importing into NetSuite, managing bank feeds, posting payroll journal entries, and performing bank reconciliations, creating a reliable, scalable back-office structure.
Results achieved
Managed Services successfully eliminated a year of accounting backlog and enabled the client to meet internal reporting requirements. Month end close time was reduced by 40%, and reporting accuracy improved by more than 95%. This transformation freed the controller from transactional responsibilities, allowing them to redirect 50% of their time toward strategic planning and future operations, significantly enhancing organizational agility.
Let's build a stronger financial foundation together
To learn more about how Baker Tilly's Managed Services can support your organization's accounting and operational needs, contact our team.