A family owned, multi-entity craft beverage business experiencing steady growth. The client desired an outsourced accounting and advisory services partner, as the level of accounting expertise required surpassed the knowledge of their internal staff.
Given the steady growth of their business, the client needed a more robust accounting and financial management solution that could support their multiple entities. They needed an efficient means to complete consolidation activities and report on the health of their business across entities. Their existing paper-based, manual processes created inefficiencies and issues in delivering necessary financial reporting. The client wanted improved integration of data between systems as the current architecture was poorly integrated and redundant. Lastly, the client needed a new inventory management solution that could scale with their growing business and would integrate seamlessly with their financial management solution.
In collaboration with the client, Baker Tilly executed a three phased approach. First, we assessed their existing business processes and completed an optimization effort to ensure standardized and streamlined processes were in place and being utilized across the business. In the second phase, we collaborated with the client, leveraging our proven methodologies to design, build, test and deploy a new cloud-based financial management solution, Sage Intacct. We also helped the client select and deploy a ‘best in class’ inventory management system, to fully integrate with Sage Intacct. Furthermore, we identified the various sources of data and developed a process for combining those data sources into an integrated dashboard within Sage Intacct. This offered greater visibility into summarized financial data. In the last phase, we facilitated a transition with our reoccurring outsourced account resources, ensuring they were prepared to support their ongoing needs.
As an outcome of our project, the client deployed an integrated set of solutions simultaneously, effectively addressing their accounting, accounts payable, expense management and payroll needs. The client also received timely, comprehensive and dynamic reporting capabilities and dashboards within Sage Intacct, which could be easily accessed and leveraged as needed. Finally, the client gained worry-free management of their accounting and payroll functions, and access to additional subject matter knowledge, allowing leadership to focus their time on other aspects of their business.