Wired South LLC is a mid-size construction company that specializes in smart technology solutions. The president of the company had been the “acting accountant” for 9 years. However, in 2021 he realized that his self-taught accounting methods would not get the company where it needed to go in terms of growth and having the time, clarity and ability to focus on strategic imperatives. The company needed to free its key leader from the time-consuming tasks of invoicing, sending client reminders, and recording expenses in their accounting software to focus on the business.
The challenge for Wired South was to find a partner they could trust to take over the accounting responsibilities that the President had taken care of for so many years. This involved gaining an understanding of the company’s project management system to take over the invoicing process, streamlining their accounting processes, and improving their financial reporting to ensure that they had accurate and up-to-date financial information.
Brigade's Own It! Outsourced Accounting Streamlines Workflow and Solves Resource Challenges
The Brigade team worked with Wired South LLC to develop a comprehensive accounting and financial reporting system that included the following steps:
- Accounts receivable management including evaluation of the project management system and integrations for the accounting system in addition to the development of an accounts receivable manual to document the automated workflows and processes to improve invoicing timeliness.
- Accounts payable management including evaluation of the company's current bill pay system to identify any inefficiencies or errors that were impacting their financial reporting. Implementation of recommended software and process improvements to increase the efficiency and internal control over the spend management system.
- Financial reporting with a comprehensive financial reporting system that includes monthly and annual financial statements, as well as cash flow projections and budget reports. Brigade provides regular analysis of the financial data to help the company make informed business decisions.
Bringing in Brigade: Financial Insights and Freedom to Fuel Growth
Wired South’s leadership now has more time to focus on securing larger contracts and meeting with clients, while the new, upgraded accounting systems and financial reporting process improved financial reporting, accuracy, and efficiency. More informed business decisions based on regular financial analysis and reporting provided by Brigade has streamlined Wired South’s processes and increased their financial confidence to focus on growth in the construction industry with informed business decisions and increased financial stability.
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