Issues:
- Boutique firm operating with a lean staff
- Lack of efficient processes
- Quick turn at month’s end for payroll and commissions
One of the key struggles small businesses face is how to manage the daily accounting duties and responsibilities without the backend support of a large staff. Oftentimes, employees in small businesses and boutique firms wear many hats. It’s an “all hands-on deck” approach to keep the wheels turning. This team approach is woven into the very fabric of small businesses, and these companies thrive on their relationships with service partners like Venturity to fill essential roles without hiring internal staff.
Client Relationship Highlights
- Office manager had an existing relationship with Venturity through her previous job.
- First hired Venturity in 2016 to streamline processes, provide daily accounting support and manage month-end close.
- We stepped in as back-up when the client needed a flexible solution with resources at the ready. From covering leaves of absences, to taking over accounting processes due to turnover, Venturity has been there.
Challenges Driving Change
As a small, boutique law firm, Venturity’s client operated with a lean staff, which at times contributed to a lag in efficiency and productivity. When a new office manager started with the firm in 2016, she was confident we could fill the needs within her accounting department.
Not only did the office manager wear many hats in her position, the lack of processes in accounting limited the depth of information provided to the Partners in the firm. A complicated payroll and commissions structure necessitated a quick turnaround at month’s end, but without efficient processes in place, month-end close was a constant struggle.
At the onset of the relationship, Venturity stepped in to support the office manager in her daily accounting tasks and augmented her role by taking over month-end close responsibilities. Venturity’s experts automated processes, which reduced errors and turn-around time.
Freedom to Focus on Growing Your Business
No business should be left vulnerable when an essential team member is out on leave or makes a career move. When the office manager took time off for maternity leave, Venturity knew the processes and was able to seamlessly step into her role, keeping critical, daily tasks moving without any downtime. While she was out, Venturity’s team even took the opportunity to further improve the client’s accounting experience by streamlining a critical process with automation.
When the time came for the office manager to take a new job at another company, Venturity was the clear choice to maintain continuity in critical tasks.
Venturity provides clients with the security they need, freeing them to focus on managing and growing their business.
Key Outcomes for Our Client
- Revamped accounting processes to improve efficiencies, established a scope that supported the office manager and met the reporting needs of the Partners.
- Provided a cost-efficient solution, making the best use of skills and expertise with the resources at hand.
- Further streamlined processes during office manager’s maternity leave and automated commission tracking/payment system,resulting in reduced process time and errors.
- Trained additional team members to reduce client’s exposure and dependence on only one person.
- Stepped in when the office manager moved on to a new company, maintaining progression and flow in accounting processes.
When you partner with Venturity, your processes will be evaluated with a critical eye in order to improve the day-to-day tasks and increase efficiencies that save you time, money and headache in the long run. Venturity provides clients with the confidence that critical tasks are managed with care, consistency and the best interest of your business in mind.
