Company Information: Founded in 1996, 14 locations, 160 employees, $35 million annual revenue
Industry: Automotive Repair
Project Scope: Resolve IRS and state audits, transform ERP and accounting systems into GAAP compliant structure, and construct a foundation for 60% revenue growth in direct services and internationally sourced product sales.
Teams: Controller, AP/ AR, External Accounting/ CPA, Administrative Support, Human Resources (HR)
Finance & Accounting
- Delivered 28% savings in insurance premiums through improved asset management.
- Recognized over $275,000 in tax savings through cost segregation and depreciation adjustments.
- Enhanced financial reporting to provide greater clarity in company performance, improved external reporting, and provided managers with resources for real time, data driven decision making.
- Revised accounting processes, providing over 70% reduction in accounts payable, 66% reduction in accounts receivable costs, cut intercompany loans by 48%, and 15% reduction in operating costs.
- Increased access to capital though improved financial policies, banking relationships, and debt restructure
Compliance/ Internal & External Audit
- Oversaw internal teams and external CPA engaged in IRS and state audits, resolving over $500,000 in liabilities in CA, FL, PA, IL, and NY, and reduced federal tax liabilities by over $1 million