Outsourced Accounting for a High Growth Manufacturers’ Representative Firm
Requirement: Outsourced Accounting
The client is a fast-growing manufacturers’ representative firm that distributes parts and engineering services to the commercial and industrial plumbing and heating markets. Up until now, the company’s accounting and financial operations were handled solely by the company’s owner, leaving them little time to attend to sales, operations, and employee matters. In addition, the company was newly onboarding to NetSuite, the world’s leading ERP system, and had little experience in optimizing the system to meet its growing needs. The client chose ProNexus to partner with on these initiatives because of their cloud-based technology, as well as their experience as a NetSuite Certified Partner.
ProNexus was engaged to provide a full array of outsourced accounting services to allow ownership to concentrate on sales and operation functions rather than the day-to-day accounting functions such as billing, accounts payable, cash management, closing the books and reporting. With ProNexus’ experience in NetSuite and bill.com, a digital accounts payable workflow software platform, ProNexus was able to take over nearly all the accounting functions currently being performed by ownership, while delivering these services 100% remotely.
ProNexus also worked on the optimization of certain functions such as billing and accounts payable to make them more efficient, while creating the proper separation of duties between departments. Lastly, new accounting reporting was developed to help analyze the performance of the business and CFO services were employed to help guide ownership in future endeavors.