In 2016, a restaurant client with three locations elected to purchase the real estate for each site. The moment they got a new loan and closed the purchase, it propelled them out of compliance with their bank covenants. At that point, they learned the banks would no longer loan them money to build the next three stores planned for the following year.
In May 2018 we announced our Trusted CFO Solutions partnership with GetLinked. Here are a few things we’ve been doing with it, and examples of how we save time and money.
What Is Tallie?
Tallie is the accounting industry’s preferred expense report software solution. In mid-2017 the investment firm K1 invested over $125 million to form the largest independent expense management software company. The company merger brought together expense management software leaders Certify, Nexonia, ExpenseWatch, and Tallie.
At Trusted CFO Solutions, our restaurant clients partner with us to elevate their business from low-level financial visibility to an eagle’s eye view, soaring above the details.
What is Salesforce?
SalesForce is rated the number one CRM (Customer Relationship Management) tool in the WORLD.
What is Avalara, How Do We Use It, and Who Does it Best Serve?
In a nutshell, Avalara is a software to get your business tax compliance done right. It’s tax automation for businesses with real-time tax calculation and automatic returns filing.
How We Use It and Why
Bill.com is a front-end inbox for the invoices our clients need to pay. All the invoices our clients receive come into this inbox where they quickly process them. We also use it as a paperless document management tool where we can store all client’s invoices.
What does implementation handled for you look like?
Trusted CFO Solutions wants help business owners and their teams get to the next level. We understand you don’t have the time to learn when you’re overwhelmed with all that needs doing. We’ll translate what you need to know and teach from the top down.
The team subsequently repeats behaviors throughout the organization as they get the inefficient work off of them.
Financial teams across Atlanta are dealing with the disorganized chaos of their department. And, the business owner or CEO has offloaded the responsibility of fixing it to their shoulders, usually the controller.
Thus, controllers usually know and feel the pain. They know what’s going on and the requirement for resolution. In fact, they’ll want to fix it immediately by expanding their non-functioning accounting department.
When it comes to switching systems, what happens to my financial history (even the old stuff)? Does the baby go out with the bath water?
The Financial Services Expertise Series: This training article is for financial professionals.
We covered in last month’s blog the disconnect where financial professionals talk about things our clients did not ask us to address. We concluded we could close the gap when we offer our clients proactive advice, provide dashboards, and anticipate their pain points. This article will cover rethinking client communication, what that looks like, and three things clients desire.
The Financial Services Expertise Series: This training article is for CPA professionals.
As a restaurant owner, CEO or Manager, can you guess what the number one reason clients in our 2016 survey said they left their CPA firm?
At the 2016 AICPA Tech Workshop, we solicited our participants to guess the reason they believe clients leave. Below are their responses.
- Lack of Responsiveness
- Poor Culture
- Perceived Indifference
- No Proactive Advice
Which one of the four responses do you think is the number one reason clients left their CPA firm? If you chose No Proactive Advice, you are right! It was not any of the other three or the price, often a mentioned response. When a client does not receive proactive advice, they grow tired of looking in the rearview mirror, especially when it comes to their accounting.