GilbertFIT Solves Problems

A GilbertFIT Case Study – Part Detective, Part Accountant

The Problem:

One of our clients came to us to solve a difficult and immediate problem. A key financial employee retired without having trained a replacement or documenting their accounting process. As is the case with many longstanding small and medium sized businesses, supporting documents and key data were trapped in old legacy software. The accounting system was also an extremely complicated web of interconnected spreadsheets. The Gilbert team combined their collective experience in multiple disciplines – forensic services and financial accounting – to provide their client with the strategic advice and practical solutions to solve the problem. And it was all done for a substantially lower cost than a full-time staff employee.

The GilbertFIT Solution:

As part of the GilbertFIT process, we started with a review of all supporting documents used by the former employee. Bit-by-bit, we forensically reconstructed how the old processes worked in the outdated software, what data was used to create reports and why spreadsheets were needed. Once we understood the old methodology, we simplified the process to begin producing needed financial data and reports. At the same time, we constructed new processes in a better software solution with complete documentation so that their accounting system will never rely upon the knowledge of a single individual.

The Result:

Our GilbertFIT client currently enjoys the same level of reporting output they had before but with many more robust features and benefits. We offered a clear roadmap for financial information management resulting in more frequent financial reporting, higher quality reports, simplified systems, documented processes and the ability to access all reports online.  In addition, we provided our client with strategic CFO-level advice and insights based on industry experience gathered over 25 years. All of these added benefits were delivered at a cost substantially less than a full-time staff accountant.

What can GilbertFIT do for your business?  Give us a call and find out!