Case Study
|
|
September 20, 2022

Distributor and finance processes, technology, and scalability

No items found.
Ready to find your business’ potential?
contact us
back to insights

Elliott Davis was asked: "We are growing at a rapid rate and are concerned about scaling our processes and providing visibility into business performance. Can you help?"

Context

  • An innovative, fast-growing direct-to-consumer outdoor furnishing brand needs relevant and timely financial reporting to foster fast decision making
  • Wants to improve inventory processes by leveraging technology to drive efficiencies
  • Requires support in scaling business via internal financial process improvement with a focus on long-term strategic goals
  • Would like to better understand activities by each state as it relates to nexus rules
  • Needs guidance in tax compliance, tax planning, and strategy

Our Approach

Fractional CFO Support

  • Prepare monthly financial statements and dashboard reporting
  • Identify KPIs and analyze monthly performance with owners
  • Complete conversion of case basis to GAAP statements for debt compliance and investment opportunities

Accounting & Tax Services

  • Customize chart of accounts to capture costs by channel for better decision making
  • Analyze standard cost changes to ensure COGS and inventory are accurate for fluctuations in material, labor, and freight
  • Perform month-end close including reconciliation of balance sheet accounts and variance analysis
  • Perform nexus study and setup registration and filings in respective states to ensure state compliance

Consulting Services

  • Create back-ordered item reports to facilitate demand planning
  • Assist with Oracle NetSuite implementation
  • Integrate Avalara software with Shopify for accurate and automated sales tax compliance across multiple states

Customer Impact

  • Ability to focus on marketing efforts and growth of business with confidence in Elliott Davis handling the accounting and finance function
  • Better leveraging of technology investments to meeting management reporting needs
  • Improved visibility into business performance and margin analysis
  • Increase confidence in tax compliance across states and federal government
  • Overall, has the ability to continue fast growth and has scalable processes and technology

We Can Help

For more information on how Elliott Davis can assist you and your business, contact a member of our team.

The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.

links and downloads.

Ready to find your business’ potential?

get in touch

download the white paper

meet the authors

No items found.

contact our team.