find your solution.
search for solutions by category, industries, insights, and people.
search for solutions by category, industries, insights, and people.
search for solutions by category, industries, insights, and people.
Almost 20 years ago, the founder of a family-owned business began working with Elliott Davis on estate planning. About a decade later, nearly all the ownership had been transitioned to trusts for the next generation, using only a portion of the founding generation’s estate tax exemption. Since then, the organization has experienced tremendous growth, scaling from $50 million to close to $200 million in revenue. Thanks to this early planning, the business was successfully shifted out of the founder’s estate.
When the founder passed away after stepping back from day-to-day operations due to health issues, the business remained secure with no estate tax burden forcing a sale or rushed transition. That foresight laid the groundwork for the company’s next chapter: a leadership transition to one of the founder’s children, a capable and committed CEO now responsible for managing the business that represented the entire family’s wealth.
The company expanded rapidly, acquiring new businesses and entering new markets, yet its internal operations, especially in finance, struggled to keep up. Legacy systems and informal processes remained in place, even as the scale and complexity of the enterprise evolved.
The core challenges included:
The business needed a clear-eyed assessment of where it stood and a roadmap for where it was going.
Over the course of several months, the CEO began asking Elliott Davis for help with a growing list of operational pain points:
It quickly became clear that these weren’t isolated issues. They were symptoms of a larger problem. The business had scaled, but its systems, people, and processes hadn’t kept pace.
Recognizing the need for a more strategic solution, we recommended a comprehensive approach. We assembled an integrated, cross-functional team of specialists to conduct a full scorecard assessment of the client’s finance function. We evaluated:
Each area was rated red, yellow, or green based on current performance and future readiness.
The goal was to equip the client with the tools and structure they needed to support sustainable growth. We helped the CEO and leadership team understand what “good” looks like for a company of their size and ambition, and identified where their current operations weren’t meeting that benchmark.
The assessment revealed critical gaps and opportunities. We pinpointed the root causes of the high turnover and provided targeted, strategic recommendations. However, addressing staffing issues was just the beginning.
We delivered a roadmap to help the client build a finance function capable of supporting its next phase of growth. With documented procedures, clearly defined roles and improved integration across departments, the organization finally had the breathing room to focus on future growth rather than constantly putting out fires. The upgraded accounting team now operates with the structure and processes needed to sustain smooth, reliable operations.
Today, the client is actively pursuing more acquisitions and expanding into new regions. The business is thriving, and the CEO has greater peace of mind knowing that internal operations are aligned with the company’s scale and rate of expansion.
For family-owned businesses navigating generational transitions and rapid growth, this client’s story is a powerful reminder that legacy processes don’t have to hold you back. With the right advisor by your side, you can modernize with intention and build a business that’s ready to scale.
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.
