Commercial finance company streamlines key accounting processes
Read more to learn how Crystal Financial gained the ability to report on consolidated entries with Baker Tilly.
Client background
Crystal Financial provides senior and junior secured revolvers and term loans for both asset-based and cash flow financings to middle market companies. It provides capital to sponsored and nonsponsored companies, either as a sole lender or in conjunction with banks and other lenders. Typically, financings are in excess of $10 million. They provide a consistent source of capital throughout a business’ life cycle, as well as in varying economic conditions.
Julie Monahan, Controller, Crystal FinancialBaker Tilly was instrumental in helping us create the templates needed for our business operations and for the import our financial data. They continue to work with us, long after our implementation, to make sure we are utilizing Sage Intacct per our specific business needs and budget. Having a contact person at Baker Tilly to reach out to is priceless.
The business challenge
Crystal Financial utilized QuickBooks for its accounting and general ledger functions. Working in QuickBooks became cumbersome and involved long and drawn-out manual processes. In addition, with an acquisition in 2012, Crystal Financial’s statements began to be incorporated into public filings. They needed a new accounting solution that could: