Digital engagement company reduces invoice cycle by one-third
Read more to learn how ModSquad saw their invoice cycle had been reduced by one-third of the time after implementation with Baker Tilly.
Client background
Founded in 2007, ModSquad has been on a torrid growth path. The company is bucking the trend of traditional customer support. Their “movement” is to lighten the load of digital engagement for global brands like the NFL, NBC, Sony Online Entertainment, Warner Bros., Zendesk and even the State Department. With operation centers in northern California and Northern Ireland and offices in San Francisco, London and New York, ModSquad’s more than 10,000 Mods around the world moderate content, chat with customers, manage communities and buzz in social media 24/7/365, in more than 50 languages and dialects.
David Wohlwend, Senior Director of Finance and Accounting, ModSquadBaker Tilly not only had the capability and experience that we required, but more importantly demonstrated from the outset the type of commitment to customer service that is the hallmark of ModSquad.
The business challenge
Given the company’s growth, back in 2014 ModSquad found that its current financial software could no longer meet its needs and was leading to a lot of manual effort:
- Billing worksheets took account managers many hours to complete each month
- Invoices were often delayed
- Financial and management reporting was not published in the cloud or visible in a timely manner
- With the addition of an operations center and subsidiary in Northern Ireland, global consolidation requirements created a real burden for the accounting team
- Integration between accounting systems and others (e.g., CRM and labor tracking) was virtually impossible
David Wohlwend, Senior Director of Finance and Accounting, ModSquadBaker Tilly has been there for us at every step and helped us meet some very aggressive targets for improving our business.
Strategy and solution
ModSquad’s Senior Director of Finance and Accounting, David Wohlwend, made it his personal mission to put in place the infrastructure to improve days sales outstanding, deliver more timely financial analysis (particularly around customer and project profitability) and ensure scalability to handle the company’s aggressive growth plans. After a rigorous evaluation, Baker Tilly was the clear answer.
Before working with Baker Tilly, invoices were created one by one from manually-prepared billing worksheets. The invoices were then circulated via email for review and often required changes. With Baker Tilly's guidance, ModSquad has seen meaningful benefits:
- Billable hours are tracked and recorded with greater precision
- Invoice cycle has been reduced by one third the time
- Integration with Salesforce streamlines project set-up
- Customer and project profitability reports are completely automated and available to every stakeholder
And on the scalability front, ModSquad has grown significantly since selecting Baker Tilly without the need to add a single accounting headcount.