Retail business consolidates its financial management solutions

Client background

This family owned, multi-entity retail business was established in 1975, and now includes a grocery store, fitness center, laundromat, greenhouse, gas station, bowling alley and liquor store. The business has experienced steady growth year over year and expects continued growth.

The business challenge

Having experienced steady growth over the years and introducing new lines of business into their portfolio, the client wanted to have all their lines of business in one financial management solution and to use the same accounts payable workflow. Their existing setup required manual manipulation to produce financial statements and various consolidation reports, which was time consuming and jeopardized overall data quality. As part of their efforts to consolidate financial management solutions, the owners wanted to implement a more robust cloud-based accounting system, allowing for easier scaling as their business grows.

Strategy and solution

Upon completion of a comprehensive software evaluation, the client selected Sage Intacct as their financial management solution to be implemented across all business entities. Collaborating with the client, Baker Tilly leveraged our proven cloud implementation approach:

• Designed, built, tested and deployed their new cloud-based financial management solution
• Defined their reporting requirements for each line of business and from a consolidation perspective
• Delivered a set of dynamic, tailored reports to address a gap in the existing dashboard, reporting and analytic capabilities
• Optimized and automated the accounts payable process
• Standardized and streamlined their cash management processes by each line of business
• Maintained rigorous project and quality management measures, to ensure on budget and on time delivery

After the evaluation and implementation process, the client ‘s new single financial management solution contains each of their various entities and lines of business, as well as complete data visibility across the entire organization. The client now enjoys timely, detailed and dynamic reporting to help them effectively manage their business anytime, anywhere and helps to enable additional business growth.