Elliott Davis was asked: “We are growing fast and need to implement a new Enterprise Resource Planning (ERP) system and replace our current outsourced accounting team. Can you help?”
Context
- A leading real estate asset investment firm with 7 offices across 4 countries
- Oversees projects in residential, office, industrial and hospitality from concept to completion
- Business expanding with potential onboarding of up to 15 new assets in 2 years
- Current outsourced accounting team was not meeting business needs
- Needed to identify a new ERP system to support growth and implement with third- party applications
- Wanted on-time, high quality information for management team
Our Approach
- Completed an assessment of people, process and technology and collaborated with management to identify software solutions to me business needs
- During assessment, the team engaged to:
- Create short-term solution to support long- term software implementation
- Create new bill pay software account and established sync
- Assist with setup for online bank feeds and other integrations
- Provide training to users
- Create customized reporting
- Convert transactional data from previous ERP
- Additionally, the team provides ongoing services, including:
- Implementation support and sustainability of accounting system
- Syncing bank and credit cards to record receipts and distributions
- Enter bills for payment and sync with bill pay software
- Schedule prepaid expenses, debt and accrued expenses
- Reconcile balance sheet accounts and complete journal entries
- Perform general ledger variance analysis
- Process annual 1099 filings
Customer Impact
- Adopted scalable system to support on-going growth
- Leveraged new technology to improve efficiencies
- Improved visibility into business performance
- Increased confidence in bill payment process
- Secured bank funding with monthly loan draw request data packages
- Gained the ability to continue fast growth with 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.
