Practical Accounting Leads to Greater Insight in Medical Practice

Challenge

This growing company based out of California in the cosmetic business was challenged with balancing growth, accounting systems, and financial reporting. While they had the business running and the services outlined, the workflow wasn’t standardized and cash accounts weren’t being reconciled.

Solution

Working closely with the business owners who were also practitioners, we focused on developing a level of trust to begin redesigning processes and procedures, to drive greater control around their bookkeeping and accounting functions. Initially as we see with many small business owners, the focus was more on bookkeeping, paying bills, and cash instead of driving business growth.

Our goal was to take them out of the bookkeeping so they could concentrate on what was really important for the business and growth: Customers and Procedures.

After the blocking and tackling of daily bookkeeping and monthly accounting services, GrowthLab moved to improve the customer experience – virtually. Our systems and approach lends well to customers nationally regardless of where they reside. Our GrowthLab Concierge service is a perfect fit for small to medium-size businesses that are on the go or in growth mode. This service provides for multiple touch points and means of communication.

Cloud-based solutions and remote accounting services is different with our 100% US-based team. Our service is focused on making you, the customer, feel like we’re an extension of your team with our GL Concierge.

Results

Although our journey took different twists and turns, we ultimately formed a strong partnership with a focus on ultimately elevating their accounting processes, decreasing the time to close their books, while improving financial reporting. 

Today, our customer’s expenses and revenues are organized and accurately reflect the state of the business, accurately representing their performance. 

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.