How Atidiv Delivered 80% Time Savings, 50% Cost Reduction, and 99% Accuracy for an NYC Start-Up
Summary
The client, an NYC-based start-up with over $10M in annual revenue, faced several challenges with their finance and accounting operations.
Atidiv partnered with a fast-growing NYC-based start-up generating over $10M in annual revenue to streamline their finance and accounting processes. By addressing issues in bookkeeping, inventory accounting, and cash-flow management, we helped the company achieve significant time and cost savings while improving accuracy.
Challenges
The start-up experienced persistent problems that hindered their financial operations:
Delayed Monthly Closures
Taking over 30 days to close books, impacting financial reporting and tax filings.
Inaccurate Bookkeeping
Mismanagement of transactions, leading to unbalanced records and inaccurate reports.
No Inventory Tracking
The absence of a proper inventory accounting system resulted in inventory losses.
Unreliable Cash-Flow Projections
Cash-flow forecasting was neither regular nor reliable.
Solution
Atidiv’s F&A team stepped in with a focused, multi-step approach:
Team Augmentation
We assigned seasoned accountants, each with over 10 years of experience, to manage the client’s accounting processes.
Books Clean-Up
Addressed backlogged and unrecorded transactions, ensuring all financial data was accurate and up-to-date.
Process Set-Up & Automation
- Established standardized accounting processes with daily and weekly review cadences.
- Automated inventory accounting by setting up a COGS calculation workbook, streamlining stock management.
- Developed and automated cash-flow calculations, allowing for accurate weekly projections.
Outcome
Atidiv’s interventions resulted in remarkable improvements for the start-up’s financial operations:
<10 Days
99%+
Weekly
80%
50%
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