Outsourced Finance & Accounting
Establishing
an efficient
financial system
A health and social
services agency
Company background
Client Challenges
The organization’s existing financial system lacked accurate reporting and efficiency. The partnership between finance and operations was disjointed. These factors created high finance turnover and an inability to produce monthly financial results.
BDO’s Solution
Implemente forward-looking cashflow projections with insights into vendor spend landscape and opportunities for savings.
3 of 3
Clean up clinic billing accounting process and implement proper accounts receivable reconciliations.
2 of 3
Create a mixed finance team with in-house and BDO associates.
1 of 3
BDO implemented a plan to appropriately staff the finance department and implement policies and procedures to optimize operations.
Company Benefits
RETURN TO BEGINNING
The client received accurate, timely financial results and actionable data, resulting in a roadmap to drive collections.
Clean audit was delivered on-time with dramatically improved control environment.
New insights into clinic economics and productivity showed the true cost of operations providing for more informed decision-making.
