A billion dollar facilities services and operations firm.
From 2019 through 2020, this North American facilities services giant reached a period of major growth and transformation. The company was managing several overlapping mergers and acquisitions, an ownership transition, and the adoption and integration of a new ERP system.
While those three factors were enough to overtax finance and accounting staff, the pandemic also added substantial workforce strain. Teams were short staffed as they barreled towards equity close and year-end audit.
- Built an expert professional accounting team to support sophisticated M&A integrations of acquired entities as the company grew from $500M to over $1B
- Successfully readied company for two complex, large-scale audits with veteran CFO and Controller-level experts
- Project managed a successful NetSuite ERP implementation
- Provided more than 20 expert consultants to manage and support finance, accounting, audit, and technology initiatives.
In serious needs of expert support on robust M&A activities and special projects, including a NetSuite ERP implementation, the company turned to Sayva. The client’s top business priority was engaging veteran accounting experts who could immediately support their needs with minimum oversight.
THE ACCOUNT TEAM
Sayva began by putting in place a highly experienced Accounting Manager Consultant who then built a team of five Senior Accountants focused on managing strategic M&A support work and supporting overflow accounting needs. Under her leadership, the team rapidly addressed and achieved each of the follow goals:
- Completed numerous complex reconciliations
- Developed and implemented month end close procedures and monthly account reconciliation processes
- Upgraded existing processes and procedures to ensure best practices
- Tackled a high volume of accounting work to support internal staff
- Caught up on backlogged transactions
- Reconciled accounting to support the yearly audit
With two large-scale audits to prepare for, the company again looked to Sayva to provide expert resources and strategic guidance. Sayva brought in a Director-level Accounting Consultant who had substantial Controller and CFO experience. This senior executive-level expert helped lead the company’s Revenue Group while accomplishing the following:
Prepare the business for an equity close and year-end close to manage the ownership restructuring
Achieved audit readiness and delivered accurate financial statements to the outside audit firm for two separate audit periods
Assisted with two acquisition during the audits and provided reconciled financials for both transactions
‘‘Sayva successfully addressed the major challenges facing our company. First, the state of the accounting department was turned around 180° to become a high functioning part of the organization. Sayva provided a Controller/CFO level consultant who achieved audit readiness and delivered accurate financial statements for two large-scale audits covering different audit periods. On the technology side, Sayva brought in an experienced ERP implementation consultant/ Project Manager who successfully executed a NetSuite implementation, saving substantial work hours and expense for the company. To this day, the company trusts and relies on Sayva for project management consultants and direct-hire recruiting services to deliver high quality results and help us reach our growth goals.”
NETSUITE ERP IMPLEMENTATION
Because the client did not have an internal expert to manage its ERP upgrade, Sayva also provided an ERP Implementation Consultant and Project Manager who offered deep expertise in the NetSuite platform. Sayva’s consultant oversaw the entire implementation process, project managing the transition and integration to ensure business continuity and widespread adoption across the company. Under Sayva’s guidance, the implementation was accomplished on time and within budget and has delivered a system capable of scaling with the company’s continued rapid growth.
ONGOING CONSULTING PARTNER
In addition to the original accounting, audit, and ERP support, Sayva has provided ongoing support and specialized consultants, such as
an AR/Billing Manager Consultant, an Interim AR Manager, an AP/Payroll Consultant, and several additional roles. When surge in work
or unexpected demands hits its finance, accounting, and/or tech teams, Sayva is the partner of choice to deliver the added expert resources required.
Sayva’s speed in placing veteran consultants and fractional, senior-level executives allowed the business to successfully navigate one of its largest and most complicated periods of growth.
By putting Sayva’s expert teams and leaders in place, the company saved hundreds of work hours per month by implementing efficient business practices and disciplined processes. The company also saw the following benefits:
Curbed turnover due to Sayva’s support in building, training, and mentoring the accounting team
Saved substantial expense through implementing the Sayva team’s auditing and accounting best practices and eliminating the need to rely on an outside auditing firm to reconcile finances
Saved significant work hours and additional expense by leveraging Sayva’s technical expertise to achieve a successful ERP implementation