Scaling Accounting for Growth and Complexity
THE CLIENT
An E-Commerce/Affiliate Marketing Company experiencing substantial growth in transactions and revenue streams. With an increasingly complex operational landscape, they sought advanced financial support to manage new revenue streams, sales tax obligations, and financial reporting demands.
THE CHALLENGE
The client faced rapid growth and operational complexity, with a notable increase in transaction volume and the addition of multiple revenue streams. Their financial operations needed scaling and modernization to keep up with these demands. When Sayva’s Managed Services team engaged, the key challenges included:
- Implementing a multi-state sales tax process to ensure compliance across 45 states.
- Developing financial reporting for new revenue streams such as Amazon, TikTok, and Shopify sales.
- Creating a separate tax basis reporting structure in parallel with the GAAP basis financials.
- Creating, measuring, and tracking custom Key Performance Indicators (KPIs) for monthly financial reporting purposes.
The client wanted a solution that would not only meet these requirements but also enhance efficiency and accuracy, allowing them to focus on growth without being bogged down by financial operational complexities.
THE SOLUTION
Sayva’s Managed Services team took a comprehensive approach to transform the client’s financial operations:
- Sales Tax Compliance: Registered the company for sales tax across 45 states, with ongoing monthly and quarterly filings.
- Revenue Stream Integration: Established processes to accurately track affiliate, Amazon, TikTok, and Shopify revenue, ensuring streamlined workflows.
- Inventory and Tax Basis Reporting: Developed scalable workflows for inventory processing and created a parallel financial reporting structure for tax basis reporting to assist owners in maximizing the ability to tax plan.
- KPI Development: Implemented KPIs in the financial reporting software and tailored them to support the client’s specific business metrics, providing actionable financial insights.
SOLUTION HIGHLIGHTS
- Sales tax setup and ongoing compliance across 45 states.
- Customized workflows for multiple revenue channels.
- KPI implementation in the financial reporting software for better financial insights.
- Efficient inventory processing and cash basis reporting.
THE RESULTS
With Sayva’s support, the client achieved impactful outcomes:
- Cost Savings: Leveraged a Sales Tax Partner for filing at a flat rate, reducing fees that would have accumulated with platform-based charges.
- Operational Efficiency: Consistently met monthly financial reporting deadlines, supporting timely decision-making.
- Scalable Processes: Enabled sustainable scaling with over 2,000 transactions processed monthly by the fractional team, establishing a foundation for continued growth.
CLIENT TESTIMONIAL
“Partnering with Sayva has been transformative for our financial operations. Their expertise in managing complex financial processes has allowed us to streamline and scale efficiently, ensuring that we meet our reporting deadlines and maintain compliance across multiple revenue channels. Sayva’s team is responsive, proactive, and genuinely invested in our success – allowing us to focus on growth with confidence.” – CEO & Founder
