Client Success Story: Security Service Provider

Client Success Story: Security Service Provider

As a small Managed Security Services Provider, 1440 Security could not afford a full-time CFO or controller. Their CEO was performing many of those functions, while an office manager/bookkeeper was handling Accounts Receivable and Payable with QuickBooks. Once they learned about Next Level Now’s outsourced CFO services, they felt it was necessary to integrate us into their functioning business practices to help take the weight off their shoulders. Discover their process and how the transition was a success.

Addressing Financial Pain Points

First, our team at Next Level Now had to figure out how to eliminate the 8-10 hours 1440’s CEO was spending per month on deferred revenue adjustments. These problems stemmed from a manual process they had implemented to overcome the fact that QuickBooks doesn’t handle deferred revenue. So, 1440 utilized our Fractional CFO services to address this issue, along with quarterly financial analysis of the business.

Our team quickly solved the first issue by moving them from Quickbooks to Sage Intacct. This cloud financial management system not only gave 1440 the ability to handle deferred revenue, but it also provided much more insight into their financials. By switching, they offset the expense by fully outsourcing their Accounts Receivable and Payable to the Next Level Now team. They were able to keep their cost flat and significantly improve how they managed the company financials, invoicing, and bill payment.

Integrating Our SOAR+ Services

1440 was also looking for reliable monthly and quarterly financials, with the ability to effectively handle deferred revenue. Next Level Now provided them with that exact solution. “I think any growing small business can benefit from what Next Level Now provides,” said 1440’s CEO. “I didn’t fully jump in at first, but started with the quarterly financial reporting and the fractional CFO services. Once it was clear that Next Level Now was more than capable to meet what we needed, I moved ahead with their SOAR+ services.”

So what are the benefits of working with us? “I didn’t have to deal with the complexity of being CFO, Controller, and manager for our bookkeeper,” 1440’s CEO explained. “It gave me a lot more time to focus on the business without worrying about the financials being accurate. After looking at other services that leveraged QuickBooks and various software add-ons, Next Level Now was clearly more suitable to our business and had gained my trust. This is what made Next Level Now stand out over other services I researched, and introducing their services was simple. We had a few onboarding and scoping discussions with Next Level Now; COA’s were set up and we migrated balances at the end of a quarter and started with detail from the start of the next quarter. The process was painless!”

Results of Integrating Our SOAR+ Services

“I can confidently say that Next Level Now eliminated the issues we were having with deferred revenue. Our financial reporting was significantly improved, and I was able to use my newly-realized free time to drive the business. When it came time to sell the company, I was extremely impressed with Next Level Now’s level of expertise and support. Plus, they even referred the excellent legal team we used for the sale. Each of them, in their own way, made the transaction a success. I am forever grateful for their contributions.”

By the end, 1440 worked with us for four years. Plus, they would’ve continued if they weren’t acquired. They ended our partnership and overall business relationship on an incredibly successful high note with our efforts in the sale of the company.

Next Level Now is the difference maker when there is an issue to work through. This is when our incredible transparency, high degree of integrity, and collaboration are essential in addressing any issues. Please contact us to learn about integrating Next Level Now with your business.

Outsourced CFO Services: A Case Study

Outsourced CFO Services: A Case Study

A client’s controller had resigned from their already understaffed accounting department. They were in urgent need of help, and reached out to us for assistance. Learn how our outsourced CFO services helped them recover and thrive.

Key Points:

Problem: The client was in immediate need of a finance and accounting services that could adapt to meet their growing and rigorous business demands.

Solution: We were able to provide them with a highly qualified CFO that was perfectly suited for their industry who offered a diverse range of skills and expertise that successfully:

  • Established strategic planning and enhanced scalability by building a reliable accounting team
  • Developed documentation and streamlined operations and procedures
  • Increased efficiency through meaningful KPIs
  • Empowered leaders with a wealth of resources and solutions

The company’s CEO found that: “Everything about the accounting department has been increasingly efficient since we started our partnership with Next Level Now. I attribute that to finally having a true leader in the department that was able to provide solutions and build an effective team.”

Outsourced CFO Services that Match Your Needs

Our client is in the Outdoor Sporting Goods industry and they design and manufacture products for camping, mountaineering, and campfire enjoyment. They needed an outsourced CFO that could immediately provide the necessary skill sets to streamline operations and develop their internal team. To accomplish this, we brought in our highly-skilled CFO with over 20 years of experience as a Finance and Operational Executive. To get a true sense of the business’ needs and procedures, he worked closely with them to develop applicable solutions

Through his proficiency in financial modeling and forecasting, he provided the client with accurate data so they could make informed decisions. He was also able to streamline accounts payable and receivable, payroll, budgeting, and more. The company’s CEO described our services as, “the perfect tool for transitioning, ramping up, and exploring what the true needs of the business are. And Next Level Now was able to do so with incredible speed, flexibility, and acumen.”

Building a Lasting Partnership

Most of our clients are looking for a long-term partnership, and this client was no exception. As a result, we continue to provide them with steady guidance and a wealth of resources to fuel their success. Their CEO stated, “Next Level Now is a perfect partner for us, and we have developed a trust with them to continue to utilize their services for years to come and refer them to others.” In fact, after the success they gained working with our CFO, we were also able to provide them with bookkeeping assistance. We strive to help our clients become self-sufficient while also supporting them when needed.

CFO Services to Take Your Business to the Next Level

Next Level Now provides outsourced finance, bookkeeping, and accounting services. Our services allow you to focus on the areas of your business that you are good at, while we handle the financials. Contact us to learn more about our outsourced CFOs and accountants so, we can help your business succeed today!