Overview
Say Yes To Profits provides ongoing Virtual CFO services that have enabled the organization to streamline its processes, gain financial clarity and make strategic business decisions while increasing profit margins from a negative 0.05 to 30%
Situation
Georgia Nurses Association had recently released its controller of 13 years before contacting Say Yes To Profits. The CEO wasn’t receiving the financial reports or a solid financial strategy to make critical decisions to move the organization forward. The internal financial system was unorganized, unreliable, and outdated. The organization was behind on accounts payable, government filings, payroll processing and was experiencing an increasing decline in profit margin.
Approach
- Conducted a comprehensive review of the organization financial reports, previous tax returns, and accounts receivables
- Analyzed the organization infrastructure, receivable days, internal communication system, and payroll system
- Research the historical decline in profit margins and cash flow
- Streamlined monthly closing, accounts payable, and online accounts receivables processing.
- Switch the organization payroll system to a more robust, online system
Results
- Recreated the previous year-to-date financials, caught the company up on late payroll filings and accounts receivables.
- Immediately transition the company from using paper checks and an outdated version of QuickBooks Desktop to an online paperless infrastructure using QuickBooks Online, Intuit Online Payroll, Gmail, and Bill.com.
- Created and maintained a yearly and monthly budget which allowed the organization to significantly reduce money leaks while increasing monthly profit margins from -0.05% to 30%
- Implemented a seven-day monthly closing process, provided monthly detailed financial reports and industry analysis, thereby enabling the CEO to gain financial clarity, control, and confidence
- Completely eliminated late payroll processing, caught up late filings, implemented employee/employer portals and transaction to an efficient online payroll system
Say Yes To Profits Services
- Virtual CFO
- Process Improvement
- Full-Service Outsourced Accounting
CEO Testimony
“As the Chief Executive Officer of the Georgia Nurses Association, I had the pleasure to use Ms. Conner’s services. What could have been many sleepless nights was anything but… Say Yes To Profits came in and provided clarity to a very foggy outlook and also provided recommendations on cost-saving measures that would prove to be extremely beneficial to our Association. An onset, Ms. Conner came in and conducted an analysis on our spending habits including payroll and capital expenditures. She identified duplicative efforts and helped us correct those issues. Additionally, she helped usher our Association into the 21st century by completing as much work as possible using electronic documents. Ms. Conner unearthed many pieces of information that I was unaware of and she convinced me that things would work out fine in spite of the unknowns.
Ms. Conner was patient in reviewing our documents and candid when it counted. She didn’t paint a rosy picture of what we wanted to hear, she told us what we needed to hear and provided professional assistance in helping us get to where we needed to arrive. While we are still growing and learning about our potential challenges, we have the confidence in knowing that with the support of Ms. Conner and Say Yes To Profits that we will be in a much better place.”
Thanks so much!
Marcus Downs
Chief Executive Officer
