KITE HILL PR ("KHPR") is a boutique communications consultancy, specializing in the technology, advertising, media and marketing sectors.
KHPR reached out to us for accounting services and financial operations advise. They were looking to establishing a solid accounting structure that would enable them to have the tools to continue scaling their business.
When KHPR first came to us their accounting was very limited, basic income and expense reconciliation. No payroll or accounts receivable systems was in place. KHPR was growing (and continues to do so) at a fast pace and accurate, efficient and on-time financial reporting was essential to facilitate decision making.
KHPR needed a solid accounting structure with the right tools and systems in place. We first started by aligning their accounting operations, including bookkeeping and payroll. To improve cash flow management and their bottom line, we implemented an invoicing process to track revenue and accounts receivables along with a bi-monthly accounts payable process. We also rolled out a new payroll system that alleviated compliance-related issues; and we created a budget and forecast model that is monitored during our monthly reporting and analysis calls.
Within 6 months of engagement, revenue tracking became accurate, allowing KHPR to identify key revenue-generating components and client account behavior for budgeting and new business forecasting. From our initial engagement, the company has grown significantly and has expanded operations abroad with HQ in NY and a branch in London; and the team has grown over 70%.
Financial planning, cash flow management, and a streamlined payroll, compliance and benefits process have played a key role in minimizing what would otherwise be financial pain points for the management team.
With our help, KHPR has been freed up to continue focusing on what’s most important: their business. We continue to provide KHPR with monthly services and financial analytics that play a critical role in their strategic decision making process.
- Monthly reconciliation of financial information and expenses
- Monthly reconciliation of payroll processing
- Monthly reconciliation of accounts receivables
- Monthly preparation and delivery of financial statements
- Weekly bill pay
- Bi-monthly invoicing
- Monthly time-tracking reporting
- Payroll management and employee onboarding
- Benefits management and renewals
- Unlimited email support to discuss emerging or ongoing business needs
- Budget Creation and mid-year revision for 2017
- Monthly budget to actual report
- Proactive monitoring of compliance and tax obligations