Floral Manufacturer Maximizes Potential Through Outsourced Accounting

Background

Syndicate Sales is an Indiana-based manufacturer and distributor of floral products. The company has been in business for more than seven decades and has established itself as an industry leader nationally. They are a long-time client of Katz, Sapper & Miller and reached out for outsourced finance and accounting support.

The Challenge

The leadership team at Syndicate Sales wanted to improve their processes in order to help the company reach their sales and margin goals. To do this, they had several challenges to overcome. These included:

• The departure of their full-time CFO, creating a need for a trusted advisor who could immediately help support and guide the financial health of the business at an executive level.
• Evaluating and refining financial and accounting processes, enabling leadership to make informed, data-driven decisions.
• Finding ways to create better process cohesion between leadership, accounting, and sales, enabling everyone to be on the same page and working toward a common goal.
• Maximizing the company’s existing data in order to fully utilize their strong and accomplished accounting team.

The Solution

KSM provided Syndicate Sales with finance, accounting, and operational expertise to accomplish the following over the course of the project:

• An initial assessment that included detailed conversations with the leadership, accounting, and sales teams at Syndicate Sales.
• Seamless integration with the management team while they searched for a new, full-time CFO. KSM became the company’s financial voice during this period so the president could spend more time focusing on running the business.
• Becoming the accounting team’s go-to resource for insight and improving efficiencies.
• Putting in place improved reporting strategies that provide real-time data and a clear picture of each transaction.
• The creation of a proprietary pricing calculator and a daily margin report to help the sales team make fast, informed decisions.
• Helping the leadership team set strategic, realistic goals backed by sales metrics.
• Assisting the new, full-time CFO with onboarding and transitioning into the position.

The Result

KSM gave Syndicate Sales unbiased insight and guidance while setting a strong foundation for improving processes, growth, and profitability. By using this service on an as-needed basis, the company had access to executive-level expertise to support their organization while taking the needed time to find the right person to fill the full-time CFO position. They also have a clear path to their goals with buy-in from all departments and the confidence that day-to-day sales decisions are firmly backed by data.

Download Full Success Story