"With FinancialForce Accounting, we can now do the entire month in less than a day and a half."

Steve Simmerman, Director of Operations, The Compliance Team

The Compliance Team, Inc. (TCT), is a nationally recognized healthcare evaluation firm, based in Pennsylvania. The company recently needed to ramp up all of its staff and services to support a series of new federal regulations. This triggered the need for the privately held business to adopt more financial processes that it could support with reliable software.

Products in Use: FinancialForce AccountingFinancialForce Billing

Company size: Small

Previous system: QuickBooks

Location: Spring House, Pennsylvania, US

Industry: Professional Services

AppExchange Rating: AppExchange rating 5 stars
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Business Issues

  • Tougher federal regulations required more rigorous and well documented financial processes
  • Poor visibility into outstanding invoices
  • Errors too frequent - caused by trying to produce 1000 statements per month manually
  • Limited insight into how company is performing
  • Unable to make financial projections due to inefficient processes
  • Inconsistent billing practices across field representatives created major process issues

Benefits & Results

  • Realized 125% growth while adding only 20% headcount
  • Able to estimate at any point what monthly profit and loss statement will look like
  • Can easily project how much tax will have to pay in a year
  • Streamlined the invoicing process from three weeks to less than 1.5 days
  • Equipped with affordable on-demand delivery model is scalable to the company’s rapid growth
  • Cut down large administrative costs by eliminating inconsistencies and errors in billing
  • Real time financial information means better analysis of costs by sales vertical