Tuulyp Consulting is a leader in providing expert fractional finance service to companies with a carefully tailored approach. We recognize that each company is unique, and at a specific stage of evolution in terms of achieving a highly efficient financial planning and analysis capability. We’ve designed our business to encourage clients to insource and outsource flexibly as their needs / preferences change along the maturation curve.
For example, a small, rapidly expanding juicery company located in California with $2 million in revenues may need a mix of services in a sequence. They may insource or outsource as appropriate as they mature along the sequence of steps appropriate for their situation.
We begin with a paid diagnostic. The diagnostic reveals that although the company is profitable and growing fast, the pressure on cash is high and causing challenges. As well, their record-keeping quality is deficient and there are material errors with existing and prior financial years. Siloed, low quality cost/volume/profit data and a weak tech stack are identified as particular challenges.
Based on the diagnostic, the company decides to part ways with its existing bookkeeper and outsources with Finance Foundations for 8 months of Year 1 to complete a bookkeeping cleanup, accounting setup on a new cloud system and necessary data migrations and tax return restatements. This whole process ends up taking longer than expected and doesn’t complete until month 1 of Year 2. After this point, the company insources back to a new internal bookkeeper to operate this well-configured system.
Armed with high quality books and clean tax returns, the focus might turn the Tech and FP&A functions. At month 9 of Year 1 until month 12 of year 2, the company outsources Tech and FP&A functions for 9 months, migrating from a hodgepodge of google sheets and ad hoc approaches to a well integrated solution involving five ‘best of breed’ apps that together tackle inventory management, cloud accounting, eCommerce back-end, cash flow forecasting, corporate performance management / investor reporting. With the company doubling in size and a higher budget, the company insources its FP&A function to a CPA/controller that they’ve hired to work for them full time.
The company’s major needs are met and insourcing is working well for their ongoing needs. After posing revenues of $4.3 million in year 2, the company establishes a limited engagement for a year-end review of accounting, tech and fp&a function, ensuring that their well-organized, profitable, fast-growing company continues to stay ahead of the curve.
Their next big focus will be shopping their business to prospective corporate M&A buyers and ensuring that they have all their ducks in a row to ensure the highest sale price possible.