The client approached CGS to develop a solution to properly track and report on their business as they experience growth in revenues, expenses, and employees. They needed a flexible, scalable and reliable financial accounting system to achieve this.
After a thorough, in-depth analysis of the client’s business operations, production process, workflows, reporting and compliance requirements, the Subject matter experts at CGS developed roadmaps and detailed operation enhancement plans. While working with our client and prior to FDA approval, the company was acquired by another enterprise of the same size. The new company recognized our reputation and potential and remained committed to the project.
The new company evaluated our original client’s financial processes and approved CGS’s product offering. After a thorough analysis, our strategic advisors decided that cloud-based NetSuite ERP software (Enterprise Resource Planning tool) was the best-suited tool for the company’s various accounting and reporting requirements. We analyzed the client’s workflow documented the requirements for the new ERP system which provides efficient, effective, consistent and timely processing of financial transactions and accounting data from one centralized place.
Through our careful planning and road mapping, we developed an innovative solution implementing complex finance and accounting and framework that generates complicated financial statements as required by the statue which are compliant with GAAP (generally accepted accounting principles). The techniques we implemented are innovative towards account for projected growth and subsequent increase in revenues, in addition to the evolving reporting needs of the now publicly traded client-company.
As a result of CGS’s premier financial accounting outsourcing (FAO) practice has enabled our client to finance new product R&D in an extremely competitive equity market through accurate, reliable, and timely reporting. Also, by adopting an outsourcing model with CGS’s FAO advisors, our client’s employees and executives can better focus on growing the core business and remaining competitive.