Profile

Options Group Accounting Agency, an accounting agency primarily based in Florida, underwent a pivotal shift when new administration took over in Might 2024. 

Aiming to scale and solidify their position as a one-stop store for monetary companies, the brand new govt crew acknowledged that Cover—already in use on the agency—had untapped potential that may very well be leveraged to help their broader imaginative and prescient.

Boasting over 2,200 shoppers and a quickly increasing workforce of fifty staff (with plans to double that determine inside two years), Options Group Accounting Agency (SGAF) prides itself on delivering forward-thinking monetary options that assist shoppers strategically optimize their companies. 

By tapping into Cover’s full suite of options and customizing workflows, SGAF decreased inefficiencies by consolidating a number of instruments into one platform, improved consumer communication by built-in messaging and consumer requests, simplified their fee course of with Cover Funds, and ready for progress by organizing workflows that enabled quick onboarding and scalability.

Drawback

When new administration got here on board in 2024, Options Group Accounting Agency set its sights on bold progress. Whereas this daring course introduced thrilling alternatives, it additionally launched rising pains and uncovered inefficiencies. Because the crew labored to scale shortly, they encountered a number of challenges.

A number of Fee Programs

When CFO Ryan Medico joined SGAF, one of many first main points he encountered was the tangled mess of fee techniques in place. 

The agency was juggling 5 totally different service provider processors. The outcome was a fractured billing system that created pointless confusion for each the crew and their shoppers.

This patchwork setup made it almost unimaginable to calculate realization charges or perceive profitability on the consumer degree. And not using a centralized system, the finance crew was flying blind when it got here to money circulate insights.

Guide Processes 

Because the agency sought to scale, Ryan and the remainder of the chief crew acknowledged that their crew was pressured to spend time on admin duties, and it was leaving them with out sufficient time to do significant work. 

Supporting a workers of over 50 whereas providing a number of companies, together with bookkeeping and tax advisory, grew to become more and more troublesome with out a streamlined, built-in answer.

With a rising consumer base and plans to increase their worker headcount, SGAF wanted to place a scalable system in place to help future wants.

Lacking Out on Full Tech Stack Utilization 

Options Group Accounting Agency had been utilizing Cover since 2022, however was solely scratching the floor of what the platform might do. When the brand new govt crew got here on board, they shortly found that the agency was counting on an overextended tech stack and paying for a number of disconnected software program instruments, a lot of which overlapped in performance or just weren’t getting used to their full potential.

This fragmented setup created operational inefficiencies on a number of fronts. Workers had been pressured to toggle between varied techniques for duties like consumer communication, doc sharing, billing, and process monitoring, which added pointless complexity to their day-to-day workflows. 

Shoppers, too, had been left confused by the disjointed expertise, receiving invoices and engagement letters by totally different platforms and having to trace down info that would have simply been centralized.

Resolution

Whereas Options Group Accounting Agency had been utilizing Cover since 2022, with new administration and aggressive targets, they totally applied all Cover options beginning in 2024. By doing so, they had been capable of consolidate their processes and empower their crew. 

Right here’s how Cover grew to become the all-in-one answer that reworked SGAF:

Streamlined Funds

One of many crew’s high priorities was overhauling the agency’s disjointed fee infrastructure. With 5 totally different fee processors in play, billing had develop into unnecessarily complicated and error-prone. To repair this, they consolidated all invoicing and fee operations right into a single, unified system utilizing Cover.

Centralizing their fee processes in Cover gave SGAF a clearer image of its monetary well being and eradicated the confusion brought on by managing transactions throughout a number of platforms. 

Now, all deposits and accounts receivable are tracked in a single place, making it simpler for the finance crew to observe money circulate and scale back delays in collections.

Complete Workflow Automation

SGAF took full benefit of Cover’s customizable workflows. By creating templates tailor-made to their distinctive companies, the agency might seamlessly combine processes throughout departments.

“With Cover, we actually love our customized automations. We constructed out templates for all our totally different companies. When particular issues are completed in a mission, it closes out and pushes over to our invoicing crew to create an bill, which will get despatched over to our tax crew to start out prepping for his or her tax return now that the bookkeeping mission is completed.”

Tailor-made Help and Adaptability

With a rising crew and a various consumer base spanning industries like building, actual property, healthcare, and e-commerce, Options Group Accounting wanted greater than a one-size-fits-all platform. They required an answer that would flex round their distinctive service choices and inner processes, they usually discovered that adaptability in Cover.

From the beginning, SGAF engaged instantly with the Cover crew to customise their workflows. Moderately than counting on canned responses or FAQ hyperlinks, the Cover crew offered real-time help and steering, making the implementation course of extremely collaborative.

“One of many issues we love about Cover is that each time we’ve questions, we get pointed in the correct course. And it’s not simply an e-mail auto-response, with a hyperlink to the web site’s FAQ part. It’s been customized help that has helped us dial in our workflows.” – Ryan Medico, Options Group Accounting Agency

Outcomes

By totally adopting Cover, SGAF streamlined operations, consolidated fee techniques, and improved crew effectivity. 

The agency gained clearer monetary insights, saved time, and enhanced the consumer expertise, which has positioned them for scalable, long-term progress.

All-in-One Follow Administration for a One-Cease Store Agency

Since totally adopting Cover as their all-in-one observe administration answer, SGAF has been capable of remodel the way in which their agency operates, internally and externally. 

By consolidating 5 disparate service provider processors into simply Cover’s built-in funds system, they’ve streamlined invoicing and AR processes, lowering common days to gather from 40 to 22. 

This shift didn’t simply enhance the funds facet. It unlocked extra predictable money circulate and allowed the crew to concentrate on high-impact work.

Centralizing info in Cover has given them the info they should measure realization charges by consumer, which is essential for a agency that provides the whole lot from bookkeeping and fractional CFO work to Tax Advisory and exit planning. 

On the consumer facet, the transfer to a unified portal expertise has been a game-changer. Shoppers now have 24/7 entry to invoices, retainer balances, and engagement letters—all from a single mobile-friendly platform. Even hesitant, “old-school” shoppers tailored shortly as soon as they realized the benefit of use and visibility into their monetary knowledge.

Improved Effectivity

By centralizing invoicing, monitoring, and communication, the agency eradicated inefficiencies and acquired again time for workers to concentrate on different duties.

“With Cover, we had been capable of unencumber 25 hours every week for an worker who beforehand dealt with accounts receivable. By streamlining from 5 service provider processors all the way down to only one, his workload dropped to simply a few hours every week. Now, he’s main our mission bookkeeping crew—and up to now three weeks alone, he’s accomplished 19 long-standing initiatives. The efficiencies we’ve gained have been unbelievable, they usually’ve made us considerably extra worthwhile.” – Ryan Medico, Options Group Accounting Agency

This time financial savings has had a ripple impact throughout the group. 

Reclaiming these 25 hours didn’t simply impression one position. It allowed the agency to reallocate assets towards revenue-generating actions, improve mission turnaround time, and resolve backlog that had been slowing down operations.

Seamless Scalability

With a crew of fifty staff and plans to double in measurement over the following two years, SGAF wanted a platform that would develop with them. 

Cover offered the muse they wanted to scale with out sacrificing visibility, effectivity, or consumer expertise. By unifying core features like process administration, time monitoring, billing, and consumer communication right into a single system, the agency has established repeatable, automated processes which are essential for sustainable progress.

Customized workflows and automations constructed inside Cover now make sure that as quickly as a process is accomplished, it seamlessly triggers the following steps, comparable to sending the mission to the invoicing crew or kicking off tax prep. 

These automations have eradicated handbook handoffs and allowed groups to remain aligned, whilst new staff be a part of and repair quantity will increase. This sort of operational construction makes onboarding new workers and scaling companies not simply doable, however environment friendly.

As SGAF continues to develop its consumer base and increase service choices, Cover’s versatile platform ensures they gained’t outgrow their system. As an alternative, they’re constructing a tech-enabled agency outfitted to deal with extra shoppers, extra complexity, and extra alternative.