Success is a moving target. We help our clients scale their financial plans, even as new challenges arise. We’re proud of the track record we have and the relationships we’ve built.
Read below about a few of the clients we have the privilege of serving.
LEADING VENTURE CAPITAL FIRM
A venture capital firm approached us to act as a liaison between management and the company’s investment bankers. The challenge with this sale was in the fact that internal reporting did not capture the financial details that investors were seeking, in part because the small accounting team assigned to the job had no experience with capital market transactions and also had numerous operational responsibilities beyond that sale. The team was also using an outdated version of QuickBooks, which simply could not handle the complexity and scope of the modern company.
They came to Rialto for our sell-side expertise and capital market experience. We set up clear communication channels, carried out financial due diligence, created a clear division of labor and responsibilities on the existing accounting team, and positioned ourselves to communicate with investors ahead of potential requests. We focused on providing them with updated information, responding quickly to requests, and establishing high-quality schedules. In the end, we were able to establish a high level of trust with the buyer and facilitate the sale.
TRANSIT SOFTWARE COMPANY
Routematch, a small, privately held company, came to us as they were working to transition their accounting department processes to match their new owner, a massive, publicly traded company. They only had four accounting department employees, and these few individuals had many different tasks and responsibilities. The smaller company knew the current arrangement wasn’t viable with a public transit software company, due to its segregation of duties and specific controls. We started by carefully crafting a migration plan for technology, people, and processes, and we set up well-defined responsibilities for each existing team member.
We were able to establish a weekly cadence for all involved and keep communication lines open. We gathered or created documentation for every single process, including walkthroughs, flowcharts, and other written instructions. Finally, relying heavily on our own vast experience with public companies of this size and scale, we clearly mapped out a way to integrate the private company processes used at Routematch with the specific requirements laid out by the owners. By redefining how their accounting worked, we were able to ensure that it meshed with the rigorous processes used by the owners, bringing both sides into sync despite their decidedly different backgrounds and former structures.
CHERRY STREET ENERGY, LLC
Cherry Street Energy came to us with a request to build an accounting department structure that could keep up with their extraordinary growth rate. They needed to keep accurate and timely reports, they wanted to implement risk management best practices; and they needed to do all of it without significantly increasing their overhead. They knew they were facing issues with a lack of historical documentation, a lack of timely reports, an accounting system based largely on cash payments, and the general use of decentralized data.
To fix this, we quickly centralized their financial database, brought new systems and processes online, defined clear responsibilities, and helped collect and organize supplemental records. We conducted an extensive audit of the prior year balances and then made the necessary adjustments to their records. With more clearer and comprehensive information now on hand, we implemented new technology to make them more efficient and to increase accuracy; these tech upgrades affected payroll processes, project management, payment processes, accounting ERP, and much more. Finally, we assisted in the restructuring of the accounting department to bring on staff members with the necessary skill sets, guaranteeing future efficiency and accuracy with a focus on scalability and company growth.
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