Responsibilities became clearer
Financial work was placed into a more defined operating cadence rather than being handled through disconnected requests and handoffs.
One accountable finance function for a multi-state healthcare professional-services firm
See how clearer responsibilities and financial follow-through can change the way an organization runs its finance function.
A confidential case study. The engagement described is real; the client’s identity and financial details have been withheld to protect confidentiality.
The demo is a fictional sample of our platform today and is separate from the engagement described on this page.
The company behind the engagement.
- Industry
- Healthcare-focused professional services
- Operating model
- Multiple service lines with project, retainer, and recurring client engagements
- Workforce
- Distributed professionals, employees, contractors, and specialist partners
- Financial complexity
- Customer billing, vendor and contractor costs, expenses, payroll-related activity, multiple revenue streams, and leadership reporting
- Primary need
- A more structured and accountable finance function
Financial responsibility had spread out faster than the structure around it.
As the company expanded across services and relationships, its financial responsibilities became increasingly distributed across people, systems, and outside providers.
The books were only one part of the challenge.
Leadership also needed clearer ownership of
Billing
Accounts receivable
Vendor and contractor activity
Financial close
Management reporting
Cash visibility
Engagement and service-line economics
Financial questions requiring follow-through
The business had reached the point where bookkeeping alone could not provide the level of operational control leadership required.
One connected operating model across the recurring financial work.
EveryPenny helped establish a more connected financial operating model across the recurring accounting and management responsibilities within the engagement.
The work centered on
Bookkeeping and account reconciliations
Customer billing
Accounts-receivable visibility
Vendor and contractor workflows
Month-end financial processes
Management reporting
Cash visibility
Project or service-line financial information
Financial follow-through for leadership
Structure, ownership, and follow-through in place of handoffs.
Leadership had one point of accountability
Questions and exceptions no longer had to be manually routed between multiple financial providers.
Reporting became more structured
The recurring financial process was organized around information leadership could review and use.
Financial issues could be surfaced earlier
Billing, collections, missing information, and other financial exceptions had a clearer path for identification and follow-through.
The model could support multiple service lines
Financial responsibilities could be organized around the way the company actually operated rather than treated as a single undifferentiated set of transactions.
Outcome
The engagement established a recurring financial operating cadence with clearer ownership across bookkeeping, reconciliations, billing, receivables, month-end processes, management reporting, and leadership follow-through. Financial exceptions had a defined path for resolution, and leadership had one accountable point of contact for the finance function.
The client’s identity and financial details have been withheld to protect confidentiality.
We work with professional-services firms and other growing businesses and nonprofits. Explore the industries we serve or Finance for Nonprofits.
Your organization may not need another provider.
It may need one team that owns the complete function and one system that keeps the work connected.
30 minutes. Receive a one-page Finance Function Map within one business day. No obligation.
The demo uses fictional organizations and data. The engagement above is real and anonymized.