In today’s environment, executives are expected to do more with less. With the demand to grow profits without increasing overhead, focusing on what counts has become more difficult as leaders are forced to make complex decisions with fewer resources.
Citrin Cooperman’s Business Processing Outsourcing (BPO) practice can elevate your finance function to provide timely and meaningful information helping to simplify your decision making process. It’s like building high-performing, sophisticated finance and IT departments in-house, for less than the cost of a full-time team.
The BPO team offers industry-specific finance and IT professionals who have significant experience providing outsourced solutions to businesses in need. Our team works in tandem with other services provided by Citrin Cooperman, including tax advisory, wealth management, cybersecurity, transaction advisory, and more. The interplay of BPO, along with advisory services, allows us to add value to your business in a variety of ways.
A not-for-profit healthcare organization preparing for an upcoming acquisition was in need of human resource, finance and operational support. Citrin Cooperman’s Office of the CFO team was able to provide revised finance and business department structure, procedures, and roles; act as the onsite Interim Finance Director; transition and automate payroll and accounts payable systems; create financial reports for use during acquisition; assist in onboarding of a new controller; evaluate and assess current personnel for post-acquisition roles; and assist in search and interview process for new employees. In the end, we were able to onboard and train a new senior management team and create structures and controls to help ensure the facility was ready for purchase.
A large privately held real estate development company was in need of centralized financial reporting to consolidate cash flow statements. The Citrin Cooperman Office of the CFO team assessed their accounting systems and built a blue print to identify new financial reporting protocols. The team also designed a multipurpose database that funneled data from three different accounting systems to generate reports and customized a multi-functional financial application that consolidated 50+ accounting ledgers into relevant cash flow reports/statements. This allowed the client to streamline a highly manual and labor intensive process for maximum efficiency and reduced time and resources dedicated to the process by 75%.