Industry: Professional Services

Company

WrightIMC is a dynamic digital marketing agency in Texas specializing in SEO, PPC, content marketing, web development, and reputation management. They combine innovative techniques with proven strategies to deliver measurable results, helping clients maximize their online presence and achieve their business goals. Known for their data-driven approach and personalized service, WrightIMC is dedicated to creating impactful digital marketing solutions.

Problem

WrightIMC struggled with financial inefficiencies that hampered its operations. Their existing financial processes were fragmented and lacked standardized procedures, leading to operational inefficiencies. These issues caused inconsistencies and disruptions in financial reporting and management. These challenges created significant obstacles in maintaining accurate financial records and efficient cash flow management, necessitating a comprehensive solution to streamline their financial operations and support their business objectives. In search of a solution, WrightIMC discovered finairo, known for its expertise in optimizing financial operations for Professional Services firms.

Solution

finairo developed a comprehensive, multi-faceted solution tailored to address WrightIMC's financial challenges:

1. Standard Operating Procedures (SOPs): finairo established clear SOPs across all financial functions, ensuring consistency and operational efficiency.
2. Enhanced AR/AP Management: They optimized accounts receivable and payable processes, improving transparency, efficiency, and cash flow management.
3. Comprehensive Financial Reporting: finairo implemented a robust financial reporting suite, providing WrightIMC with real-time data and actionable insights, significantly enhancing financial visibility and decision-making.
4. Improved Cash Conversion Cycle: They streamlined the cash conversion cycle, enabling better cash flow management and financial stability.
5. Outsourced Financial Operations: WrightIMC transitioned to a fully outsourced financial operations model, leveraging Finairo’s expert team for bookkeeping, financial planning and analysis (FP&A), and comprehensive financial reporting. This move reduced operational costs and mitigated risks related to turnover and inefficiencies.

finairo transformed WrightIMC’s financial operations through these targeted interventions, enabling them to focus on their core business activities with improved confidence in their financial management.