The Client Challenge:
Pacific Crest Group (PCG) was engaged by a professional services company to help them gain control of their accounting system, including payroll. Over the course of a seven-year client engagement, PCG’s role has evolved from that of bookkeeper to a more strategic consultative role of outsourced CFO and controller, as well as a HR management consultant. As the company’s payroll grew, it became increasingly clear that there was a growing disconnect between invoices and payroll, and there needed to be a better way to gauge employee performance. It also became clear that the client company needed to hire more experienced accounting staff to keep the finances on track.
The PCG Solution:
As the professional services company’s staff continued to expand, it became clear that they needed a better way to track the progress of their clients’ work, and the performance of the support staff. PCG implemented a new time tracking system with Key Performance Indicators (KPI) to track billable time against deliverables. This not only made it easier to keep track of billable time, but it also made it easier to make sure clients were billed correctly. The system revealed which employees were top performers and those that were bottom performers. By creating an “average billable hour” the company could not only standardize its billing, but identify employees who were having trouble performing to required specifications. PCG essentially created a metric to gauge employee performance.
As PCG continued to refine the accounting system, it became clear that the current bookkeeper was not doing an adequate job. Since PCG had created the billing system, the client company was able to use PCG as an employment agency. We conducted a search to find the ideal candidate to take over accounting, and we were able to train the new hire offsite so as not to disrupt operations. We also created an Accounting Procedures Manual to smooth the transition.
Where PCG Created Client Value:
• Implemented a time tracking system to track Key Performance Indicators (KPI)
• Established a standard billable hour to simplify billing and identify top and bottom performers
• Provided executive search services to find a new controller to managing the accounting system
• Created a procedure manual for to standardize accounting procedures
• Provide ongoing HR advisory support to address staffing issues and strategies