Software co. needs to optimize controllership to control integration chaos

Picture this...

You are a $30M SaaS Platform Business Services company that’s carved out of a larger corporate entity. In the first year, you grow 100% through three acquisitions, all on cash-based accounting. You have limited finance and accounting resources and processes, and none of the entities that you have now acquired have been previously audited. You need help integrating and accounting.

You turn to Accordion.

We partner with your team to onboard the acquired entities, converting them from cash to accrual-based accounting and then supporting the newly-integrated business through the first and second-year audits. We:

• Correct and restate the opening balances for the acquired carve-out entity in their newly implemented Sage Intacct ERP.
• Execute the finance integration of the three add-on acquisitions, including the transition from cash to accrual-based accounting.
• Prepare purchase accounting in compliance with ASC 805 Business Combinations and other technical accounting for both your original business and the add-on acquisitions.
• Prepare consolidated financial statements and support you through two annual audits with no proposed audit adjustments or material weaknesses.
• Establish a consolidation model in Excel and transition to Sage for ongoing consolidated reporting.

Your value is enhanced.

As a fully integrated business, you now successfully meet the key objectives for the financial onboarding by the PE sponsor. The balances of the carved-out entity have been restated, the acquired businesses have been transitioned to accrual-based accounting, and you’re able to successfully complete the first and second-year audits (which facilitates the securing of a $60 million credit facility). What’s more, the developed and implemented consolidation model in Sage enables ongoing consolidated stakeholder reporting going forward.