CASE STUDY – Assisting Hands

 

 

Overview

  • Assisting Hands provides professional in-home health care services to elderly individuals to allow them to remain safely and comfortably in their homes longer
  • The Greater Cincinnati location of Assisting Hands was purchased in 2015 by the current owner, Greg Kling

The Challenge

  • As the business expanded and grew, it became a regular occurrence for Assisting Hands’ bookkeeping firm to fall behind
  • Often, leadership at Assisting Hands would receive financials for the company that were months late, and, even then, their accuracy was suspect
  • It became clear to management that the primary focus of their then-bookkeeping and accounting firm was simply not on bookkeeping, but rather on the more lucrative tax work

The Situation

  • Assisting Hands management engaged TP4 Advisors to
  • TP4 Advisors implemented weekly reconciliations of the company’s financials
  • Balanced accounts receivable aging
  • Made sure that invoices were reconciled
  • Made sure that the company stayed on budget

The Result

  • Assisting Hands leadership gained great day-to-day control of its financials almost immediately
  • TP4 has recently helped Assisting Hands open new locations in Dayton and Columbus
  • In addition to supplementing of the CFO function, TP4 Partner support is helping Assisting Hands plan for the future as they continue to grow and expand

Interested in receiving accurate and timely financials to put your company on a financial foundation for sustainable growht? Contact us today for a confidential conversation:

Todd Pfister

Todd.Pfister@tp4advisors.com

513.543.3325