In order to grow the company, the new CEO of Centaur Animal Health needed more accurate financial statements and better financial controls. He considered hiring an in house accountant, although the position he needed would require various skill sets including bookkeeping, accounting and, if possible, some higher level CFO experience. Since the CEO spent a majority of his time at a satellite office, he also wanted a local management presence at the Olathe, Kansas company headquarters that could assist with the internal operations.
Fulling Management & Accounting:
- Provided a team approach to match the company's needs. This included a bookkeeper, accountant, and CFO-level expertise, all as needed.
- Created a system of checks and balances to ensure financial accountability.
- Migrated existing financial data into updated accounting and bookkeeping software.
- Created a weekly dashboard that provides a concise snapshot of Centaur's financial position.
- Documented accounting operating procedures.
- Updated financial reporting to include profit and loss by company division.
- Coached Centaur's existing staff toward operational management.
Fulling Management & Accounting migrated Centaur's accounting software to a more powerful platform which gives them much greater control over inventory and manufacturing processes. The company now has a true accounting department in which the CEO can leverage more effectively than just one individual. This has allowed Centaur Animal Health to begin evaluating new marketing and product lines in which to grow.
"To be honest, I was very hesitant to work with a management company. We were handling our accounting in our own unique way and it was very complicated. If you didn't know what you were doing there was a good chance you could mess something up and lose data. Fulling Management came in a did an excellent job of deciphering what we had and converted it to something that is more industry acceptable and user-friendly. Fulling Management has gone beyond expectations in their ability to streamline our accounting process. We can dig into the data that we previously did not have access to. I have learned so much more by working with their entire team. Each person brings another level of expertise. It's been a great experience working with them." -Skip Metrokotsas, Director of Operations, Centaur Animal Health
"We did not have a formal accounting function in the company and needed to upgrade both software and managerial know-how. We're a small company, we're very entrepreneurial, and we move very quickly so we had some major deliverables we were looking for. We needed Fulling to come in and learn how we were doing things and then propose how we should improve on our process overall. From there it has grown to providing a variety of analytics and being able to better manage the business across the full spectrum. It was very quick into the relationship that I realized that there was a true added value that was being brought by Fulling Management to help us run our business. It's truly a partnership, I know they are looking out for our business very much as if it was their own. Fulling meshes extremely well with our team from an interpersonal perspective. They're always willing to help and advise on a scope of issues. I would have no hesitancy whatsoever recommending Fulling Management, from bookkeeping to actually assisting with CFO functions. They're just really, really nice people how are very competent." -Jeff Boily, CEO Centaur Animal Health