HAS Case Study- GrandTech
How GrandTech Achieved Financial Clarity & Strategic Growth with Hasenbank Accounting Services
Managing the financial side of a growing MSP (Managed Service Provider) can be challenging, especially when juggling day-to-day operations. GrandTech faced these challenges head-on until they discovered a game-changing solution—Hasenbank Accounting Services (HAS). Here’s how HAS helped GrandTech streamline financial processes, improve reporting accuracy, and ultimately position the company for a successful merger.
Finding HAS: A Trusted Referral:
GrandTech found HAS through a trusted recommendation within their MSP peer group. Several technology colleagues were already working with HAS and strongly advised connecting with Angie and her team to bring much-needed order to GrandTech’s accounting processes. These referrals highlighted HAS’s expertise in supporting MSPs and their ability to provide valuable input for Service Leadership Index (SLI) submissions.
The Challenge: A Patchwork Approach to Accounting
Before partnering with HAS, GrandTech relied on a makeshift accounting system consisting of a part-time bookkeeper and the CEO handling finances alongside other responsibilities. This approach was far from ideal, especially when it came to producing accountability documentation for quarterly MSP peer group meetings. The lack of structure and efficiency created bottlenecks that made financial management increasingly difficult.
Why They Outsourced: Overwhelmed and Falling Behind
As the business grew, GrandTech's leadership found themselves falling behind on essential financial tasks. Challenges included:
Delays in financial reconciliation.
Misclassification of sales and services.
Struggles with maintaining up-to-date financial records.
Recognizing the need for expert intervention, GrandTech decided to outsource their accounting to HAS to bring clarity, structure, and reliability to their financial operations.
The Solution: Professionalized Financial Management
HAS stepped in with a tailored approach to transform GrandTech's financial landscape. Their solutions included:
Strategic Financial Mapping: HAS developed a comprehensive map of GrandTech’s products and services, aligning them with SLI methodologies and industry best practices.
High-Level Insights: They provided executive-level financial reporting, offering a clear picture of company health at a glance.
Detailed Accounting: From cost of goods sold (COGS) reconciliation to expense alignment, HAS tackled the details to ensure accuracy and compliance across financial statements.
With HAS, GrandTech gained a team of financial experts who understood the nuances of MSP operations and provided a seamless, structured approach to financial management.
The Results: A Path to Growth and Strategic Success
The impact of working with HAS was transformative for GrandTech. The key benefits included:
Operational Sanity: HAS brought professionalism and order to an otherwise chaotic financial situation, freeing up leadership to focus on growth.
Efficiency Gains: Streamlined processes and improved documentation allowed for smoother quarterly peer reviews and better financial oversight.
Strategic Growth Opportunities: With HAS’s support, GrandTech identified key areas for improvement, leading to several successful quarters and, ultimately, positioning the company for a Letter of Intent (LOI) to merge with another MSP in late 2024. This strategic move paved the way for the CEO's planned exit strategy.
By bringing in HAS, GrandTech not only gained control over their financial operations but also unlocked new opportunities for growth and long-term success.
"Partnering with Hasenbank Accounting Services was a game-changer for us. They didn’t just clean up our books—they provided the clarity and strategic insight we needed to make informed decisions and drive our business forward. Thanks to their expertise, we were able to streamline our finances and position ourselves for a successful merger. HAS truly gave us the confidence to take the next big step."
- Rick Berry, CEO
Conclusion:
For growing MSPs struggling to balance financial management with business operations, Hasenbank Accounting Services offers the expertise and structure needed to thrive. GrandTech’s journey proves that partnering with HAS can bring order to chaos, unlock growth potential, and provide the financial clarity needed to make strategic business decisions with confidence.