TGG Accounting

BACKGROUND

Please describe your company and your position there.

I’m the co-founder and VP of the largest business media and events company serving the legal cannabis industry. We are a multimillion dollar firm with more than 50 full time employees.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire TGG Accounting, and what were your goals?

We contracted TGG to run our accounting and finance department, which included working closely with internal a/r and a/p staff as well as high level shareholders. They created new financial reports so we can better understand our business, gave us strategic advice, helped make the annual budgeting processes far easier and made us feel secure that we are managing finances correctly.

SOLUTION

How did you select this firm and what were the deciding factors?

We had heard about them from another satisfied customer - a CEO in the Denver area. We interviewed them, reviewed sample financial analysis reports, and their contract. We liked them and also liked the fact that it’s not a year contract, you can move on at any time without penalties.

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

They are working with our Netsuite and Salesforce systems as well as our internal staff to gather information and produce financial reports. They’ve adjusted their report templates to make sure the information and graphs match our unique needs. They keep us informed about our financial status, helped build our budgets and advise us on financial matters. They are deploying a team of four, including a CFO-level person, to work on our account on an as-needed basis.

Describe their billing or cost structure.

We only pay for the hours of service they provide. So far they are far more cost effective than hiring the same level of expertise in-house.

How many resources from the firm's team worked with you, and what were their positions?

We have an account leader who is senior and meets with us monthly. We have a CFO-level person who meets with us more frequently as needed. That person oversees her own team of three accounting staff. In addition she liaises with our executives in other departments as needed, such as during budget time.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

Their work has been superlative. They cost less than similarly experienced internal staff would, but I’d keep them even if they cost more. They are pleasant people to work with. They never mind explaining complex things in clear language. And we love the reports. Life is easier with TGG around.

Describe their project management style, including communication tools and timeliness.

They have formal monthly meetings with leadership on our end to go over reports. They liaise well on an ongoing basis with our small internal finance department staff. Their work is swift, I’ve never gotten through annual budgets so quickly.

What did you find most impressive or unique about this company?

It’s such a pleasure to work with them. It’s rare for things to feel so easy when working with contractors.

Are there any areas for improvement or something they could have done differently?

I wish I’d known I could hand over more work to them at the start. It took us a few months to understand their full capabilities, but now we are using all of them.