XCELERATE BUSINESS ADVISORY LLP

BACKGROUND

Introduce your business and what you do there.

I was the accounting manager for an agritech company focused on vertical farms across the US and Canada.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with XCELERATE BUSINESS ADVISORY LLP?

We spun out from a parent company and needed help reconciling our balance sheet accounts. We also needed assistance with setting up fixed asset modules in NetSuite and reconciling accounts payable. 

SOLUTION

What was the scope of their involvement?

XCELERATE BUSINESS ADVISORY LLP helped us reconcile our balance sheet accounts and set up the fixed assets module in NetSuite. They also assisted us in reconciling accounts payable and integrating our third-party software with NetSuite. The team provided operational accounting and bookkeeping services, including month-end closing tasks, bank reconciliations, and applying payments to invoices. 

What is the team composition?

We mainly worked with Gaurav, Dev, and Sanjana. Gaurav was our main point of contact. 

How did you come to work with XCELERATE BUSINESS ADVISORY LLP?

My boss found them on Upwork. 

How much have you invested with them?

We spent over $100,000. 

What is the status of this engagement?

The engagement lasted from August 2021–April 2023.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

XCELERATE BUSINESS ADVISORY LLP’s work brought us a lot of efficiency. They implemented the fixed assets module within NetSuite, which helped us track our fixed assets. Gaurav also provided us with accrual reconciliations, allowing us to track unpaid bills and address them with vendors. Overall, we saw an improvement in efficiency and accuracy in our financial reporting.

How did XCELERATE BUSINESS ADVISORY LLP perform from a project management standpoint?

We didn't have a specific budget, but we asked them to provide their time cards and track their activities. We were more concerned about getting things done and meeting our month-end deadlines, which they did.

What did you find most impressive about them?

The team was very personable and friendly. They addressed concerns and asked questions. They had a chartered accountant designation from India and brought the skill set we needed at the time. The team was strong in operational accounting and understood financial reporting tasks. They were easy to reach out to and responsive.

Are there any areas they could improve?

There was always room for improvement. Since they worked out of India, our hours didn't always match up, making it difficult to schedule some meetings. More frequent communication would have been better.