RTA Group, LLC

BACKGROUND

Please describe your company and your position there.

We are a K12 communications company providing mass communication, websites, emergency management and a parent app to the education industry and more.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire RTA Group, LLC?

We needed a controller and CFO, but were not ready for someone full time or to hire someone within our company as it was cost prohibitive. We found RTA Group and was able to get the exact services, including a part-time bookkeeper for what we could afford.

We have weekly and monthly meetings and they take care of all our financial needs, including budgeting and forecasting.

What were your goals for this engagement?

We wanted to grow our company and needed the financial expertise to do it. We needed financial forecasts and budgeting for our various software products to make sure we could increase our growth and profit.

SOLUTION

How did you select RTA Group, LLC?

We really were sold on the forecasting solution. Many other companies offered solutions, but did not look at how we invoice versus amortize our billings over the contract. We really operate on a modified cash basis and this was hard for many other companies to see.

Describe the engagement in detail.

We have a bookkeeper in-house on Tuesdays and Thursdays that monitors and responds back to any client billing needs. This person is responsible for invoicing, processing AP/AR, and helping maintain clean books.

We also have a part time controller that is available in office once a week to go over any questions the owner has. Lastly, we also have monthly meetings with the CFO where our entire team comes together for an update.

Describe their billing or cost structure.

RTA Group bills on the project, not hourly. This means I am not worried about anyone wasting time and everything is consistent month to month.

If I need more work done than what we contracted for (as an example, if I decide to acquire a new business), then we talk about the increase in the project and what it needs BEFORE I am billed.

What was the team composition?

We work mainly with the CFO, Controller and Bookkeeper via Zoom, email, phone and in-person, where it makes sense.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

We go over our development spend on software products and how these decisions impact the bottom line or our cashflow.

By knowing where that number is monthly, we know if we will need a loan or another means of income to make it to this point before we do our yearly billings. This is also helpful when determining where we are at with our sales versus spend.

How effective was the workflow between your team and theirs?

We developed a process that allows us to close the books in a timely fashion and begin to look at the forecast together. Our sales team updates the pipeline and our HR team works with their team to update the personnel sheets.

Communication is easy and we know when they will be in office or available to address our needs.

What did you find most impressive about this company?

The forecast! They are also a very sincere and professional. They care about how we are doing as people and not just always the financial aspect. This means a lot to us as we feel they are more a part of our team because of this.

Are there any areas for improvement?

We are constantly updating and changing the forecast to meet our needs. With how quickly everything changes, we make many changes in our forecast meeting. We are working with them to change this dynamic and provide updates sooner.