Outsourced Accounting and Finance

Transition Aligns with Growth of LBMC’s Outsourced Accounting Affiliate Company and Increasing Client Demand

LBMC W Squared, LLC, a national leader in the outsourced accounting profession and an affiliate of top business consulting and advisory firm LBMC, is pleased to announce its new leadership team with Chris Morgan as CEO, Michael Smith as Senior Vice President, Accounting Systems and Implementations, and Mandy Kennedy as Vice President, Operations. LBMC W Squared founder Tammy Wolcott will continue to serve in an advisory role for the company, as well as continuing in the CEO role for LBMC Procurement Solutions.

Read the full press release.

Managing finances can be a daunting task for businesses of any size. That’s why we offer scalable finance and accounting services that deliver transformational value through process excellence, integration, automation, benchmarking, and decision support. Our team provides the people, systems, analysis, and reporting necessary to efficiently track your expenditures and income, freeing up your time to focus on growing your business.

With our services, you can experience significant improvements in the way you manage your company. We offer a range of services, including:

• Month End Close and General Ledger Management
• Accounts Payable and Accounts Receivable Processing
• Cash Management
• Multi-Entity Consolidation & Segment Reporting
• Comprehensive Financial Statement Reporting (Operational Analysis, KPI’s, Board Package)
• Tax & Audit Package Preparation & Assistance

Our solutions are designed to be scalable, ensuring that they can grow alongside your business. By partnering with us, you’ll have access to expert support that can help you make informed financial decisions, streamline your processes, and ultimately increase your bottom line. So why waste time managing your finances alone? Let LBMC W Squared help you transform your financial management today.

Your LBMC W Squared accounting team is always “virtually down the hall” and an email away. Some of our core competencies include:

• Intacct / MS Dynamics Great Plains – Enterprise-level software solution
• Maxio
• Bill.com Payments Platform
• Expense Reporting Tools
• Document Management & Workflow
• Ipreo Equity Ownership Platform
• Multi-Entity Management
• Data Integrations
• Advanced Reporting

Effective strategic and financial management is crucial for the success of any business. It involves not only managing accounting departments but also making sound financial decisions that align with the company’s objectives and long-term goals. Our leadership team has a wealth of experience in navigating complex financial landscapes, identifying potential risks and opportunities, and developing strategies to maximize profits and minimize costs.

LBMC W Squared knows that every business is unique, and we provide tailored solutions to meet each client’s specific needs. Whether you are a small start-up or a large corporation, we offer scalable solutions that can help you achieve sustainable growth. Our team works closely with clients to understand their business operations and challenges, enabling us to provide personalized recommendations and effective solutions.

We take pride in our ability to provide stress-free financial management services, allowing our clients to focus on what they do best – running their core business. With our team of experienced professionals handling the accounting and financial management, you can be confident that your company’s financials are in good hands. Contact us today to learn more about how we can help your business achieve its strategic and financial goals.

• Comprehensive Financial Analysis (Budgeting, Forecasting, and Pro Forma Analysis)
• Preparation & Process for Future Monetization Event (Recapitalization or Acquisition)
• Investor/Board Strategy & Communication
• Relationship Management with Private Equity/Venture Capital Partners
• Provide tactical and strategic advisory services for financial and business operations

LBMC W Squared Partners with Maxio

We are proud to announce our partnership with financial operations platform Maxio to further enhance our outsourced accounting solution for clients. Maxio’s software products enable SaaS companies to efficiently manage subscriptions, billing, payment processing and metric reporting. In addition, Maxio’s software solution provides a framework that allows companies to easily scale as the company grows.

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Demo of Maxio: Learn how we can help you.

Situation
A Nashville healthcare investment banking veteran decided to start a highly specialized strategic advisory firm just as COVID-19 began to impact business economies around the U.S. Starting a new business as the country was shutting down was not ideal, but they still needed a complete back office. They found one in LBMC W Squared’s outsourced finance and accounting solution and other LBMC business services.

Approach
LBMC W Squared was engaged as the client’s finance and accounting department to design and establish the cloud-based accounting, bill payment and expense reporting systems, develop policies and procedures and provide all accounting, procurement, accounts receivable and accounts payable functions. LBMC W Squared was able to stand up the new system, infrastructure and services in April and May, despite a national shut-down, by providing a virtual deployment.

Outcome
The client was able to open their office, bill their clients, pay their AP, and produce financial statements for operational and regulatory purposes. They reached steady state for monthly activity and financial close in under 6 months DURING a worldwide pandemic. This rapid deployment and successful implementation would not have been possible without the expertise and professionalism of the LBMC W Squared team.