A steel manufacturing company specializing in construction materials recently faced a critical need for accounting support after being acquired and experiencing a period of high turnover.
DLC was engaged to provide interim assistant controller and accounting support services, addressing urgent gaps in the company’s accounting framework during an audit and while they sought permanent staff.
Following a period of rapid turnover, the client found themselves without essential accounting expertise. This lack of resources caused operational inefficiencies, hindered financial reporting accuracy, and raised audit concerns.
Additionally, the client’s systems and processes were outdated, leading to challenges in accounts payable (AP) processes, lease compliance, and general accounting operations. Without the expertise of seasoned CPAs, the client’s internal team struggled to resolve these issues, further complicating monthly close activities and compliance efforts.
DLC’s team conducted an initial assessment, pinpointing key gaps in lease management, inventory, and AP processes. Next, we made leases GAAP-compliant and developed new reporting tools for inventory management to improve tracking and data accuracy.
Additionally, our team streamlined the client’s AP process, including check runs, accruals, and approvals to reduce manual data entry errors and shorten processing times.
By holding weekly progress meetings and training sessions with the client’s AP team, we transitioned them from manual workflows to automated processes, ensuring the changes were well-integrated into daily operations.
The client now benefits from a stronger accounting function, reliable financial reporting, and enhanced internal controls, positioning them to operate efficiently and compliantly.
Through DLC’s support, the client also achieved the following outcomes:
