So, a couple of guys decided to try it, and they quickly realized that a lack of CFO strategic advice was causing big pain for entrepreneurs, who needed financial visibility for strategic decision making. As time went on, these same entrepreneurs realized they needed a resource who could do month-end close, or take care of A/P, A/R and payroll. So, we added controllers and bookkeepers and grew.
And then something happened to rock the world of many young, entrepreneurial companies. The financial markets suffered significant damage and, all of a sudden, obtaining and keeping debt financing became more difficult as banks created a new level of expectations and financial visibility for their lending customers. So, like many other companies, our business pivoted a little, as we worked with client companies to help them stay afloat. During this time, mAccounting continued to grow, and even though a few more outsourced, part-time, or fractional CFOs came into the picture, most didn’t have the team or depth of experience in technology to capitalize on the disruptive changes in store for the outsourced accounting sector.
The mAccounting team had grown to 28 and we were serving an exciting and diverse group of clients who were doing amazing things. Companies were looking for more efficient and safer ways to pay bills and accelerate cash flow while having key information at their fingertips to help manage operations. Because we sometimes think of ourselves as the accounting firm that wants to be a tech company, we embraced the technology challenge to deliver what our client companies needed. A dedicated team was assembled to identify and test a suite of technology tools, and once we were convinced, we started implementing these technology solutions for our clients.
In addition, our tax practice helps make mAccounting a one-stop shop for integrated accounting and tax solutions. Along the way, we’ve been recognized as one of Intuit’s 20 Firms of The Future (2015), and we were finalists for two TechPoint Mira Awards (2016 and 2017). We’re using more technology for more client companies to deliver solutions based on each of their unique needs. More importantly, behind all that technology is our talented and dedicated team of nearly 40 individuals, including 18 CPAs. Our team is the reason for our success, and we take pride in being recognized as one of Indiana’s Best Places To Work for the past two years.