Founded in 2006, Scopix Solutions provides intelligent video analytics for retailers, consumer package goods companies and manufacturers. The Burlingame, California-based company reached out to Armanino after rapid growth brought them to a turning point.
“As we continued to grow and our leadership began forecasting what the business would look like, it was clear that it would be smart to outsource our financial function,” says Scopix office manager Erin Montagne. The company only had a temporary person doing basic bookkeeping, so they outsourced payroll, accounts payable, reporting, bank reconciliation and tax management to Armanino.
Employees were used to paying invoices whenever they needed to―sometimes on very expedited terms. The transition to a more disciplined, systematic financial management process took some getting used to, but it freed staff to focus on customers and prospects.
“We’re able to leverage the different types of expertise among the Armanino staff with whom we work,” says Montagne. “We feel like that gives us such a big advantage for a small company, without having to add full-time staff.”
Access to financials via the Cloud is a necessity for Scopix. Its own services are cloud-based, and many employees work remotely from locations across the country and in Chile, where the technology arm of the company is located. “A cloud-based solution fits our model perfectly,” says Montagne.
Cloud technology also allows employees to connect with Armanino team members and ask questions or get help quickly. Scopix and Armanino use XERO, an online accounting software program that is a portal for sharing financial information, connecting bank accounts, invoicing customers and managing cash flow.
The company plans to tap more heavily into Armanino’s planning and forecasting expertise as they grow. “We’re already moving past the point of the relationship being transaction-oriented, although it’s a wonderful feeling to know all those transactions are being handled promptly and efficiently,” says Montagne. “We feel like we’ve just begun to scratch the surface of how this partnership can help guide us as we move forward.”
March 13, 2015
