Case Study: G2 Technology Group
G2 grows its revenue by 190% with the help of SmartBooks
G2 Technology Group is an IT consulting firm providing business-focused technology solutions for early-stage SaaS companies. As a leading Amazon Web Services partner, G2 Technology Group helps software companies be more productive and deliver more frequent feature releases with fewer errors. With expertise on all major operating systems, G2 has the knowledge and skills needed to manage multi-platform cloud and onsite environments to their fullest potential.
Challenges
Owner and CEO Glenn Grant was performing the daily bookkeeping. G2 was operating with multiple bank accounts and multiple credit card accounts which added to the bookkeeping load. In additional to having to spend his time on the bookkeeping which detracted from his ability to run the business, Glenn was not getting the reports and data he needed to run the business. Glenn decided to hand off the bookkeeping and reporting responsibility to SmartBooks so that he could invest his time in higher value activities and growing the business.
“As an entrepreneur, having your finger on the financial pulse of your company is key. An organization that can take the day to day financial responsibilities off your hands, while at the same time providing the next level fiscal insight a growing company needs, is a hard find. SmartBooks is that company for us.”
Glenn Grant FounderHow SmartBooks Helped
Glenn engaged Smartbooks in stages over time. At first services included bookkeeping and limited financial consulting. Then as G2 continued to grow, SmartBooks transitioned G2 from cash basis accounting to accrual basis to make their reports more accurate and meaningful, and expanded services to include a full suite of forecasting and financial metrics reporting. “My favorite things from SmartBooks are the labor efficiency multiple report, MSP metrics report, and the P&L forecast.” says Glenn. “Being able to measure the profitability of our service delivery department and predicting our profit levels over the year is exactly what we needed.” Armed with this information, Glenn was able to better manage pricing and staffing to improve his profitability.
“If anything comes up that I don’t know about or have time to address, I know I can count on SmartBooks to take care of it. They always know the answer.”
Glenn Grant FounderOutcome
With the help of SmartBooks, Glenn was able to focus on growing the business rather than doing its bookkeeping or managing a part-time individual bookkeeper or accountant. Glenn got the metrics he needed to run the business. Without having to spend his time on bookkeeping, Glenn was able to grow revenue by 190%. Over the course of one year, SmartBooks helped G2 increase its gross profit margin on services by 25%.