Streamlined Management of Resources
Name of the company- Mugford & Dibella Case Study
Mugford and Dibella, CPA Firm
Mugford and Dibella LLC is a full-service Certified Public Accounting Firm running out of Connecticut. The firm offers services such as personal financial planning, tax planning, preparation and filing, and bookkeeping services. Brian Dibella is a Managing Partner and has an experience of more than thirty years of running a CPA firm.
Human resource is a key measure of a company’s growth. This is also where our client was facing a challenge. The growing business needed resources to support the back office. The CPA industry is facing a huge shortage of experienced accountants and bookkeepers to support the growing needs of CPA firms. Mugford and Dibella were facing a high attrition rate. Employees didn’t spend much time with the company which meant high training costs. It also meant that there were very few resources to handle the clients that kept flowing in. Lack of resources meant bad bookkeeping, delay in transaction processing and overall setback in the fulfilment of services.
The Lagging Areas
- back-office support
- accounting to many clients
- timely uninterrupted workflow
- tax data entry
GlobalFinFocus's Dhiraj has many years of multi-industry experience including working and managing many professional service firms. Brian tapped his experience to tackle the challenge of continuously supporting his growing base of clients. Team at GFF solved a range of problems which resulted in increased efficiency and reduced costs. It incorporated latest automation technologies and tools which aligned the company’s operations with the modern systems.
The turning point to Brian's tax practice was when GFF introduced automation to handle the tax practice. GFF also introduced solutions like Quickbooks and Buildium. The software solutions streamlined the processes for the clients and reduced the dependency on huge manual power.
Efficient, uninterrupted and errorless bookkeeping has helped Mugford and Dibella to grow into a $ 1.2Million company. The company has now set its sight on achieving the $2 million growth target.GFF’s timely solutions have helped them to retain new clients and become a go-to source for all the accounting needs of their clients.
The solutions have helped them redesign the chart of accounts to create monthly KPI so that data can be leveraged for better actionable insights. Less human intervention saved the rising cost of training new resources. It also helped the employees with their workflow and helped in their retention with Mugford and Dibella.The tax automation helped Mugford and Dibella to save more than $40K each year only during the tax practice. In the coming years, the numbers are sure to increase as the firm continues to grow.