Global Shop Solutions, a provider of Enterprise Resource Planning (ERP) software, presents the Virtual Controller, an online financial consulting service for smaller wood manufacturing businesses.
“With this service, we provide some of that higher level management experience without companies having to hire somebody with that skillset,” Joddi Goertzen, a senior financial consultant with GSS, tells Woodshop News.
“For example, we’re working with a customer that has a great person working with them that does all the monthly transactions, but just doesn’t have the skill level yet to look at things and see the story and the picture within that data. So, we will review their reports and look for opportunities for improvement that we can bring to management.”
The Virtual Controller will initially handle reconciling accounts receivable and payables to the general ledger, inventory batch processing, inventory reconciliations, and more. The consulting team then analyzes the data to ensure the numbers are correct and generates financial statements and summary reports ranging from income statement results to month-over-month analysis and cost accounting reviews. The team then offers to provide any necessary training and education needed by the customer.
“Cabinetry shops are typically smaller organizations and they’re probably trying to be as efficient as possible. So, for a lot of the businesses that size especially, we can fill that gap,” Goertzen adds.
The service is offered through a set flat fee as an add-on to the company’s ERP offerings.
For more, visit globalshopsolutions.com.
This article was originally published in the August 2022 issue.