Case Study: CFO Partner With The Growing Addison Biological Laboratory Team
Addison Biological Laboratory has been a client of ours for a long time. Our team loves partnering with them and having a front row seat to their growth. Here is a case study on how we’ve come alongside their team to support their growth, profits and peace of mind!
The Situation
When Bruce’s business partners sold their company that was handling all the day to day accounting for Addison, Bruce had to decide how to best to handle accounting, invoicing and financial oversight for their growing company.
The Solution
Fulling Management and Accounting joined the Addison team as their accounting/CFO team. Our team partners with Addison in several areas:
Implementing an efficient & effective accounting process to take care of the daily accounting needs
Accountability & focus for owner
Business and contract negotiations
IT management support
Succession planning and implementation
Listening & responding to other areas of need in the business.
The Results
In partnership with the Addison leadership team, Fulling manages the accounts payable, payroll, financial statement preparation, 401K, legal correspondence, insurance analysis, owner accountability, and more. Addison is able to take advantage of services typically performed by a full time bookkeeper, accountant and CFO but at about 75% of the cost. Fulling is an integral part of the management team in focusing on strategic growth and succession planning.
Testimonial
“Fulling Management literally functions as the CFO of Addison Biological Laboratory. Fulling is beyond just the numbers they are well rounded in every aspect of business. Their recommendations are well thought out and based on solid, critical thinking and knowledge. They can be critical of a situation in a positive, constructive way, and I am never offended by it; instead, I am grateful for their perspective and objectivity. If you want to boil it down, what I look for are people with character and integrity. I don’t care how smart they are, if you can’t trust them, I don’t want to work with them. Fulling’s character is above reproach. They are top of the list.” — Bruce Addison, President, Addison Biological Laboratory, Inc.