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High-Tech Bookkeeping | Supporting Strategies

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Case Study: Payments Technology Company Engages High-Tech Bookkeeping

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Learn how a payments technology company optimized complex financial processes with the help of a high-tech bookkeeping and controller services company.

As an operations expert, Chris Wheeler had a clear mission when he joined Paystri, a Massachusetts-based payment processing firm: Deliver better customer service via evolving technology solutions.

That mission became more complicated when the financial administrator left the company. Wheeler had to find a new solution for handling a series of exacting bookkeeping responsibilities.

An Opportunity in Disguise
What looked at first like an insurmountable burden turned out to be a blessing. Rather than find another financial administrator, Wheeler turned instead to Supporting Strategies for outsourced bookkeeping and controller services. Not only did this eliminate the need for a full-time hire, but it also introduced Wheeler to a highly capable, technology-proficient partner that could work with him in lockstep as he optimized Paystri's customer service solutions.

"When it comes to accounts payables, bookkeeping and a few payment industry-specific financial processes, we needed flawless execution, and we also needed it like clockwork," Wheeler says. By working with Supporting Strategies, he achieved these goals. Now Supporting Strategies executes the processes seamlessly without his involvement, which he calls "a wonderful thing."

Moving Forward Together
In an increasingly cashless society, more and more businesses will partner with Paystri to streamline payments acceptance. And in Supporting Strategies, Paystri has the ideal bookkeeping and controller services partner to keep pace with that demand.

"As I've gained confidence in Supporting Strategies' abilities, I've phased in other in-scope tasks that they perform," Wheeler says. "They do payroll now, but in order to get there they had to take over a process unique to the payments industry involving revenue data and how that equates to calculation of commissions for employees."

Wheeler also uses Supporting Strategies to help with a subsidiary business called Paystri Cash. And to ensure adequate backup, the Supporting Strategies team recorded training sessions and used them to create a procedural manual on executing Paystri's complex procedures. "As a vendor relationship, there's a lot of depth there," Wheeler says.

To learn more about how Supporting Strategies can optimize technology to help your growing business, read the case study.

At Supporting Strategies, our experienced, U.S.-based professionals use secure, best-of-breed technology and a proven process to provide a full suite of bookkeeping and controller services. Are you ready to learn how you can move your business forward? Contact Supporting Strategies today.

Leslie Jorgensen

Author:

Leslie Jorgensen

Leslie is founder and CEO of Supporting Strategies.

Legal and Tax Disclaimer

This website is created by Supporting Strategies to provide general bookkeeping and accounting information only. Supporting Strategies does not provide tax, legal or accounting advice, and the information contained herein is not intended to do so. As such, the information provided should not be used as a substitute for consultation with professional tax, legal, and accounting advisors, and you should consult with a tax, legal and accounting professional before engaging in any transaction.