SUPPORTING STRATEGIES PROVIDES MOODY, FAMIGLIETTI & ANDRONICO PEACE OF MIND BY SERVING AS A BOOKKEEPING RESOURCE THE FIRM CAN TRUST
Moody, Famiglietti & Andronico, LLP (MFA) is a CPA and consulting firm located north of Boston with national and global reach. Since 1981, the firm has provided tax, audit and consulting services while also serving as a proactive and trusted advisor. MFA’s 160+ professionals go beyond “nuts and bolts” accounting to support clients with deep expertise, critical guidance and strategic advice that drive business growth.
Offloading a Non-Core Offering
Bookkeeping isn’t a core offering for most CPA firms. Some try to handle bookkeeping in-house, but the low margins often make it a nuisance rather than a profitable exercise. As a result, CPA firms often decide to refer clients to third-party vendors for these services.
Years ago, MFA realized that providing bookkeeping services didn’t make business sense for the firm. Furthermore, it would have represented a conflict of interest because MFA performs audit and assurance services for many clients.
Travis Drouin, CPA, CIA, a Partner at MFA, had been frustrated by his previous experience with bookkeepers. Several times, he referred clients to bookkeepers who delivered unsatisfactory results. “That can hurt because your reputation is on the line each time you make a referral,” he says.
The absence of a bookkeeper — or a bookkeeper who does a poor job — can also harm the CPA firm in other ways. “When the quality of the client’s records is not good, it requires us to spend more time and charge more for our services,” Drouin says. “Besides slowing down our team, that experience can also cause strife with the client.”
The Solution He'd Been Looking For
Drouin’s search for the right bookkeeping solution eventually led him to Supporting Strategies. He liked the business model — i.e. multiple team members and layers of review, along with supervision of talent — and that “they have standardized processes in place as well as people who care about ensuring they deliver their promised services.” Around 2006, he started referring clients to Supporting Strategies.
By sending clean, audit-ready financials, Supporting Strategies has consistently made MFA’s process go much more smoothly. Supporting Strategies has also been diligent about providing records in a timely manner, thus making it easier for MFA to meet tax related and other deadlines.
“The records my clients get from Supporting Strategies help their management teams understand KPIs [key performance indicators] and make decisions on company direction based on those KPIs. That’s very meaningful,” Drouin says.
The ability of Supporting Strategies to right-size its services also stands out to Drouin. “Supporting Strategies’ services are structured to meet the needs of each individual client, and they can also scale up to accommodate client growth,” he says.
Positive Client Feedback
Over a decade into the relationship, Drouin has been heartened by the positive feedback he hears from clients working with Supporting Strategies. He notes that some have even called working with Supporting Strategies the best decision they’ve ever made.
“I have absolutely no hesitation when it comes to referring Supporting Strategies to any client or potential client of mine,” Drouin says. “They deliver consistently, they’re cost-effective in terms of the value they provide, and they scale well. I simply don’t have to worry when I make an introduction to Supporting Strategies.”