The Client
TSI Energy Solutions provides a menu of inspection services for residential, commercial, utility and water clients to identify, repair and protect homes, buildings, equipment and structures from moisture, leaks and corrosion with a dedicated focus on improving and correcting inefficient energy usage.
The Challenge
As a fast-growing business with limited accounting expertise, it became imperative for TSI to partner with an outsourced, full-service accounting partner to alleviate the burden of day-to-day bookkeeping duties, including serving as administrator of their company payroll services. Of utmost importance was finding a firm that TSI leadership could trust with “opening their books” and sharing financial information in a secure and respected environment.
The Solution
With employees located remotely, management of moneys paid to those employees was imperative. Foster Results provides TSI with a full range of payroll services to keep track of employee hours worked, expense reimbursements, employee’s credit card usage, vacation, and personal/sick time. By utilizing Foster Results to manage payroll and monitor all moneys and benefits provided to employees, TSI was able to alleviate the overhead cost of internal payroll staff while maintaining oversight control.
Foster Results was also able to streamline QuickBooks usage and provide real-time financial data in an understandable way. They reviewed and replaced TSI’s existing accounting practices with outsourced solutions that could provide usable and sound financial data while reducing the cost of accounting.
Highlights
- Streamlined accounting payroll systems and processes alleviating internal staff overhead
- Established a process for internal financial management
- Developed trusted lines of communication