Stories of success from clients we’ve been happy to help
Residential Land Developer
- Generated $1.7 million of abandoned project cost deductions and coordinated amending tax returns, generating over $500,000 in tax refunds.
- Converted from an antiquated & cumbersome accounting system to a platform widely available and a fraction of the cost. Savings of over $1,000 in license fees per year, 50% reduction in staff time, and greatly increased functionality, reliability and efficiency.
- Improved A/R collection period by an average of 15 days each month
- Reduced accounting time spent by management from 4 hours per week to 4 hours per month; an additional day & half each month for meeting with customers.
- Increased line of credit by 5X with ½ point rate reduction, allowing client to expand services and hire additional work crews.
- YTD Revenue growth of 32.2% from 2011 to 2012
Commercial Land Developer
- Simplified accounting procedures and better-trained bookkeeper allowed client to eliminate part-time accountant while receiving better & more accurate information. Annual cost savings of approximately $7,000.
Carpet Cleaning Business
- Identified missed deductions in prior year tax preparations. Recommended change in tax preparer; amended returns yielded over $10,000 in tax refunds for a business with under $500K in revenue.
Moving & Storage Business
- Handled Controller function after departure of employee with 20+year tenure. Interim project consisted of 2.5 days per week while interviewing potential candidates, assisting with hiring process and training new Controller.
Prepared custom financial package for management team; monthly meeting allowed management to spend 1 hour each month yet maintain effective understanding of company operations.
Fast-Casual Restaurant HQ
- Generated $15,000 in savings based on previous quotes for three essential insurance policies. Coverage was increased to include three policies previously not in force while keeping premiums level.
Construction Equipment Sales
- Hired by management consultant to determine true profitability of business operations of client. Determined that owner’s discretionary expenditures averaged $340K over 3 years. Consultant used this information to advise the client and restructure operations, saving the client’s business.
- Contracted by bank to investigate a drastic decline in a bank customer’s financial condition in a short period of time. Identified several areas for questioning by the bank and interviewed bank customer’s CFO. Provided client with memo detailing Lucrum’s findings and areas for further investigation if warranted. Client settled with bank shortly after.
- Recommended replacement of underperforming staff member; assisted with hiring and training of new office manager. Within 6 months of hire date, Lucrum & new office manager had identified $10,000 in annual expense reductions.