CASE STUDIES

Scenarios outlined below represent typical real world situations that a client may face in their business. BizFHIT solutions would help mitigate or eliminate the effect of typical outcomes.

JULIE'S CAKES

Case Study #1

FINANCE SCENARIO:

Cash Flow Management

Julie is a pastry aficionado who owns her own cake business. Between baking and managing the business, Julie is having a hard time keeping up. Her receivables keep growing and there isn’t adequate follow up on old AR. She also just had a vendor check bounce.

 

Typical Outcome:

  • Delayed collections results in Julie using borrowed funds for cash flow and additional interest costs

  • Harder to collect delinquent balances and possibly writing off AR balance

  • Penalties for insufficient funds on bounced checks and lack of credibility with vendor

 

The BizFHIT Solution:

  • Continuous updates on an online accounting system that provides current AR and bank balances

  • Help make collection follow up calls on behalf of Julie

  • Provide access to a cloud based accounting system that allows her to print up-to-date bank and AR reports anytime, anywhere

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Man in Suit

ALEX WORKFORCE SOLUTIONS CO.

Case Study #2

HUMAN RESOURCES SCENARIO:

Department of Labor Investigation

Alex is the owner of a staffing company. He has a surprise DOL investigation.

 

Typical Outcome:

  • The investigation takes place and Alex's business receives a monetary fine of up to $1,000 for each missing document e.g. possible total fine of $4,000 for just 4 missing documents
     

The BizFHIT Solution:

  • Assist with staff employee orientation

  • Create centralized cloud-based record-keeping system

  • Help with quarterly internal compliance reviews

  • Provide assistance in managing the inspection

DANNY'S GRAPHICS INC.

Case Study #3

INFORMATION TECHNOLOGY SCENARIO:

 Hardware/Software Problems

Danny is a freelance graphic designer who owns his own business. One morning when booting up his computer, he experiences a hard drive failure and loses all of his data or has a virus or malware issue.

 

Typical Outcome: 

  • Significant lost productivity e.g. $200 per hour bill rate for 3 hours could mean lost revenue of $600 for just one person

  • No backup means Danny has to spend countless hours recreating the work he has lost

  • Inability to email and not having access to a working computer could result in missed business development opportunities.

 

The BizFHIT Solution:

  • Implement a cloud based storage solution that protects Danny from losing his client's work.

  • Using remote support tools we diagnose and fix the issue, and help get Danny's computer back up and running in no time.

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CURLIGURL HAIR

Case Study #4

MARKETING SCENARIO:

Social Media Presence

Alisha founded CURLIGURL hair for women who wanted natural hair products, free from harsh chemicals. She is struggling to increase her sales and is having a hard time figuring out how to use social media to help spread the word about her business.

 

Typical Outcome: 

  • Alisha is unable generate sufficient buzz about her core product line or post about new and exciting developments she is working on.

  • She is unable to meet her sales targets and having difficulty sustaining her business.

  • She loses her capital investment in her business.

The BizFHIT Solution:

  • Work with Alisha to develop content including professional photography of her product line.

  • Help her build narratives that speak to her target customer.

  • Develop a social media strategy to engage her target audience on Instagram and Facebook.

DOUG'S DELI

Case Study #5

TAX COMPLIANCE SCENARIO:

Penalty Notice

Doug is a Deli owner and has received a payroll or sales tax non-filing notice including tax, interest and penalties

 

Typical Outcome: 

  • Doug makes a payment of the entire amount out of fear

  • He is unable to challenge the notice due to missing or unavailable data

  • He immediately has to hire an expensive professional for assistance

 

The BizFHIT Solution:

  • Timely file all returns and provide Doug copies of returns and supporting documents

  • Centralize his records so they are accessible anytime

  • Help him manage due dates for his business filings

  • Our team will contact the department and try and help resolve the issue

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An affiliate of B.N.Thakkar CPA P.C.