It had a positive domino effect on his whole business portfolio.

With three companies to run, Andrew’s accounting had become an afterthought. His books were a mess, he felt stressed about surprise CRA audits and he didn’t realize he was paying more than he needed to in tax. Here’s how we transformed his accounting and gave Andrew the clarity and confidence to focus on growing his businesses.

Andrew was no stranger to running a business.

With an MBA and the experience of owning several companies under his belt, by 2021 Andrew was overseeing a steel shipping firm, a telecommunications company and a freight brokerage business.

It was a lot to juggle. Andrew had an internal accountant to cover all three businesses – but it was simply too much for one person to handle. When one company needed focus, the others were neglected and their books quickly became disordered.

Invoices were being sent out late, delaying when revenue was coming in. It had a knock-on effect on budgets and forecasting, and Andrew felt frustrated knowing things were slipping through the cracks. It took time and focus away from making plans for growth.

It didn’t make financial sense to hire an accountant for each business. Andrew’s companies experienced seasonal fluctuations in demand, meaning their accounting needs were greater during summer. Hiring permanent employees wouldn’t be worth it during the low season.

He knew he needed to outsource the accounting.

Instead of hiring three separate accountants, Andrew realized he could hire one third-party company to manage everything.

When he came to us, we held a diagnostic review to figure out exactly what his business needed. We listened to what Andrew wanted and built a custom program around his needs.

Andrew had already interviewed other accounting firms, but when he sat down with our owner James, it just clicked. He appreciated being able to talk to James directly and get to know the person working on his accounting, rather than being passed between different staff accountants at larger firms.

Punctual monthly reporting was a game-changer.

At first, we took on Andrew’s year-end filing before moving to quarterly filing and reports. As the relationship developed over time and Andrew grew more comfortable, he moved to a monthly service plan.

Under this plan, Andrew knew he could expect financial reports delivered at the same time every month. This provided him with a goldmine of data and insights he simply hadn’t been able to get from an in-house accountant.

It transformed the way he made strategic decisions.

Before, Andrew was left in the dark when it came to decision-making. He didn’t have concrete numbers to base strategy on and was flying blind when it came to making the next move. Without cash flow forecasting, he lacked any strategic direction.

Now, Andrew was armed with valuable data he could use to determine strategy and inform major decisions. It was all made possible by quick, accurate reporting and the monthly metrics we provided. He now had brand new visibility over his finances.

Andrew set his company meetings to align with when he got the financial reports. It meant he went into key meetings equipped with valuable insights he hadn’t previously had access to. He was able to take that data to his team and use it to make collaborative, growth-driving decisions.

He now had the confidence he was basing strategy on evidence instead of instinct.

We helped Andrew avoid a costly mistake.

When he has a business idea or wants to make a big purchase, Andrew doesn’t have to do it alone. He knows James and our team are a phone call away, here to share advice grounded in years of experience and ensure he gets the most out of every opportunity.

When he was considering whether to purchase another company, James showed him how to do so in the most tax-efficient way. He drew up diagrams and plans, sitting down with Andrew to explain how to approach the purchase to ensure he’d hold onto as much of his hard-earned wealth as possible.

Andrew notes, “I would have made decisions that didn’t make tax sense. [James] saved me quite a bit of money through that meeting”.

We then examined Andrew’s other companies, making simple structural adjustments to save significant amounts in tax. In total, we reduced Andrew’s overall tax bill by five figures. It was cash he could re-invest into his business and use to build personal wealth.

The cost of outsourcing his accounting was offset by the savings we found. It also eliminated any worry about managing an internal financial team and having to deal with the costs and responsibilities that come with it.

“We know exactly what we’re paying on a monthly basis”.

Andrew went from having confusing, unusable numbers to gaining 20/20 vision over where his cash goes.

“My overall books were a mess before we came to [TitaniumHQ]. They were all over the place. The reports we tried to pull would be nonsense. Now, we have broken down reports so we can see exactly where the money is going. We know exactly what we’re paying on a monthly basis.”

The most significant savings were on fuel.

“We were spending a crap-load of money on fuel but in the past we had no idea exactly how much it was. Once I saw that – we’re now getting a discount on fuel because of the amount of money we’re spending on fuel.”

Andrew now feels relieved, confident and focused.

He’s no longer preoccupied with the state of his accounts or concerned about surprises from the CRA.

“I was worried about audits before. Now I feel super comfortable that if anything were to happen, everything makes sense.”

We’ve given Andrew the time to focus on growing his companies instead of worrying about financial admin. He wishes he’d outsourced his accounting sooner, encouraging business owners to concentrate on what they’re best at instead of trying to cover all bases.

“You need to focus on what you know. Spending time on something that’s just a time-suck and not doing it properly is NOT worth your time. Focus on what you know and let an expert take care of the accounting”.

Transform your business with an expert financial team.

Like Andrew, as a driven business owner you’re spinning more plates than you can count. Our team of high-level financial advisors block out the noise so you can focus on what really matters.

We’ll tell you if you’re paying too much tax, show you how to maximize growth and be your sounding board to guide strategic decisions. The first step is to fill out our diagnostic form to tell us a bit about your business. Get started here.