The Power of the Team: The Undeniable Benefits of an Outsourced Accounting Partner

Industry: Software-as-a-Service (SaaS)

Engagement Type: Accounting support and advisory services.

Client Performance: Transformation from a new enterprise to a well-managed and profitable company, achieved through an array of value-added accounting/finance services and advisory support.

About Votenet: Votenet Solutions, Inc. DBA eBallot, (Votenet) is a leading online voting platform that allows its users to run secure elections and achieve instant, trustworthy voting results. Votenet serves a wide variety of clients worldwide, from membership associations to corporations, universities, unions, professional societies, and others.

From Dot Com Conglomerate to Independent Entity in Growth Mode
Votenet first became a client of The McKelvey Group (TMG) in 2007. At the time Votenet was in need of CFO-level accounting support and assistance with the establishment of daily operational functions. Votenet’s leadership team was evolving as the company emerged from a larger conglomerate of organizations originally purchased by the owner during the .com boom of the 1990s. The larger group of companies dissolved, and several of the initial companies were sold. Votenet was left as an independent entity to succeed and grow on its own. Now smaller, they no longer needed the more complex financial management structure that was in place. A new management team was appointed, and with no dedicated in-house accounting team at the time, Votenet searched for an outsourced partner. They selected TMG to leverage its expertise to review the company books, and offer high-level insight into pricing of products, compensation structures, and other related functions necessary for the company to set itself on the path to growth.

Implementation of a Dedicated Outsourced Team and Strategic Advisory Services
TMG provided Votenet with a dedicated team to specifically address its challenges and future goals. This team hit the ground running to assist Votenet with key operational tasks, including bookkeeping, invoicing, and payroll processing. In their advisory role, TMG helped steer the company from costly, time and resource-consuming research and development efforts to focus on growing its online voting business and achieving a cash-positive position.

As Votenet’s online voting business grew and evolved, the company shifted to bring on an in-house full-time accounting resource, moving from the team support offered by TMG to a single staff member. Later, as the workload grew, Votenet’s leadership team realized the immense value it could generate from the power of a team, and decided to bring TMG back on-board.

When the relationship resumed between TMG and Votenet, TMG provided continued accounting support, and took on an expanded role to deliver CFO support, financial analysis, and data mining services.

Measurable Benefits, Lasting ROI – Benefits of an Outsourced Partner
In addition to the value of the team that TMG brings, Votenet continues to generate measurable return-on-investment from the depth TMG provides in both the accounting and finance sides of the business.

  • The Power of the Team – TMG delivered a dedicated team composed to address Votenet’s specific goals, who had a breadth and depth in specific areas of the accounting, operations, and advisory services to meet its needs – efficiently and effectively.
  • Scalability – TMG’s continued position as an outsourced partner allows Votenet to expand and contract its support requirements from TMG as its workload and needs grow and evolve over time.
  • Advisory Leadership to Achieve Growth Goals – TMG’s advisory helped Votenet grow from an early-stage entity to a profitable position, which enabled expansion into new opportunities and growth areas.

As its partnership with TMG continues to evolve, Votenet is primed to achieve even greater growth and success in the years ahead.

“For more than a decade, TMG has been by our side as a trusted partner and expert. The growth-enabling advisory expertise, comprehensive accounting support, and knowledge their team delivered were critical drivers of our quick success. With accounting no longer a daily concern, our leadership team can focus on our company growth goals, and fully leave the accounting to TMG!”
-Steven Castellano, Vice President, Votenet DBA eBallot

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