GreySuits

Aleading accounting firm, GreySuits, strikes the chord of innovation to disrupt the traditional bookkeeping, fractional CFO, controller, and accounting administration service offerings with their innovative, one-of-a kind service delivery model. By providing senior level financial management expertise for only the time and extent needed, GreySuits helps businesses to improve decision-making and their bottom lines at a fraction of the cost of full-time resources.

Prior to 2017, the GreySuits team was exclusively focused on offering bookkeeping services until they discovered a gap in the market. Greysuits noticed that clients typically engaging a fractional CFO or controller, often receive the services of single individual at a single hourly rate, when their needs span a range of services that would attract mixed hourly rates.

To bridge this gap, GreySuits structures their client engagements to offer clients a team of seasoned bookkeeping, accounting and finance professionals, supervised and supported by the necessary senior resources (Controllers or CFOs) required to carry out the client’s finance and accounting tasks. GreySuits’ comprehensive range of bookkeeping, controller and fractional CFO services allows their clients to mix and match the services offerings to best meet their requirements.

For instance, if clients have in-house bookkeeping staff and a controller, GreySuits can provide them with an expert fractional CFO to support their reporting and decision-making. In some cases, GreySuits is asked to take over the client’s entire accounting department and manage all the related functions – from CFO down to entry-level bookkeeping and everything in between.

“What really places us ahead of the competition is our flexible full-service offering. We don't provide our clients with a single professional but rather a team of experts to help them throughout the value chain,” says Rodney Davis, partner and practice leader at GreySuits.
Following a systematic approach to delivering their services, GreySuits meets with clients to understand their needs and conducts a full-scale assessment of their financial accounting environment through a comprehensive review of their books. They check general ledger transactions to identify volumes of cash receipt postings, vendor invoices, disbursements and general journal entries to get a clear picture of the complexity of their accounting environment.

GreySuits then outlines the necessary scope of work in a comprehensive and easy-to follow proposal. The proposal not only details their suggested services, it also provides clients with insights into their existing accounting environment, opportunities for process improvements and strategies and tactics to resolve them.

Working in tandem with clients, GreySuits helps them automate their processes, monitor accounting operations and ensures financial records are accurate and up-to-date. Their experts are adept at streamlining workflows by updating tasks and reviewing them upon completion. In one instance, GreySuits helped a client that was looking for ways to improve the efficiency of their accounting operations. Their VP Finance was struggling with change management and often failed to meet reporting timelines, attributing this challenge to a resource crunch.

GreySuits stepped in to resolve the issues in their accounting system and improve their overall financial health by delivering the right services. It provided the client with a director to replace their VP of finance to effectively manage their finance department. Eventually, the GreySuits team took total responsibility for the client's financial accounting function. As a result, the client had their tasks completed faster, received improved reporting, and ultimately reduced costs. GreySuits is often their clients’ voice and support to solve a variety of issues, be it in governance, accounting, public markets, or banking.

“With customer-centricity at the core, we value clients’ feedback on our deliverables and accordingly help them to chart the future direction,” says Malcolm Eade, partner and COO of GreySuits.

Working hand-in-hand with clients and consistently defining, refining, and supporting what makes their company profitable, GreySuits offers a solid framework for continued success.