The swift transition from retail to online shopping has fueled e-commerce’s rapid boom. When you lead a high-growth e-commerce company, managing your financials is not as easy as buying a product with a single click from your phone. Compass East offers the expert support you need with e-commerce financial services.
How We Approach E-Commerce Financial Planning
At Compass East, we’re more than accountants. We use a bottom-up process to develop a sound financial infrastructure your company can rely on as it grows. This holistic approach recognizes the need to scale, and it works with your company’s unique requirements.
When working with e-commerce clients, we focus on:
- Integrating an advanced cloud-based technology stack: We can introduce process efficiency where your business needs it most with our cloud platforms. Enjoy automation in data collection and integrity that scales with you as your e-commerce operation expands.
- Establishing inventory management solutions: In e-commerce, managing your inventory can be a significant challenge, especially when you have high-volume sales. While we won’t handle inventory directly, we’ll implement inventory management software, establish processes and reconcile your inventory and books to ensure your records match what’s physically available. Our reconciliation services work with systems integration to provide an organized approach for tracking inventory.
- Aligning Chart of Accounts with key performance indicators (KPIs): We can gain actionable financial insights about your business with metrics like reorder rates, customer acquisition costs, lifetime value and conversion rate. You can reference these metrics when you develop growth initiatives to deliver the best possible results.
E-commerce is at the forefront of modern business, and operations in this industry need to be ready for significant growth. Compass East’s comprehensive strategy can prepare you for expansion.
Our E-Commerce Accounting and Financial Services
As an e-commerce financial advisor, we focus on addressing your pain points in the e-commerce space. Once we’ve integrated a complete technology ecosystem into your workflow, our financial experts and accountants provide ecommerce financial services and accounting solutions such as:
- Advanced e-commerce bookkeeping
- Cash flow management
- Payroll solutions
- Accounts Receivable/Accounts Payable (AR/AP) management
- KPI development and dashboard management
- Financial statement prep
- Financial modeling and projections
- Sales tax management
At Compass East, our professionals partner with your team to develop effective and sustainable financial practices. While you focus on your products, customers and operational efficiency, we deliver e-commerce financial planning services to help your business grow. Count on us for financial reports, forecasting, KPI dashboards and more.
Why Outsource Your E-Commerce Financial Strategy
When you run a high-growth business, managing your finances in-house can be challenging and expensive. Outsourcing these e-commerce accounting and financial services provides the specialized skills required without a developed department and designated employees.
At Compass East, we’ve spent years developing our financial services for rapidly growing businesses, and we have far-reaching experience with e-commerce clients. Working with us means partnering with an industry expert that can approach your changing needs with professionalism and scalability.
With the Compass East team, your e-commerce finance services are:
- Cost-effective: Building an in-house accounting department comes with several expenses. While you need to cover payroll for a chief financial officer (CFO) and supporting accountants, you also have to fund benefits, training costs and equipment expenses. Our outsourced accounting employs the services of these departmental roles at a fraction of the cost. We cover your financial bases, so you can skip the payroll costs and office expenses.
- Supported by experts: Our team consists of financial professionals from various backgrounds, allowing us to help your company in the areas you need most. With CFOs, Certified Public Accountants (CPAs), Controllers, analysts and other professionals, we can develop an e-commerce financial strategy that prepares your company for its high-growth future. We’ve worked with many company types, including private equity and self-funded enterprises.
- Insight-driven: Our approach sets us apart from other e-commerce financial consultants. We do more than fix general bookkeeping concerns. We start with foundational aspects of your business and build up a reliable platform for long-term use. With our technology stack, financial forecasting and KPI dashboards, we can establish processes that your company can use as it grows. Our techniques can develop powerful data in areas you may never think to analyze.
E-commerce is more common than ever, and it comes with immense financial demands that require expert support. When you want to optimize your company with insightful financial data, you need professionals who understand the industry.
Our team members understand the nuances of e-commerce financial strategy, and they’re able to clean up bookkeeping, gather valuable insights and drive your business’s growth. If you’re looking for a partner in long-term success, Compass East is the way to go.
The Advantages of Compass East
It’s easy to fall behind on financial processes when your e-commerce operation is growing rapidly. You might be behind on books or processing numbers on outdated software. You run a high-level business, and you need your financial strategy to reflect that.
At Compass East, we do more than handle your finances — we redesign them. We recognize your existing inefficiencies, introduce advanced technologies and generate actionable insights. We’ve worked with a range of clients in the e-commerce industry, and we’re familiar with both private and venture-backed operations.
One of your biggest challenges as an e-commerce business is keeping up with inventory demands. Our cloud-based infrastructure and reconciliation keep you informed and organized. We also specialize in sales tax management, which has become increasingly complex in e-commerce.
Financial needs can range from basic bookkeeping to modeling and projecting. Our team includes CFOs, CPAs and other professionals to address your financial requirements, regardless of their complexity. Finances are rarely straightforward, but we’re here to create the ease you’ve been looking for. With Compass East, you can relieve yourself of the financial details and focus on high-growth initiatives.