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SUL4R-PLUS sees efficiency gains in accounts payables and accounts receivables with Dean Dorton’s AFO

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SUL4R-PLUS sees efficiency gains in accounts payables and accounts receivables with Dean Dorton’s AFO

By: Dean Dorton | September 25, 2020

CASE STUDY: SUL4R-PLUS turns to Dean Dorton's AFO team to help bridge the gap within financial management challenges and sees efficiency gains in accounts payables and accounts receivables processes.

Accounting and Financial Outsourcing | Healthcare

Based in Louisville, Kentucky, SUL4R-PLUS®, LLC (SUL4R-PLUS) develops innovative products for the agricultural market including SUL4R-PLUS® fertilizer, an in-demand granular calcium sulfate that is engineered to provide improved crop yield for growers. While synthetic gypsum has been used in agriculture applications in the past, SUL4R-PLUS®, LLC has a patented process to create granules from the byproduct, making calcium, sulfur, and micronutrient application easier for the farmer and meeting the increasing demand for sulfur by the farming industry.

Dean Dorton spoke with Peter DeQuattro, Executive Vice President at SUL4R-PLUS to explore the factors that led the business to choose Dean Dorton’s Accounting and Financial Outsourcing (AF)) and the results they are seeing now.

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The Challenge

Before turning to Dean Dorton’s accounting and financial services team, SUL4R-PLUS had a controller that was responsible for part-time processing of the company’s accounts payables (AP) and accounts receivables (AR). Everything was managed through the Microsoft Dynamics 365 Business Central accounting platform.

With limited staff time, resources and technology, SUL4R-PLUS faced the challenge of accurate insight into reporting, including balance sheets, income statements, and statements of cash flows on a monthly basis. This also affected the successful processing of accounts payables and accounts receivables, hindering visibility into critical areas needed to better understand business performance.

Additionally, with the Microsoft Dynamics 365 Business Central platform, the finance team at SUL4R-PLUS did not have sufficient insight into financial reporting of key performance indicators. Without accurate measurable metrics and actionable data, SUL4R-PLUS experienced the possible risk of incorrect financial analysis of data, patterns, and trends, making it difficult to tackle successful operational efficiencies.

Pivotal Moment

Due to a historical relationship with Dean Dorton and a continued working relationship with Dean Dorton’s tax service group, SUL4R-PLUS made the decision to also work with Dean Dorton’s AFO team.

SUL4R-PLUS assessed the overall costs associated with either continuing to do their accounting internally or choosing to outsource their services with Dean Dorton AFO. After evaluating different options, SUL4R-PLUS decided that Dean Dorton’s services were cost-effective and provided the added value that would bridge the gap of inefficiencies within their financial management processes.

Benefits of Outsourced Accounting Services

By working with Dean Dorton AFO, SUL4R-PLUS is now able to save time, money, and resources, while still having full access to their financial data. They have seen an increase in business productivity and are able to confidently make strategic decisions based on dashboards with accurate KPIs, working financial models, and precise AR and AP processing.

One of the biggest benefits the company has seen is timely and error-free financial statements, giving SUL4R-PLUS business leaders detailed, real-time insight into the company’s growth and long-term success.

SUL4R-PLUS presented our AFO team a challenge – they had already implemented and were utilizing Dynamics 365 Business Central as their accounting platform.  Without using their standard software stack, Dean Dorton’s team had to rethink how to build efficiencies and processes. Showcasing its commitment to excellence, the AFO team was able to quickly learn the ins and outs of the Dynamics 365 Business Central software and its Business Intelligence reporting module. The team continues to find other tools to manage processes that are specifically tailored to their client’s unique business needs.

Why Dean Dorton?

Dean Dorton recognizes the increase in demand for collaborative cloud-based applications for both business executives and their teams in order to provide financial data more efficiently and effectively.

Going further, faster is the goal, allowing businesses to automate their core financials and most important processes, mitigating turnover in accounting staff, ambiguous financials, inefficient processes, and constantly outgrowing systems resulting in technology upgrade costs. Through technological advancements, the Dean Dorton AFO team can be your complete back-office accounting team or fill scalable roles such as clerical back-office, controller services, and CFO advisory level depending on your organization’s needs.

“The Dean Dorton AFO group is an excellent team! Talented, professional, and responsive.”

Peter DeQuattro, Executive Vice President, SUL4R-PLUS, LLC

Learn more about Dean Dorton’s AFO Services

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