Sommets Forest Services Inc.

Summary

I was working with a recognized regional CPA firm, but I was paying too much for an hourly service and my bookkeeping was poorly done.
When I discovered Théörème, I appreciated their fixed monthly rate, which was more advantageous and without surprises, as well as the direct access to an experienced CPA.
From the start, the team corrected mistakes, simplified processes, and established fast, user-friendly communication.
Thanks to their support, my business is profitable again, our working capital is positive and I can plan for the future with confidence.
The stress has lessened and I can now focus my energy on business development and operations.

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‍What was your situation and your problem before using Théörème's services?

I was working with a well-known full-service regional CPA firm. I paid a lot for the service, the work was done at an hourly rate and my bookkeeping was really not well done and I could see it.

Plus, I was doing way too much work in the whole process. I did my research and found Théörème who did not work at an hourly rate but at a fixed monthly rate, so without risks and without surprises. Their monthly rate was much cheaper than what I was already paying and in addition, I saw that the quality of the service was superior to what I had with the other firm since I was working directly with an experienced CPA. Plus, I had a lot less work to do and everything was clear and simple.

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How did the performance and the relationship with Théörème take place?

From the start, I could notice that everything would be much simpler, faster and more user-friendly. Théörème's team quickly took care of correcting the numerous errors left by the other firm. The catch up was very effective, the start-up meetings were very productive, at a good pace and with a structured approach. We were quickly able to regain control and start again on a good foundation. Today, communication is still easy, replies to our emails usually arrive the same day or the next morning at the latest. You can also easily and quickly schedule meetings when the need arises.

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‍What were the results, quantified if possible, and the impact on you and your business?

We are in the field of forest engineering and forest management and we have a lot of specialized equipment on the balance sheet. Before starting with Théörème, the company was not profitable and because of the lease payments on our equipment, our working capital was negative. Since we had no reliable financial information available, it was impossible for us to plan what to do next and to make action plans.

Shortly after Théörème took matters into our own hands, with their help, we were able to better understand our working capital needs, take mitigation measures and stabilize our working capital until we could increase our work volumes.

This year we passed our breakeven point, the business is profitable, our working capital is positive and we can now plan for the future with clarity and optimism. The stress level has gone down and I can devote all my time to business development and operations.

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‍Who would you recommend Théörème's services to?

Any entrepreneur who works alone or who has a business and employees must have a reliable accounting system in accordance with accounting and fiscal rules on which he can rely to assess his performance and plan and set short and medium term goals and meet his obligations.

The advantage of working with a firm like Théörème, which masters QuickBooks and is managed by a CPA, is to have a corporate finance manager in real time, on a fractional basis and always available when you need him. It gives us access to professional resources on an ongoing basis without having to add additional burdens on the organization. It is also an excellent source of advice since these professionals know our challenges well, have a lot of experience and are always up to date with developments in our industries.

In addition, we must not forget the importance of ensuring that our accounting and financial information is compliant, reliable and meets our obligations in terms of taxes, deductions at source and all other and numerous fiscal, legal and regulatory obligations.