Who Is Richtr?
Q: Why does Richtr talk so much about the technology?
A: How we interface with finances is changing dramatically. The ability for technology to augment our expertise and your business is astounding. Leveraging new tools and designing best practices around those tools is at our core. We believe that effectively implemented technology will have a transformative effect on your business.
Q: Isn't Richtr just an outsourced bookkeeping or accounting firm?
A: By positioning ourselves at the nexus of technology and expertise, we move beyond the capabilities of most bookkeeping and accounting firms. Although we do accounting and bookkeeping, our focus is squarely on using information and systems to drive future business decisions and growth. Essentially, we seek to redefine what your finance department can contribute.
Q: Will Richtr prepare my tax return?
A: We don't prepare income taxes. However, we do address all other areas of compliance--from payroll to personal property tax. Additionally, because our team has an intimate knowledge of your company, we often spot tax opportunities that would otherwise be missed. This has led to millions of dollars in tax savings for our clients. We also work closely with your tax provider on planning and ensuring that they receive accurate and timely information--which allows them to focus on what they do best. By focusing on delivering accurate, timely, financial accounting it allows your tax CPA to focus on what they do best.
How does Richtr work and with whom?
Q: How does Richtr compliment my in-house bookkeeper or CFO
A: Richtr has the expertise, professional connections, and depth to transform companies.. Our industry specialization in tech, life science, and creative based companies and our deep roots in the start-up and broader business community provide us a collective level of expertise that any one person cannot match. Whether you're seeking the right fit for your tax or banking needs, or looking for a better revenue software platform, we have an in-house expert.
Additionally, we often collaborate with clients' in-house accountant, controller or CFO. The Richtr approach seeks to put the right people in the right position, at the right level, to facilitate your goals. When everyone is in the right position we can truly unleash their potential.
Q: Is Richtr too big or expensive for my start-up or small business?
A: We work with companies at all stages. The key is crafting services that address the right areas, at the right level of expertise, for each stage. When a company has a very limited budget, for instance, we often seek to address the most critical items. At the same time, we plug in higher level oversight so that we are ready to add additional financial or strategic expertise to catalyze growth.
Q: My company has a controller, what can Richtr do for me that my controller can't?
A: Richtr has the expertise, professional connections, and depth to perform projects that many controllers can't. Our industry specialization and deep roots in the start-up and broader business community provide us a collective level of expertise that any one person cannot match. Whether you're seeking the right fit for your tax or banking needs, or looking for a better revenue software platform, we have an in-house expert.
Additionally, we often collaborate with clients' in-house accountant, controller or CFO. The Richtr approach seeks to put the right people in the right position, at the right level, to facilitate your goals.
Q: My company is big enough to afford to bring accounting in house; why should I go with Richtr?
A: By hiring an in-house accountant, you may be foregoing the benefits of the tiered staffing approach. For instance, you may hire a CFO who will end up merely paying bills and opening mail, effectively resulting in your firm paying a premium price for these services. Or, you may end up working with a bookkeeper unable to identify business opportunities that would take the company to a higher level. By working with Richtr you gain access to a full staff of trained professionals with expertise in a wide range of business and financial areas. By fractionally putting the right person in the right role you’re maximizing your return on investment.
Additionally, during the recruiting process, it can be extremely difficult for a non-accountant to assess the skills of a potential finance hire. The CPA credentials are a good start in the assessment process, but they don't always translate to the right skill set. The wrong hire can lead to lost profits that far exceed their salary.
Why is financial strategy important?
Q: Accounting doesn't make me money, why would I want to invest in it?
A: Historically focused accounting and bookkeeping usually doesn't make you money. However, financial strategy, coupled with good key performance indicators, can drive operational efficiencies and spot revenue opportunities or tax savings. For many of our clients, just the tax savings that we identify alone pay for their investment in Richtr. Similarly, the technology and operational processes that we implement often allow our clients to forego adding overhead as they grow--while delivering a better user experience.
Q: Can't I just write checks, make deposits and file taxes?
A: You can do barebones bookkeeping and tax prep, but limited information, insight and infrastructure often place constraints on your growth. We help you see around corners and identify issues and opportunities that you may not have known existed.