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OSAF: Six Years of Transformative Growth

By The Bonadio Group, on June 12th, 2024

Our Outsourced Accounting & Finance (OSAF) business unit has seen significant growth over the past six years. This expansion reflects our commitment to providing tailored financial solutions and superior client service.

Utilizing the latest cloud-based technology, our OSAF team offers customized financial reporting solutions across a variety of sectors and industries. Powered by Sage Intacct, Inc., the leading cloud-based accounting solution, we deliver comprehensive support from core accounting functions to strategic consulting. “We combine Sage Intacct’s technology and our expertise to deliver customized reporting solutions for clients in a variety of industries,” shared Gregg Genovese, Partner and Practice Leader of our OSAF business unit.

Our approach starts with understanding each client’s financial health and needs. By establishing and maintaining a customized external finance department, we ensure stability, provide cost benefits, and allow clients to focus on their core business activities. This client-centric model has proven successful across non-profits, small businesses, construction & real estate, healthcare, manufacturing & distribution, and family offices.

“Through the Bonadio Group, we have found fabulous strategic planning. The ability to work with a leader in the industry that knows finance the way that they do has really helped us as far as forecasting and helping to move the ball forward,” shared Joanne Ryan, President & CEO of RMHC of Rochester.

Under Gregg’s leadership and strategic initiative, the OSAF team has expanded in size, client base, and revenue, while simultaneously fostering a collaborative team culture.

“Our vision was to build a team that seamlessly integrated top-notch technology and automation solutions to enhance efficiency, accuracy, and client experience, positioning us as industry leaders in the outsourced accounting space on a national level,” shared Gregg. “We started with one client and one employee—today, we have over 45 employees, over 150 clients and our revenue is approximately $9.5 million,” he added.

Looking ahead, Gregg foresees his team adding additional services and product offerings, as well as adopting Artificial Intelligence (AI) tools. “Our services will continue to evolve and change at a rapid pace significantly influenced by AI, whereby historical general accounting and bookkeeping tasks will be replaced and enhanced by AI. I would envision 25% of our current hours will be transitioned to AI in the next 12-18 months,” he shared.

The growth of our OSAF business unit is a testament to Gregg’s exceptional leadership and the team’s dedication. By consistently delivering customized solutions and prioritizing client needs, we continue to help organizations achieve financial stability and success.

If you need further guidance or have any questions regarding our Outsource Accounting & Finance business unit, we are here to help. Please do not hesitate to reach out to discuss your specific situation.

This material has been prepared for general, informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Should you require any such advice, please contact us directly. The information contained herein does not create, and your review or use of the information does not constitute, an accountant-client relationship.

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The Bonadio Group
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