Founded in 2013 by Chris Kirby, Ithaca Hummus is now the fastest growing hummus brand in the United States. In just five years, the company went from hundreds of thousands to tens of millions in sales. Ever since they debuted their original lemon garlic hummus at the Ithaca Farmers Market, their mission has been to introduce America to its new favorite brand of hummus.
Frank Cavallaro, Chief Operating Officer of Ithaca Hummus, started with the company in 2017. At the time of his introduction, Frank was an employee at state-of-the-art co-packer, LiDestri Food and Drink in Rochester, New York (NY). Chris, who was making hummus in a small factory in Ithaca, NY, came to LiDestri looking for a co-packer to produce his products. Frank began working with Chris in early 2017 to move his operation over to LiDestri.
In 2018, as Ithaca Hummus began to grow and expand their business, they started outsourcing their accounting and finance through The Bonadio Group (TBG). The Outsource Accounting & Finance model at TBG allows businesses to work with an expert finance team for high-quality, real-time financial reporting without having to hire any employees. Services range from core accounting functions to strategic consulting.
Jen Shah, Outsource Controller at TBG, shared that Ithaca Hummus was her first outsource client.
“I’ve worked with them since they came on board with us, so it’s been great to be able to grow together,” said Jen. “We have been with them through all their challenges as a new business and it’s amazing to see the changes they have made and what they’ve been able to achieve. I love working with Ithaca Hummus simply because they are great people—we’re really part of their team.”
The Benefits of Outsource Accounting & Finance
In just a short amount of time, Ithaca Hummus started to feel the benefits of the outsourcing model. “We had so much more time to focus on our business since we didn’t have to worry about many of our transactions,” said Frank. “We had no plans to hire a CFO or even have a finance department at the time. Bonadio ensured us that they could help us manage that area of the company and that’s exactly what happened.”
Without the worry of managing their finances, they were able to focus on their growth, suppliers, forecasting, and other factors that were important to their company’s success. Furthermore, this model allowed them to prepare for the future and build their team.
Cloud-Based Accounting Technology
At TBG, our outsource accounting model is powered by Sage Intacct, Inc., which is the leading cloud-based accounting solution. Gregg Genovese, Leader of the Outsource Accounting & Finance Team at TBG, shared, “we combine Sage Intacct’s technology and our expertise to deliver customized reporting solutions for clients in a variety of industries.”
Frank shared that the Outsource Accounting & Finance Team provided solutions for a number of different challenges they had come across over time including paying brokers, managing their co-packers, and more.
“The team came up with solutions and figured out ways to modify our system and accommodate what we needed over time, which has ultimately allowed us to change and grow,” said Frank. “The relationship has been exceptional and overall, it’s been a great experience.”