Topic: General Posts

Subject: Accounting System, Payroll Service Provider and Insurance Broker Recommendations
Kevin McGrath
Member: 2010
Posts:15
Submitted on 01-30-16 12:45 pm
Message:

 


I recently became CFO for a mid-sized (~$40M revenue) healthcare recruiting & IT consulting company headquartered in NJ with multiple locations in USA and overseas. There are many areas needing improvement including: Accounting System, Payroll Service Provider and Risk Management


 




  1. Accounting system.  Currently using QB.  Need to upgrade to a more robust mid tiered accounting system. Any recommendations from those working at companies providing services,) would be appreciated.


     




  2. Payroll system.   Currently using ADP.  Very expensive; customer service lacking.  Considering a move to either Gusto or Heartland Ovation.  Any payroll service provider recommendation would be appreciated.  ~ 600 employees in multiple locations in USA.


     




  3. Risk Management.  Any recommendations for a top quality insurance broker in the NY tristate area would be appreciated.


     


    Thanks,


     


    Kevin




 

 
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Replies
Sal Tirabassi
Member: 2016
Posts: 2

Subject: Re:Accounting System, Payroll Service Provider and Insurance Broker Recommendations

Submitted on 02-03-16 6:06 am.
Message:

I just handled a bunch of these projects in my first year as CFO for a similar sized company.


We moved off of QB to Microsoft NAV. This is a full ERP but worked well for us because we have 6 subsidiaries and NAV has certain features that make consolidations easy. NAV also allows integration of our CRM for sales and CRM for customer service and product delivery. THis alllows us to automate a few things in the accounting system. 


NAV has basic reporting functionality. For reporting we purchased Inetsoft, which is a combination of Tableau and Crystal Reports. Excellent for live dashboards and producing financial reports. Through our one integrated system all departments get KPIs out of NAV through Inetsoft.


ADP sucks. There are no two ways about it. I have not gotten far enough to move off it. The customer service is so bad I find it offensive. I plan to make a move later this year. Check out Namely.


As for insurance broker we started using Lockton out of Philadelphia. Excellent service. I formed a captive insurance company through eRisk Strategies and they recommended Lockton. Our insurance program provides a great tax shield to shareholders with low premiums because we insure high deductibles and uncoverable risks through the captive.


 


 

 
Kevin McGrath
Member: 2010
Posts: 15

Subject: Re:Accounting System, Payroll Service Provider and Insurance Broker Recommendations

Submitted on 02-03-16 7:18 am.
Message:

Sal,


Thanks for your insights.  Much appreciated.


Kevin

 
Catherine Lassi
Member: 2009
Posts: 1

Subject: Re:Accounting System, Payroll Service Provider and Insurance Broker Recommendations

Submitted on 02-04-16 6:21 pm.
Message:

Hi Kevin, 


 


I worked for a long time with Nathan Unger at ICA Risk Management Consultants icarisk.com.  He helps you shop multiple brokers so you know you are getting the best coverage at teh best price. 

 
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