Background
Businesses benefit from having key professional relationships with investment bankers, lenders, and attorneys.
With deep industry knowledge and an expansive professional network, MGO provides a strategic advantage to businesses navigating challenges and seizing opportunities — delivering value far beyond traditional tax and accounting services.
Challenge
An apparel distributor with $100 million in annual revenue approached MGO because they faced significant operational challenges. The business struggled to optimize its financial position without the right processes or relationships. Its factoring agreements were too costly, duties processes were inefficient and at risk for audits, and they lacked key relationships with professionals such as investment bankers, bookkeepers, and attorneys. Without these critical partnerships, the company could not grow or make long-term strategic decisions.
Approach
MGO took a holistic approach to serving the client and identified areas where the business could improve — including factoring agreements and duties management.
MGO connected the client with a new factor, successfully renegotiating contracts to reduce interest rates and improve cash flow, and a duties attorney, confirming the correct calculation of duties and minimizing the risk of a costly audit. Recognizing the importance of long-term planning, MGO also introduced the client to investment bankers to provide strategic advice on the potential sale of the business. While the owner ultimately decided not to sell, they now had the resources to make an informed decision.
Value to Client
Working with MGO, the company enhanced operational efficiency, reduced financial risks, and improved its overall financial health. The company saw immediate cost savings from the renegotiated factoring contracts and reduced its exposure to duties audits. With the right professionals in place — from bookkeepers to bankers to attorneys — the company could focus on core business operations, confident that its financial and legal foundations were solid. MGO delivered value beyond accounting and tax, helping to transform the client’s business operations and position them for continued growth.
Your Trusted Business Advisor
MGO’s Client Accounting Solutions professionals have decades of experience helping clients lower costs, make more informed decisions, and improve overall performance.
Contact MGO today to learn how we can help you establish strategic relationships to streamline operations and achieve greater financial stability.