BH Financial™ Case Study
Dedicated Resource Program Offers Strategic Resourcing for Operational Continuity During Companywide Restructuring
Challenge
Our client, a cutting-edge clinical-stage biotechnology company, underwent a significant companywide restructuring following challenges from a floundering clinical trial. Among the consequences was a downsizing within their accounting department, leaving critical roles unfilled. To compound those challenges, an accounting team member submitted their resignation, intensifying the staffing shortage. Faced with the pivotal need for continuity and mindful of the ongoing clinical trial, our client sought a solution to bridge the gap effectively.
Solution
Understanding the criticality of the situation, Beacon Hill Financial collaborated with our client’s leadership to identify a solution. Instead of opting for a permanent hire to replace the departing team member, the idea of bringing in an accounting contractor with a specialized blend of payroll and accounts payable (A/P) experience emerged as a strategic choice.
Given the urgency and the unique skill set required, we recommended our client tap into our dedicated resource program, which offers flexibility in deploying a professional with the specific expertise needed for the role. This program attracts excellent candidates by paying them holidays and offering incentives not typically available in our industry.
Recognizing the merit of this approach, our client embraced the suggestion, and we promptly initiated the process of identifying a suitable resource.
After a meticulous selection process, a dedicated resource with a comprehensive skill set encompassing payroll and A/P experience was identified. Our dedicated resource was strategically placed within the accounting team, ready to contribute to the organization’s financial operations during the critical period leading up to the results of the next clinical trial.
Achievements
The deployment of our dedicated resource provided our client with a tailored solution that ensured the continuity and efficiency of their accounting operations. Our dedicated resource addressed the immediate staffing shortage and showcased our program’s adaptability and effectiveness in delivering timely and impactful solutions in the face of complex business dynamics.
