Finance
Accelerating Financial Clarity and Compliance at MedMe
From standing up finance infrastructure to fundraising and M&A
Introduction
MedMe’s platform delivers pharmacies with clinical services at scale. MedMe transitioned their Accounting (Bookkeeping and Controller) function to BrightIron. Within a few months of beginning our working relationship, BrightIron was able to provide structure to the company’s finance function and produce financial statements on a timely basis.
The Challenge
Medme faced the challenge of establishing robust financial processes to support their growth, requiring a transition to full accrual accounting and enhanced financial transparency. They needed an efficient financial system, accurate revenue recognition practices, and timely month-end financial reporting.
Additionally, clear and insightful Board and investor reporting, proactive financial insights, and reliable tax filing support were critical areas needing attention.
Our Solutions
BrightIron implemented QuickBooks Online with a customized chart of accounts, significantly increasing Medme’s financial transparency and decision-making capabilities. Our team expertly transitioned the company to full accrual accounting, performing a comprehensive review of historical revenue recognition and deferred revenue practices to ensure accuracy and compliance.
We meticulously handled the entry of all financial transactions, establishing streamlined processes and automation that dramatically improved the timeliness of financial statements, reducing the month-end close timeline by over 60%.
BrightIron assisted in preparing clear, insightful Board and investor reporting, providing stakeholders with reliable financial data and analyses. Through regular meetings, we delivered proactive financial insights and actionable recommendations to support strategic decision-making. Finally, our team supported Medme’s tax filings, ensuring accuracy, compliance, and peace of mind.
