Health Tech Company Growth Through Accounting Outsourcing

This case study outlines the challenges faced by a health tech startup during its transition into a high-growth phase. The company aimed to improve patient care and accelerate clinical research using clinical data. As the chief financial officer (CFO) planned to expand the finance organization to support a doubling of headcount within a year, the resignation of the controller created a significant talent gap. To address this, the CFO engaged Armanino for outsourced interim controller services to ensure continuity in accounting and payroll functions. The Armanino team successfully managed the transition, implemented a cloud-based billing system, and refined processes to enhance financial operations. After eight months, the company hired a new vice president controller, with Armanino assisting in the transition and preparing for future audits. The CFO emphasized the benefits of having a team approach over an individual contractor, highlighting the flexibility, resources, and financial controls provided by Armanino.