Client background
The client is the U.S. subsidiary of an international life sciences company that develops scientific instruments for pharmaceutical companies, biotechnology organizations, and research institutions. As the subsidiary expanded its U.S. operations, it needed a back-office structure capable of supporting continued growth while meeting the financial reporting requirements of its parent company.
Client need and business challenge
Despite its growth, the U.S. subsidiary did not have dedicated internal finance resources. Leadership wanted a single provider that could coordinate several essential back-office functions rather than managing separate accounting, HR, payroll, and tax providers.
The company needed support establishing reliable day-to-day accounting processes, strengthening its month-end close and addressing U.S. tax considerations. The operating model also needed to be scalable so the organization could continue growing without immediately building a full internal finance function.
The lack of dedicated finance resources created operational and reporting challenges for the U.S. subsidiary. The company needed consistent accounting procedures and a structured close process to produce accurate financial information for its international parent company.
At the same time, the subsidiary had to manage HR and payroll requirements and U.S. tax obligations. Without a coordinated back-office model, these responsibilities could become fragmented as the organization grew.
Baker Tilly solution
Baker Tilly quickly deployed a blended team of accounting, HR and payroll, and tax professionals. The team worked with company leadership to enhance existing processes and procedures, establish day-to-day accounting workflows, and develop a structured month-end close process.
Baker Tilly also provided guidance concerning U.S. tax implications and introduced proactive tax-planning strategies. Bringing these capabilities together within one managed services relationship gave the subsidiary coordinated access to professionals across several business functions.
The approach was designed to provide immediate operational support while creating processes that could accommodate the company’s continued U.S. growth.
Results achieved
Baker Tilly established day-to-day accounting processes and a structured month-end close that facilitated the delivery of accurate financial information to the client’s international parent company.
The coordinated engagement also provided HR and payroll support and proactive U.S. tax planning. Together, these services created a more dependable and scalable back-office foundation for the subsidiary.
The available information does not include verified numerical measures of improvement. Accordingly, the results are presented qualitatively and should not be supplemented with estimated savings, percentages, or performance metrics.
Growing life sciences organizations need back-office capabilities that can keep pace with operational and commercial expansion. Baker Tilly Managed Services brings accounting, HR, payroll, and tax professionals together to help organizations establish dependable processes, improve coordination, and prepare their operations for continued growth.
Interested in learning more? Connect with a Baker Tilly specialist.
