Building the Foundation for a Data-Driven Future with Financial Clarity at Brandwell
Background
Brandwell is a rapidly growing promotional goods distributor, specializing in serving the world’s best brands with creative promotional product solutions. Initially functioning as a middleman, the company has evolved to manage inventory and internal operations using QuickBooks Online (QBO) and systems like CommonSKU and Salesforce. With growth accelerating, Brandwell engaged Fourlane to help align its financial infrastructure with long-term strategic goals.
Challenges Identified
- Lack of Structured Financial Reporting: Brandwell relied on internal, owner-generated metrics rather than industry-standard financial reports. There was no formal budget, and financial reporting was ad hoc.
- Operational Complexity Without Integration: Systems like CommonSKU and Salesforce were not integrated with QBO, leading to data gaps between purchase orders, sales orders, inventory, and financial tracking.
- Cash Flow Strain Despite Sales Growth: Although accounts receivable had grown in line with sales, a delay between purchasing inventory and client billing created cash flow pressure. Merchant fees, lease payments, and taxes further complicated forecasting.
- Inconsistent Accounting Practices: Clearing accounts showed residual balances, payroll liabilities were misclassified, and credit card reconciliations were incomplete or delayed.
- High SG&A Costs: Brandwell faced high overhead costs per customer, largely due to how payroll and other SG&A expenses were categorized.
Solutions & Strategies Implemented
Formalized Financial Infrastructure: Fourlane recommended structured monthly financial packages and budget vs. actuals reporting and completed the following:
- Developed and refined a 13-week cash flow forecast
- Reconciled bank accounts and credit cards, including sub-accounts
- Cleaned up misclassified transactions
- Standardized payroll cost tracking and categorization
Implemented Scorecards and KPIs: Brandwell and Fourlane co-developed weekly scorecards for the executive team to enhance performance visibility, including:
- New and shipped sales orders
- Sales orders in production
- Revenue per square foot of warehouse space
- Overhead per customer
Cost Optimization & Forecasting: Through fixed vs. variable cost analysis, Fourlane identified:
- Fixed costs of 21% of revenue
- Opportunities to reclassify certain payroll and lease expenses into COGS
- A need to better forecast large cash outflows (e.g., tax bill)
- 39-week historical trend analysis to improve merchant fee negotiations
System Upgrade: Recognizing the limitations of QBO Plus, Brandwell tested QBO Advanced and invested in the upgrade to leverage:
- Project tracking for warehouse builds
- Contractor time tracking
- Advanced budgeting and workflow features
Results & Impact
- Increased Financial Visibility: Regular cash flow forecasts and weekly scorecards are now informing leadership decisions.
- Optimized Cost Management: Identified and began addressing inefficiencies in overhead allocation and cost reporting.
- System Modernization: Transition to QBO Advanced reflects a proactive shift toward better operational integration.
- Executive Alignment: Key financial metrics are creating alignment across Brandwell’s growing team.
“Really grateful for your time and for helping us build a stronger financial reporting foundation at Brandwell. I truly appreciated your educational approach—it’s been invaluable. Thanks too for sharing so many helpful resources along the way. I’ve learned so much and will definitely reach out if I have any questions.” – Julie Temple, Director of Financial and People Operations | Brandwell
Conclusion
Brandwell’s collaboration with Fourlane exemplifies how tailored financial consulting, strategic system upgrades, and a strong operational framework can transform a scaling business. Through hands-on support, Brandwell is not only meeting today’s challenges but also building the foundation for a more resilient and data-driven future.
Fourlane Is Here To Help
If you’re looking for powerful solutions to your business’ needs, reach out to us by email, or call us at 1-800-931-2120. We’d love to help you navigate any challenges and grow your business.
Brandwell
Brandwell specializes in serving businesses and organizations of all sizes with unique branded product ideas to suit their marketing and employee recognition needs.
Industry
Promotional Products Industry
Location
Aliso Viejo, CA
Software / Solution
