ADDISON BIOLOGICAL LABORATORY

The Situation

When Bruce’s business partners sold their company that was handling all the day to day accounting for Addison, Bruce had to decide how to best to handle functions such as: customer invoicing, accounts payable, payroll & employee benefits, financial statement preparation, and financial oversight for their growing company.

The Solution

Fulling focused on:

• Implementing an efficient & effective accounting process to take care of the daily accounting needs
• Leveraging appropriate functions to current Addison staff
• Accountability & focus for owner
• Sales management team assistance
• Business and  contract negotiations
• IT management support
• Succession planning and implementation
• Listening & responding to other areas of need in the business.

The Results

With checks and balances in place, Fulling manages the accounts payable, payroll, financial statement preparation, 401K, legal correspondence, insurance analysis, owner accountability, and more. Addison is able to take advantage of services typically performed by a full time bookkeeper, accountant and CFO but at about 75% of the cost.  Fulling is an integral part of the management team in focusing on strategic growth and succession planning.

Testimonial

“Fulling Management literally functions as the CFO of Addison Biological Laboratory. Fulling is beyond just the numbers they are well rounded in every aspect of business. Their recommendations are well thought out and based on solid, critical thinking and knowledge.  They can be critical of a situation in a positive, constructive way, and I am never offended by it; instead, I am grateful for their perspective and objectivity. If you want to boil it down, what I look for are people with character and integrity. I don’t care how smart they are, if you can’t trust them, I don’t want to work with them. Fulling’s character is above reproach.  They are top of the list.” — Bruce Addison, President, Addison Biological Laboratory, Inc.