Case Study: ModSquad

About ModSquad

Founded in 2007, ModSquad has been on a torrid growth path. The company is bucking the trend of traditional customer support. Their “movement” is to lighten the load of digital engagement for global brands like the NFL, NBC, Sony Online Entertainment, Warner Bros., Zendesk, and even the State Department. With operation centers in Northern California and Northern Ireland and offices in San Francisco, London and New York, ModSquad’s 10,000+ Mods around the world moderate content, chat with customers, manage communities and buzz in social media 24/7/365, in 50+ languages and dialects.

Challenges

Given the company’s growth, back in 2014, ModSquad found that its current accounting solution could no longer meet its needs and was leading to a lot of manual effort:

• Billing worksheets took account managers many hours to complete each month
• Invoices were often delayed
• Financial and management reporting was not published in the cloud or visible in a timely manner
• With the addition of an operations center and subsidiary in Northern Ireland, global consolidation requirements created a real burden for the accounting team

Integration between accounting systems and others (e.g. CRM and Labor Tracking) was virtually impossible.

Solution

ModSquad’s Senior Director of Finance and Accounting, David Wohlwend, made it his personal mission to put in place the infrastructure to improve days sales outstanding, deliver more timely financial analysis (particularly around customer and project profitability) and ensure scalability to handle the company’s aggressive growth plans. After a rigorous evaluation, Sage Intacct and AcctTwo were the clear answer.

Results

Before using Sage Intacct, invoices were created one by one from manually-prepared billing worksheets. The invoices were then circulated via email for review and often required changes. With Sage Intacct, ModSquad has seen meaningful benefits:

• Mods’ billable hours are tracked and recorded with greater precision
• Invoice cycle has been reduced by one third the time
• Integration with Salesforce streamlines project set-up
• Customer and project profitability reports are completely automated and available to every stakeholder

And on the scalability front, ModSquad has grown significantly since selecting Sage Intacct without the need to add a single accounting headcount.

Note: This case study was originally posted as Leap the Pond, Leap the Pond was acquired by AcctTwo in December 2018.