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Five years ago the Advertising Federation of Louisville (AdFed) found themselves in a quandary. It seems they were utilizing three different accounting resources and things were becoming fragmented not to mention expensive. Clearly they needed help getting their financial situation under control with one outsource provider. That’s when they found the answer by coming to Fiducial’s Louisville, KY, office.

“Fiducial was the perfect solution for us,” said Robin Miller, executive director of AdFed, a non-profit organization that represents Louisville’s $1 billion advertising industry. Founded in 1906, AdFed has nearly 650 members and supports the professional enhancement of all advertising and communications professionals in the Greater Louisville area.

AdFed needed a single company to take care of their payroll, in-house accounting and month-end bank reconciliation and journal entries. Miller says Fiducial fit the bill for all their requirements. “I was just amazed that they could do all of these things and they were very affordable, especially for us being a non-profit,” she said. “They provide all of these services under one roof and for about one-third of the cost of what we were paying three separate entities. Fiducial has streamlined our accounting process and they never miss a beat.”

Many companies promise outstanding customer service but few actually deliver it yet Miller says that’s not the case when it comes to Fiducial.

“Our work is done efficiently and professionally and in a way that alleviates the burden, allowing me to focus on our business and our customers,” she said. “Our account representatives are fantastic—extraordinarily knowledgeable and friendly.”

‘An extension of her office’

Among the Fiducial staff working on the AdFed account are business advisors Jennifer Leach and Christina Miles. Leach handles the financial statements while Miles serves as the daily processor.

Rebecca Daigrepont, senior business advisor in Fiducial’s Louisville office, noted that when Fiducial took on AdFed as a client the company was using separate systems for accounts receivable and accounting.

“We helped to consolidate the system, had numerous meetings and worked with them to come up with the best structure for the accounts receivable to give them reports and listings for the various levels that they track and help with listings for member mailings that they manage,” said Daigrepont. “We trained them on our system to track and post the A/R.”

As Fiducial was working to provide a smooth transition on AdFed’s three separate systems, they worked closely with Miller for a few months to organize her A/R, chart and board reports which have helped her gain a more thorough understanding of her statements.

“I would say that she definitely sees us as an extension of her office,” Daigrepont said.

According to Miller, Fiducial was there to help train her on how to make journal entries in their software. Since then, AdFed has refined the process which recently drew high marks from independent auditors who went over their books.

Software protection, data back-up

Daigrepont noted that Fiducial’s staff is very much in sync with AdFed which allows them to schedule board meetings and supply reports in a timely manner without the hassle and stress that existed in their old system.

Perhaps one of the key reasons why the AdFed feels it’s in such good accounting hands with Fiducial is because they can access any of their financial information in real-time and all data is maintained on a secure, backed-up system.

“Their system is all web-based so I feel very comfortable as a manager and steward of our funds knowing Fiducial has up-to-the-minute data and the protection of the software back-up,” Miller said. “God forbid our building should catch on fire but it’s reassuring to know that our information is safe elsewhere.”

It’s evident that the bond between AdFed and Fiducial transcends that of the average client-service provider relationship.

“I really like the fact that we have a nice partnership with them,” Miller said. “They help us come up with solutions representing our budget, our financials or if we need to create a financial line item or program. We feel that they’re not just our vendors. They are a partner in our business.”