2. Simply-Bookkeeping helps Vivian H. Phan Law Firm improve
financial back-office process and focus on business growth
The business situation
About Vivian H. Phan
In 2011, Vivian H. Phan Law realized the need for a better finance Law Firm
and administration solution. Senior Management was The Vivian H. Phan Law is
overburdened with managing general accounting tasks, dedicated to providing
bookkeeping chores and day to day financial decisions. “We would clients with superior
spend around two days a week just looking after the accounting legal services at
function” ,explained Vivian Phan the firms principle partner. “It was reasonable rates. The
preventing us from focusing on our primary goal – building the size of the firm aids in
practice and serving clients” accomplishing this goal.
While remaining small
At the same time Vivian H. Phan Law recognized the need to enough to provide
enhance its understanding of their cash flow and bank personal attention to
reconciliations but lacked the time and resources to handle this in- each case, the firm’s
house. resources and its
attorneys’ wide range of
A more structured process in place for roll-ups and reporting was expertise allow it to
another key requirement. “I like knowing the financial state of my handle complex matters
company” explained Phan. “But I don’t like to spend time of any magnitude.
managing all of the invoicing, reconciliations, recording of
expenses and so forth.”
Phan added that she needed all financial work to be completed
each Monday to enable operational plans every week.
The Simply-Bookkeeping solution
Vivian H. Phan Law found the solution they needed with Simply-
Bookkeeping. In fact, Simply-Bookkeeping has been able to meet
every one of Vivian H. Phan Law’s general accounting needs and
more. Phan was immediately impressed with the ability of Simply-
Bookkeeping’s professionals to hit the ground running.
“We took the Simply-Bookkeeping team through our step-by-step
billing approach. They were able to quickly follow our
CASE STUDY:
Vivian H. Phan Law
3. Challenge
• Limited productivity due
to paper-based
bookkeeping
• Financial distractions
hindering business growth
• Strict demands for
invoice scheduling and
invoicing and reconciliation process” said Phan. “Within a month, processes
Simply-Bookkeeping had completely turned it around. They made • Difficulties in cash
everything happen quickly and easily, and their accuracy had been management
overwhelming.” • Errors with balance sheet
reporting
Simply-Bookkeeping now helps Vivian H. Phan Law in ways that go Simply-Bookkeeping
far beyond general bookkeeping and admin tasks. Foe example, Solution
the Simply-Bookkeeping team performs thorough analysis on the • Outsourced finance
relative impact of making various decisions. They also coordinate solution including
with the company’s CPA when it comes time to add in tax issues. standardized processes, a
“Simply-Bookkeeping is fully aware of what we are trying to do scalable finance
from a tax management, perspective.” Phan stated. Application and a
a dedicated staff
Improved decision-making and great service from Simply- • Fully managed delivery
of timely and accurate
Bookkeeping
financials
• Invoicing /reconciliation
The Vivian H. Phan Law management team now spends only two processes fully
or three hours per week on finances, and that amounts to a whole transitioned to the Simply-
lot more time for client cases. “We are actually making financial, Bookkeeping team in
ROI and analysis decisions rather than managing accounts payable 30 days
processes.” said Phan “As a result we have improved cash flow and • Control over complicated
significantly improved our margins.” cash management
All these benefits for Vivian H. Phan Law are supported by Simply- Benefits
Bookkeeping’s dedication to flexible and tailored service solutions. • More time to spend on
“our Simply-Bookkeeping team works for as long as it takes to financial strategy,
resulting in:
make sure that we get financial and operational excellence.” Phan
– Increased gross margins
stated. “Their service is always spot on.”
– Increased net margins
– Improved cash flow
• Cumbersome invoice and
expense handling chores
now eliminated
• Year-round support
provided to meet Vivian H.
Phan Law needs
CASE STUDY:
Vivian H. Phan Law
4. “I now have more time
ABOUT SIMPLY-BOOKKEEPING
to make financial
Simply-Bookkeeping was founded in early 2011 with the goal of
decisions rather than
providing superior finance and administration (F&A) solutions to
managing the
start-up, small and growing companies at a reduced cost in and
accounts payable and
around the Houston and Gulf Coast region. Since then, Simply-
accounts receivable
Bookkeeping has started to grow to be recognized as the firm
process.”
Houston's professional Law practices turn to for Bookkeeping and
Accounting. They also provide the same level of service to Houston’s
- Vivian Phan
Medical Practices and High Tech companies. Simply-Bookkeeping’s
Principle Partner and
unique tailored services approach helps growing companies to
founder Vivian H. Phan
address complex finance requirements, scale finance operations
Law Firm
quickly and cost-effectively, and deliver best practices to support
strategic decision making by Law firm management teams. To learn
more, visit www.simply-bookkeeping.com
ABOUT VIVIAN H PHAN LAW
Established in 2007, Vivian H. Phan Law firm are a growing and
dynamic Houston based firm who are quickly becoming the “Go-To”
firm for Plaintiff Personal Injury litigation , together as general
council to Houston's Vietnamese community.
www.houstonarealawfirm.com
For more information
For more information about Simply-Bookkeeping,
contact us at +1 (832) 426-3845 or CASE STUDY:
info@simply-bookkeeping.com
Vivian H. Phan Law