The Customer
A Denver-based private FinTech company provides a digital mortgage platform. It serves banks, credit unions, and mortgage brokers. Founded in 2015, the company supports smaller lenders. The platform manages application, closing, and secondary market workflows. Operations depend on accurate and timely financial reporting.
The finance function supports a growing mortgage technology business. Revenue flows across customers and vendors. Leadership relies on reliable financial data for planning and compliance. Receivables, payables, and ledger accuracy are critical to daily operations—processes needed to scale with continued business growth.
The Challenges
Business growth strained accounting operations. Processes were fragmented. Reporting lacked consistency. Backlogs increased across core finance functions. The audit readiness was not achievable. Automation was not viable.
Aging receivables: 40% of receivables were over 90 days past due.
Vendor disputes: 20% of vendors faced disputes or service interruptions.
Invoice issues: 35% of customer invoices were disputed or missing.
Billing inconsistencies: Contracts were inconsistently applied, leading to recurring billing errors.
Balance sheet errors: Assets and liabilities were incorrectly recorded or irrelevant.
Ledger misclassification: Journal errors affected the reliability of reporting across periods.
Unstructured close: No formal month-end process existed, reducing accuracy by 15%.
Control gaps: Weak controls increased reconciliation effort and limited audit readiness.
Process fragmentation: Workflows lack standardization across receivables and payables.
Backlog pressure: Historical backlogs increased workload strain on accounting teams.
The Solutions
Flatworld’s focus was stabilization before automation. Accuracy and control came first. Work progressed in structured phases aligned with existing systems.
Workflow assessment: Embedded review of accounting processes, systems, and bottlenecks.
Process training: Team trained in internal tools and procedures.
Contract correction: Customer contracts reviewed to fix billing logic.
AR restructuring: Receivable workflows rebuilt to manage aging and collections.
AP stabilization: Payable processes restructured to resolve delays and disputes.
Ledger cleanup: Inaccurate accounts corrected and irrelevant balances removed.
Journal correction: Entries reviewed and reclassified for reporting accuracy.
Close controls: Disciplined month-end controls were introduced to standardize timelines.
Process documentation: Core workflows documented for consistency and scalability.
Weekly reviews: AR and AP review reports implemented with stakeholders.
Cross-functional alignment: Coordination improved between sales, operations, and accounting.
Governance standards: Controls applied to enforce accountability and audit rigor.
Security compliance: Work performed within mandated remote desktop access.
CPA oversight: Dedicated accounting team ensured audit-ready execution standards.
The Result
Stabilized accounting operations produced measurable improvements. Financial data became reliable. Reporting became structured and predictable. Audit readiness was achieved.
- Collections increased: Collections improved by 30%, which strengthened the cash flow.
- AP turnaround: 40% faster processing stabilized vendor relationships.
- Billing accuracy: Accuracy improved to 99%, reducing disputes.
- Close discipline: Month-end is completed consistently by the second week.
- Ledger reliability: Classification errors were reduced significantly.
- Vendor stability: Payment consistency reduced disputes and interruptions.
- Reporting confidence: Leadership gained dependable financial visibility.
- Audit readiness: Financials became structured, documented, and audited.
- Operational clarity: Clean data for improved financial oversight.
- Automation readiness: Stable processes prepared for the foundation for future automation.
The Summary
The engagement restored accounting discipline before enabling scale. Processes were corrected and standardized. Billing errors were removed. Receivables and payables were stabilized. Month-end reporting became predictable. Financial data became reliable and audited ready. Leadership gained confidence in financial outputs. A stable foundation positioned the organization for future automation and structured growth.
Audit-ready financial operations
Improved cash flow visibility
Accurate billing and records
Controlled month-end close
Stabilized vendor relationships
Automation-ready finance foundation
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USA
Flatworld Solutions
116 Village Blvd, Suite 200, Princeton, NJ 08540
PHILIPPINES
Aeon Towers, J.P. Laurel Avenue, Bajada, Davao 8000
KSS Building, Buhangin Road Cor Olive Street, Davao City 8000
INDIA
Survey No.11, 3rd Floor, Indraprastha, Gubbi Cross, 81,
Hennur Bagalur Main Rd, Kuvempu Layout, Kothanur, Bengaluru, Karnataka 560077
