At a Glance
We helped MTM Trucking & Logistics efficiently standardize and update their financial processes, maximizing profitability and transforming their operations for sustained profitability and growth.
Key Results
41%
Increase in revenue
$100k+
Saved in annual fees
50%
Faster monthly close process
Client
Industry
transportation
“With SC&H, it’s more than just business. They’re part of our team, they care about our success. It’s a good feeling.”
Judy Santiago
Owner, MTM Trucking
Client Challenges
Old accounting software that lacked visibility
Slow accounting processes and inaccurate financial statements strained the budget
Limited cash flow and high factoring fees made it difficult to fund operations
Lack of financial leadership that really understood their business needs
SC&H Solutions
Created a cash flow forecast with strategies to save money now and grow in the future
Switched from QuickBooks to Sage Intacct
Improved cash flow by getting rid of factoring and securing a traditional loan
Provided ongoing support with financials, bookkeeping, and growth planning
The Results: Explosive Growth, Reduced Costs, and Streamlined Processes
41%
Increase in revenue
$100k+
Saved in annual fees
50%
Faster monthly close process
200%
EBITDA improvement in 3 years (5 – 15% from 2020-2022)
10 days
Or less to generate accurate financial statements
THE STORY
One Small Team with Big Dreams
MTM Trucking is a small logistics partner with big goals. They’ve been in the business of moving what matters to their clients for 23+ years and provide the highest levels of quality and safety standards in the transporting industry. MTM is known for going above and beyond for their supply chain clients, and they needed a financial partner to do the same for them.
MTM originally reached out to SC&H to get help closing their books quickly and efficiently, but as SC&H dug in, our finance experts discovered there was more to the story than just an inefficient accounting process.
MTM’s small and mighty team grappled with cash flow constraints, accounting inefficiencies, outdated software, and a lack of visibility into crucial reporting metrics.
But their biggest hurdle? Their team didn’t have the time or resources to overhaul their finances alone. Fortunately, SC&H was ready to partner with them and rebuild their financial system, one step at a time.
Financially Stuck in the Mud
The trouble with being in a tight financial situation for small businesses is it can become cyclical. MTM was on a tight budget, but they needed to prioritize an accountant partner who could develop a financial strategy built for growth and break the cycle.
They turned to SC&H for help reaching their goals: reduce their costs, scale up quickly, close their books faster, and independently manage their daily accounting processes.
SC&H tailored our services to meet their goals at a price they could afford.
“SC&H put so much work into cleaning up our financials,” said Taylor Santiago, Vice President of MTM Trucking. “They went above and beyond to help us get to a steady point. Our SC&H partner, Pam, was definitely a leader in building a great relationship and gaining our trust as well.”
We devised a monthly partnership plan within MTM’s budget that would allow us to tackle time-sensitive tasks, like developing cash-saving strategies for immediate ROI, as well as work on a long-term financial growth strategy.
MTM accelerated their monthly close by 50%, generating accurate monthly financial statements in 10 days or less.
“There was so much we needed from SC&H,” said Judy. “So they recommended us paying them monthly, so they could come on board and take over our books and begin our financial strategy. So that’s what we did, and it’s just really evolved. SC&H has been a great asset to our company.”
Driving Sustained Profitability and Growth
“Back in 2013, we started with a factoring company,” said Judy Santiago, Owner of MTM Trucking. “But we were paying this factoring company a lot of money at the end of the year.”
Factoring is a very expensive form of capital. It’s not an ideal lending source, so one of our first priorities was to eliminate factoring and stabilize cash flow. Instead, we secured a traditional line of credit with a local bank. From RFP development to negotiating loan terms, we supported MTM at every step of this process.
“Pam’s depth of knowledge helped us secure the actual, physical cash in the bank,” said Taylor. “We have over $1,000,000 in the bank now and before we had negative dollars.”
MTM saved more than $100,000 in annual fees by eliminating factoring as a funding strategy.
As part of this overall credit establishment, we helped MTM secure equipment financing to replace old, worn-out trailers and expand their current fleet. Their company grew with the ability to cover more lanes and increase their volume.
Financing for 15 new trailers was secured to expand MTM’s current fleet and increase volume.
The next part of our analysis found that MTM’s original accounting software, Quickbooks, wasn’t robust enough. They needed more insight into their metrics to make efficient operational decisions and support their growth, so we suggested migrating to Sage Intacct.
“SC&H was so supportive through the Sage Intacct implementation process,” said Taylor. “They were great. Sage Intacct gives us so much more depth and detail with reporting and analytics. It helps us get down to the nitty-gritty and analyze margins better.”
We imported key operating metrics from their trucking system into Sage Intacct so that we could track key numbers by the mile, such as revenue, cost tolls, driver cost, and more. This level of financial data transformed this fledgling trucking company into a profitable well-oiled machine.
“There was a lot of finite detail that went into it because of the way we do business in trucking, but it was definitely the right move for growing in size,” said Taylor.
Support When the Road Gets Bumpy
In 2020, every small business felt the effects of the COVID-19 pandemic, and MTM was no exception. The resulting cash flow shortage could have meant the end of MTM, but we reacted quickly to the COVID-19 onset and helped them obtain crucial PPP funding.
“I would never have known what to do when COVID hit,” admitted Judy. “Pam was the one who took charge of the PPP loans. SC&H helped us get all the reports and put everything together so we could get the first PPP loan and the second loan.”
Not only did we provide critical financing to bridge the cash flow gap, but we also saw an opportunity for explosive growth and capitalized on it.
MTM’s shift to Sage Intacct also allowed them to better analyze profitability by customer and trucking lane and scale quickly when the trucking industry grew exponentially during the pandemic.
MTM increased their revenue by 41% between 2020 and 2022 and improved EBITDA by 200% in 3 years (from 5% in 2020 to 15% in 2022).
Keep On Trucking: Our Continued Financial Partnership
Today, we act as an extension of MTM’s team to provide accurate financial statements, monthly bookkeeping, and growth forecasting and opportunities.
“As we’ve grown as a company, SC&H has grown with us. We would not be where we are today without their support,” said Taylor. “It almost feels like SC&H is an in-house team.”
MTM trusts us with all their financial needs, including assisting with a worker’s comp audit, advice on insurance renewals, and guidance on annual raises and bonuses.
“They saved MTM, bottom line,” says Judy.
