Situation

LongWater Opportunities is a lower-middle market alternative asset firm with Private Equity, Private Credit, and Capital Solutions practices.

LongWater continues to actively seek new opportunities in Construction & Infrastructure, Manufacturing, and Industrials, among other industries. They specialize in hands-on partnership with the businesses they invest in to drive growth and value creation.

Challenge

LongWater’s Finance & Accounting team spent valuable time and resources manually pulling data from multiple QuickBooks instances and recalculating a complex, comprehensive financial package in Excel each month for their investors.

LongWater’s reporting team also needed portfolio company-level financial reporting, which was previously compiled manually using data from each PortCo.

Action

01 | Provided automated general ledger and trial balance Data Feeds into Excel, which consolidated the QuickBooks instances and replaced the previously disparate raw data.

02 | Repurposed and recalculated all outputs of the reporting to be calculated off real-time data, allowing the LongWater team to reload all financial data sources with the click of a button.

03 | Created detailed, automated financial statements in PowerBI, filterable by portfolio company.

Results

In a mere 10 days from when the connections were established, the LongWater team had access to automated and consolidated financial packages. The new financial packages saved them 4+ business days each month of manual labor cleansing and combining data in Excel and Power BI.

“The BUCS Data Feed and reporting saved us several days a month gathering data from multiple sources to provide monthly reporting both internally and externally to our investors.”

– Jill Cederberg, Director of Accounting