CLIENT PROFILE
Springside Cheese carries on a century-old legacy of producing hand¬crafted, natural cheeses featuring classic cheddar collections and unique blends of locally inspired flavors. Licensed cheesemaker Wayne Hintz bought a small factory ¬in the fall of 1973 after years of learning the craft of small batch cheese production from his father-in-law, Eugene Winter. Wayne passed his knowledge and passion on to his sons Keith, Nathan, and Bradd who are now hands-on in running the midsized business as the fourth generation in the cheese industry. In addition to the manufacturing and retail functions in Oconto Falls, Wisconsin, the company operates a retail shop in Pueblo, Colorado.
SITUATION
Springside Cheese was not getting the service its business deserved from its accounting/consulting firm. Among the issues, the firm was more than two years behind on preparing year-end financial statements and tax returns. In addition, the business had undergone an unsuccessful software conversion and wasn't getting much-needed guidance. At the recommendation of their attorney, the owners reached out to Wipfli for assistance.
STRATEGY
Wipfli set out to immediately ensure the manufacturer was up to date with its financial statements and reporting. The firm dedicated considerable time to uncovering the necessary data to capture the right information and rework it in a more meaningful way in concert with the company’s unique software. This enabled the owners to more readily access more reliable and relevant information in a timely fashion.
Springside Cheese was also interested in expansion. Wipfli helped obtain the numbers that could support answers to the manufacturer’s questions on how, when, and where to expand.
BENEFITS
Springside Cheese now receives more timely financial information. Statements are available within 20 days of month-end. The manufacturer has also gained sound guidance from Wipfli on analyzing and using that financial information. Furthermore, as a result of reliable financial indicators, Springside Cheese enjoys much better cash management and an improved ability to manage its inventory.
Having reliable financial information has allowed Springside Cheese to make prudent business decisions with confidence.
