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CASE STUDY

Digital marketing firm to go from nearly bankrupt to making six-times its previous revenue with the help of Ascension

Company Name
Bridges

Industry
Digital Marketing, B2B

Years in Business
Nine

The Company

Bridges is an Oklahoma City-based digital marketing firm founded by partners Ashley Quintana and Jake Fisher.

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Living on the cutting edge of digital marketing strategies, Bridges is the only HubSpot Platinum Certified Agency Partner in the Oklahoma City area.

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Working with diverse businesses around the world, Bridges cemented itself as an innovative B2B digital marketing firm.

 
 

However, despite the success of Bridges’ clients and some top agency awards, Bridges’ financial situation was becoming challenging. The leadership team was having difficulties reading their financial situation. Things like cash flow or net income were becoming increasingly difficult to assess, especially as their internal team and client roster grew.

The Problem

When their books became too complicated to be done in-house, Bridges decided to seek outside assistance from a different bookkeeping firm, which wasn’t a good fit. They then tried an online virtual CPA firm which was a “disaster.”

The situation was now dire. Something had to change. Bridges knew they needed to operate more efficiently to continue growing, so they contacted Ascension CPA.

Ascension quickly discovered that Bridges was less than a year away from bankruptcy without significant changes to the way they operated.

Looking for comprehensive help with their bookkeeping, accounting and financial strategy, Bridges decided to utilize Ascension’s all-in-one business accounting and part-time CFO services.

The Solutions

Team members from Ascension worked with Bridges staff to implement the following solutions:

Assumed control of all bookkeeping and accounting functions

Got the books up to date

Helped scale the agency for growth

Developed and implemented a complete financial plan to allow for more advanced profitability measurement and future growth projections

Monitored spending and established strong cash flow and cash management solutions

Helped align long-term goals with the efficiencies needed to reach them

Worked with Bridges leadership to ensure they had a complete understanding of the agency’s financials and position to make solid financial decisions.

Immediate and Long-Term Results

The partnership between Bridges Strategies and Ascension CPA resulted in a successful financial turnaround for the digital marketing firm. Bridges went from operating at a loss and being nearly insolvent to running a healthy profit. Their gross revenue grew to six times what it was when the two firms joined forces.

“Ascension is an essential part of our business success. They do an excellent job of managing our finances and giving us accurate and helpful information so that we can make good decisions. The two principles of Ascension have backgrounds in business finance, banking, and business operations. That expertise helps us beyond just the normal accountant/tax/bookkeeping.”

Jake Fisher
President of Bridges

Today, Bridges still outsources all of their accounting and bookkeeping services to Ascension in addition to taking advantage of their part-time CFO Services.

A deep and valuable business relationship built on trust continues to grow between the pair.

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