History of IFS
Ever since graduating with his Engineering degree from RIT about twenty years ago, Alec has spent most of his career building his knowledge and experience working for large companies in various Finance functions. These companies include GE, Xerox, Bausch & Lomb, Global Crossing and Quaker Oats. Over the last eight years or so, he began to notice how quickly he was able to make impacts to his surroundings through his ability to apply desktop technology to solve problems, his understanding of the finance and business world, and natural tendency to develop and execute improvements to business processes.
Some time after earning his MBA from RIT in 2001, Alec began to consider that his skills, talent, and drive could be applied to companies that are smaller than those he had mostly worked with to date. It seemed that, although these smaller companies would not have the wherewithal to staff a full-time Finance staff (and perhaps not even a strong Finance person) on a full-time basis, their needs for these services were every bit as great as the needs they would have in the areas of Accounting, Legal, Payroll, IT, or any of the other professions that are necessary to businesses today.
Today more than ever, with the realities of Sarbanes Oxley, Audits, and increasing competition, small and medium sized businesses need the services of key professions in place and working at peak proficiency. However, how can a smaller business achieve this? A smaller company can hire a very experienced full-time Finance person that will perhaps be able to keep up with all of the business finance needs, but at great cost in money and benefits. On the other hand, it can hire a less experienced person for less cost, and hope they come up to speed quickly, but this often does not work, and the person may realize their increased market value very quickly even if it does!
In creating “Innovative Financial Solutions”, Alec’s intentions are to offer a broad array of financial services and functionality to companies on a very efficient, but also cost effective basis – and it is well differentiated from the various
accounting functions:
“Accounting tends to be mostly concerned with the proper recording and classification of where a company has spent its $. CPAs and other professionals who provide these functions usually do them very well. However, they are often unable or unwilling to use the accounting and financial data to help management run their businesses and make forward-looking decisions.
These analyses, however, are so incredibly important to the financial health, profitability, and competitiveness of any business, the need for them can no longer be overlooked no matter how small the business is.”