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By the start of 2000 Hank Heath had already grown his contract accounting service from a one-man operation to about 20 employees.
He wanted to expand again and decided to introduce more services. Borrowing a page from the largest CPA firms, which offer a wide range of consulting services, On-Site Financial Solutions started helping small companies devise business plans and other strategic plans. The firm also started advising clients on what types of computerized financial and accounting systems they should implement.
Now On-Site Financial occupies a niche between certified public accounting firms and temp agencies that offer accounting help. Its clients include many of the metropolitan area's small, fast-growing technology firms that are attracting venture capital funding.
"We support companies' growth and give them the best finanical operations and systems that they can have," Heath said.
On-Site Financial's annual revenue doubled in 2000 to $2 million, and employment rose 50 percent to 30 people, Heath said. He expects the revenue figure to hit $3 million this year and employment to grow to 50 people. In November, On-Site Financial was named Service Company of the Year at the local 2000 Technology Awards.
"We're not a CPA firm; we complement them," Heath said. "We don't do audits, we don't do tax returns, we don't do compliance work."
Indeed, Portland's leading CPA firms often refer their clients to On-Site Financial, particularly if they feel that the client company needs better financial systems, more experienced staffing or additional training, Heath said. That way the CPA firm rests assured that the financial reports it receives at the end of the year are well organized and clearly stated.
Similarly, he added, banks sometimes refer their clients to On-Site in order to...