Prophysics Innovations, Inc., was run by William DeForest, entrepreneur & physicist, and his wife, Lani DeForest. Prophysics Innovations, Inc. provided critical services for meeting safety requirements and performance standards for proper installation of advanced x-ray and other imaging equipment in medical facilities. Bill had developed a methodology that uniquely incorporated his knowledge of building materials, radiation behavior and standards and policies governing the installations.
Prophysics, originally established in 1977, had grown substantially through increased demand for their unique services. Lani handled bookkeeping responsibilities, though she had no formal bookkeeping training or knowledge. Growth brought both challenges and increased complexity for the basic bookkeeping. Additionally, the DeForest entrepreneurial team received increased interest from larger companies who saw the value of their service and were increasingly interested in acquiring the business.
Gina Scott & Associates Contribution
Gina Scott spent time learning the business of Prophysics Innovations, Inc. and more importantly, patiently shadowing Lani to glean a comprehensive understanding of her requirements and her challenges. Almost from the first day together, Gina’s focus on enabling Lani through providing tips and recommendations on process and workflow changes that were both easier for Lani to achieve in less time while also improving the professionalism of the business finance bookkeeping foundation.
“Gina Scott, CEO of Gina Scott & Associates, brought her professional knowledge and her passion for truly helping her customers through removing complexity to our partnership. She helped me reduce the time for basic bookkeeping tasks in half through introduction of processes and tips. She helped us prepare our business for the rigor of financial review from interested buyers which increased our valuation!” ~ Lani DeForest, VP Operations, Prophysics Innovations, Inc.
Prophysics, and specifically Lani, gained back critical time cycles previously dedicated to awkward processes for maintaining the company’s books. Potential buyers, who already saw the value proposition of the unique offer that Bill had developed, were also able to quickly assess the financials due to the transparent and professional support provided by Gina Scott & Associates. These factors supported a successful sale of the company.