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November 2020

TMG Showcases its Partnership with Research Innovations

Gaithersburg, MD – The McKelvey Group, Inc. (TMG), DC metro area’s premier financial consulting firm for fast-growth companies, shares its case study on a successful and longstanding relationship with Research Innovations, where its role over the years evolved from being tactical ‘do-ers’ to that of a strategic partner and trusted advisor at the CFO level. The core of the success stemmed chiefly from TMG’s flexibility to scale up or down, bringing on resources as needed to address peaks and valleys during Research Innovations’ changing needs over time.

“The McKelvey Group has been an invaluable source of expertise and leadership since our earliest beginnings,” said Research Innovations CEO, Jack Harrington.  “In addition to being a constant amidst our changing needs, The McKelvey Group has always given us larger industry insight and ways we can constantly improve and innovate from within as opposed to doing what we have always done. This has been instrumental in the enormous growth and success we have achieved in our years of partnership together.”

Founded in 2009, Research Innovations, Inc. (RII) develops cutting-edge software for the government and military. RII first came to TMG when it was less than one year old and in intense growth mode.  The company was focused on getting up and running, establishing its business and service offerings, and landing its first clients. The management team consisted of one person, who was focused on the offerings and clients.  Wanting to remain agile and grow quickly, RII searched for an outsourced accounting partner to handle the back office. TMG sprang into action to:

• Set up and maintain the accounting system, from invoicing to cash management
• Create the indirect rate structure for government contracting
• Establish the billing process for federal work
• Support government audits
• Provide financial advice and planning for the future
• Create the cost volume for RII’s first major proposal submission

RII won that work and it remained a core contract for the company for many years.  Over time, as RII continued to grow from a single owner to a fully staffed management team and operations group, TMG remained a constant partner and advisor. When the time was right, TMG helped transition to provide support through a new RII Vice-President of Finance.  TMG provided the Vice-President of Finance the ground-level accounting required for the company’s daily operations, the institutional knowledge earned through the years of support to assist with planning, and access to a dedicated outsourced CFO for advisory services.  Along with the growth in personnel and operations, TMG supported RII’s accounting software transition from QuickBooks to the more robust Deltek Costpoint.

“Research Innovations is one of our great success stories because we started with them very early on and adapted with them through their expansive growth,” said Matt McKelvey, President of TMG. “Our ability to scale part-time resources across experience levels allowed RII to invest more heavily in operations and business development while still having a fully functioning accounting department.  In a competitive market, using trustworthy resources who really know your business can help fill the gaps, so growth doesn’t have to stop.  We are proud of Research Innovations’ accomplishments and happy to remain a trusted partner for reach-back accounting and CFO-level advisory.”

For more information about TMG’s Finance and Accounting capabilities please click here.

About The McKelvey Group:

Headquartered in Gaithersburg, MD, The McKelvey Group, Inc. (TMG) has been providing services to companies in the Government and Commercial markets for 20 years. TMG’s proven services in Finance & Accounting, Government Pricing Proposals, Business Valuations, and Customized Training have earned TMG its reputation as the DC area’s premier financial consulting firm for fast-growth companies. With consultants holding more than 100 combined years of Federal contracting experience, the direct involvement in more than $20 billion in proposals and contract awards, and extensive knowledge of the FAR, DFAR, CAS requirements and DCAA, TMG has provided successful results for its clients since 2001.