Tukel, Inc.

Tukel, Inc., an authorized Xero Accounting certified advisor and partner, caters to the financial, accounting, compliance, and advisory requirements of U.S.-based businesses. With comprehensive services, including bookkeeping, tax assistance, HR and payroll management, as well as CFO advisory support, it serves as a one-stop shop for startups and small to midsize businesses (SMB), particularly those without an in-house finance and accounting team.

Beyond financial services, Tukel also functions as a technology hub, offering expertise in technology services advisory. Its capabilities extend to aiding entrepreneurs and technology firms, with a major portion of clients in the SaaS industry.

“We offer our range of services tailored to each client's size, complexity, technology, and financial needs,” says Cenk Tukel, founder and CEO.

Tukel provides a three-tiered service model to meet the diverse requirements of clients.

The first tier includes essential services like bookkeeping, accounting of financial records, tax management, and planning for improved financial outcomes.

In the second tier, Tukel provides comprehensive HR and payroll services. This is particularly crucial for companies that are employing both local personnel and remote teams, especially those founded by non-U.S. individuals.

The third tier is dedicated to advisory support. Included is close collaboration with clients, and guidance on various matters, such as legal considerations, contractual agreements with stakeholders, and strategic structuring of investments and deals. The advisory role extends to offering assistance in selecting suitable investors, securing funding, refining operational processes, devising effective pricing strategies, and charting achievable business goals, particularly relevant for startups and SMBs aiming for growth and successful exits.

Excellence in customer service is paramount at Tukel. It initiates a discovery call to gain an in-depth understanding of a client’s distinct needs and plans. Inquiries are responded to within one business day. To enhance the experience further, each client is assigned a dedicated client manager, serving as their primary point of contact.

Tukel also considers all compliance requirements while working with clients. It identifies potential risk points and tailors its services to effectively address those needs. If the requirements are beyond its core expertise, it leverages its extensive network of partners to offer coverage to clients in every area.

Many of Tukel’s clients are influenced by the recent market trends, including global recession, reduced demand, and inflationary pressures. Another notable challenge is the limited availability of investors for startups and SMBs, especially within the technology sector. Tukel capitalizes on its expertise to empower clients to effectively surmount these challenges.

One of its retail clients, a master franchisee of a major U.S. brand, faced challenges in achieving top-line growth due to uncontrolled cash burn, despite a fixed cost base. To address this, Tukel analyzed historical financials and projected future scenarios based on different growth rates, and figured out that the client would incur losses even with triple the current growth rate. The analysis revealed a lower gross margin compared to industry benchmarks. As a partner of Xero, Tukel benefits from its user-friendly interface and robust reporting features which makes reporting and analysis both more efficient and less time-consuming for them and their clients. This allows small business owners to focus more on their business operations.

Based on its findings, Tukel recommended raising prices or negotiating with suppliers to reduce product costs as well as lowering discounts during promotional events to enhance gross profit. By implementing these changes, the client improved cash flow and achieved a sustainable business model.

For another client, who faced a decline in investor sentiment, Tukel suggested multiple approaches, including setting up a CRM system to target the right investors for the business. In addition, it explored funding options like borrowing money and leveraging his subscription-based revenue as evidence of recurring income. This allowed him to secure loans and allocate funds for growth strategies, including marketing.

In another instance, Tukel assisted a non-U.S. founder with tax planning for his highly profitable business. It devised a solution that reduced the client’s tax burden to less than 20 percent of what he was paying before. Despite requiring some restructuring, including dissolving the existing company and opening a new one with upfront costs, he managed to amortize all the expenses within six months and focus on growth.

With success stories like these, Tukel’s unparalleled expertise in addressing the varying requirements of SMBs and startups continues to solidify its position as a pioneering financial advisory firm.