Telos Bookkeeping LLC: Company Profile

Background

Overview

Telos Bookkeeping LLC is a financial services firm specializing in comprehensive bookkeeping solutions for small businesses and medical professionals. The company is headquartered in Colorado Springs, Colorado, and offers a range of services designed to streamline financial management and support business growth.

Mission and Vision

Rooted in the ancient Greek word "telos," meaning "ultimate purpose," Telos Bookkeeping aims to help small business owners steward their resources with clarity, integrity, and impact. The firm believes that every business has a purpose beyond profit and strives to serve clients with honesty, wisdom, and generosity.

Primary Area of Focus

Telos Bookkeeping focuses on providing accurate and timely financial recordkeeping, payroll processing, and financial reporting services. The firm specializes in serving small businesses and solo or small medical practices, including doctors, dentists, veterinarians, psychiatrists, and med spas.

Industry Significance

In the competitive landscape of financial services, Telos Bookkeeping distinguishes itself by offering personalized, purpose-driven bookkeeping solutions that align financial management with clients' broader business objectives. This approach enables clients to focus on their core operations while ensuring financial accuracy and compliance.

Key Strategic Focus

Core Objectives

Financial Accuracy and Timeliness: Ensuring that clients' financial records are up-to-date and precise, facilitating informed decision-making.

Tax Optimization: Maximizing tax deductions through meticulous financial management and reporting.

Business Growth Support: Providing insights and tools that help clients increase profitability and achieve long-term financial goals.

Specific Areas of Specialization

Medical Practices: Tailored bookkeeping services for solo and small medical practices, addressing unique financial needs such as equipment depreciation, lab costs, and patient financing flows.

Small Businesses: Comprehensive bookkeeping solutions for small businesses, including monthly reconciliations, financial reporting, and payroll processing.

Key Technologies Utilized

Cloud-Based Accounting Platforms: Utilizing QuickBooks Online and Xero for secure, real-time financial data management.

Practice Management Tools: Employing Karbon for workflow management to ensure efficient service delivery.

Financial Reporting Tools: Leveraging Fathom for visual reporting and scenario planning to provide clients with actionable financial insights.

Primary Markets Targeted

Healthcare Sector: Focusing on medical professionals, including doctors, dentists, veterinarians, and med spas.

Small Business Community: Serving a diverse range of small businesses seeking reliable and personalized bookkeeping services.

Financials and Funding

Specific financial details, including total funds raised and recent funding rounds, are not publicly disclosed. The company operates as a privately held entity, focusing on providing value-driven services to its clients.

Pipeline Development

As a service-oriented firm, Telos Bookkeeping does not have a product pipeline or clinical trials. Instead, the company continually refines its service offerings to meet the evolving needs of its clients, particularly in the medical and small business sectors.

Technological Platform and Innovation

Proprietary Technologies

Telos Bookkeeping leverages industry-leading cloud-based platforms to deliver accurate, efficient, and strategic financial management. This technology-driven approach ensures clients' records are always current, compliant, and ready to support smarter decisions.

Significant Scientific Methods

Financial System Optimization: Reviewing current systems, cleaning historical records, and implementing standardized workflows to enhance financial management.

KPI Dashboards: Providing key performance indicator dashboards for margin, payroll percentage, cost of goods sold percentage, and cash runway to support business growth.

Leadership Team

Mark Tuggle, PhD, EA | CEO

Dr. Mark Tuggle serves as the CEO of Telos Bookkeeping. With over 30 years of leadership experience across various sectors, including military, non-profit, and for-profit organizations, he brings a wealth of knowledge to the firm. As an Enrolled Agent with a Ph.D. in Organizational Leadership, Dr. Tuggle has provided accounting and advisory services to numerous small businesses and medical practices.

Cristina Talley, CPA, EA, CTC | Senior Tax and Accounting Advisory Partner

Cristina Talley is a U.S. and Philippine Certified Public Accountant, an IRS Enrolled Agent, and a Certified Tax Coach with nearly 10 years of U.S. accounting and tax experience. Originally from the Philippines and now based in North Dakota, she specializes in helping clients with their accounting and tax needs, ensuring compliance and maximizing tax savings.

Competitor Profile

Market Insights and Dynamics

The financial services industry, particularly in bookkeeping for small businesses and medical practices, is characterized by a large number of service providers ranging from large firms to specialized boutique agencies. The demand for accurate and timely financial management continues to grow, driven by increasing regulatory requirements and the need for businesses to make informed financial decisions.

Competitor Analysis

Telos Northwest, LLC: A competitor offering small business bookkeeping and financial project management services.

Telos CPAs: Specializes in nonprofit accounting, bookkeeping, and tax services tailored exclusively for 501(c)(3) nonprofits.

Strategic Collaborations and Partnerships

Specific details regarding strategic collaborations or partnerships for Telos Bookkeeping are not publicly disclosed. The company focuses on building strong relationships with its clients to deliver personalized and effective financial solutions.

Operational Insights

Telos Bookkeeping differentiates itself through its purpose-driven approach, aligning financial management with clients' broader business objectives. By leveraging advanced technology platforms and maintaining a client-centric focus, the firm offers tailored solutions that address the unique challenges faced by small businesses and medical practices.

Strategic Opportunities and Future Directions

The company continues to explore opportunities to expand its service offerings and enhance technological capabilities to better serve its clients. By staying attuned to industry trends and client needs, Telos Bookkeeping aims to remain a trusted partner in financial management for small businesses and medical professionals.