Practices

  • Debt Finance Transactional
  • Asset Finance & Securitization
  • Capital Markets Corporate Governance Mergers & Acquisitions Private Equity Restructuring

Admissions & Qualifications

  • 2008, Maryland Bar
  • 2009, District of Columbia Bar

Languages

  • English
  • Chinese (Mandarin)

Education

  • University of Maryland School of Law, JD, 2008
  • Georgetown University School of Foreign Service, BS, 2004

Eric Maurice Fung, Esq.

Partner | Attorney

efung@bandicoot.us

Minneapolis, MN | Taipei, Taiwan

Eric Fung is a founding partner of Bandicoot, and serves as the managing partner for our Taipei office. Eric started his career in law, practicing corporate finance, mergers/acquisitions, and energy law at Constellation Energy Group, DLA Piper US LLP, and Dickstein Shapiro LLP. In 2011, he became an entrepreneur completing a leveraged buyout of a 37,000 square foot supermarket and in-store restaurant in Minneapolis called United Noodles Marketplace.

During his tenure, he successfully accelerated his businesses to sustained growth. His financial acumen and skill in developing high-performing teams resulted in a 350% growth in sales from 2011 to 2020. He also opened other successful business units and locations, including a Woodbury location and a wholesale division. In 2015, he was named one of Minnesota’s “40 Under 40” for his leadership at United Noodles.

In order to solidify the financial health of his companies, Mr. Fung also developed sophisticated bookkeeping, accounts payable, and other workflow systems that eventually led to his becoming a partner of the Minnesota accounting firm AccountPro LLC. In 2019, it merged with and was rebranded as bandicoot LLC, and has over 80 clients.

Eric has a passion for talent development, and driving diversity in both teams and thought. He is an innovative, entrepreneurially-minded leader, who leads with a long-term view on vision and strategy.

In his spare time, Eric loves cooking, working out, and playing Smash Bros. with his nine year-old son. His most firmly held belief is that every dog is The Best Dog.



THE CAP OUT PROCESS

API WEB-BASED COMMISSION CALCULATOR

CUSTOM AUTOMATION




the challenge

A medium-sized roofing company spent significant time and money each day to calculate fees paid to its sales team members for each roofing project, known as a “Cap Out”.



Our task was to streamline and automate much of the Cap Out process increasing accuracy benefiting both the company and the salesman, as well as reduce the time-consuming workflow process.


The goal of this ERP system was to be able to help member companies by collecting and analyzing data for business intelligence, as well as to create controls and transactional efficiency by coding invoices using the exact naming conventions as dictated by accounts payable policies.


the workflow

For each roofing project, a senior manager manually found and entered every single construction material and labor invoice, credit memo, and credit card receipt. In addition, any marketing and operational costs that make sense to include in the commission calculation must also be included.

Bandicoot patiently watched the Cap Out process to determine all possible variations in its calculation. Recognizing and mapping out all patterns, a logic and wireframe was created. Bandicoot utilized its own portal to create a custom portal webpage that connected the roofing company’s Quickbooks Online accounting system, Acculynx (a leading roofing software application, and Google Drive (cloud-based file storage and synchronization service).







the case

Our custom business process automation reduced the time it takes to complete a Cap Out from 23 minutes and 45 seconds to 52 seconds, cutting the process by 96.35%. After choosing the customer, Bandicoot’s automation grabbed the total amount of the contract from Acculynx, all the costs associated with the project from Quickbooks, included any additional costs the roofing company wanted to add, and generated an invoice for the contractor to the company for that roofing project.

The invoice is subsequently saved in Google Drive using a specific naming convention and an entry for that invoice is automatically entered into Quickbooks Online ready for the roofing company to pay.



in conclusion

Bandicoot was able to comprehend and analyze a process unique to our client and create a solution that saved them precious time. Using our decades of experience and business acumen, our staff was able to devise a custom process to suit the individual needs of our client. Our technical skillset also allowed us to create automated solution that drastically saved time and money. We can do the same for you.