Our client grew from $500K to $125MM+ in just four years. Our team members were brought into the organization who started working directly with the founders to build out finance and related processes.
Before our engagement, one of the co-founders of the company was running all the company finances. Invoices and payables were sent whenever there was leftover time in the day and the company didn’t leverage financial data to make strategic decisions.
COGs tracking and reporting were very difficult to calculate for a variety of factors including system constraints, account setups, complex sales channels, etc.
The company was not “sale ready” and lacked maturity in most functional areas.
Our Approach and Results
The team’s tasks included the following:
- Setting up the financial infrastructure for the entity and working directly with the CEO to ensure the structuring of operations would facilitate insights into COGs and other key reporting metrics
- Creating baseline financial reporting tools and processes. Collaborating with all departments of the organization to create actionable dashboards that combined financial and operational data
- Building automated Excel processes focused on allowing data from disparate systems to be consolidated in a dashboard format
- Working with executive leadership to recruit, onboard, and transition finance responsibilities to internal resources
- Working with the leadership team on exit planning
- Training and developing new resources in finance, as well as general staff through an onboarding training