A SaaS start-up (multi-million-dollar revenue) in the architecture industry centered around subscription-based training content for architects studying for the ARE exam.
After employing a remote managed-service accounting vendor, the CEO wanted a more sophisticated finance/accounting solution that would offer higher caliber services and more effective financial reviews. There was also no formal cash flow management or budgeting process, which constrained operational decision making.
Our Approach and Results
The team’s tasks included the following:
- Clean-up prior year and YTD financials with new accrual accounting methodology.
- Assumed a holistic finance role including transactional close, payroll, financial statement preparation, and analysis.
- Built out a 26-week cash flow model as well as an operating budget.
- Held weekly finance status meetings and monthly financial reviews to review cash projections weekly and company performance monthly.
- Implemented new operational processes to provide visibility into profitability by business line.