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Board Reporting, Modeling & Optimization

Sikich

Nov 30 2022

2 min read

CLIENT BACKGROUND

As a service company specializing in marketing for commercial real estate brokerages and agents nationwide the company recently received an $8 million venture capital infusion.

Overview

After receiving venture capital funding, the Board of Directors took issue with the company’s lack of financial personnel and infrastructure; requesting that the company find a Chief Financial Officer or VP of Finance. Given the immediate need of an experienced finance team, the company decided to engage our team, which would satisfy the Board’s request while also building the financial infrastructure for the future finance department.

Our Approach and Results

The team was tasked with creating a board-approved operating budget, monitoring and analyzing SaaS KPI’s and deploying sophisticated reporting & modeling solutions for both the Board & C-Suite. Here’s how we did it.

Constructed a robust operating budget tool inclusive of hiring forecasts, cash burn analysis and dashboard for monitoring performance
Assisted with the process of creating and monitoring SaaS KPI metrics and delivered streamlined monthly board performance workbook with a planning calendar
Improved financial reporting to accurately capture gross margin, customer acquisition costs and provided insight into departmental spending
Developing a weekly cash flow model with 26-week look-ahead visibility and a dashboard to measure actual cash performance
Created process documentation to improve efficiency and financial processes across departments
Provided C-suite support related to board meeting preparation and deck review

The experience described in this case study was performed by Accelerated Growth, a company acquired by Sikich LLP on 11.30.2022. Please click here for more information about our Finance Transformation services.

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About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 