Smart Strategies: Digital Publication

Challenge

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This ten year old venture-backed, SaaS-based startup was challenged with managing stakeholders, managing their accounting systems and procedures, and managing through thoughtful sales growth. During this time, the board of directors had a shortage of visibility into strategic marketing and financial performance of the business, leading to many challenging board conversations. One of the main concerns through this was accounting, due to the lack of reporting, accounting management, and absence of consistent deliverables.


Solution

Working with the management team, GrowthLab developed a strategic framework for delivering financial data and business insights in a standard, consumable format, delivered consistently. GrowthLab also helped restructure the sales strategy and team; one key aspect of this was linking compensation with sales performance…something almost all companies should do!

To help restructure their accounting systems and procedures, we implemented systems that could virtualize the daily and weekly accounting functions—ensuring that scheduling was never a bottleneck. Also, with additional cadence and rigor, we were able to generate cleaner, more accurate, and on-time financial reporting.


Results

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The Board is now receiving accurate and timely financials, budget-to-actual reports, and flash reports on a monthly basis, while now being in a position to weigh in on strategy and approve the company’s annual operating plan (AOP). These insights allowed GrowthLab and the management team to identify customers where they were making and losing money—one of the four main areas of pain for most businesses!

The accounting function is now completely virtualized and able to be served with greater agility and timeliness. Therefore, the conversations today between the management team and Board are much more productive and collaborative with a focus on long-term alignment and strategic growth.

Customer Highlights

CEO of a $1MM recurring revenue SaaS business in the digital publishing and content management space partnered with GrowthLab to implement cadence and rigor from accounting on up to Board relations. 

About GrowthLab

GrowthLab is your customized team of experienced business and financial professionals who find the right solutions to take your business to the next level.

Tizra

“GrowthLab has provided invaluable tools and advice to Tizra’s management team, helping us scale smoothly and confidently.“

Abe Dane, CEO at Tizra

NAMI Rhode Island

“GrowthLab earns my highest praise for professionalism and affordability. I have hired them to improve our financial reporting... they were hands-on, patient, and able to move our organization... to an up-to-date and easy-to-use system.”

Christine Earley, Ph.D. Board Member & Treasurer at NAMI

The Purple Carrot

“…well-versed in all areas of finance, providing strategic guidance for early- stage start-up businesses… possesses a great work ethic, deep insights into financial analysis and modeling, and a collaborative approach to his work. An asset to any team.”

Andy Levitt, Founder & CEO at Purple Carrot

FluidSense

“GrowthLab is a tremendous partner for FluidSense. Allowing our core team to focus on engagement and development, while GrowthLab focuses on the financial and bookkeeping aspects.”

Jeff Poole , COO at Fluid Sense

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