Seed-stage companies and small businesses may not have the resources to hire a full-time CFO; however, they do not have to go without strategic financial advice. Salient, an early-stage software company, wanted a virtual CFO to help build a financial model and forecast so it could better understand its cash runway.
They needed to identify the impact of hiring additional team members, obtaining grant funding, venture debt, and landing customer deals. Not only was Salient seeking a vCFO with a modeling tool sophisticated enough to run side-by-side scenarios, but they needed a customized approach – that’s where Execor stepped in.
They needed to identify the impact of hiring additional team members, obtaining grant funding, venture debt, and landing customer deals.
Challenge
Salient had outsourced their accounting but was given a one-size-fits-all approach to budgeting and forecasting. This left them with an Excel file that was a maze of formulas and links, making it difficult to update assumptions or utilize the file.
As a seed-stage company, they also had a hard time getting the attention of their CFO. Salient knew that the value in a vCFO is understanding their business and consulting with them through regular ongoing communication.
Although a vCFO can be part-time, they still need to be available when you need them, listen to your challenges, understand your industry, and have the ability to offer concrete advice and guidance. As an early-stage company, Salient was seeking a reliable partner that could meet their unique needs and build out their financial future.
Solution
Execor’s experts worked hand-in-hand with Salient to customize their financials and chart of accounts. Our team also worked with the executive team to understand Salient’s specific reporting needs and performance metrics to prepare a detailed forecast, and model four cash flow scenarios over 24 months. After attending board meetings for forecast feedback, our team makes updates and thoroughly reviews the sales pipeline and its use within the financial forecast.
Execor’s vCFO also assisted Salient in reviewing draft venture debt agreements, providing insights and recommendations on areas that may be negotiable. We offered guidance in preparing and reviewing their 409A, implemented a new credit card and spend management tool, and customized our vCFO services to help Salient optimize their back-office.
“Partnering with Execor team was exactly what we were looking for. They are much more than accountants; they provide guidance and are available to talk through decisions that impact our business.”
Results
- Execor’s solutions helped the executive team understand the financial impacts of their operational and sales decisions.
- Salient gained a holistic view of their cash flows and timing of their Series A raise.
- Our capable outsourced accounting and finance team provided confidence and stability to the executive team of a growing company.
Clean design and very straightforward. I didn’t have to spend any time figuring out how things work. br45t is definitely a top-tier choice.
Great vibes and even better prizes. I love how easy it is to navigate through the lobby. If you are looking for a win, try vn123wincasino.
I had a great run today and won a decent amount. The withdrawal process was surprisingly quick and hassle free. Cheers to pk9999win
Solid platform with a very professional feel. I feel safe depositing my funds here. Check out br3366bet today.
This place has a fantastic atmosphere and the graphics are stunning. It feels more like a high-end casino than just a website. Enjoy ji8888game
A hidden gem for sure. I love the variety of games they offer and the community feels very welcoming. Having a great time at inyy567games
This is definitely the go-to spot for anyone looking for a fun and rewarding experience. The local support is a huge plus. Visit phpkjili
Solid platform with a lot of excitement. I appreciate the frequent updates and new game additions. Check vnnohu777
Solid platform with a very user friendly layout. I appreciate how easy it is to manage my funds. idnaga169 is definitely my new go to site.
The login process is super fast and I have not encountered any bugs so far. It is great to see a site that values user experience. Give bd66zzlogin a try.
The variety of options here is impressive. I love how easy it is to navigate the site on my phone. Definitely giving five stars to vnxa88 for the great service.