Once upon a time ... Bitly was getting big traction in defining and delivering on the new marketing space of Link Management
... and every day ... The Finance team was manually entering in new orders, manually billing for those orders, and manually doing financial reporting, all in Excel, and all time-consuming, with DSO @ 110 days and a 4 week close,
... until one day ... They decided they needed to upgrade their billing, financial, and reporting systems, and chose Sage Intacct, the first and last cloud financial system you will ever need,
... and because of that ...
they reduced Quote-to-Bill by 10% by integrating to Salesforce.com,
- so now, do automated invoicing, collections, and dunning,
- so they reduced DSO from 110 to <60,
- so they, increased cash-flow by 6 months
- essentially creating a bridge financing without any dilution of equity, and
... and since that day ...
- they have departmental level budgeting for proactively managing P/L,
- real-time dashboards to give instant insights to the executive team for big business decisions,
- and moved from closing the books in 4 weeks to 1 week to get data to the team faster,
- while not having to hire any additional finance staff, a savings of $250,000,
... until finally ... they raised a $63M round from Spectrum Equity to fund their next stage of growth.