Enhanced financial management for a Technology Platform

A rapidly growing technology platform was struggling with complex financial challenges. The business had an expansive cost base with many small expenses scattered across various departments.Managing pass-through revenue, where revenue is collected on behalf of other suppliers using the platform, added another layer of complexity. Furthermore, the company aimed to raise equity capital but lacked the financial management and governance needed to attract investors.

Benchmrk implemented a targeted program to address these issues:

1. Cost Analysis and Classification: We conducted a thorough analysis to understand and classify all costs, providing clear visibility into the financial landscape.
2. Bookkeeping and Standard Accounting: Our team took over the bookkeeping and standard accounting tasks, ensuring accurate and timely financial records.
3. vCFO Support: We introduced virtual CFO (vCFO) support to implement robust financial management and governance practices.
4. Education Program: We developed an education program for senior leaders, focusing on managing their profit and loss (P&L) statements effectively.

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Our comprehensive solution delivered significant improvements in the business’s financial management:

• Improved Cost Visibility: The business gained a clear understanding of its cost structure, enabling more thoughtful cost reduction and strategic spending.
• Successful Capital Raise: With improved financial management and governance, the business successfully raised equity capital from external investors.
• Reduced Financial Stress: The senior leadership team benefited from the education program, enhancing their financial acumen and reducing the stress of managing financials independently.
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Client Testimonial: "We had a growing business and were trying to manage the financials ourselves. Brett and his team took away all of that stress and helped us improve the financial position of the company."

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