Like many fast-growing SaaS companies, Lumavate confronted growing monetary complexities that wanted knowledgeable’s consideration. By means of indinero, they discovered an skilled with the {industry} credentials to streamline their enterprise—and years later, indinero and Lumavate are nonetheless companions.
Right here is their story.
Lumavate: A Rising SaaS Enterprise In Want of An Trade CFO
Lumavate’s revolutionary software program offers a platform for purchasers to construct digital experiences showcasing their merchandise. They serve numerous enterprise firms, providing each software program and repair subscriptions.
Whereas providing versatile fee plans served Lumavate’s clients properly, it created complexities for the enterprise. As their buyer base grew, they quickly realized that their development was outpacing their means to handle the monetary aspect of their enterprise internally.
Of their quest to seek out the very best monetary assist, they discovered Nicole Wallace and indinero. From day one, it was a perfect match. With Nicole on the helm, the indinero staff streamlined monetary processes for Lumavate, paving the best way for development for the corporate and a long-lasting relationship that’s nonetheless going robust to this present day.
The Problem: In search of a Monetary Professional Who Understands SaaS
The Lumavate staff knew they wanted extra monetary assist, however they couldn’t select simply any accountant. Within the SaaS {industry}, particular complexities and ever-changing laws require greater than only a normal monetary skilled’s eye.
The Resolution: A Fractional CFO Who’s Additionally a SaaS Specialist
This want for a SaaS skilled who may additionally inform stakeholders led Colleen and her staff to indinero’s digital CFOs and enterprise tax accountants.
Indinero approaches every consumer relationship with a customized method. When it got here to Lumavate, the staff was assigned primarily based on industry-specific experience that will carry essentially the most worth to the SaaS enterprise.
Nicole Wallace, VP Companies, Indinero
Nicole Wallace, the Vice President of Companies at inDinero, brings over 25 years of various expertise, together with 10+ years as a Director at mAccounting (now a subsidiary of inDinero). She has supplied CFO/COO companies throughout numerous industries, guiding purchasers via funding, acquisitions, and profitable exits totaling over $100 million raised and $250 million in exits.
Nicole’s journey started in company accounting at Software program Artistry, resulting in a profitable IPO and acquisition by Tivoli Techniques/IBM. She later joined Escient Applied sciences, witnessing its development from a startup to a division of D&M Holdings. With a level in accounting from Indiana College Kelley College of Enterprise, Nicole’s experience and lively involvement in organizations like gBeta and Starfish Initiative contribute considerably to inDinero’s success.
Not solely did Nicole have experience within the SaaS {industry}, however she’d labored with Lumavate beforehand in a distinct function. This deep understanding of Lumavate’s enterprise mannequin, historical past, and objectives made her the right match.
It’s been such a consolation, having somebody who’s been with us for thus lengthy. Nicole actually will get our enterprise. She understands not simply our product and income streams, however the nuances and people who make up our firm. Everybody, together with our CEO and chairman of the board, has a lot belief in Nicole and the Indinero staff.
Colleen McLaughlin, Director of Enterprise Operations, Lumavate
The Outcomes: The Insights of a Full Accounting Crew at a Fraction of the Price
Lumavate started to see outcomes from Nicole’s insights instantly, and her optimistic impression on the enterprise has solely grown over time. Listed here are just some methods indinero modified the sport for Lumavate:
Simplifying the advanced for everybody within the enterprise
Nicole’s first motion was to streamline the monetary programs at Lumavate. From there, she continued to work as a trusted associate, equipping Colleen with the data she wanted to maintain the board and CEO knowledgeable.
Offering long-term schooling and confidence
There’s worth in having a long-term, trusted associate when managing your small business funds. As indinero’s consultant, Nicole has supplied ongoing schooling and session, serving to Colleen and different stakeholders higher perceive their enterprise’s monetary well being.
A whole staff of specialists, all inside funds
Nicole is Lumavate’s main level of contact, however she’s not the one monetary skilled from indinero that’s consulted with the corporate. Typically, in the event that they want perception from a distinct advisor, Nicole will carry considered one of her indinero colleagues to a gathering with Lumavate to verify their questions are answered.
Indinero has been such an amazing associate over time. They’ve been simple to work with and so responsive. And better of all, they’re very reasonable on the charges contemplating the quantity and high quality of the companies they supply.
Colleen McLaughlin, Director of Enterprise Operations, Lumavate
Discovering indinero has helped Lumavate save a big amount of cash over time, contemplating that the corporate didn’t need to pay the wage of an in-house CFO once they solely wanted somebody who may help in a guide’s capability.
How may an Indinero skilled change your small business?
Indinero’s staff of economic specialists has expertise in a variety of industries, from non-profits to the tech sector to e-commerce. In order for you the insights and enhancements solely a specialised monetary guide can present, then contact indinero in the present day.
