Industry: Professional Services
Company
FullFunnel is a revenue operations services firm that helps organizations solve capability and capacity problems in their revenue programs. FullFunnel has been a leader in the sales and marketing outsourcing and consulting space since 2014 and currently serves hundreds of customers across the world, helping them to solve dynamic revenue-related problems through five core services: Staffing, Consulting, Marketing, Tech & Enablement, and Training.
Problem
As FullFunnel expanded both their client base and their team, their financial operations function became stressed. Additionally, FullFunnel had recently completed two acquisitions and was in the process of consolidating those financial ops into their own. At the time, FullFunnel’s finance team included a CFO, Director of Finance, and Accounting Analyst; however, this team was costly and was operating very inefficiently, with few redundancy management practices and standard operating procedures.
The inefficiencies and risk in the financial ops program were compounded by turnover within the group, which led FullFunnel to begin searching for new solutions, and ultimately found finairo.
Solution
Finairo got to work right away, addressing the redundancy challenges by creating and implementing SOPs for all of FullFunnel’s financial operations processes, effectively allowing FullFunnel to be serviced by an entire finairo team, and not dependant on one or two resources. Additionally, finairo evolved the existing AR/AP processes to make them more efficient and transparent, and have allowed FullFunnel to improve their cash conversion cycle. finairo also evolved FullFunnel’s financial reporting suite, helping to provide the data the FullFunnel management team needed, exactly when and how they needed it.
Now, finairo is FullFunnel’s fully-outsourced financial operations team, handling AP/AR, bookkeeping, FP&A, and financial reporting. Highlights from the on-going engagement include:
- New SOPs for all financial ops functions
- Fully-managed AR/AP
- Real-time reports and financial dashboards
- Books closed by the 16th of each month
- Reduced the cost of financial ops by over $100,000 annually
- Real-time management of an accurate financial forecast
