Surf
X
Start of assignment: December 2021
Type of assignment: CFO, Controlling
Activity: Saas
Initial ARR: €1M
Number of employees: 30
Mission summary
At the start of our collaboration, Surfe had no reliable accounting data, and its business was run solely through a back-office and top-line management system, disconnected from actual flows. Our mission was to create and run a finance department within this start-up.
This includes :
- Creation of a monthly report (P&L, BS, Cashflow, KPIs)
- Framework for accounting for recurring revenues (particularly with regard to deferred income)
- Grant research and supervision of CII file preparation
- Assistance with bonus plan design for Sales teams
- Cost Control (with proposals to change partners)
- Budget and Forecast
Team and commitment
Three members of our Iter Advisors team are involved in this recurring assignment (a CFO, a Senior and a Junior).
Results
- Creation of reporting tools (Cash-flow - P&L and Balance Sheet)
- Budget preparation since 2023
- Supporting Surfe for nearly 3 years
- Redefinition of the various processes with the chartered accountant.
- 20k Cost cutting / year through simple negotiation
- Reliable Monthly Reporting on D+15
Conclusion
We supported the Surfe company for 3 years, until the post-fundraising function was internalized.
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