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Lumavate Case Research – Indinero


Like many fast-growing SaaS companies, Lumavate confronted growing monetary complexities that wanted an expert’s consideration. By way 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 Business CFO 

Colleen discusses how belief and expertise had been the cornerstones of her relationship with indinero.

Lumavate’s modern software program supplies a platform for purchasers to construct digital experiences showcasing their merchandise. They serve varied enterprise corporations, providing each software program and repair subscriptions. 

Whereas providing versatile cost plans served Lumavate’s clients effectively, it created complexities for the enterprise. As their buyer base grew, they quickly realized that their progress was outpacing their capacity 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 an excellent match. With Nicole on the helm, the indinero group streamlined monetary processes for Lumavate, paving the best way for progress for the corporate and a long-lasting relationship that’s nonetheless going robust to today. 

The Problem: Looking for a Monetary Skilled Who Understands SaaS

The Lumavate group knew they wanted extra monetary assist, however they couldn’t select simply any accountant. Within the SaaS {industry}, particular complexities and ever-changing rules require greater than only a basic monetary skilled’s eye. 

Colleen talks concerning the distinctive challenges SaaS companies face relating to funds and the way indinero exceeded her expectations.

The Answer: A Fractional CFO Who’s Additionally a SaaS Specialist 

This want for a SaaS skilled who may additionally inform stakeholders led Colleen and her group to indinero’s digital CFOs and enterprise tax accountants

Indinero approaches every consumer relationship with a customized strategy. When it got here to Lumavate, the group was assigned based mostly on industry-specific experience that might carry essentially the most worth to the SaaS enterprise. 

Nicole Wallace, VP Providers, Indinero

Nicole Wallace, the Vice President of Providers 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 providers throughout varied industries, guiding purchasers by means of 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 progress 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 unique function. This deep understanding of Lumavate’s enterprise mannequin, historical past, and targets made her the right match.

It’s been such a consolation, having somebody who’s been with us for therefore 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 group.

Colleen McLaughlin, Director of Enterprise Operations, Lumavate

The Outcomes: The Insights of a Full Accounting Crew at a Fraction of the Value 

Lumavate started to see outcomes from Nicole’s insights instantly, and her optimistic impression on the enterprise has solely grown over time. Listed below are only a few methods indinero modified the sport for Lumavate: 

Simplifying the complicated for everybody within the enterprise

Nicole’s first motion was to streamline the monetary methods 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 enterprise 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. 

Colleen displays on how a lot she’s realized within the years working with indinero.

A whole group of consultants, all inside price range

Nicole is Lumavate’s major 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 unique advisor, Nicole will carry certainly one of her indinero colleagues to a gathering with Lumavate to verify their questions are answered. 

Indinero has been such an awesome associate through the years. They’ve been straightforward to work with and so responsive. And better of all, they’re particularly reasonable on the charges contemplating the quantity and high quality of the providers they supply.

Colleen McLaughlin, Director of Enterprise Operations, Lumavate

Discovering indinero has helped Lumavate save a major sum of money through the years, contemplating that the corporate didn’t need to pay the wage of an in-house CFO after they solely wanted somebody who may help in a advisor’s capability. 

Colleen discusses the price of switching from indinero.

How may an Indinero skilled change your enterprise? 

Indinero’s group of economic consultants has expertise in a variety of industries, from non-profits to the tech sector to e-commerce. If you’d like the insights and enhancements solely a specialised monetary advisor can present, then contact indinero at present

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