Lumavate Case Research – Indinero

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Like many fast-growing SaaS companies, Lumavate confronted rising monetary complexities that wanted an expert’s consideration. Via 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. 

Quick Facts original

Lumavate: A Rising SaaS Enterprise In Want of An Business CFO 

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

Whereas providing versatile cost plans served Lumavate’s clients properly, it created complexities for the enterprise. As their buyer base grew, they quickly realized that their progress was outpacing their potential to handle the monetary facet of their enterprise internally. 

Of their quest to seek out the best possible monetary help, they discovered Nicole Wallace and indinero. From day one, it was a really perfect match. With Nicole on the helm, the indinero crew streamlined monetary processes for Lumavate, paving the way in which for progress for the corporate and a long-lasting relationship that’s nonetheless going sturdy to at the present time. 

The Problem: In search of a Monetary Skilled Who Understands SaaS

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

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

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

Indinero approaches every shopper relationship with a customized strategy. When it got here to Lumavate, the crew was assigned based mostly on industry-specific experience that may 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 companies throughout varied 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 progress from a startup to a division of D&M Holdings. With a level in accounting from Indiana College Kelley Faculty of Enterprise, Nicole’s experience and energetic 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 position. This deep understanding of Lumavate’s enterprise mannequin, historical past, and objectives made her the proper 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 crew.

Colleen McLaughlin, Director of Enterprise Operations, Lumavate

The Outcomes: The Insights of a Full Accounting Group 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 below 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 techniques at Lumavate. From there, she continued to work as a trusted companion, equipping Colleen with the knowledge she wanted to maintain the board and CEO knowledgeable. 

Offering long-term schooling and confidence 

There’s worth in having a long-term, trusted companion 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 complete crew of specialists, all inside finances

Nicole is Lumavate’s main level of contact, however she’s not the one monetary skilled from indinero that’s consulted with the corporate. Usually, in the event that they want perception from a unique advisor, Nicole will carry one in every of her indinero colleagues to a gathering with Lumavate to verify their questions are answered. 

Indinero has been such a fantastic companion 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 companies 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 once they solely wanted somebody who might help in a advisor’s capability. 

How might an Indinero skilled change your small business? 

Indinero’s crew of economic specialists 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 immediately

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