A series C start-up tasked Eventus to act as its interim VP of Finance. Eventus enhanced and sped up reporting to provide key data to the new CEO, empowering him to make faster, data-driven decisions.
The outgoing VP of Finance of a Series C start-up that provides AI for pharmaceutical trials recommended Eventus to back-fill his position. We first tackled enhancing the financial model: providing better insight into profitability, enabling robust scenario planning, increasing speed and flexibility.
After achieving that goal, we focused on providing an accurate analysis of the fully loaded cost of sale by product. The client asked us to stay on as interim-VP Finance to help them through the scenario planning and general operations during the COVID-19 pandemic.
“The CEO immediately requested Eventus take over and improve the financial model, which at that point took 1-2 weeks to update with actuals.”
The CEO immediately requested Eventus take over and improve the financial model. The model took 1-2 weeks to update with actuals, mainly due to reliance on eight different data sources and pivot tables. We streamlined the entire process so all the data came from only one source; updating the model then took a day or two. We then
improved processes for sending out contracts which helped with both revenue recognition and profitability analysis. We also tackled additional management questions such as fully loaded cost of sales and understanding savings opportunities and under what scenarios the business should try to capture those savings.
Our work as VP Finance gave the tools to the organization to make informed, data-driven financial decisions to address the challenges wrought by COVID-19. The company continues to rely on Eventus to lead the finance operation and provide strategic insight.
