Posted by Charlotte Taylor on 24/01/19 15:25

Plan to growth

Why wait to plan better? Learn from the experts and invest in business planning tools which will support and grow with the business. Read the story of Karen Bach, who built a planning solution for KRM22 a fast growth company with big ambitions. 

Think less like a start up

Managing risk is what KRM22 do, so it makes sense that they reduced theirs by investing in a planning system which could growth with them.

Karen Bach, along with two fellow directors set up KRM22 in 2018. They had very little in revenue stream or employees. What they did have is bucket loads of investor confidence. So with a solid idea, technical know how and all the right commercial acumen they secured a stack of cash to grow the company.

The reason why this is such an unusual story is that KRM22 planned to grow. They invested in cloud based systems for sales, customer management, HR, Accounting, and Planning from the outset. The reason, well Karen Bach understands the value of having everything in one place. She also knew the company was set to grow fast through acquisition - and with that, would bring the messy business of integrating data, systems, processes and multiple sites.

 

A planning solution that grows with you

One of the beauties of starting from scratch is that you have a blank sheet from which you can design the right tech, systems and processes. No historical nasties to manage, or 'change projects' to manage your way through.

So with her blank sheet Karen knew that she wanted all her data to be cloud based, with a friendly interface and able integrate across systems. KRM22 chose cloud based HR, CRM, and accounting system. So when it came to looking for a Planning solution it had to be cloud, a friendly interface and tick the integration box. Adaptive Insights won on all three fronts.

Excel just didn't hack it

Karen had built her own forecast with balance sheet, cashflow and p&L information, this single view was essential to her being able to properly stress test her financial forecasts and growth models. Unfortunately when shared with her auditors, due to sheer size, the spreadsheet crashed, which rather focused her mind on finding a tool which could help.

interconnected diagram

On sealing the deal with Adaptive Insights it then came to putting the system in. Now as every fast growth company knows, time is in short supply, so with two acquisitions on her plate, Karen used a partner to take the strain.

Get your data in one place

Number one on the list was to integrate with their accounting system. Formulate, with strong integration experience built a Xero connector to make data accessible with no painful uploads. Along with this, Karen took advantage of Formulate's 'Integrated forecasting pack' to get her a 'one view' forecast up and running fast. So whilst the company handled acquisitions which brought with them 80 new employees and contractors across multiple countries, Formulate's Guy Maizels, with worked closely with Karen to build the complexities of their Adaptive Insights model.

Easy to learn and use

Karen had to learn the solution fast. To her credit and the software's ease of use, Karen managed to create 3 forecasts and reports in an evening from a standing start, with very little training, which is pretty impressive.

A few FAVOURITE things

Karen's favourite thing? Her personnel sheet, which she can share with all parties for them to update live - boom.

Her other favourite thing is being able to report in good old Excel. Adaptive's 'Office connect' means existing reports can be updated and populated with reliable data from Adaptive, providing continuity and seamless transition.

Less painful planning and reporting

So Karen's story goes to show there is no 'size' or rule' on when to invest in forecasting, planning and reporting in the cloud.

Finance teams are used to feeling and putting up with the pain for far longer than necessary, because their time isn't valued enough. What Karen's story shows is that rather than waiting for the pain you can 'plan' for growth. Investing in tools which automate the manual stuff, and give you a handle on your data, your planning, budgeting, forecasting and reporting will be a lot less painful and support growth.

More than that what the KRM22 story shares is that confidence, experience and an intelligent approach to growth, means the pitfalls of inaccessible data less than complete forecasts and easy to produce reports with fully integrated information can be avoided. So learn from those who've done it and don't wait until the spreadsheet fails or your investors stop trusting the numbers. Confidence starts with making the right choices early.

Take your first step to planning confidence today and speak to one of our senior consultants here.

In the meantime, why not join us for our lets talk finance event free lunch? Reserve your place here:

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Tags: Blog, Growth