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Seed stage companies and small businesses may not have the resources to hire a full-time CFO, however, they do not have to go without strategic financial advice. Salient, an early-stage software company, wanted a vCFO to help build a financial model and forecast so they could better understand their cash runway.
They needed to identify the impact of hiring additional team members, obtaining grant funding, venture debt, and landing customer deals. Not only was Salient seeking a vCFO with a modeling tool sophisticated enough to run side by side scenarios, but they needed a customized approach – that’s where Wolf stepped in.
Partnering with Wolf & Company’s Outsourced Accounting and Finance team was exactly what we were looking for. They are much more than accountants; they provide guidance and are available to talk through decisions that impact our business.
Matt Stein
CEO and Co-Founder, Salient Predictions
Solution
Wolf’s experts worked hand-in-hand with Salient to customize their financials and chart of accounts. Our team also worked with the executive team to understand Salient’s specific reporting needs and performance metrics to prepare a detailed forecast, and model four cash flow scenarios over 24 months. After attending board meetings for forecast feedback, our team makes updates and thoroughly reviews the sales pipeline and its use within the financial forecast.
Wolf’s vCFO also assisted Salient in reviewing draft venture debt agreements, providing insights and recommendations on areas that may be negotiable. We offered guidance in preparing and reviewing their 409A, implemented a new credit card and spend management tool, and customized our vCFO services to help Salient optimize their back-office.
Wolf’s solutions helped the executive team understand the financial impacts of their operational and sales decisions.
Salient gained a holistic view of their cash flows and timing of their Series A raise.
Our capable outsourced accounting and finance team provided confidence and stability to the executive team of a growing company.
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