Looking at successful companies that have become key players in the market in 8-10 years and are already setting their own rules, it is hard to believe that they also started out small. Each of them has gone through a difficult individual path of development. But they all have one thing in common: they managed to establish financial management and overcome financial difficulties. 

From a Single Person to an International Company

«Sales Bureau» - is a prime example of a company “that has made it”. Now a successful international consulting company, back in 2016 it started its journey with one employee and three clients. Andrii's experience, knowledge and perseverance allowed him to scale the business. However, gaps in financial management prevented the business from growing fully.

Big Bills Don't Always Mean Big Profits

The company grew, new types of expenses, accountable persons, departmental budgets, new clients with new requests appeared. Drowning in the bureaucracy that was already at the company's doorstep was not an option. It was necessary to find an easy and effective solution that would allow us to systematise the mess of amounts and numbers.

I realised around the third year of doing business that if I want to earn more, scale the company, raise salaries for people, understand how much I personally earn, and have financial hygiene, I need to understand finance. Andriy Krupkin, founder of the «Sales Bureau»

The solution seemed obvious - to bring all financial sources into one system and streamline them.

By connecting Finmap and adding all the accounts, it was finally possible to relax — the funds in the accounts brought a sense of calm and hope. With such amounts, financial crises seem like fleeting concerns that immediately disappear when you look at the full capital.
However, for some reason, the problems did not disappear, and more and more often cash gaps destroyed the company's plans. 

We thought we had a lot of money because of the big cheques. But as it turned out, this is not yet profit. Andrey Krupkin, founder of the «Sales Bureau»

How to Tame Chaos and Cash Gaps with Finmap

Simply bringing all financial sources into one system was only the first step on the road to financial order. 

The second step was to manage receipts and write-offs, which were now in the palm of your hand. With Finmap, the cash flow process became transparent and understandable, which in turn allowed us to:

• completely abandon homemade signs;‍
• get rid of the chaos and confusion caused by these signs;
• unify and standardise financial management for all departments;
• control the movement of money in online time.

Andrey Krupkin, founder of the «Sales Bureau», shares his thoughts: 

If you don't use Finmap, you spend a million to a billion hours summing up all your inconvenient signs, where you can't even automate any processes. Finmap solves all these issues.

With each passing day, the situation became clearer and the company realised that without effective planning, the mess would not be completely tamed. Finmap's Payment Calendar came to the rescue, showing at a glance which days payments were expected from customers and when payments were due.

Thanks to the automatic calculation, the Calendar clearly shows when there may be a shortage of money to pay contractors or employees. 

So, after adjusting the payment terms and scheduled dates, cash gaps were crossed off the list of financial difficulties. 

Key Insights from the Sales Office

Rational planning and the P&L report finally answered the question of where the profit was, which was hidden among a large number of transactions. Thanks to the date of the transaction and the period of the transaction, it was possible to clearly identify the money actually earned not only in terms of the year or month but even the week. 

Having tamed the turbulent financial flows, the «Sales Bureau» was able to identify the following points with the help of ready-made financial reports:

• expense sources that need reduction and optimization;
• the most popular and profitable services;
• how to optimize accounts receivable;
• which business areas are growing the fastest;
• business areas that require updating and modernization.

How Finmap and the ‘Sales Office’ Are Currently Working Together

The company has now fully established financial management and automated this process using Finmap tools. Now all top managers, the COO and the founder of the company have transparent information that can be accessed from any device.

Andriy says that Finmap-based financial control has allowed him to formulate a more accurate sales strategy. 

Comparing the experience of accounting at the beginning of our business and now, I am sure that we have managed to reduce the time spent on finance by 50 times! Andrey Krupkin, founder of the «Sales Bureau»

You can also see for yourself by registering with Finmap. Set up and automate your financial accounting and don't waste time on routine