Brief Client Description
- Linea Energy – https://www.lineaenergy.com
- Industry – Renewables Development firm (additional business but this will focus on the renewables development entities
- Size / type of business – Renewables development entity which focuses on development land for renewable construction
- Core financial pain point – Challenge tracking project spend and budgeting at a cost code level. Needed the ability to both create project level financials as well as forecast future sources and uses of capital related to their renewables development.
- The client initially engaged us and we provided accounting and Planning back office services as well as the technology infrastructure (accounting, planning, integration solutions). Also technology guidance as they grow their business and enhance their solution connectivity and tool sets for the operational teams connected to the financial teams.
- Additional Focus – Need CFO recently came on board and we are helping them plan their next level of system integration and automation to further streamline their growing business
The Challenge / Pain Point
Financial/operational challenge before outsourcing: They were a start up which receive a large amount of start up capital to build out a renewable development company. They had no infrastructure for producing financials, (project or business) or forecasting at a project and cost code level
How it was affecting their business (time, accuracy, stress, cash flow, etc.)- Lack of visibility in projects or forecast spend to their investment partners
- Hours spent producing information on spreadsheets
Why They Chose Us
- What stood out about our service vs. doing it themselves or hiring in-house
- WE had team members which understood system design and integration, financials, and planning approaches and models all working under one standardized approach of Heno System Methodologies
- Did not have the skill step to design or build or manage the complex infrastructure they needed.
- Needed the environment built out quickly enabling their detailed reporting and forecasting needs
- We understood their business needs based on experiences in professional services and renewable energy industries
- Specific strength (expertise, technology, responsiveness, cost efficiency)
- Rapidly deployed completely connected financial and planning environments
- Experienced accounting team which picked up and managed and cleaned their books immediately with no ramp up time
- Cut bookkeeping time by 75%
- Reduced accounting costs by 40%
- Gained accurate monthly reporting for the first time
Key Results / Outcomes
- Accuracy improved – Were not able to deliver clear financials and forecasts to their investor partners timely until we begin managing their processes
- Time saved – significant time saved on the design management and running of their financial and planning system due to our teams deep understanding of the designs and technologies
- Cost savings – Over 70% decrease in developing and managing their technology systems as well as reduction in accounting/planning personnel due to the technology efficiencies gained in their connected system and streamline accounting/planning processes
- Better financial decisions – Visibility in actuals and forecasted plans have enable continual investment to grow their renewables development firm
- Scaled team / grew revenue – Kept financial team and planning teams small as they firm continued to grow as they leveraged our fractional services across a wide range of skill sets. Our team is also very nimble in leveraging technology to drive efficiencies eliminating the need for additional personnel
- Peace of mind – Our team handles the financial and planning processes and they know that they have coverage even during vacations or unplanned absences of employees because of our teams knowledge of their business and processes.