Brian Galvin, the VP of finance at CoderPad, knew the company needed to upgrade its financial management platform as it pursued rapid growth and international expansion.
QuickBooks was sufficient in the early days at CoderPad, which offers a technical interview platform today used by over 4,000 customers globally to streamline recruitment of engineering and software development professionals.
“When we acquired a business in France, we very quickly outgrew our QuickBooks instance,” says Galvin, who shares CoderPad’s inspiring story with me in this on-demand video. “We needed something more high-powered that could handle global consolidation and multicurrency accounting, and deliver better reporting.”
That “something” was Sage Intacct, proving to be the ideal solution for San Francisco-based CoderPad. In just a few years, CoderPad has:
- Grown revenue nearly 4x
- Expanded the workforce from 10 to over 80 people
- Reduced monthly close time by 66%
- Reduced days sales outstanding (DSO) by 25%
- Shifted from 80% operational/tactical accounting to 80% strategic finance
- Maintained a lean accounting and finance team
“If we didn’t have Sage Intacct and the tools we’ve plugged into it, my team would probably be two to three times the size it is now, at significantly higher cost,” says Galvin, who joined CoderPad in 2020 after previous accounting and audit roles at companies including Yelp, Salesforce, EY, and PwC.
A ‘No-Brainer’ Selection for Financial Management
Straight out of the gate, Galvin knew that Sage Intacct checked all the boxes for CoderPad.
“I had never used Sage Intacct before, but I know a lot of people in the industry who do and speak very highly of it,” Galvin says. “It was really a no-brainer. I knew Sage Intacct would be the best system for our immediate needs, and that it could scale over time as the business got larger.”
Galvin says Oracle and Workday, which he had used at prior companies, would be too big and expensive for CoderPad. Demos of Oracle NetSuite and Sage Intacct made clear that the Sage product was more user-friendly and intuitive.
With implementation by Armanino, a top Sage Intacct partner, CoderPad quickly began reaping the rewards of its new cloud-based platform.
‘Huge Time Savings’ in Order to Cash
With automation and multi-entity accounting, CoderPad has reduced its monthly close time by 66%, from about 30 days down to 10.
“Creating a process to do a 10-day close at a high-growth SaaS company is fantastic, so props to my team for helping make that happen,” Galvin says. “We’re able to get information to our internal and external stakeholders on a more timely basis, and we’re able to handle a significantly larger volume of transactions with the same size team.”
CoderPad is saving more time by eliminating manual work in the order-to-cash cycle with a tech stack that includes Sage Intacct, Salesforce, and an Ordway application used for billing and revenue recognition.
“Automating order to cash through integrations with Sage Intacct has been a huge time savings,” Galvin says. “I’m spending significantly less time on operational accounting and more time on strategic finance. That allows me to partner with a lot of internal stakeholders, particularly our chief revenue officer (CRO).”
Strategic Partnerships Boost Revenue
Teaming up with CoderPad’s CRO is generating strategies that help sales reps improve their effectiveness, unleashing new revenue for the business.
“I partner very closely with our CRO to help her scale the sales team,” Galvin shares. “We work to drive efficiency in the sales process, and to create compensation plans that can scale with the business and incentivize our sales reps to drive as much value as they can.”
Galvin adds, “Without Sage Intacct automating a lot of our process, I just wouldn’t have the time to spend there.”
With newfound time through automation, Galvin says he’s shifted his focus from 80% operational/tactical accounting to almost 80% strategic finance. “Partnering with the CRO and other departments is really where I can drive the most value for the business,” he notes.
Speeding Cash Flow with DSO Down 25%
Automation is also decreasing DSO roughly 25% to date, aided by automated dunning that prompts customers to pay bills promptly. That’s sparing Galvin’s team from days of reaching out to late payers with emails or phone calls while substantially accelerating cash flow.
“It gets cash into the business much more quickly, where we can deploy it into strategic investments that help us grow,” Galvin says.
A top focus for Galvin is embedding scalable processes throughout the tech stack that can accommodate CoderPad’s ambitious growth objectives.
“Building out scalable processes is absolutely number one,” Galvin says. “When we double the size of our business, I don’t want to have to double the size of our support teams. Creating processes with flexible systems that talk to each other is the number one way to do that.”
Easy Reporting and Best-of-Breed Integrations
CoderPad is saving even more time with intuitive reporting in Sage Intacct, versus exporting data to Excel for analysis.
“One thing I love about Sage Intacct is how easy the reporting is,” Galvin says. “Compared to previous systems I’ve used, all my reporting is right in one place. I love being able to start high level, almost an SEC-esque P&L, and drill down into G&A expenses very quickly.”
Reporting will get a further boost as Galvin looks to incorporate FP&A technology into his tech stack, which also includes solutions like Avalara for sales tax, Slack for purchasing, and Teampay for a virtual credit card program.
“Sage Intacct has allowed us to lay a foundation around it without having to worry if something will integrate nicely,” Galvin says. “You always know integrations with Sage Intacct are going to work and remove part of your manual processes.”
Galvin strongly suggests that other SaaS companies evaluate Sage Intacct as they look to drive growth.
“For anyone in our position of a few years ago, if you’re looking to automate processes and free up time to work on strategic finance rather than operational accounting, I highly recommend Sage Intacct,” Galvin says.
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