With signiﬁcant growth, Sidney Reche Galdeano, founder and CEO of Reche Frotas, needed to raise funds for its expansion and maintenance. Thus, his challenge was to follow strict internal planning and bring more transparency to information about the company's financial health.
“As an entrepreneur, I was aware of the importance of the balance sheet to the business. However, the monthly closing took its toll on the finance team. Accountfy came to solve this issue. Now, we can allocate these people to strategic activities instead of having them complete spreadsheets or correct formulas.”Sidney Galdeano Founder and CEO, Reche Frotas.
We must have well-structured financial data to make decisions more assertively and raise funds.
With Accountfy, Reche Frotas gained more confidence concerning the figures when raising funds, achieving better payment conditions and reduced interest rates.
Through Accountfy’s closing module and generation of management reports, the company could advance the launch of quarterly results with financial institutions to obtain credit. The rich information in the automated reports also contributed to the company’s increased reliability and more collaborative management with its stakeholders.
Thus, knowing the need for credit for the coming years is one of the main advantages concerning the optimization of resources.
"With Accountfy, we upload the ledger to the platform. It generates the financial statement and then we transform it into panels and graphs that make sense for our business. As a result, we increased our leverage by 30% and reduced our interest rates on the company's loans by 10-15%."Sidney Galdeano Founder and CEO, Reche Frotas.
With all the fixed assets (vehicles, garages, etc.) achieved over time, Reche Frotas found it necessary to have efficient operational and financial control of the company to manage its expansion.
After investing in a team focused on maintaining financial management, the challenge became the consolidation of information since the procedure required a lot of time from the team, as they had to export several reports into spreadsheets. In addition, the team also faced the risk of errors capable of breaking an entire chain of calculated cells.
Now, the team relies on our information review workﬂow, communicating among themselves within the platform, registering review comments, and correcting figures directly in the ﬁnancial statements
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