Mobile tech company engages CFO solution, saving $200,000.
Award winning Motive Interactive (Inc. 500) CEO, needed help to manage the company’s explosive growth from $20 million to $30 million in revenue. The incumbent CFO was doing an excellent job with tactical-level duties and needed a helping-hand to reduce expensive financing costs and design and implement a more efficient accounting system integration including a metric-based financial reporting routine.
The CUSTOMatrix CFO solution began with the thoughtful dialogue with the Motive CFO to identify the obstacles in his agenda. A part-time controller was brought in to design and implement an automated key performance indicator (“KPI”)-based financial reporting routine. The consulting-CFO led a team of custom software engineers who designed and implemented a QuickBooks Enterprise-Filemaker integration to reduce invoice-to-customer time by three weeks. Together the CEO, staff CFO, and consulting-CFO successfully sourced and consummated a financing arrangement with a new banking relationship that eliminated the need for an expensive accounts receivable factoring arrangement.
In addition to saving the company over $200,000 annually, in leading the effort to secure a new $5 million financing, CUSTOMatrix provided their operations and accounting team with support throughout the process. We met with the operations director and senior vice president of sales, who manages customer acquisition, to provide one-on-one support as the company continues to grow with the internet’s mobile market demand. Our team also completes a monthly review to ensure the reporting process runs smoothly. As a result, Motive continues to concentrate on its creative success with brands such as Uber, Lyft, BlackBerry, and Disney, among other international brands.
About Motive Interactive
Headquartered in San Diego, this technology company is a leading service provider of mobile brands such as Pandora, Spotify, Uber, and Lyft. They are a world-leader in the service that they provide and are growing at a rate that parallels the great innovation of the mobile internet market. This strategic partnership allowed the company to introduce mobile services innovation to the U.S. and international marketplace.
The business we have today is totally different than what we had in 2003. When the global economy started to implode, we survived because we were lean enough to survive. We got leaner. You have to be able to move quickly. CUSTOMatrix helped Motive rise to the next level with high impact solutions and significant ROI.
Brendan Smith, CEO