Finmodelslab

BACKGROUND

Please describe your company and your position there.

I’m the founder and CEO of a granite and quartz countertop provider.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Finmodelslab?

I needed to develop a financial dashboard for my business.

What were your goals for this project?

Ultimately, I wanted to see a monthly financial picture through this dashboard.

SOLUTION

How did you select this vendor?

Following multiple online searches, I found three companies with experience in working with a company’s financials. After interviewing each, we chose Finmodelslab for the quality of their services. They seemed like the best fit for our project.

Describe the project in detail.

We started the engagement with a clear conversation where we detailed our goal for the project. Using this information, Finmodelslab built our dashboard with a simple and effective design. Their team continues to provide support if we run into an issue.

What was the team composition?

I was in contact with one representative form Finmodelslab.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

The system provides a snapshot of my company’s key financial elements, which is exactly what I wanted.

How effective was the workflow between your team and theirs?

Finmodelslab was time-oriented, communicative, and available whenever we reached out.

What did you find most impressive about this company?

I appreciated the level of dedication, knowledge, and innovation their team brought to the engagement. They were very skilled both in terms of technical capabilities and creativity.

Are there any areas for improvement?

I’m satisfied with the experience.

BACKGROUND

Please describe your company and your position there.

I am the founder and CEO of a software as a service (SaaS) healthcare startup. 

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Finmodelslab?

We have a small in-house team but were looking for assistance in building a financial model to prepare for our seed round. 

What were your goals for this project?

We wanted a comprehensive financial model developed to the smallest details of our business with five years of projections, analytics for SaaS metrics, a capitalization table, and a streamlined, consolidated dashboard for easy tracking.

SOLUTION

How did you select this vendor?

Finding the right resource with whom we could feel comfortable communicating and would be flexible with ongoing changes and modifications was paramount. We selected Finmodelslab after an extensive online search and interview process on various platforms, including Upwork. 

Describe the project in detail.

They immediately initiated a discovery phase in order to better understand our business model, objectives, and challenges, then we agreed on milestone deliveries and timelines. Finmodelslab was committed to the highest quality of deliverables and adhered to all deadlines. 

What was the team composition?

I worked primarily with Henry (Business Modeler, Finmodelslab).

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

The deliverables exceeded my expectations.

How effective was the workflow between your team and theirs?

Henry provided easy and flexible communication, whether via Google docs, online meetings, or messaging, that did not interrupt my personal workflow or schedule and was always available for short-notice calls. He understood my time constraints and acted accordingly to make the reporting simple, accessible, and self-explanatory, such as submitting a video with every milestone to clarify his work.

What did you find most impressive about this company?

Finmodelslab has impressive technical knowledge of SaaS finances and economics.

Are there any areas for improvement?

None that I can think of. I enjoyed working with Finmodelslab.

BACKGROUND

Please describe your company and your position there.

I’m the co-founder and CEO of a homecare company called Kleos Healthcare Corporation. We provide world-class physiotherapy to patients and customers at their homes.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Finmodelslab?

We needed resources to develop a comprehensive financial model that included a sensitivity analysis. Because we needed to present the plan to potential investors, the model’s presentation was critical.

What were your goals for this engagement?

With the financial models, we wanted to understand our numbers in terms of costs, revenue, and profit. The model would be essential in comprehending our business potential and the risks involved.

SOLUTION

How did you select this vendor?

We researched multiple qualified agencies online before finding Henry’s (Owner, Finmodelslab) profile on Upwork. His high ratings and portfolio made him a perfect match, so we sent an RFP along with our budget.

Describe the engagement in detail.

Henry easily comprehended the project requirements and produced a neat financial model. Upon receiving the model, we requested some modifications, which he promptly fixed. Henry also provided several explanatory videos to walk us through his calculations step by step.

Describe their billing or cost structure.

We deposited the agreed amount through Upwork. Finmodelslab received the payment after completing the project.

What was the team composition?

We worked primarily with Henry, who had extensive knowledge about developing financial models.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

The model helped us better understand our business, and the quality and timing of the work far exceeded our expectations. Henry completed the first draft within three days, explained his logic and process, and delivered the final model in under a week. It took us some time to understand the model since it required complex calculations. However, we appreciated the level of detail provided.

How effective was the workflow between your team and theirs?

The workflow was robust, and Henry always responded promptly. His explanatory videos were particularly helpful, keeping us on the same page while reducing the delivery time. Even after the project ended, Henry was still happy to answer any questions.

What did you find most impressive about this company?

Henry and his team are experts in their field. Their work allowed us to understand our business and identify steps to reach our financial goals. Furthermore, the quality of the model helped us present our business to potential investors.

BACKGROUND

Please describe your company and your position there.

I am the CEO of a startup in the technology space.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Finmodelslab?

We hired Finmodelslab to create a fully developed five-year plan, which included all aspects of our revenue and expense model, including investor forecasts, capitalization table, and debt adjustments.

What were your goals for this engagement?

We needed to develop a plan that we can easily communicate with team members and potential investors and partners.

SOLUTION

How did you select this vendor?

We posted an RFP on Upwork and hired four companies to work on this project with similar costs. Finmodelslab had the best delivery by far compared to the other vendors, and we selected them to expand the model.

Describe the engagement in detail.

They took a high-level plan we created and translated it into a fully adjustable model in Excel. The model can be used to easily project different business plans and present them to partners and investors.

Describe their billing or cost structure.

Their billing was milestone-based.

What was the team composition?

We worked directly with a project manager.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

The model they delivered was a beautiful Excel file that contained dashboards and summaries for simple cost of goods sold line items and cap table evolution, among others. We have used the model to ideate and brainstorm directions and present outcomes to investors and partners. Everyone was very impressed by the work.

How effective was the workflow between your team and theirs?

It couldn't have been any easier. I’d estimate that 80% of the job was completed in less than a week, and we continued to make small changes for the next two to three weeks. They were mindful of clarifying certain points of our proposal, and they delivered the plan in stages. It was a simple and time-efficient engagement.

What did you find most impressive about this company?

I was blown away by how well they translated the basic scope into complex and aesthetically pleasing graphics.

Are there any areas for improvement?

No. They capably completed everything we asked of them.