Graphite

BACKGROUND

Introduce your business and what you do there.

I’m the founder and CEO of a digital native B2C pantry essentials company.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Graphite - Accounting for Startups?

We hired them for accounting and finance when we started the company.

SOLUTION

What was the scope of their involvement?

Graphite - Accounting for Startups manages bookkeeping, tax preparation, and accounts payable.

What is the team composition?

We usually have 1–2 people working on our account.

How did you come to work with Graphite - Accounting for Startups?

I heard great things about them from other entrepreneurs.

How much have you invested with them?

We’ve spent between $50,000–$100,000.

What is the status of this engagement?

We started working with them in January 2018 and our partnership is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

We’re thrilled with their work. Since bringing them on board, I don’t have to worry about our accounting. They help us run efficiently.

How did Graphite - Accounting for Startups perform from a project management standpoint?

Communication is very straightforward, which is very helpful. We use email and spreadsheets to keep everything in order.

What did you find most impressive about them?

They’re always willing to jump on a call if we need to talk through something. They’re good at what they do and are very reliable.

Are there any areas they could improve?

I don’t think there’s anything they need to improve.

Do you have any advice for potential customers?

New clients should communicate openly with them. They should be able to leverage Graphite – Accounting for Startups for what they need. Their team is very flexible.  

BACKGROUND

Introduce your business and what you do there.

I’m the COO of Rebel Ventures, a marketing agency.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Graphite – Accounting for Startups?

Graphite –Accounting for Startups is filling a need we had internally. We were looking for dependable closes of our monthly accounting books. It was a mix of both accounting and bookkeeping support, along with basic finance and HR support functions.

SOLUTION

What was the scope of their involvement?

Their team is doing our bookkeeping. They’re managing our general ledger, accounts receivable, and account payable services. They’re dealing with our customers and vendors.

They’re managing our cash position and debt position, keeping us up to date on our liquidity. They’re also sharpening most of our employee benefits and exploring 401K plans for our employees.

They’ve also reviewed our books from previous years and making a note of anything that looks unexpected. In the future, they’re going to be working with us on new business planning, pipeline planning, and client level profitability reports.

What is the team composition?

I’m working with two people – an account lead and a day-to-day bookkeeper.

How did you come to work with Graphite – Accounting for Startups?

One of the investment funds we worked with in the past referred them to us.

How much have you invested with them?

We’ve spent around $20,000 so far.

What is the status of this engagement?

Our engagement with their team started in September 2020.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

The quality of the work is extremely high. Along with being great communicators, their team is dependable. They’re diligent, responsible, and reliable. Their team also has a great sense of humor.

How did Graphite – Accounting for Startups perform from a project management standpoint?

Along with a weekly meeting, we keep track of everything through Google Docs.

What did you find most impressive about them?

The team is incredibly experienced and responsive. They’ve handled a lot of situations.

Are there any areas they could improve?

No, not really. I don’t have any constructive criticism for them.

Do you have any advice for potential customers?

It’s good if you know what you need. They might not be the best fit if you’re figuring out what your needs are.

BACKGROUND

Introduce your business and what you do there.

I’m the CEO of Finmark, a startup that provides financial planning software. 

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Graphite - Accounting for Startups?

I hired them to keep our books up to date and I essentially outsourced all of my accounting needs to Graphite - Accounting for Startups .

SOLUTION

What was the scope of their involvement?

They handle our bookkeeping, accounts payable (AP), payroll, reconciliation, and more. The team also does tax preparation for us and they collaborate with us on planning. We’re a brand new business so 2020 is the first year they’re going to file our taxes for us.   

What is the team composition?

They provide a team depending on the service we require. One person is mainly responsible for AP. Another person runs payroll, bookkeeping, and reconciliation.

How did you come to work with Graphite - Accounting for Startups?

We conducted a bidding process and received bids from a couple of different firms, but I found that I could trust Graphite - Accounting for Startups the most. I’ve used them in my past company and I completely outsourced all our accounting to them. Most importantly, they had the most favorable terms. 

How much have you invested with them?

We’ve probably spent around $15,000.

What is the status of this engagement?

We started working with them in May 2020, and the work is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

It’s nice to not have to think about things and so far we’ve not had any issues with their services. 

How did Graphite - Accounting for Startups perform from a project management standpoint?

I don’t know what tools they use on their end and I think that’s one of the things I like the most, I don’t have to manage the project with them. I give them something and they get it done. There’s a trust factor between us where I know they can follow my requests.

I can set up a process once and never have to worry about it again — in reality, 'how often do people talk to their accountants?' I think most of us never do. We mostly communicate with Graphite - Accounting for Startups through emails and we also have periodic phone calls. 

What did you find most impressive about them?

To be specific, they understand startups and that’s super helpful. They’re not just a general accountant that doesn’t understand our business — they get us and get things done.

Are there any areas they could improve?

Not really, I don’t think they have any areas they could improve.

Do you have any advice for potential customers?

Build processes and handoff things. If you try to overly manage it, you won’t get the value of it. I think the best value out of this is that I get time back. I don’t have to think about things. The more mundane that you can let go of, I think the better off you will be. As a company, you can focus on more value-added stuff. Above all, look for ways to not overly monitor and figure out ways that you can just set up a process.

BACKGROUND

Please describe your company and position.

 I am the CEO of a software company 

Describe what your company does in a single sentence.

Blue Onion is the leading clean financial data platform and subledger built specifically for commerce and retail merchants.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Graphite to accomplish?

• Handle our accounting function

SOLUTION

How did you find Graphite?

Referral

Why did you select Graphite over others?

• High ratings
• Great culture fit
• Good value for cost

How many teammates from Graphite were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

Closing the books and AR collections and billing

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Putting in place systems, processes and procedures that would get us investor and audit ready

Describe their project management. Did they deliver items on time? How did they respond to your needs?

We love working with the Graphite team. They are always timely and communicative. 

What was your primary form of communication with Graphite?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

The people are great and extremely knowledgable 

Are there any areas for improvement or something Graphite could have done differently?

None

BACKGROUND

Please describe your company and position.

I am the General Manager of Rasa

Describe what your company does in a single sentence.

Rasa is an instant daily brew product line enhanced with unique adaptogen herbs that provide noticeable effects.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Graphite to accomplish?

• Accounting and monthly end close
• Financial Modeling

SOLUTION

How did you find Graphite?

Online Search

Why did you select Graphite over others?

• Pricing fit our budget
• Good value for cost
• CPG experience

How many teammates from Graphite were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

Graphite Financial has been serving as our Accounting and Finance partner since June 2023. They manage weekly invoice reconciliation and bill pay, monthly accounting close and financial modeling, as well as ad-hoc needs. 

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Bills are paid on time, books are closed accurately and on time and we can use the financial model for future planning. 

Describe their project management. Did they deliver items on time? How did they respond to your needs?

They're very easy to communicate with, great with details, and on-time with their deliverables

What was your primary form of communication with Graphite?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

CPG experience and their familiarity with our business and products. 

Are there any areas for improvement or something Graphite could have done differently?

We always welcome them to be more critical of our future forecasts

BACKGROUND

Please describe your company and position.

I am the Head of Finance of Rillet

Describe what your company does in a single sentence.

Rillet is the next-gen accounting platform for high growth companies.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Graphite to accomplish?

• Manage books
• Investor reporting
• Frac CFO

SOLUTION

How did you find Graphite?

• Online Search
• Referral

Why did you select Graphite over others?

• High ratings
• Pricing fit our budget
• Great culture fit
• Referred to me
• Company values aligned

How many teammates from Graphite were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

• Close books
• Investor reporting
• Model building
• Frac CFO miscellaneous

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Deliverables were on time and of quality in that I did not have to ask for rework. They quickly learned the ins and outs of my business and were able to provide what I needed. The Graphite team is kind, thoughtful, and exceptional at accounting and finance. 

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Deliverables were on time and any potential delays were clearly communicated in advance. 

What was your primary form of communication with Graphite?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

Graphite has worked with so many different businesses so they always had a quality recommendation for me based on my unique scenario. I could rely on their advise and guidance for accounting items like revenue recognition and board reporting. 

Are there any areas for improvement or something Graphite could have done differently?

Honestly none that come to mind. Would recommend the team to anyone without hestitation. 

BACKGROUND

Please describe your company and position.

I am the CEO of a software development company.

Describe what your company does in a single sentence.

We build hardware and software for the bio-manufacturing industry.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Graphite to accomplish?

• Financial discipline
• Closing the books on time
• Accountability

SOLUTION

How did you find Graphite?

Referral

Why did you select Graphite over others?

Worked with them before

How many teammates from Graphite were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

We use Graphite as our outsourced Accounting function

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Closing the books on time, accurately

Describe their project management. Did they deliver items on time? How did they respond to your needs?

They always deliver on time and are very responsive to what we need

What was your primary form of communication with Graphite?

Email or Messaging App

What did you find most impressive or unique about this company?

I've know the team for over a decade. High integrity people who deliver what the client needs.

Are there any areas for improvement or something Graphite could have done differently?

Not at this time.

BACKGROUND

Please describe your company and your position there.

Dashbot provides deep analytics for conversational interfaces such as chatbots & voice skills. I'm the CEO of the company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Graphite - Accounting for Startups?

We hired Graphite to manage all of our accounting needs.

What were your goals for this engagement?

Monthly financial accounting & other financial/accounting duties (e.g. handle PPP forgiveness process, generate invoices, etc).

SOLUTION

How did you select Graphite - Accounting for Startups?

They are associated with ff Venture Capital, which I am a team member of.

Describe the engagement in detail.

They do our monthly financials, generate invoices, handle the PPP forgiveness process for us, and any other financial/accounting duties we need to delegate.

Describe their billing or cost structure.

Fixed payment per month.

What was the team composition?

I have around 3–5 team members I regularly interact with from their side.

RESULTS & FEEDBACK

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

They've done a great job so far. The company is in a much better position financially thanks to their help and they have been very helpful with other duties that I need to delegate.

How effective was the workflow between your team and theirs?

Effective - communication is done through Slack or email and the response time is quick.

What did you find most impressive about this company?

Their efficiency in delivering what we need is impressive.

Are there any areas for improvement?

Not any so far.