Yggdrasil Financial LLC

BACKGROUND

Introduce your business and what you do there.

I’m the founder and president of The Berkner Group, a recruiting firm doing executive and technical search.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Yggdrasil Financial LLC?

We wanted to get more financial control in place.

SOLUTION

What was the scope of their involvement?

They work on various aspects of our financials, including cash flow management, margin analysis, accounting and bookkeeping. We started off by cleaning up the books and getting the balance sheet in order. From there, they helped us get invoicing in place through QuickBooks. They help prepare invoices and collate all of the data, since they’re a bit tricky in our business. In order to make the invoices more appealing, they also reformatted them. 

They built a cash flow forecast model for us after off-the-shelf solutions didn’t work for our needs. They built it to our exact specifications and customized it for our particular business. They update our cash flow forecast every week. They also implemented a Quick Base system for time and metric tracking that we provide to our clients. 

We do monthly P&L (profit and loss) statements and reviews. They also created a margin calculator both on a project basis and weekly basis, since we look at hourly rates and project estimates while keeping our margins higher.   

What is the team composition?

We’re just dealing with Tine (Principal).

How did you come to work with Yggdrasil Financial LLC?

We found them on Upwork. We interviewed a few different options but Tine was definitely the most educated and trained person I spoke with. She was flexible and easy to work with so I went with her. 

How much have you invested with them?

We’ve spent about $7,500.

What is the status of this engagement?

We’ve been working together since June 2019 and our relationship is ongoing. 

RESULTS & FEEDBACK

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

It’s night and day going from how we were trying to keep up with everyone in-house to now having their support. Having their support has made a tremendous improvement in managing the financial aspect of our business. 

How did Yggdrasil Financial LLC perform from a project management standpoint?

We don’t use any project management tools but Tine uses Google Task Manager. Whenever I give her a task, she keeps track of it and keeps it done. We mainly communicate through our weekly meetings or email. 

What did you find most impressive about them?

Tine has a remarkable combination of education, knowledge, and impressive flexibility. She has a deep knowledge of the accounting industry. She is willing to do things our way but keeps us on track so we’re doing everything correctly. They’re very flexible and capable. Their knowledge is very deep around accounting, finance, and taxes. 

Are there any areas they could improve?

No, everything they provide for us is going great. 

Do you have any advice for potential customers?

Don’t underestimate her ability and ideas. Ask for their perspective and advice on what should be done and how to do it. Don’t just tell her what to do and how to do it.