Vistance Capital Advisory

BACKGROUND

Please describe your company and your position there.

Lunata Beauty is on a mission to free you from cords. We combine beauty with technology to revolutionize the hair industry by creating innovative, game-changing, cordless hair tools that will give you gorgeous hair wherever you are. I am the Co-founder and CMO of the company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Vistance Capital Advisory, and what were your goals?

We hired Vistance Capital with managing our day to day financial needs and be all things finance for our company. From accounting, projections, help with investor documents and questions and more.

SOLUTION

How did you select this firm and what were the deciding factors?

We selected the company based on amazing recommendations from trusted clients. We've heard great things about Daryl and his team from multiple people in our industry and in our network.

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

We hired Vistance before a big raise and needed their help to clean up all of our financials and make sure we were ready for due diligence. They also helped us with projections, investor documents and more. Once we raised our round they started to help with all of our financial needs.

Describe their billing or cost structure.

Monthly billing.

How many resources from the firm's team worked with you, and what were their positions?

3-4 people have worked with us from their team. From senior management to assistance. Depending on our needs.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

We were able to close a 3 million dollar series A with their help and really grow our business in a smart and financially sound way.

Describe their project management style, including communication tools and timeliness.

Great communication. We tend to have updates from the team via email and an organized team call when needed.

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

They really took the time to learn about our business, industry and needs before jumping to conclusions. They also knew just how important getting some of the documents we needed in a timely manner was when raising capital.

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

None I can think of.

BACKGROUND

Please describe your company and your position there.

Owner and clinic director of multidisciplinary health clinic.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Vistance Capital Advisory, and what were your goals?

Our previous accountants were not preparing our financial statements in an appropriate manner and we had goals originally to apply for loans to continue the clinic's operation during a pandemic.

SOLUTION

How did you select this firm and what were the deciding factors?

Reasonable, understanding and actionable plan that took a huge amount of work off our plate. They proposed ways to improve on the expensive and useless financial services we had received in the past.

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

Virtual meetings, described work involved to clean up past books so could apply for financing and what would happen ongoing. Financing was no available, but we kept on with them for future accounting maintenance and for margin analysis to help us improve our business.

Describe their billing or cost structure.

Monthly rate

How many resources from the firm's team worked with you, and what were their positions?

4: Daryl himself, senior accountant and 2 other points of contact.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

Within 30 days we switched to accrural system and that was better for us. We started making smarter purchasing decisions and improved our margins. They handled our taxes well.

Describe their project management style, including communication tools and timeliness.

Onboarding meetings were good. they're always available. We have quarterly updates and they meeting deadlines.

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

Financial expertise was helpful and some industry experience also lended to how we should be structuring our approach and accounting.

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

Clarity before beginning a project on projected scope and cost would be helpful if it's a one-off endaevour, and some online cloud/file management support would be helpful. Everything is great.

BACKGROUND

Please describe your company and your position there.

At Mindful Snacks, we are a full service provider of healthy snacks and coffee programs for corporate workplaces. We work with HR professionals to incorporate our programs as an employee benefit. As Founder and CEO, I oversee the strategy and growth across all teams.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Vistance Capital Advisory, and what were your goals?

We worked with previous accounting firms that were satisfactory but were not fully aligned to our needs or have a good understanding of what was required. We hired Vistance to take over and quickly clean up our accounting to the best accounting standards allowing us to focus on our operations and scaling the company.

SOLUTION

How did you select this firm and what were the deciding factors?

I connected with Daryl, Managing Partner of Vistance via LinkedIn. We set up a zoom call and Daryl took the time to really listen. Vistance was the right choice for us, based on his team taking the time to meet with our team to understand our business and listen to our challenges. We also appreciated their transparency.

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

Vistance spent the first couple weeks reviewing our financials and accounting structure. Together we took a deep dive in reviewing what was outstanding and what needed improvement. We appreciate the seamless communication via using Microsoft Teams.

Describe their billing or cost structure.

Vistance was flexible and offered a fair monthly billing structure.

How many resources from the firm's team worked with you, and what were their positions?

We work with one main point of contact, a Partner at Vistance along with two other accounting support team members.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

Within 60 days, the bulk of the accounting books was fully cleaned and caught up with best accounting structures implemented. This freed up immense time for our team, more so than any prior years when we worked with other accounting firms.

Describe their project management style, including communication tools and timeliness.

The onboarding process was simple and all communication, file sharing is done via Microsoft Teams. We hold weekly schedule calls to review the prior week's work and go over any questions we may have. There is no hesitations whenever we need help. We are able to connect with Vistance team anytime.

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

Vistance has some of the best accountants that we have come across. What was most impressive is they did exactly what they had set out to do. Nothing was overpromised. They had hard commitments for themselves and they delivered for us.

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

Nothing comes to mind. We have been very satisfied with Vistance's work. They place great emphasis on accountability and it shows. Keeps our team more focused and both parties work together to get the job done.

BACKGROUND

Please describe your company and your position there.

UpAuto is an automotive dealership consolidator. We currently have 4 car dealerships located in South Western Ontario, Canada.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Vistance Capital Advisory, and what were your goals?

Vistance was hired to initially provide monthly cash flow reporting and forecasting. From there, the project expanded to include accounting processes:

1. Policies
2. Book Keeping
3. Financial statement
4. KPI reviews.

SOLUTION

How did you select this firm and what were the deciding factors?

I had talked with Daryl about the challenges I was facing in my business, and through that dialog it became clear that his team could help us out in a meaningful way.

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

We met to review "where we were" with our current accounting resources and reporting outputs. Vistance identified some areas we could improve upon -- as well as some HR opportunities we should address.

Describe their billing or cost structure.

Billing was based on a monthly flat rate on estimated hours. If hours went beyond, there was a discounted hourly used for those incremental hours.

How many resources from the firm's team worked with you, and what were their positions?

We worked with one their key bookkeepers, as well as Daryl.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

We had immediate eyes on our cash flows -- and we identified opportunities to tighten up our bookkeeping. The results were as promised!

Describe their project management style, including communication tools and timeliness.

Tip to tale, it was a great experience. Great communication, great execution.

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

They delivered what they said they would. Today, so many professional services fail to do that -- and they then hide behind 'liability limiting' documents.

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

Everything went well.

BACKGROUND

Please describe your company and your position there.

Food & Beverage Sales, Managing Partner

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Vistance Capital Advisory, and what were your goals?

Evaluate cost modelling, and analyze financial statements

SOLUTION

How did you select this firm and what were the deciding factors?

Board of trade contact and several follow-up meetings prior to appointment

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

Various - mainly Excel modeling with experience in Quick Books required

Describe their billing or cost structure.

Hrly

How many resources from the firm's team worked with you, and what were their positions?

Two Owner and lead accountant

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

Gained valuable insights in to our business that had yet to be uncovered and will serve for better planning in the future

Describe their project management style, including communication tools and timeliness.

Very punctual and good attention to detail. All communication met the deadlines put forth. Very professional to deal with throughout the entire process

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

Ability to draw on in-house expertise to tackle distinct tasks. They're a good one-stop shop. If they didn't have an internal person to support their tasks, they have been able to refer to someone reputable. They're also really resourceful.

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

None worth noting