Rain had built an excellent product and had consistently growing recurring revenue with what they believed were good underlying economics. The data supporting their belief wasn’t easily accessible, and they needed a partner to help define and build the systems and procedures to give them the reliable information they required. Rain’s leadership team believed in developing relationships that fit their culture and that could bring valuable strategic thinking as a true partner.
Rain selected Advanced CFO and one of their CFOs to quarterback the finance and accounting team and processes. Advanced CFO began with an assessment of the team and practices that were leading to less than reliable information. The Rain finance team and Advanced CFO worked together to improve procedures that have led to consistent, reliable, and timely financial reporting. Advanced CFO also led the implementation of a data analytics tool that provided the company with industry-standard software metrics to measure their business.
Once the time was right in Rain’s growth cycle, Advanced CFO assisted with the hiring and selection of a full-time senior finance professional. Despite hiring their own replacement, Advanced CFO remains an advisor to the CEO, and is regularly involved in other strategic and operating discussions.