HackerEarth uses Bluecopa to standardize reporting and accelerate business decision-making with real-time insights

Description:

HR Tech platform that helps companies with technical hiring, talent scoping and upskilling.

HQ:

India

Founded:

2012

Industry:

SaaS

Use Cases:

Reporting Automation & Data Reconciliation

The Challenge

With a stable month-on-month growth and retention, the SaaS platform was finding it really hard to consolidate data from 4 different data sources and build a unified dashboard.

The FP&A team were struggling to build cash balance scenarios with weeks-old data thus preventing them for making decisions. When diagnosed, the VP of Finance noticed that the problem was three-fold,

“Our data resided on spreadsheets that adds to silos and a lot of errors. Taking data from multiple sources to consolidate and infer something was time consuming as well. The team were exhausted every month simply doing this.

- Tarun Mallappa, VP of Finance.

Not able to connect the Accounting, CRM, Billing and Marketing data to a single system

No real-time visibility into the key metrics due to excel dependancy

Delay in making financial reports thus making outdated decisions

As a result, the team's bandwidth was choked thereby forcing them all to majorly work on the monthly close.

The Solution

To resolve the problems, the VP decided to implement Bluecopa with a set outcome in mind.

A unified Financial health dashboard was set up with data fed from all their Finance tech stack. These metrics and trends update in real time thus enabling the leadership to quickly analyze them and make decisions.

The Leadership were enabled with early warning signals, real-time alerts and notifications for business critical metrics like gross & net revenue, Customer Acquisition Cost, LifeTime Value and others.

Upon implementing this, the CFO saw results improving within six months and is now looking to solve his next problem building projections and scenarios using Bluecopa.

“What Bluecopa, we were able to consolidate data all in one place, with a click of a button. We have completely moved away from spreadsheets to an extent that 90% of our reporting is automated, in the FP&A specifically. Automations & time-to-report were two big advantages for us.

- Tarun Mallappa, VP of Finance.

The Outcome

90% of the reporting process automated

Saved 120 hours every month using automation

Data consolidation and recon with the accuracy of 100%

The Conclusion

The company’s rapid growth had their Finance team play catching up. With faster customer acquisition and renewals happening every month, the Finance team struggled to collect and consolidate to infer insights for making business decisions. Using Bluecopa, the team tracked metrics, monitored trends and built necessary dashboards to enhance the team's efficiency thereby enabling the leadership with faster financial outlook of the business.

Shift gears to proactive finance operations, today.

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