Crowdence: Automating weekly and monthly financial reporting to investors for optimized traceability

Using Sheetgo, Crowdence saves around one working day every month with an automated financial reporting system that creates weekly and monthly cash flow reports to send to investors.

As a result, Crowdence has a reliable financial reporting system, with full control over private data.

Manually reformatting multiple monthly reports for investors

• Incompatibility between Crowdence and client tools
• Manually importing account data into their system
• Time-consuming process to manually reformat client reports

Crowdence handles all manufacturing, payments, and shipping of their client’s products. This service includes managing their financial reports. Crowdence uses Holded, a financial software, as a destination for all sales and expenses. The system allows users to visualize other reports, such as management accounts, but it does not generate them.

The Crowdence team had to download the client accounts, transform the data and import it into Holded, every month. Generating investor reports was even more cumbersome. The investors don’t use Holded, so they require a spreadsheet report.

On top of this, their accounting reporting format is not the same as that of the company. Because of this, Crowdence had to download the data, transform it, enter it into the investors’ template and send it, every month.

Crowdence decided to get in contact with Sheetgo to stop this complex process and find a solution that would automatically generate investor reports for them, whilst giving them complete control to continue using Holded and keep specific data private.

Seamless cashflow reporting using Sheetgo

• Custom-built cash flow management solution
• Filter only investor-related financial data
• Automated weekly and monthly cash flow reports

With Sheetgo, Crowdence has been able to find a way to automate financial report generation whilst still using their financial tool, Holded.

Once the Holded data is transferred to a spreadsheet, Sheetgo connects to this file then uses the Filter feature to transfer only the data investors need to see. This data is sent to a monthly and weekly spreadsheet ready to be turned into reports.

Crowdence uses the cash flow management solution by Sheetgo to automatically generate weekly and monthly cash flow reports inside Google Sheets, which can then be shared with each investor.

Crowdence also uses the smart automation feature to create a custom schedule to update the workflow so that all their financial data is updated and turned into reports without the team having to lift a finger.

Saving 1 day per month to focus on revenue

• 60 hours saved every year
• 100% data traceability and control over private data
• Filtering data for end-users in a dynamic way

Thanks to this new financial reporting system, Crowdence now save around 1 day per month which they can now dedicate to increasing their revenue. Replacing the previous manual transfer of data and generation of unique investor reports.

The Crowdence team now has a completely self-sufficient workflow that has effortlessly integrated with their existing tools to transform the way they manage their client data.

Crowdence no longer has to struggle with manually finding a compatible solution between themselves and their end-users.

Their new, reliable solution means that all of their financial data is safe and secure inside a custom workflow that has the scalability to grow alongside their expanding business.