Learn how data analysis platform, StarLifter, partnered with Decimal to expertly handle its bookkeeping needs and streamline accounting operations. CEO Jana Brost reveals how this strategic decision has allowed her team to focus on enhancing their platform and delighting customers.
StarLifter is a data analysis platform that has been described as a more cost-effective and quick-to-implement alternative to BI. Like all companies, the preference is to focus on enhancing the platform, growing the customer base, and delighting their customers rather than learning the nuances of bookkeeping. To accomplish this, the team knew that they needed outside help to handle the bookkeeping services.
Having worked with Decimal in the past, the choice was obvious.
Revenue recognition can be challenging for SaaS companies, especially if incorrectly classified. With this in mind, Jana Brost, StarLifter's CEO, wanted external support. She mentions, “When setting up deferred revenue schedules and more complex accounting operations, it is best to work with a partner like Decimal.”
By bringing in Decimal at the start of the company, StarLifter was able to build the ideal accounting processes with a solid foundation as opposed to trying to fix a challenging accounting scenario later on after scaling. Jana continues, “When I think about compliance-oriented tasks, those are the first ones I outsource. I want to work with partners because there's no value to the business for me doing bookkeeping. I chose to spend the money partnering with Decimal early on.”
When a company decides to outsource bookkeeping, they often assess companies to see who will provide accurate and actionable financial information as well as proactive customer service. Solely handling bookkeeping without improving processes is a common theme with alternative providers. However, Jana mentions, “My search was short, I had a positive experience with Decimal in the past.”
When looking at how to deploy resources across the growing business, Jana says, “It was a no-brainer decision to hire Decimal,” especially when the partnership worked so well before.
Jana mentions, “Decimal made it really easy to get started and get the accounting and bookkeeping functions working.” The implementation started with a review of StarLifter’s processes and preferred ways of operating the business. From there, Decimal reviewed previous transactions and completed the exercise of categorizing and tidying up the historical financials by correcting categories and connecting receipts.
With Decimal’s robust partner network, the StarLifter team connected with vetted and reliable partners to build a comprehensive solution to financial operations. As a result, the ideal solution was built based on the needs of the StarLifter organization to tackle their exact accounting needs with the strongest set of skills from each respective organization.
Jana says, “The thing that really stands out to me is Decimal understands the demands on a CEO. Decimal understands that the best thing they can do is make things seamless and give us the information we need at the right time.” So when there is a board meeting or when numbers are needed ASAP, Decimal jumps in to get the financial information to keep driving the business forward.
By handing over the bookkeeping services to Decimal, Jana and the StarLifter team can focus on more significant priorities. With the compliance related-tasks sorted, Jana says, “I am able to focus on product development, delighting customers, and generating pipeline” instead of wasting time on repetitive bookkeeping tasks.
When everything runs smoothly, it makes the partnership that much easier. Jana joked, “To be honest, I’m a boring, happy customer.”
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