SUCCESS STORY

Kantata Helps Hero Digital Achieve 90-Day Financial Forecasting Accuracy

Hero Digital is a leading independent customer experience company focused on holistic processes and integrated methods that help leading brands achieve growth.

hero

40%

Faster Month-End Accounting Close

90 Day

Financial Forecasting Accuracy

INDUSTRY
Advertising/Marketing/Media
CLIENT
Hero Digital
WHAT KANTATA REPLACED
Google Sheets (for forecasting/accounting close)

The Challenge

Hero Digital’s continuous growth created a need to accurately and efficiently forecast revenue. However, forecasts for custom contracts, such as T&M, fixed fee and retainers, were difficult to create. Hero’s project and accounting teams spent an extraordinary amount of administrative time forecasting and recognizing revenue via manual spreadsheets. As a result, Hero sought out Kantata.

The Solution

Accurate Forecasting

Hero Digital needed to replace manual data analysis in forecasting. Supported by the Kantata BI team, Hero aligned core EAC and revenue metrics with business processes. Project accounting records captured actual revenue for contract specific resource data-based forecasts congruent with revenue recognition rules.

Solution Scalability

Hero Digital’s expansion required scaling financial reporting. Kantata’s technical services team integrated Hero’s core metrics, resourcing and project data with NetSuite’s revenue module to automate sales orders and fulfillments, creating accuracy and consistency.

Accessible Data

Hero Digital no longer depends on complicated spreadsheets to analyze critical business data. Kantata provides needed revenue, project burn, cost, margin and other relevant data.

Benefits

  • 40% faster month-end accounting close
  • 90-day financial forecasting accuracy
  • Percent complete calculation includes revenue actuals
  • Custom revenue metric capturing all contract types

“Our forecast metrics are so accurate that sometimes I feel like a fortune teller.”

Mandee Miles

Director of Client Finance, Hero Digital

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