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.
40%
Faster Month-End Accounting Close
90 Day
Financial Forecasting Accuracy
INDUSTRY
CLIENT
WHAT KANTATA REPLACED
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.”
Director of Client Finance, Hero Digital