How MaestroQA Created a Sophisticated FP&A Function While Saving Over $300,000
“Mosaic allows us to keep the finance team to a minimum yet we’re still able to deliver sophisticated financial analysis to our founders and the board.”
Director of Operations, MaestroQA
MaestroQA develops software that powers customer loyalty. Its solution provides unfiltered visibility into what’s happening with support agents, customers, customer experience processes, and quality programs as it helps to coach agents, automate manual tasks, and collect strategic insights.
Supporting a Fast-growing Business With a Lean Finance Team
Since 2016, MaestroQA has been working to grow the company while keeping costs low. But as it surpassed several million in revenue and a dozen employees, it needed to add some financial visibility.
“The company was growing fast but wanted to keep hiring to a minimum,” explained Mike Nucci, Director of Operations at MaestroQA. “So, in early 2019, the CEO started using Mosaic to help. I was hired shortly thereafter to offload many of the CEO’s responsibilities including all financial planning.”
As MaestroQA’s one-person finance and accounting team, Nucci had to track the company’s financial performance, prepare budget reviews, and provide financial insights for the company’s co-founders and board of directors. But as revenue growth continued at a breakneck pace, and with its series A funding round on the horizon, FP&A couldn’t become a bottleneck.
“I had to scale myself so that I could do all of the analysis we needed without adding any headcount.”
Relying on Mosaic To Scale Finance
Using Mosaic across finance and accounting enabled MaestroQA to continue its growth trajectory without adding expensive headcount. And, with Mosaic integrated with QuickBooks, Salesforce, Justworks HR software, and Chargebee subscription billing software, Nucci has instant access to the data he needs. He even uses Mosaic for bookkeeping.
“Mosaic allows us to keep our finance team to a minimum,” Nucci added. “I’m in Mosaic for 2 or 3 hours, everyday, running scenario analysis, getting ready for our monthly budget reviews, looking at budget versus actuals variance with the CEO and CTO. I also do all of the FP&A work in Mosaic that we present to the board regularly.”
Nucci added that he’s been able to single-handedly deliver those recurring insights as well as show analysis on quick ratio, burn multiple, ARR per employee, and more, all from Mosaic.
“We raised our series A in 2021 and we used Mosaic to run all of our financial projections for current and potential investors.”
Avoiding $300,000 Annually Without Limiting Financial Insights
Mosaic gives MaestroQA the deep, detailed financial insights a fast-growing startup needs without requiring an expensive FP&A team or forcing its lean team to work nights and weekends to keep up. Even today, as the company’s revenue has increased by 5- or 6-times since Nucci joined, Mosaic has helped him keep up with that growth as a team of one.
“We’ve saved a significant amount of money over the last three years,” said Nucci. “If you think about having to hire an accountant and an FP&A specialist, that’s $300,000 per year compared to what we pay for Mosaic. We’re just now hiring a controller, but Mosaic is so good it made it harder for me to make the business case for that hire.”
Nucci added that an external FP&A audit conducted by a former CFO found that Mosaic gave MaestroQA “significantly more sophistication than expected for a company at its stage.” More importantly, that sophistication provides the financial insights to drive increased confidence for the co-founders and investors and continued hypergrowth for the company.
“Mosaic has been critical to our success to date.”