This Fin-Tech Company Scaled Rapidly Using Dinamis
National Fin-Tech grew through outsourcing teams, and you can too
Growth can be exciting and challenging. The opportunity for increased revenue jumps first to mind, but the inability to quickly and successfully scale your business can leave your clients dissatisfied.
Our partners at XYZ Accounting Company (they have asked not be publicly named) know exactly how it feels. Their exceptional product and service led them to a three-year intense growth period as they entered new markets.
We mean it when we say, intense. At the beginning of 2015, they had 89 clients. Flash-forward just 40 months and XYZ is servicing 1435 clients. That’s a 1,620% growth.
Partnering with Dinamis Teams they were able to do more
Their team expanded rapidly to accommodate this growth with new talented accountants and support staff that focused on their specialized, high-level tasks. However, small, repetitive tasks including, invoice processing, expense allocation, and account reconciliation burdened their workload and kept them from fostering deeper relationships with their clients.
On top of their team expansion, the acquisition of another accounting company made focusing on attention-to-detail and implementing structured processes vital for their road-level tasks that needed accomplished day in and day out.
This is how Dinamis enabled growth
The dedicated team at Dinamis was able to cover XYZ Accounting Company’s time-draining paperwork tasks overnight with the great detail they required. This allowed their stateside team to accomplish a full day’s work before they even came into the office.
I love it that we, in theory, come in to work and that day’s work has been done and we can just do our thing.
COOThese tasks primarily include data entry into applications such as QuickBooks that can’t be automated. The amount of data entry severely limited the productivity of their stateside team by an estimated 46%. This productivity loss, without a Dinamis team, would have required an additional 21 stateside staff. When asked about the difference in expectations on an accountant without this service, their CFO had this to say-
“I expect my accountants to push out 55-ish financial statements a month … if my one accountant had to do all this by themselves, would that 55 go down to 40…30?”
COOBy partnering with Dinamis’ team, not only are their accountants more productive, but, they are able to save time, money, and resources on these repeatable tasks. They lowered their costs by approximately 57%, a decrease that has led them to significantly greater margins.
XYZ Accounting Company had two recommendations for using a Dinamis team to scale your own business quickly and efficiently:
“The more standardized your business is, the easier it’s going to be to work with (Dinamis’) team.”
CEOAt Dinamis, we love witnessing our client’s growth and are proud to be alongside them for their success stateside and abroad.