Nustreem’s GM increases productivity over 30% by outsourcing CFO functions
Nustreem’s GM increases productivity over 30% by outsourcing CFO functions
Summary
Nustreem manufactures hydroelectric turbine generator and control system that harness the power of water for optimal power output. Nustreem has repurposed patented technology that can create energy from shallower water sources, more than ever before. This technology is a game changer in the hydroelectric world. It’s no wonder so many investors are behind this start-up. But as a start-up of a manufacturing company that has to create its market… how do you grow? Where do you start? How can you scale? These are the questions Juliann Blanford, Nustreem’s General Manager, has to answer .
Challenges
As General Manager of a lean start-up Juliann wears a lot of hats! Those include running all aspects of the Company’s financial duties. This includes bookkeeping, accounting, internal reporting, cash flow, expense management and investor and board reports.
It’s quite difficult and time consuming to run the company and be the CFO!
How AKW Helps
Nustreem sought out industry best practices for both a fully integrated ERP or business operating system and and also a partner who knew the system and could handle CFO functions. Nustreem turned to April Pannell, CEO of AKW Financial. When Nustreem chose Zoho for its business operating system they had AKW implement Zoho’s accounting software, Zoho Books. In addition to just setting up Nustreem’s account with Books, AKW offered to offload some of the bookkeeping tasks Juliann was undertaking. Even more, AKW eventually helped by handling all of the CFO functions so Juliann could focus working on her company instead of working in it,
Results, Return on Investment
Beyond the fact that Nustreem is able to simply outsource the company’s financial duties, Juliann, the CEO and the Board can rely on AKW’s work and make serious business decisions.
"Working with AKW Financial has increased my productivity by over 30%. As General Manger my Board reports need to be informative and timely. I am able to outsource critical financial responsibilities to AKW, essentially as Nustreem's outsourced CFO. Our financials are not something we take lightly, a deep level of trust is required and we have that with April and AKW."
Juliann and Nustreem have a culture of instilling and promoting and streamlined practices and their forward-thinking approach and working with AKW has paid off.
“I feel that the advances we’ve made in our financial program is from AKW helping us. We have a much better picture of our financial health”