“This is exciting for my non-finance brain to be able to understand my finances! Seriously though, for small tech companies with no CFO, that’s a huge capability, especially when you’re looking to exit (or even entertain the idea).”
- John Dames, Founding Principal at Prodjekt
About the business
Coming from the software development industry as a CTO, John Dames launched Prodjekt with the mission of making world-class products with minimal operational pain compared to conventional players. Prodjekt is a force multiplier for their clients with a holistic approach, guiding clients from ideation to UX to build and deploy.
Key challenge: Lack of financial visibility
Prodjekt is experiencing healthy top-line growth, but John has been saddled with poor financial and cash flow visibility to make informed decisions around the risks of hiring, expanding partners, procuring equipment, diversifying revenue, etc. When combined with a non-finance background, John was struggling to get a grasp on his current and future state financial picture.
Solution: Using Clockwork to understand financial data
With a simple Google search for “model cash flow,” John found Clockwork. He immediately saw Clockwork breaking numbers down the way he needed to see them in order to understand his financial situation. Within minutes John realized he “can do what I need to do to get a grasp on my finances + ask the right questions of my financial people.”
In a matter of days of harnessing his financial data and performance picture in Clockwork, John started to pursue bigger opportunities for deals/partnerships. Now having the financial data and foresight to answer pivotal questions about the quality of those business opportunities, John has a firm grasp on his financial picture to drive his business forward. With support from Clockwork’s CS Lead, Max, John has been able to create a financial model that works for his business and where he closely examines critical expenses and cash movements (e.g., CapEx vs. OpEx) to keep a constant pulse on financial health.
Growth! Using the Financial Model in Clockwork, John has been able to develop a hiring plan to execute as he scales Prodjekt. Giving him peace of mind and removing concerns about hiring for growth.
To learn more about how Clockwork helps small businesses realize and work towards a better financial future, create your account to start a free 14-day trial (no credit card required). Connect your QuickBooks Online or Xero account to create your first financial model in minutes.