Mavenlink Helps
Hero Digital Achieve
40% Faster Month End
Accounting Close

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 Mavenlink.

THE SOLUTION

Accurate Forecasting

Hero Digital needed to replace manual data analysis in forecasting. Supported by the Mavenlink 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. Mavenlink’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. Mavenlink Insights provides needed revenue, project burn, cost, margin, and other relevant data.

THE RESULTS

Forecasting The Future

Mavenlink forecasting capabilities help Hero’s managers understand project needs and make faster decisions about the future of a project, with clarity about the weeks and months ahead. Forecasting is done for many different statements of work structures and a wide variety of work, with forecasting reaching an accuracy over 90 days.

Shorter Accounting Close Cycles

Mavenlink’s fast reporting capabilities have made Hero’s accounting department’s time to close 40% faster, speeding up from as many as 20 days to now an average 10-day close.

Faster, Stronger Processes

Mavenlink’s reporting capabilities access crucial information for both client teams and internal work. Mavenlink has helped the company better understand unstaffed work, risks to project success, and the need for contract work.

Insights And Actions

Now, Hero Digital has a more reliable resource and capacity view, a better understanding of hiring needs, and the ability to understand project actuals on demand, including current project margin and estimated margin at completion. Additionally, Mavenlink’s Netsuite integration automatically creates sales orders and fulfillments in Netsuite with the press of a button in M-Bridge.

Hero Digital (Financial)

Hero Digital is a leading independent customer experience company focused on holistic processes and integrated methods that help leading brands achieve growth.

CLIENT Hero Digital
INDUSTRY Advertising / Marketing / Media
WHAT MAVENLINK
REPLACED
Google Sheets (for the forecasting/accounting close)
40 %
FASTER MONTH
END ACCOUNTING
CLOSE
90
DAY FINANCIAL
FORECASTING
ACCURACY

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."

MANDEE MILES,
DIRECTOR OF CLIENT FINANCE, HERO DIGITAL

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