WHO WE SERVE
For startups and cyclical industries: Our flexible model allows you to efficiently scale with growth and prepare for a liquidity event; or scale down
with any economic cycle.
For large transaction intensive businesses: we have expertise to help eliminate / automate work, engineer better process, and recognize cost savings.
OUR Engagement Model, Methodology, AND Staffing
MAKES US DIFFERENT
Relationship
At Bright Balance we do our best to understand your needs and customize solutions to deliver as fast and as cost-efficient as possible without sacrificing quality. We take ownership of the issue and manage our staff to deliver allowing you a single point of contact with our team who is accountable to results. We are engaged with you on a daily/weekly basis and have multiple touchpoints on a regular schedule so that we stay in the loop and operate as if we’re truly a part of your team, even though we’re an outside company. We play the long game when it comes to relationships investing heavily in our clients and their businesses, building a long term partnership.
Flexibility
At Bright Balance, you will have 1 main point of contact. That professional will have weekly, bi-weekly or monthly calls with you in order to ensure that all of your expectations are met.
We have a broad variety of team members with various experience and practice bringing them into clients as the needs dictate who is best for the work. Working remotely allows Bright Balance to be flexible with our people and their schedules while also switching between clients as needed. Our offshore team is 7 hours ahead of US Eastern time; but has complete overlap 6 hours of the work day. We work in small teams, because we’re factional 2-3 people does not cost you more, in fact it usually saves as the cross-training and teamwork end up giving better continuity for disruptions like vacation or sick time
Responsibility
At Bright Balance, we are not consultants, we are practitioners. Our background is Corporate Accounting and Finance which means we are naturally used to delivering as part of your team. This means we have a high sense of responsibility to solving problems and delivering solutions, no matter what challenges may present. We are committed to your success, and we come armed with a great team who can work together to deliver for you.
Our promise is that we will never let a consultant work alone on a single client. Since we’re always in teams we naturally cross train and build in redundancies which allows us to cover holidays/vacation/sickness and provide for better contingency planning for turnover.
cost
Our work is invoiced on an hourly basis with a large range of hourly rates based on skill, experience, and the market from which our team is working. Our scope is often open-ended allowing us to plan with you deliverables we are accountable to on a weekly basis, with controls for cost such as budgets and limits based on your needs. Our flexible structure also allows us to delegate work down over time to lower rate team members which makes our engagement cost effective and ultimately a sustainable long-term solution for augmenting your team.
CASE STUDIES
Biotech Silicon Valley $20m -> $90m startup – Implemented GL and initial financial infrastructure, established monthly accounting processes and reporting cadence for internal and external financial reporting. Set financial infrastructure for successful $70m additional capital raise 24 months after initial $20m capital raise. Timely and accurate monthly financial reporting package with expense and budget analysis exhibits; on regular cadence for a fraction of the cost of hiring/sourcing internally; scalable solution for high growth expectations.
Software technology $20m high growth, PE-backed – Played key financial strategy, FP&A, and accounting roles for SaaS company expansion into US from overseas where product development had begun. US sales went from $5m ARR to $20+m ARR in 3 years. Obtained credit facility through private non-bank financing partner. Helped get numerous term sheets for equity transaction, ultimately raised $20m in cash with a $30m deal at pre-money valuation north of $160m. Oversaw international expansion into Europe, LATAM, and APAC with scalable finance team able to manage complexities of tax, contracting/invoicing, and financing.
Software technology Equity raise – Started as fractional CFO firm for a SaaS company with ultra-high growth going from $100k MRR to $1.0M MRR in first 90 days of engagement. Complexities of a past reverse-merger and inadequate accounting support put the company behind in building much needed infrastructure to scale. Another major outsourced accounting firm chose to disengage leaving BBA in an easy position to be able to take up all finance/accounting responsibility. BBA cleaned up 6 months of history, accounting for the reverse-merger and implemented scalable infrastructure which allowed the company to go to market with a major investment bank within 4 months; seeing interest from institutional capital at valuations over $100m.
Enterprise SaaS company, equity raise – Provided the US finance and accounting support for a SaaS company that started in India expanding into US that had raised no institutional capital, but 100% operating cashflow financed from day 1. BBA provided guidance on best practice for operating the finance function, and prepared the company for potential equity transaction as it eclipsed $10m in revenue. The team implemented 606 for revenue recognition, accrual accounting, ME close process, and adequate infrastructure to report GAAP financial statements and prepare the company for its first financial audit.
P&C Insurance, non-standard auto – Held fractional CFO title for a managing general agency (MGA) in the non-standard auto business; streamlined carrier reporting, developed a weekly close process for all premiums, commissions and LAE for both accounting and cash settlement. After 6 months, the BBA operations team helped reduce the monthly cost of accounting by 70% through a faster, more efficient and lower cost close.
P&C Insurance, non-standard auto – BBA started out by augmenting the accounting team within a large MGA group and after catching up and cleaning up over 100 cash account reconciliations and streamlining the cash close, moved on to support other segments with similar transformative work.
UK Fin Tech launch of US operations – Advised CEO on startup of operations in the US including banking, HR/benefits, payroll, equity, tax, and accounting infrastructure. Developed loan book reconciliation process with operations, and a cost efficient and fast monthly close process.
Real estate asset and property manager – holding around 35 properties in the Healthcare space; in need of CFO and accounting support at low cost.
A real estate asset and property manager – holding around 40 multifamily properties ranging from a few dozen units to almost 1,000 units across the nation, the existing CFO and internal accounting team needed help maintaining cash on daily basis, reconciling timely, and giving better inputs into cash flow forecasting for properties.
Group of startup real estate companies – which branched off of an established residential realtor operation; focus was construction of commercial projects, investment and remodel of multifamily and residential multifamily development. Needing low cost / fractional accounting and CFO/controllership support.
PE portfolio company turnaround – Private equity owned, $300m frozen foods manufacturer; high cost of labor in CA; low margin business had discontinued ¾ of business within 12mo in efforts to save profitable segment; BBA provided outsourced FP&A, controllership and support to the CFO. Was able to scale up and down as needs changed quickly; ultimately refinancing the company and successfully closing an exit for private equity.
CPG Food startup – A startup health food products company which manufactured, packaged and sold food products made from sunflower flour, direct to consumer as well as through wholesale/grocery channels. Minimal staff internally and needed help with accounting and regular monthly financial reporting.
PE owned dental service organization (DSO) – with 20 locations grew by acquisition to over 70 locations with BBA offering low-cost accounting support as well as augmentation to FP&A. With some turnover in key positions BBA was also utilized to fill roles on an interim basis in a seamless manner as the team already engaged covered gaps.
PE owned dental service organization (DSO) – with 35 looking to grow by acquisition, with BBA offering low-cost accounting support as well as augmentation to FP&A. Focus on cash and accounting process improvement, and improving visibility to cash with better cash flow forecasting.
PE owned dental service organization (DSO) – with 40 locations looking to grow by acquisition, with BBA offering low-cost accounting support. The BBA team was engaged to help assess cash close, insurance accounting / reconciliations of EOBs, and better utilization of existing systems / platforms to help increase efficiency for the team as the company prepared for growth.
Counseling practice – full back-office support for mental health practitioners supporting billing / payment processing, payroll, and month end close support with an extremely cost efficient model.
Analytics Consulting firm – $25m consulting firm growing quickly in the IT/Data space; in need of maturity in FP&A, budgeting, cashflow forecasting to set direction for organization and align cross-departmentally.
Contingency fee law firm – Law firm with strategy specifically in products liability contingency fee cases; scaling in personnel and docket; initially needed financial modeling/forecasting capabilities which bookkeeper did not have; later transitioned all accounting work to BBA once the firm outgrew the bookkeeper.
Contingency fee law firm – Law firm focused on financing contingency fee mass-torts cases; deployed capital into a couple hundred cases within a few case strategies, needed accounting and FP&A support as the operation was run by a small group of attorneys
Litigation finance fund management – Fund manager for multiple closed-end litigation finance investment funds which started in 2019 and raised around $20m in capital; funds were run by a small team of attorneys; needed accounting support, modeling, FP&A and investment relations/fund administration support.
Litigation finance fund management – Fund manager for multiple closed-end litigation finance investment funds which started in 2019 and raised around $20m in capital; funds were run by a small team of attorneys; needed accounting support,
modeling, FP&A and investment relations/fund administration support.