How Paro helped OfficeLuv reduce cash burn by 36% compared to YTD budget in just seven months
“Our Paro expert is a seamless addition to our team, and I really can’t imagine life without him at this point. He has really taken direction well, updates our model monthly as actuals come in, and has proactively been working with our engineering team to help us map out an ideal case scenario for automated invoicing. I expect to lean on our Paro expert more in the future.”
Kathryn Madden, Co-Founder, OfficeLuv
OfficeLuv centralizes office services through one product. They combine on-site personnel and technology to help office management teams offload tasks, restock and order supplies and groceries, manage vendors, gather employee insights, and analyze office spend.
The pairing has gone so well that OfficeLuv decided to retain Paro’s services rather than continue their search for a full-time, in-house controller.
After the help of a Paro expert, OfficeLuv:
- Redesigned and optimized their entire invoicing and collection processes
- Developed technical systems that eliminated manual tasks that were wasting significant time and money
- Worked closely with their product team and accountant managers to optimize every part of their financial operations, including modeling and projections
- Flexed into budgeting activities
- Extended accounts payable days outstanding for OfficeLuv by 9% since the start of the engagement