How Paro saved Tenacity Project $4,000 a month ($48,000 annualized) in financial services costs alone
“I came to Paro needing a financial model but they have helped me with so much more. I now have more visibility into the performance of our regions and business lines than ever before and I’m working with a CFO on a long-term strategic plan—all for way less money than I was paying for bookkeeping alone.”
Theresa Sherry, Founder and CEO, Tenacity Project
About Tenacity Project
Tenacity Project is a national movement to empower more girls to play lacrosse and learn life lessons through sports.
Tenacity Project had an overly complex financial model that they didn’t have time or resources to update for 2017. And, unbeknownst to them, they were drastically overpaying for bookkeeping.
After the help of a Paro expert, Tenacity Project:
- Transitioned Tenacity from QuickBooks Desktop to QuickBooks Online, enabling anytime/anywhere access to the data.
- Resynced bill-pay systems to speed up accounts receivable.
- Simplified bookkeeping systems to create more accurate and actionable financial reports.
- Provided monthly cash flow and P&L analysis.
- Developed a cash flow budget for the year.
- Provided part-time CFO guidance: because of the significant cost savings, Tenacity Project was able to take on a part-time CFO to help define a longer-term strategy around the organization’s financial goals, identify how they should be tracking financially, evaluate revenue streams (donations, tournament attendance, etc.), and offer suggestions for better managing cash flow.