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Reduced cash burn by 36% compared to YTD budget in just seven months

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“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."
Lauren Barranti, President and CEO, CHME

Kathryn Madden
Co-Founder, OfficeLuv 

Find me a controller

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About 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.

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The Pain

OfficeLuv was left scrambling when their controller resigned from the company. They required help with all core accounting duties, from paying bills to ensuring customers were invoiced—and they needed it fast. 

The Story

OfficeLuv sought Paro's help with accounting while searching for another full-time controller. As they are an office management services company, timeliness and efficiency is at the core of everything they do. But ultimately, OfficeLuv needed a controller—someone who was knowledgeable about their industry, could ramp up quickly, and was adept at all basic financial tasks.

The Solution

Paro matched OfficeLuv with a new controller the same day they reached out. Not only did Paro's financial expert stabilize the situation immediately, he leveraged third-party systems to dramatically increase efficiency. 

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. 

With 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 

The Result

Reduction in AR days outstanding
saved in full-time employee costs
reduction in cash burn from YTD budget

Services Used

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Bookkeeping

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Accounting

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Financial Planning & Analysis
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Part-Time CFO
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Tax