Case Study: Printforia’s Financial Upgrade and Successful Capital Raise

Overview:

Printforia, an expansion-stage technology company based in Vancouver, WA, specializes in developing machine learning and artificial intelligence models to provide state-of-the-art production and fulfillment services to various online platforms. The company aimed to enhance production efficiencies through demand aggregation from leading online retailers. This case study highlights a hybrid role undertaken by Alta Creci to provide financial leadership and execution to support the company's growth and prepare it for a successful capital raise.

Challenges:

As a recent startup, Printforia faced various challenges in serving existing customer orders, growing new markets, optimizing its financial operations, and preparing for external investment. The company needed to improve its financial reporting, streamline internal processes, implement and optimize ERP modules, and demonstrate the ability to scale – all while upgrading its investment rationale to attract outside investors.

Solutions Implemented:

1. Full-Cycle Financial Management:

   • Conducted a comprehensive full-cycle month-end close, including internal department reporting, weekly cash forecasting, real-time internal dashboards, and external reporting to private investors and owners.

   • Managed and oversaw critical financial functions, including invoicing, accounts receivable and payables, payroll, and expense reimbursements.

2. Strategic Planning and Budgeting:

   • Revised the budget and strategy plan to a multi-year, unit-driven pro forma with scenarios for executive management.

   • Assisted in pitch deck creation, strategic planning, investment rationale, and investor due diligence, contributing to a successful capital raise of over $5.0 million.

3. Project Management:

   Led and managed various projects to enhance financial operations and reporting:

   • Conducted NetSuite historical monthly clean-up for the transition to accrual-based accounting.

   • Established departmental budgets and accounting procedures.

   • Implemented NetSuite Fixed Asset module, capitalization, and inventory/SKU management policies.

   • Developed Consolidated Invoice Purchase Order processes for greater accuracy and reporting.

Results:

The implemented financial and strategic initiatives resulted in significant achievements:

• Successful capital raise of over $5.0 million through effective pitch deck development and investor due diligence.

• Streamlined and optimized financial operations, enhancing month-end close processes and real-time reporting.

• Improved accuracy and efficiency in invoicing, accounts receivable and payables, payroll, and expense reimbursements.

• Enhanced NetSuite capabilities and implemented standardized financial procedures, setting the foundation for sustained growth.

Conslusion:
Printforia's financial transformation and successful capital raise demonstrate the effectiveness of a comprehensive approach to financial leadership. The company positioned itself for continued success in the competitive technology landscape by addressing key challenges and implementing strategic initiatives in advance of approaching investors.