Establishing Annual Budgeting and Developing Investor Materials to Support a SPAC Transaction
The Situation
An emerging growth medical device SaaS business with disruptive technology entered into a SPAC merger transaction to accelerate its commercialization. The Company needed to operationalize a publicly disclosed investor forecast through the development of its first budget at scale, and needed support with the tools and corporate processes to execute against it. In addition, the Company needed to create an institutional investor model and public presentation materials to support the transaction on a tight timeframe.
Services
Budgeting & Forecasting Process Improvement
IPO Readiness
The Execution
- Developed budget process and calendar to ensure alignment on timelines and deliverables with key constituents.
- Created standardized data input templates at the individual employee and vendor level for each cost center – which were aggregated in a consolidation model that could be leveraged for quarterly reforecasts and budgets.
- Conducted detailed review sessions with each department leader to explain process and then systematically reviewed and refined submissions on a tight timeframe; included “white glove” support service as requested.
- Partnered with key functional leaders (e.g., Sales, Marketing, R&D) to build a robust, bottoms-up sales plan and related cost / personnel needs.
- Supported iterations of Company product road map and go-to-market strategy by identifying, documenting, and quantifying key interdependencies, risks, and opportunities between departments.
- Finalized budget through multiple senior management all-hands sessions led by CEO & CFO to stack rank strategic priorities for 2021 and beyond.
- Refined and updated the Company’s operating model and developed budget actualization templates and processes with FP&A and Sales teams.
- Institutionalized department and sales channel structure across the organization to align with Company reorganization and new go-to-market strategy.
- Developed institutional investor model based on updated budget and operating model, in addition to public presentation materials, supporting a holistic investor relations strategy.
- Researched and compiled comparable Company presentation materials and investor models for best practices and market standard
- Developed and expanded existing TAM and penetration rate analyses
The Results
Accordion helped a leanly staffed finance team create a robust bottoms-up budget and sales plan to enable the Company’s commercialization phase. Simultaneously, we helped build an investor model and presentation materials highlighting the growth trajectory and long-term prospects to public investors on accelerated timelines. Our team partnered with the CFO and FP&A function to a) lead and institutionalize a disciplined budget process; b) create scalable tools and templates for future use, including actualization and reforecasting; and c) develop robust public investor materials.