Despite being relatively small, this market disruptor in the med tech industry was already attracting enormous interest and funding. They knew they needed a professional finance function in order to scale smoothly.
Professionalised financial management
With just six members of staff, Mizaic was much smaller than our typical client when we began working with them. But the technology they had developed – a system for acute hospitals to manage their electronic records – was attracting the interest and funding it would need to grow very quickly.
Their bookkeeper and external accountancy firm could not give them the deep understanding of their finances they needed in order to grow. They wanted to professionalise their financial management so they could maximise their growth potential.
So, we instituted rigorous financial controls, in addition to regular cash flow and management reports.
We worked with Mizaic’s CEO, Michael van de Weg, to help him understand the financial information we were giving him – and to ensure that it was useful to him.
And we looked at the relative profitability of different product lines, enabling the company to focus on those areas of the business which were most lucrative.
“It has freed up a lot of my time, enabling me to focus on other area of the business secure in the knowledge that the financial side is totally taken care of,” says Michael. “It has also allowed me to scale the business with much more confidence.”
“It has freed up a lot of my time, enabling me to focus on other area of the business secure in the knowledge that the financial side is totally taken care of,”
Free up your time and headspace
For Mizaic, having the time to focus on their business without the stress and burden of financial management was just what they needed to maximise their growth and development.
And it could be just what your business needs, too. We can work with you to implement the finance function you deserve, so that you have the time and headspace to concentrate on the evolution of your business.
Invest in your business today
Ready to step up, invest in your business and reap the benefits?