Case Studies How Qwick Uses Mosaic to Build a Culture of Financial Collaboration

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	How Qwick Uses Mosaic to Build a Culture of Financial Collaboration

How Qwick Uses Mosaic to Build a Culture of Financial Collaboration

Technology Category	Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - Data Exchange & Integration Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions	Business Operation
Services	System Integration Training
Challenge	As a startup in high-growth mode, Qwick faced significant challenges in managing their financial operations. Their financial modeling was being done in Google Sheets, relying on high-level assumptions and requiring data from multiple disconnected systems like Quickbooks, Salesforce, ADP, and Divvy. This manual approach led to several major problems, including a week-long process to prepare board financials, extensive time spent on fundraising diligence, and the inability to update key metrics like CAC and LTV more frequently than quarterly. Additionally, their revenue and cash forecasts were extremely high-level, lacking the precision needed for accurate financial projections. Zack McCarty, Director of FP&A, recognized the need for a tool that could integrate all their financial data into one place to improve forecasting and build a culture of financial collaboration. Read More
About Customer	Qwick is a professional platform dedicated to the hospitality industry, matching experienced freelancers with shifts at restaurants, hotels, caterers, stadiums, and more. As the leading staffing platform in this sector, Qwick provides businesses with the flexibility to fill shifts in real-time with qualified staff, while empowering freelancers to work when and where they want. The company is in a high-growth phase, necessitating the evolution of their financial tools and processes to support their expanding operations. With a focus on improving financial forecasting and collaboration, Qwick aims to enhance its impact on the hospitality industry by leveraging advanced financial management solutions. Read More
Solution	Qwick chose Mosaic for its balance of guided functionality, fast time to value, and intuitive user experience. Within days, Qwick set up direct data integrations with key systems like Quickbooks, Salesforce, ADP, Divvy, and Snowflake, allowing live data to flow into Mosaic for instant analysis. They rebuilt their financial model from the ground up, determining the best forecasting methods for each line item on the P&L and stress-testing them for accuracy. Mosaic's 3-statement modeling tools enabled quick scenario planning, allowing Qwick to ask and answer critical business questions in minutes. Additionally, the integration with Snowflake and Mosaic's Metric Builder revolutionized their ability to combine different data sources into meaningful metrics. Qwick also focused on building department-level dashboards in Mosaic, presenting a combination of financial and operational performance results that mapped to each department's strategic goals. This approach helped bridge the gap between the finance team and other departments, fostering a culture of financial collaboration. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Application Infrastructure & Middleware - Data Exchange & Integration

Platform as a Service (PaaS) - Data Management Platforms

Applicable Functions

Business Operation

Services

System Integration

Training

Challenge

As a startup in high-growth mode, Qwick faced significant challenges in managing their financial operations. Their financial modeling was being done in Google Sheets, relying on high-level assumptions and requiring data from multiple disconnected systems like Quickbooks, Salesforce, ADP, and Divvy. This manual approach led to several major problems, including a week-long process to prepare board financials, extensive time spent on fundraising diligence, and the inability to update key metrics like CAC and LTV more frequently than quarterly. Additionally, their revenue and cash forecasts were extremely high-level, lacking the precision needed for accurate financial projections. Zack McCarty, Director of FP&A, recognized the need for a tool that could integrate all their financial data into one place to improve forecasting and build a culture of financial collaboration.

About Customer

Qwick is a professional platform dedicated to the hospitality industry, matching experienced freelancers with shifts at restaurants, hotels, caterers, stadiums, and more. As the leading staffing platform in this sector, Qwick provides businesses with the flexibility to fill shifts in real-time with qualified staff, while empowering freelancers to work when and where they want. The company is in a high-growth phase, necessitating the evolution of their financial tools and processes to support their expanding operations. With a focus on improving financial forecasting and collaboration, Qwick aims to enhance its impact on the hospitality industry by leveraging advanced financial management solutions.

Solution

Qwick chose Mosaic for its balance of guided functionality, fast time to value, and intuitive user experience. Within days, Qwick set up direct data integrations with key systems like Quickbooks, Salesforce, ADP, Divvy, and Snowflake, allowing live data to flow into Mosaic for instant analysis. They rebuilt their financial model from the ground up, determining the best forecasting methods for each line item on the P&L and stress-testing them for accuracy. Mosaic's 3-statement modeling tools enabled quick scenario planning, allowing Qwick to ask and answer critical business questions in minutes. Additionally, the integration with Snowflake and Mosaic's Metric Builder revolutionized their ability to combine different data sources into meaningful metrics. Qwick also focused on building department-level dashboards in Mosaic, presenting a combination of financial and operational performance results that mapped to each department's strategic goals. This approach helped bridge the gap between the finance team and other departments, fostering a culture of financial collaboration.

Impact #1	Mosaic has significantly improved Qwick's financial operations, enabling the finance team to engage in strategic work and make data-driven decisions.
Impact #2	The visibility into spend allows the team to track contributions to the bottom line thoughtfully, driving decisions on where to invest or stop investing.
Impact #3	Qwick now has 40 departmental leaders using Mosaic regularly, with VPs leading financial discussions and requesting more insights from finance.

Impact #1

Mosaic has significantly improved Qwick's financial operations, enabling the finance team to engage in strategic work and make data-driven decisions.

Impact #2

The visibility into spend allows the team to track contributions to the bottom line thoughtfully, driving decisions on where to invest or stop investing.

Impact #3

Qwick now has 40 departmental leaders using Mosaic regularly, with VPs leading financial discussions and requesting more insights from finance.

Benefit #1	Reduced the time to prepare board financials from weeks to real-time access.
Benefit #2	Enabled quick scenario planning, reducing the time from hours or days to minutes.
Benefit #3	Increased the frequency of updating key metrics like CAC and LTV from quarterly to real-time.

Benefit #1

Reduced the time to prepare board financials from weeks to real-time access.

Benefit #2

Enabled quick scenario planning, reducing the time from hours or days to minutes.

Benefit #3

Increased the frequency of updating key metrics like CAC and LTV from quarterly to real-time.

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Overview

How Qwick Uses Mosaic to Build a Culture of Financial Collaboration

Operational Impact

Quantitative Benefit