Roberto Carroz is the head of accounting at Nelo, a company charged with a powerful mission: providing innovative credit solutions to those traditionally underserved by banks in Mexico and Latin America.
As the Head of Accounting, Roberto is crucial in navigating the complexities of managing financial operations across two entities, one in Mexico and another in the US.
Challenges Faced
Before adopting LiveFlow, Roberto grappled with significant challenges in its financial reporting processes.
"We needed to create consolidated financials basically," Roberto explained.
The consolidation process was complicated and time-consuming, from handling transaction rates for multiple currencies to managing inaccuracies and delays caused by manual data entry. All of this combined with the financial struggles of a high-growth startup.
Roberto was relying on outsourced accounting services to complete Nelo’s reporting on time, but even with outsourcing, the consolidation process was taking too long. Roberto needed faster reporting to make data-driven decisions for a company that was going places.
Discovery of LiveFlow
In his search for a solution, Roberto found LiveFlow after stumbling upon some competitors’ products. The other solutions Roberto found were too expensive for a company at Nelo’s growth stage, so he gave scheduled a demo of the LiveFlow product.
"I decided to try a few products that I found on Google, and then I found LiveFlow," he recounted.
His initial skepticism was quickly pushed aside by the potential he saw in LiveFlow.
Implementation and Customization
Integrating LiveFlow into Nelo's financial systems marked a turning point in their business.
Roberto worked closely with the LiveFlow team to tailor the integration to meet Nelo’s specific needs, focusing on automating the consolidation of financial statements.
At that point, LiveFlow didn’t offer consolidation as a service, so users like Roberto, who worked with our team, helped build a runway for what became an incredibly useful product for many.
With the help of LiveFlow team members Evan and Alisha, Roberto built a dashboard that automatically consolidated Nelo’s financials from their QuickBooks Online data, saving him and his team days per month and enabling decision-making at lightning speed.
Results Achieved
The impact of LiveFlow on Nelo's financial reporting was profound and immediate.
"We were waiting three days for our outsourced team to consolidate the information. I have the results in a 15-minute work session." Roberto noted.
This drastic reduction in time spent on financial reporting enhanced productivity and significantly improved the accuracy and timeliness of their financial data.
Future Plans
Roberto continues working with the LiveFlow team to develop further utility for Nelo and other LiveFlow users, such as consolidated cash flow forecasting.
His satisfaction with LiveFlow's solutions is evident as he plans to deepen their integration to keep pace with Nelo’s rapid growth and complex financial landscape.
Implementing LiveFlow has transformed consolidation at Nelo, enabling faster, more accurate consolidated reporting and innovative financial solutions.
Roberto's experience underscores the value of LiveFlow in addressing the specific challenges faced by companies operating across multiple countries with complex financial needs.
Save Hours on Consolidated Reporting
Roberto’s endorsement of LiveFlow is explicit, "I would recommend it. It's a reliable platform, it won't burn your pockets, and it’s really easy to get support."
If you spend hours or days per month creating consolidated reporting from multiple entities, LiveFlow can help you, too.
Book a demo today with our team, and we’ll be more than happy to show you how LiveFlow can bring serious value to your team.
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