A platform that lets content creators (videos, podcasts, photos, articles) monetise their work through subscriptions
It has accelerated since its founding in November 2020, expanded across the EU and now also to the USA
Herohero connects creators and fans. No ads, likes or ratings, with an emphasis on the community experience
2. The client’s challenges
Decentralised data, key information was available mainly in the accounting system, which made quick orientation and a comprehensive overview of the overall financial situation difficult.
Reporting adapted to growth, as the company developed, it increasingly needed to track metrics specific to the subscription model that standard accounting outputs did not cover.
US entity, the American part of the company brought specific tax and accounting requirements that needed to be better mapped and aligned with the Czech entity.
Regular controlling, ongoing checks of accounting data, cost structure and cash flow help maintain financial stability and react in time to potential risks associated with dynamic growth.
3. Our solution
A) Import and centralisation in Symfio
A unified transfer of all accounting data to the Symfio platform: bank transactions, received invoices, platform revenue.
The result was a “single source of truth” for all relevant financial statistics.
As a result, Herohero gained a clear way to track revenue, costs, receivables and payables.
B) Reporting optimisation
We tailored the Symfio app to the company’s business model
Reporting continuously available to the founders: the result was a transparent strategy and faster decision-making.
C) Managing the US entity
We work with an accounting and tax firm in the US that manages the local entity
We regularly supervise and check accounting operations in the US to ensure the accounts are correct
D) Regular financial controlling
Every month we go through the month-end close, check whether costs are booked correctly, analyse long-term trends and present our recommendations to the founders
As part of the year-end close, we work with a tax adviser and handle the company’s accounting policies (for example, what percentage of development costs should be capitalised)
4. Results
Area
Before the cooperation
Now
Data control
Available only in the accounting software
Centralised in the Symfio app, up to 90% time saved on reporting preparation
Reporting & decision-making
Ad hoc reporting
Structured reporting delivered monthly
US entity
Not integrated into processes
Integrated accounting structure, unified reporting of results in the Symfio app
Financial management
No strategic framework
A system of month-end closes and analyses in place; budget preparation planned
5. What the client values
An instant overview of the numbers: the company’s financial situation is clear right after the month-end close, without unnecessary delays.
Time savings: no waiting for data from the external accountant. Thanks to centralised data, the founders have everything at hand. They save time they can spend on strategic or business decisions rather than in Excel spreadsheets
Clear and logical reports: ready for the bank, the board and the management team.
Comprehensive support: from implementation to regular controlling and adapting to the company’s unique needs
An independent external view: in a dynamic startup environment, an objective CFO supports strategic growth.
6. Summary
Herohero is going through dynamic expansion, during which we are helping to set up financial control, structure and transparency.
External financial management and unified reporting with the Symfio app proved to be added value during the company’s rapid growth.
