Case Study: US Subsidiary Management
Scality
Headquarters: California, United States
Industry: Cloud hosting
Size: 100-200 employees
Vincent Breuil Group CFO
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“Lisan Finance did a great job in setting up and implementing the finance processes and procedures. They are a great tool providing us with great financial visibility!“
Client Situation
Scality is a French-based start-up founded in 2009. They are a growing software company that provides file and object storage for enterprise data management.
After raising a Series C round in 2011, they decided to move to the US and set up headquarters in San Francisco. At this point they had raised over 13 million, had 10-50 employees and were looking to grow their market. This is when they sought Lisan Finances help. Lisan Finance worked with them to set up a subsidiary in the US, and incorporate them. Since then, Lisan Finance acted as their financial advisor and HR manager in the US.
Impact & Results
Lisan Finance continues to provide full HR & Finance services to help support the rapid growth of Scality’s US operations. Lisan Finance has committed to having dedicated personnel located in San Francisco to help manage the necessary in-person operations. Lisan Finance continues to ensure that every system is fully optimized, enabling full integration with all group systems and procedures. Lisan Finance has adapted to meet the needs of Scality's growing organization, from providing one-off services to recurring ones. From accounting software, managing the hiring and onboarding process, and providing clearer and consistent financial reporting, Lisan Finance ensures that nothing is left behind. This flexible and customized service continues to provide the French parent company and US subsidiary with the complete picture so that they can make the right decisions for the company.
Methodology & Achievements
2014
On-going
Bookkeeping & accounting​​
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100% by Lisan Finance for the first years
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Transition to internal accountant, training and supervision
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Monthly review and cut-offs management
Financial reporting & business planning
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Financial reporting preparation and analysis
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Budget & forecasting on a monthly basis
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Project tracking: revenue, costs, and cash flow
Taxes
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Annual tax return and compliance
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Sales and local tax registrations and declarations
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Inter-company policies and reconciliations
Purchase administration: process bills from reception to payments
Sales administration: issuance of customer invoices, vendor registrations, cash collection
Acting as head of HR for the US office
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Dealing with all employees’ requests, from hiring, onboarding and terminating
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Payroll & benefits management
Main point of contact for HR & Finance matters, reporting directly to CFO and working closely with C-levels