Or, how a tech company became even more efficient by switching service provider
Happi is a VC-backed company, started 3 years ago by NYC native Greg Lipper, that allows people to support charity causes they believe in just by answering easy questions on the Happi app.
As a leader in the market research industry, Happi allows companies to get closer to their audience through targeted surveys and campaigns. Using PikoHANA’s services, Happi was able to cut costs and become more efficient. Let’s discover how.
When CFO Tim Gilbertson joined in 2017, the books were all over the place. There was a full-time admin person in charge of all back-office tasks, but investors had become concerned with the compliance and financial statements. As soon as Tim joined, he knew he had to find a better solution to handling all those tasks.
PikoHANA is a service provider in Singapore who specializes in back-office automation for fast-growing companies. The founder Matt Foley has three decades of experience working as a CFO for high-tech, fast-growing companies so he knew exactly what Happi needed.
Switching to PikoHANA – the process
Matt and his team have been working on streamlining the onboarding process for months. At last count, making the switch is a 12-week process divided in 83 tasks. Almost all of the tasks are handled by the PikoHANA team, with only 33 requiring some kind of action from the company (usually, it’s a signature on a document).
PikoHANA slowly took over all the duties of the full-time admin person who stopped working for Happi soon after. In the words of Tim, the CFO: “we made the switch because they are affordable and, at the same cost of a full-time person they do a much more accurate job!”.
Only one task was left out: paying out the charities.
Happi attracts users with two benefits:
- Win attractive giveaway prizes offered by partners
- Donate money to a charity of choice
Every survey filled gives users one more chance to win a prize and donates a set amount to the charity they support. At the end of each month, the charities that are listed in the Happi app are paid out their donations.
After making the switch to PikoHANA, this was the only task carried out by a part-timer. The workload isn’t enough to hire a full-timer so Tim decided to assign this task to Matt’s team.
But there’s one catch…
Working with PikoHANA is not for everyone
“I’d recommend PikoHANA to any company, really. Not huge companies with massive staff count though, because probably they have enough work to keep one person (or one team) busy” Tim says, “any company that can save money by using PikoHANA should use it. It all comes down to opportunity costs and benefits. In our case, making the switch saves us money and gives us better information about our financial status”.
The PikoHANA formula for offering comprehensive services to clients at an affordable price includes lots of automation. One of the most appreciated services is vendor payments. This requires companies like Happi to schedule all the payments on the same week. It takes some work to get all the data ready for PikoHANA to process, but Tim reports he’s very happy to be “forced” into efficiency.
“I loved switching to PikoHANA because it forced all of us to be a lot more structured and efficient”