Case Study: XUND Solutions

Success Story:
XUND Solutions

XUND is the one-stop solution for the digitalisation of all patient flows and data, from prevention to diagnosis and monitoring. Insurance, digital health and pharmaceutical companies rely on XUND and thus offer their 5 million patients access to XUND.

Industry:

Challenge

In 2022, XUND closed the seed financing round. At that time, the company had grown rapidly and existing financial processes were not future-proof. New liquidity management and investor reporting were therefore necessary to improve financial transparency. The next logical step was to revise the budget and create effective processes for monthly data retrieval. For this purpose, NumberSquare supported the company as a fractional CFO.

Implementation

Automation & Structuring

  • Setting up and automating accounting processes in Spendesk
  • Improving communication with the tax consultant
  • Refining accounting rules and increasing the quality of financial data

Budget Planning & Dashboard

  • Creating and reviewing a bottom-up budget plan in line with company size and age 
  • Integrating historical data and medium-term planning 
  • Developing a dashboard for comparing target and actual performance to quickly identify and eliminate deviations

Reporting & Targets

  • Implementing a detailed reporting process
  • Establishing comprehensive liquidity planning and timely identification of potential liquidity bottlenecks 
  • Setting up KPI dashboards and monthly analyses

Success

Implementation of a finance cockpit for transparent corporate controlling, which consolidates several bank accounts and the two companies. Establishment of reliable financial planning through regular reporting, better communication with tax advisors and future-proof KPIs. Automation of liquidity planning allows for detailed responses to management queries and ensures the availability of relevant data for existing and potential investors at all times. 

Thanks to our comprehensive support, XUND successfully completed the extension of the seed funding round at the end of 2023. The automated accounting processes, detailed financial reporting with daily data updates and professional budget planning contributed to increasing investor trust. Our CFO as a Service support played a key role in transforming the company's liquidity planning to scale XUND sustainably.

Thanks to NumberSquare's professional support, XUND was able to effectively structure and automate its financial processes. The team's expertise enabled us to create a transparent budget and insightful dashboards. This not only led to a successful funding round but also laid the foundation for the sustainable financial development of our company. NumberSquare is a valuable partner for anyone looking to take their finance function to the next level.

– Tamás Petrovics, Co-Founder & CEO XUND Solutions GmbH