“We worked with three other firms prior to indinero, and the difference has truly been night and day.”
That’s what Dana Lang, GO Processing’s CEO, had to say about us.
Mio’s story is different. They found us at the very beginning, and never looked back.
“I recommend indinero at least once a month. They’ve been with us since day 1 when we incorporated. Most impressive is the fact we haven’t needed to hire a single finance person in ten years, even though we’ve raised $17 million in venture capital.” – Mio executive
The Challenge
Mio builds messaging interoperability software out of Austin, Texas, allowing different platforms talk to each other without friction.
It’s the kind of deeply technical work that demands total focus from the people building it, and the last thing a company wants is to pull founders into sticky finance challenges when they’d much rather be improving the product or growing the business.
But those things don’t just go away because you’d rather be building.
Someone has to close the books. Someone has to handle interstate tax nexus quagmires. Someone has to be ready when the business starts raising serious investments and expanding into new markets.
They needed a finance function without the overhead, hiring, training, and management that usually comes from building in-house.
The Solution
We handle their entire finance function, and the way our relationship grew over time neatly encapsulates the problem our founders set out to solve from a dorm room in 2009.
“Across tens of thousands of small and mid-sized companies, financial operations are often fragmented, reactive, and opaque. Rather than keeping finance functions siloed, we envisioned a model where every business gets a single integrated finance team, not disconnected services.” -John Frazier, indinero CEO
The secret to our success is we don’t let our clients build a “finance Frankenstein,” as Karen Rinehart, our head of CFO services likes to call it.
Mio didn’t need our full stack of services when they incorporated a decade ago.
But as they grew, they eventually needed everything: payroll, accounting, taxes, fractional CFO, and on-demand support to handle international issues unique to their business model.
This is where many businesses fall into a trap. Outsourcing starts as a way to save time and money, but over time, they end up project managing multiple points of contact who all need essentially the same information.
With us, Mio had a single point of contact coordinating the work, backed by a full bench of talented experts ready to solve new problems growing companies inevitably face.
“We outsource our entire finance function indinero, and we’re very impressed with the breadth of services they offer. If we need to add a subsidy in a new country, they handle it. If we need to do a sales tax nexus study, they handle it.”
The Impact
Perhaps the clearest measure of success is what didn’t happen.
Mio has grown from zero to over 250 employees, raising $17 million in venture capital along the way, without looking into any other financial partner or hiring a single in-house finance person.
The proof is in the longevity of our relationship — ten years and counting.
Take it from Mio themselves:
“We are so happy with the level of service from the indinero team. They’re great at communicating, very responsive to feedback, and everything they do is high quality.”
We’re so excited to have participated in their growth, and can’t wait to see what the next decade has in store.
Why Has It Worked Out So Well?
Ten years is a long time.
Most vendor relationships would have frayed, been renegotiated, or unceremoniously replaced. But our relationship with Mio is still going strong.
Why?
Part of it is breadth of services.
Most accounting services, especially local providers, stop at the edge of their expertise. But behind Mio’s single point of contact is a bench of more than 125 accountants, bookkeepers, CFOs, and niche experts that can handle virtually any issue that might come up.
Part of it is communication.
Perhaps the biggest complaint about the accounting industry is unanswered messages; you’ll often hear from us sooner, but we guarantee 24-hour response times for all client communications. It’s a key internal KPI and we track it religiously.
Part of it is trust.
You don’t trust someone with your entire finance function for ten years unless they’ve earned it, over and over. Mio never needed a backup plan though, because the work was simply done, and done well.
When the time is right, reach out for a free consultation. And until then, we invite you to join one of our upcoming webinars and get acquainted with the team.
