Kompyte is a technology company headquartered in Austin, Texas. Kompyte develops software with artificial intelligence that allows its clients to carry out competitor analysis and thus improve their position in the market. Kompyte's clients include the world's leading technology companies and they are expanding their business in America and Europe.
Like many companies, Kompyte used Excel spreadsheets for budgeting and planning. They needed a solution that was more scalable, less prone to errors, that would provide a better audit of the changes made and more flexible to adapt in an agile way to the changes of the market. Also, their previous solution did not allow them to dynamically manage changing assumptions within the Kompyte budgeting process. In short, Kompyte was beginning to be overwhelmed by the multitude of spreadsheets with which they worked and with the dedication of staff hours that these processes entailed.
The Kompyte team began evaluating different planning tools on the market in 2020. Cofi's intuitive reporting capabilities and rapid implementation of the tool without the need for external consultancies, immediately caught the attention of the finance team.
“We are growing so fast that my team's main job is to get the data and metrics in front of our executives as quickly as possible,” shares Iago, Head of Finance at Kompyte. "It was evident how intuitive the Cofi reporting system is with its functionality to build reports without the need for external personnel and the ability to build hyper-personalized reports that are always updated in real time."
Regarding the onboarding process of the tool, he adds:
"The implementation period was very fast, less than three weeks, which allowed us to obtain value from the beginning, something that stood out among the other tools we evaluated."
"With Cofi, we have gone from a more traditional FP&A approach to a much more dynamic planning environment that is what the market demands today; in addition, the work of our finance team is reflected in other areas of the business", explains Iago.
The use of Cofi throughout the organization also means that the finance team can keep the different departments informed of the evolution of the company while they work at the core of the business. In addition, their long-term plans include training different business managers so that they can conduct independent analyzes of their divisions and can apply what-if scenarios for their areas.