Grumblo: Outsourced CFO supporting change management
Grumblo, a marketing company focused on motorsport, changed its operations as a result of the COVID-19 pandemic when all events in the automotive industry were closed. CEO Markus Martelius says that the collaboration with CFO Growth Partners has significantly streamlined the entire company's operational activities and supported the transformation from a startup-style viral media into a profitable marketing company.
Bringing Finnish Companies to the World
Grumblo's history has included many phases. Started in startup style, the company works with cars, vehicles, and tech-focused companies. The latest significant change in the company's history occurred during the COVID era when the global pandemic closed all automotive events and forced the viral media company to change its course. Today, Grumblo produced high-quality digital marketing services for the motorsport and vehicle industry.
"Our clients are larger Finnish companies that have launched globally. We have helped them, for example, in global influencer marketing recruitment and produced advertisement productions cost-effectively at the influencers' locations without anyone having to travel," says Grumblo CEO Markus Martelius.
Responsible and Consistent Financial Management
Markus says that the collaboration with CFO Growth Partners' Maria Kivilohkare has helped develop the company's financial management into something more responsible and consistent. Maria's background from larger organizations has helped bring established meeting practices and report templates as part of Grumblo's ways of working.
In addition, Maria has handled KPI reporting, investor reporting, streamlined administrative processes, prepared budgets, and cash flow forecasts for the company. "One of the best changes we have made to the company's operational structure has been activating the management team and Maria acting as part of it," Markus says.
More Efficiency for Company Operations
In addition to management group work, Maria's contribution has significantly freed up the CEO's time. Forecasting and financial management are in much better shape than ever before, and Markus can focus as CEO on leadership through sales.
"Management team work has been a really important instrument, but Maria's participation in general has enabled me to be much more efficient. The best thing about working with Maria is that things can always be discussed as matters, yet every meeting always includes a good amount of humor."
According to Markus, a selling CEO needs a CFO as a partner. If a company is at a scale where hiring a full-time CFO is not profitable, an outsourced CFO is an excellent option.