Who is Vimcar?
Vimcar is a Berlin-based fleet management SaaS solution that has experienced astounding growth since its founding in 2013. Initially serving as a B2C offering, Vimcar has since expanded to B2B and accelerated their European reach by opening in the United Kingdom back in April 2020.
With over 100,000 company vehicles connected to its platform and multiple new B2B product offerings, Vimcar began to experience new challenges when trying to conduct their analysis and reporting on their KPIs.
For Financial Analyst Michael Hein, Vimcar’s growth was also reliant on preparing investor reports. They required a lot of manual work and time, where KPIs such as MRR development, Unit Economics, and Cohort data had to be broken down and segmented. While this manual work was manageable in the beginning, the process became more intricate as the company continued to scale and grow into different territories.
Through the use of Abacum, the growing and constantly evolving complexities of Vimcar’s datasets could be properly handled and segmented much easier. Plus, the finance team could consolidate all their datasets without having to rebuild existing spreadsheets.
How Abacum helped
- Mapped the data from all 13 datasets and found the real source of truth. This allowed them to construct and extract all of the data in just a single report. For Michael, this reduced document management and simplified overall data preparation time.
- Thanks to the table builder feature in Abacum, Vimcar was able to create customized tables tailored to his data visualization needs without wasting time.
- Michael can easily use the Abacum platform to get feedback from stakeholders, like CFO or other business partners, early in the process of creating the reports. There’s no time wasted going back and forth through emails or unnecessary meetings, which accelerates the process of generating insights and makes for more effective investor meetings.
“Getting the investor report done quickly while having accurate analysis and insights to show was a key priority for the finance team. I saw the time and effort it took to prepare the reports and I thought that it could be done in a better and more efficient way.” Michael Cikanek, CFO
Through automation, a customer-centric mindset, and ambitious drive, Vimcar saved multiple days per month preparing investor reporting and eliminated inflexible operational models.
Getting the facts
- Reporting process decreased from 3 days to 1 each month, 30 slides with many different variables that are tricky to manage and having to do a repetitive process
- Cash flow classification went from 4 days to 1, Abacum’s automation allowed Vimcar to consolidate their data into a single platform
- The company only needed 3 weeks to work independently with the platform. They went from implementation in June of 2021 to forecasting the very next month.
- 5 days saved on total manual work