How Flipside Crypto unlocked company-wide efficiencies with Abacum

How Flipside unlocked efficiencies across the business

With the additional week saved each month from implementing Abacum, Ryan was able to focus on more strategic needle moving initiatives and as such, has helped add more value to both Flipside and his own professional development across a few areas. 

1. Transformed the board level reporting

In Ryan’s own words, he likes to try and “break in a tool to find out the limits” so did his best to break Abacum, without too much success (thankfully!).

In doing so, he built out a whole aspect of the Flipside balance sheet which snowballed into being the basis for their current board level reporting.  

“Because I’m sitting closer to the data, I’m now part of our digital asset treasury committee who decide what our portfolio should look like over time and have a real impact on that group. 

We’re now using Abacum for board of director reporting and all sorts of higher stakeholder level dashboards. 

The benefit of this is before where I’d have to get into the weeds and manually produce something, with Abacum I can just send a link and have a conversation with the heads of these departments and focus 100% on the numbers, rather than spending 50% of the time preparing them.”

Abacum’s dashboarding capabilities drive higher level conversations and make the sharing of performance data a more collaborative experience.

As every senior figure has access to this information, we’re helping to transform board level reporting by mitigating the need for building presentation slides, for creating and maintaining spreadsheets, saving people across Flipside significant time reporting on performance.

2. Elevating the role of finance professionals

At Abacum, our mission is to make finance the heroes in their organization and this means putting them in the heart of strategic decisions. 

For Ryan, he found this to be the case by automating his reporting with real time data, he became the go to expert for analysis and was invited to join the operational leadership team. 

“It’s elevated me so that I’m not spending half my day in a model and I can actually utilize the output of the numbers like a CFO would and offer up recommendations or insights based on those numbers in real time. 

And without necessarily ever having maybe looked at that dashboard prior to the conversation. I rolled over a dashboard from last month, there’s new numbers in there but we’re going to talk to them in real time. 

You’re not going to be in the know or a pure expert on every number, or every dashboard, or every table. But the ability to have hundreds of them available at your fingertips for any use case versus “I’ll get back to you in 24 hours” can be really impactful.”

3. How real time data added value to stakeholder across Flipside Crypto

With crypto being one of the most volatile assets and open 24 hours a day, the ability to have real time data at your fingertips was a major value add to Flipside. 

“As an operator and director, I have to decide what data I want to use in real time and what I don’t. I never thought I’d be in a position to say our data is too fast for anyone to plan around but that is the reality now with Abacum”. 

Where previously Ryan was copying and pasting data into a spreadsheet hundreds of times a week, he has now built a digital treasury dashboard in Abacum which pulls real time information on the value of their treasury at any point in time, available to all key decision makers in the business. 

This has enabled the CEO to make better decisions, the CFO to make better decisions and even the data science team correlate their own analysis. 

The power of Abacum is bringing everyone together, working off one set of accurate, real time data to accelerate performance and business growth.