Decimal “Took Effort and Time to Understand the Business”
Decimal helped HyperTrader regain control over its accounting operations and improve the time-to-close books at month-end.
The Scenario
“I needed numbers and I didn’t have them”
HyperTrader launched in 2018 with the goal to bring “access to technology resulting in democratic access to markets.” With eyes on a broker-dealer license, there are strict requirements for when books must be submitted. Unfortunately, the previous outsourced bookkeeping solution was not delivering books on time.
Key Challenges for HyperTrader
The previous provider delivered books 15 to 20 business days into the next month. Amar Gautam, CEO, mentions that he “wants to focus on the real business and not bookkeeping because bookkeeping is not our business.”
“There was really not a current view of what the business was”
Choosing Decimal
The HyperTrader team wanted to avoid the traps they fell into with the previous provider. Amar mentions, “sales were very upfront about what they’re offering…and the implementation team gave us a feeling that they really cared for us.”
Implementing Decimal
HyperTrader embraced the priority of speed and Decimal achieved one of the quickest implementation periods in just under a month. Decimal also found mistakes in the books from the previous provider and fixed them before tax season.
“Decimal really took effort and time to understand the business”
The Decimal Difference
“I get perfect books at the end of the month… that’s a huge time saver”
After working with Decimal, the HyperTrader team saw tremendous benefits with visibility, proper revenue recognition, and timely delivery. Amar says “I don’t have to worry about all that. I don’t have to do multiple email follow-ups. I just go to Quickbooks and I get the report.”
