Company Overview
WCI Data Solutions provides data management & business intelligence solutions for various industries and has worked with some of the world's most well-known brands. They specialize in integrating business systems so decision-makers can organize, optimize, and analyze business data to make more profitable decisions. WCI has been recognized by Forbes as one of America’s Best Management Consulting Firms, and they were one of the founding members of Asaph Ventures.
Executive Summary
Instead of providing data analytics consulting services, WCI Data Solutions was finding it hard keeping up with day-to-operations. Through a partnership with Asaph Ventures and the implementation of a shared service model of business, WCI was able to focus on growing its data solutions business instead of its operational burdens.
Challenges
Invoicing and payment collections were taking up a great deal of time for WCI. As a smaller company, WCI doesn’t process invoices at a high frequency. Still, the invoices do require significant attention to detail. The company needed to consider the terms of engagement or other special arrangements and make sure to bill the correct client. Once the invoices were issued, collecting payment was another difficult task. Keeping up with the invoicing details and building relationships with clients’ accounts payable departments was beyond a full-time job. The entire process consumed a lot of time, energy, and resources the company could easily spend on other business activities. WCI was eager to offload these tasks, but they needed a partner to help.
How Product/Service Helped
WCI turned to Asaph Ventures. Asaph Ventures had the expertise to understand WCI’s industry, and the company was able to execute a proven process that improved the data solutions business. Through its shared business services model, Asaph Ventures was able to take over invoicing and payment collections. Other operational tasks were absorbed to create more time for WCI to focus on business growth. Working with Asaph Ventures, WCI gained access to collaborators in Asaph Ventures’ network of companies. Through the network, the companies share experiences and provide each other with valuable feedback to grow.
Results, Return on Investment, and Future Plans
Confident execution of the company’s back-office tasks has drastically improved WCI. The company can center its attention on data solutions, the core of its business, without worrying whether operational tasks are complete. Now, they are part of a broader community within Asaph Ventures, where they share ideas directly impacting the business’ growth.
