Challenge

Traditional FP&A tools started to be limited

When Vicky Van Asbroeck initially sought an FP&A solution for Preply, she needed a tool that could:

• Streamline complex reporting processes

• Maintain data accuracy

• Eliminate her team’s dependence on Excel

At this time, the use of traditional tools like NetSuite led to manual work, delays, and inevitable errors across multiple versions of Excel-based reports. These issues were further compounded by the challenge of limited team resources and the need to establish a reliable, real-time strategic function within her department so they could stand out.

Later, as she transitioned to a new role at Clark, Vicky encountered similar challenges, with outdated workflows and a lack of strategic insights holding the company back from making quick, data-driven decisions. Working with Abacum was a requirement for her before joining her new company.

Solution

Establishing Abacum as a strategic partner in FP&A

Abacum proved to be an intuitive, scalable solution that enabled Vicky’s teams to centralize all financial planning and reporting processes allowing them to save up to 25% of the team time.

From Preply to Clark, Abacum supported a rapid, user-friendly implementation, transforming manual reporting tasks into automated processes. Abacum became a basic tool in order to deliver the expected gold standard results of a finance team.

I actually told them before I joined that I wanted Abacum. It was a no-brainer. I didn’t want to waste any time. Abacum delivered on all its promises before, so I knew we’d see the value from day one.

Vicky Van Asbroeck, CFO at Clark

The tool’s flexibility and powerful data integration capabilities allowed for seamless transition from traditional manual reporting to a centralized, data-driven strategy. With real-time reporting and version control, Vicky’s team gained a level of accuracy, speed, and strategic insight that Excel simply couldn’t provide.

Result

'Google Sheets on steroids'

At Preply, Abacum provided Vicky’s team with the ability to produce faster, more accurate financial reports and gain full control over forecasting and budget re-forecasting processes. Vicky saw the tangible benefits firsthand and was so convinced of Abacum’s value that, upon joining Clark, she advocated for implementing Abacum even before her official start date.

Vicky emphasized the value of Abacum’s intuitive interface, which she described as “Google Sheets on steroids“. Key benefits realized include:

1. Significant Time Savings

At both Preply and Clark, Vicky’s team reduced their monthly closing time by at least eight days, a significant improvement that allowed her to focus on strategic work rather than error-checking.

2. Enhanced Strategic Value

With Abacum, Vicky’s finance teams transformed from back-office functions to strategic partners. With accurate data at their fingertips, they could connect operational KPIs with financial metrics, positioning finance as a strategic business driver within the organization.

3. Scalability and Flexibility

Abacum’s adaptability enabled Clark’s finance team to gradually grow and consolidate roles without needing additional hires. Vicky saw Abacum as a means of creating a “lean and mean finance machine,” where time could be reinvested into generating insights that drive business value.

Impact of our team

The strategic impact Abacum’s team had on us

Vicky shared that Abacum’s implementation team went beyond technical support, offering insights that helped streamline her reporting setup.

“The quality of your implementation team is very strong,” she noted.

They’re knowledgeable about Abacum, but they’re also knowledgeable about setting up effective reporting.

Vicky Van Asbroeck, CFO at Clark

This level of support and collaboration transformed Abacum from just another software tool to an essential partner in Clark’s FP&A processes.