Tech-Driven Kinetic Gains Clarity and Control with Graphite’s Outsourced Finance Solution
SaaS Startup
Industry
SaaS, Hardware
Founded
2014
Website
Services
Bookkeeping, Operational Accounting, Tax
Background
Kinetic, co-founded in 2015 by Haytham Elhawary, is a company with a mission to build technology that reduces workplace injuries. With a complex business model that includes selling hardware, software, and services, Kinetic faced challenges in managing its finances as the company scaled.
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Haytham Elhawary, CEO & Co-Founder As Kinetic raised significant funds during its seed round and sales began to ramp up, the company’s existing financial model and CPA were no longer sufficient. The board started asking questions that the team struggled to answer, and it became clear that a more sophisticated solution was needed to handle the company’s month-to-month accounting and provide a better understanding of the business.
Kinetic engaged Graphite to help address their financial challenges. Graphite’s team worked closely with Kinetic to build a tailored financial model that accounted for the company’s unique combination of hardware, software, and services. The model was iteratively refined over several months to ensure it met Kinetic’s needs and could be easily updated each month.
In addition to the financial model, Kinetic leveraged Graphite’s services for accounts payable, accounts receivable, and preparing monthly report packages for both internal management and external stakeholders such as investors and banks.
Results
With Graphite’s support, Kinetic gained clarity and control over its finances. The outsourced finance solution provided the flexibility to adapt as Kinetic’s business model evolved, even when the company added insurance to its offerings. Graphite became a true partner to Kinetic, with the relationship spanning over five years.
Haytham Elhawary, CEO and Co-founder of Kinetic, recommends Graphite to companies with simple OR complex business models that require a tailored approach to financial management. He advises seeking an outsourced accounting solution as soon as the need arises, especially when external investors are involved, to alleviate pressure on the CEO and ensure proper financial reporting.
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