Glassybaby’s leadership team look to Armanino for the financial and operational information they need to survive and thrive.
In March 2020, the CEO at artisanal glassware company Glassybaby, discovered the danger of poor visibility into operations. Retail stores closed and “normal” production was interrupted by the pandemic. It immediately became critical to forecast cash, inventory production and online sales. The company had no CFO and its existing financial planning and analysis capabilities were insufficient to provide critical navigation assistance. The CEO turned to Armanino’s Strategic Finance Outsourcing (SFO) team for help.
Armanino’s SFO team began by building a financial forecast model. The Armanino team then everaged this tool’s robust production capacity, efficiency, unit cost and pricing measurement capabilities. The Armanino team worked with management across functions to understand variable costs and the drivers of sales in order to refine the forecast and inform production decisions.
Armanino’s team included day to day accounting leadership took responsibility to managemetwo in-house accounting staff. The team is using the refined cost data provided by the financial planning and analysis work to improve cost application and better measure margins. Having a full outsourced office of the CFO has enabled Glassybaby’s executive team to proactively manage their results, rather than reacting to the most urgent problem of the day.
Glassybaby is a private company based in Seattle, Washington. Its primary product is a handmade glass votive, also known as a “glassybaby”, produced in more than four hundred colors and sold over the internet and through retail stores.
Armanino’s team provides the highest possible ROI by delivering just what companies need from their corporate finance function. A strategic finance organization does not just record data. Finance monitor and analyze vital information in order to continually update the organization’s understanding of the past and refine their path to a successful future. Armanino’s team delivers world-class strategic vision to companies at any stage in the growth cycle.