Eco Bike Co is an industry leading provider of e-bikes in the UK. They are passionate about making e-bikes more accessible. As a fast growing start-up, Eco Bikes required assistance in implementing a finance function that was able to scale with their business.
Finance built from scratch
As a fast growing start up, Eco Bike required a finance function to be created and implemented effectively.
Having the correct infrastructure in place from day one was imperative for a business with ambitious growth plans.
Abacai established the financial infrastructure for Eco Bikes.
This involved implementing Xero as their accounting software and setting up automated systems and key processes for the business to run and scale as efficiently as possible.
E-commerce specific reporting
Eco Bikes required monthly reporting that went above and beyond standard financial statements.
As an e-commerce business they wanted KPIs that were relevant to their business.
Abacai delivers monthly reporting on a set date each month which combines financial statements with metrics such as:
CAC (cost of acquiring a customer) and ROAS (return on advertising spend).
New customer spend vs returning customer spend.
AOV (average order value) & gross profit per product sold.
Accurate cashflow Forecasting
For Eco Bikes to scale at pace, it was crucial that they are able to accurately forecast their future cash flows.
Moving from a drop shipping model to holding inventory, being able to accurately forecast future cash flows was paramount to the success of the business.
Abacai utilised their extensive e-commerce experience and collaborated closely with the Eco Bikes' management team, to construct the original cashflow forecast.
The forecast is updated monthly to reflect the evolving requirements of the business, ensuring Eco Bikes have the information they need to make key spending decisions.
"Abacai were fundamental in setting up the financial processes we required to rapidly scale our business. They’re truly the only e-commerce specialist finance function available on the market and they've far exceed my expectations"
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