How Galley Put Its Financial Analytics & Modeling on Autopilot
“When I published our first Mosaic dashboard, the reaction was, ‘Wow, this is so cool.’ Mosaic lets us easily hop in to see our most important metrics — there’s really no reason to be in a spreadsheet.”
Jason Peretz
Chief Business Officer & VP of Legal, Galley
About Galley
Galley connects the dots of food data to create a system of feedback loops that helps food industry organizations make better decisions faster. Its “recipe-first ERP” platform centralizes food data to create a source of truth for recipes, which then drives purchasing, inventory management, training, menu planning, and more while providing insights to increase profits, reduce waste, and improve efficiency. In early 2022, Galley raised $14.2 million in Series A funding.
The Challenge
Relying on Spreadsheets Ate Up Precious Time and Money
Like every startup, Galley runs a lean operation that moves quickly. Recognizing new opportunities and swiftly making the right moves are key to the company’s success, which relies on getting financial, sales, and other metrics into the hands of decision-makers without delay.
“We were using a bunch of spreadsheets to track KPIs,” explained Jason Peretz, Galley’s Chief Business Officer & VP of Legal. “Plus, since we didn’t really keep up with our CRM data after the contract was signed, we had to manually clean that customer data every month.”
To keep up, Galley employed an outside service to maintain its spreadsheet models and dashboards each month. But that added additional overhead costs and resulted in complex spreadsheets that became too labor intensive to update internally.
“The finance firm created the spreadsheets, so it was just easier and faster to continue paying them to make the updates or add new KPIs,” Jason added. “But then we started reconsidering our use of spreadsheet-driven dashboards and this outsourced model.”
Galley started searching for a new financial analytics and modeling solution that would reduce their reliance on the outside firm and complex spreadsheets. Jason knew he had to first clean up Galley’s HubSpot CRM data, but he also wanted to automatically pull in that data, as well as GL data from QuickBooks and revenue data from Stripe, to get real-time financial insights.
"We didn't have a centralized view of all of our financial KPIs and we were paying an outsourced firm to continually update our models and dashboards. That led us to look at whether we should be using spreadsheets at all."
The Solution
Accurate, Real-Time Business Insights to Enable Faster Decisions
Galley started searching for a better solution to their financial dashboarding needs. When Jason first saw Mosaic, he knew it would make a huge impact.
“I remember seeing a Mosaic demo and thinking, ‘That’s what we need!’” Jason recalled. “We immediately started the process to switch our financial modeling and top-line planning into Mosaic.”
Galley started with Mosaic’s out-of-the-box integration to QuickBooks, and after they cleaned up their customer data, added integrations to HubSpot and Stripe. Galley also uploads payroll data to Mosaic monthly via a simple file upload process.
“We’re using our HubSpot customer data to run revenue analytics, pipeline analytics, and create some nice revenue dashboards,” said Jason. “We also do a lot of scenario modeling to better understand our runway and how, say, if we raised X dollars, how many more people could we hire, or what would be our revenue potential?”
Galley also found fast value using Mosaic’s AE waterfall modeling capabilities to replace its previous manual spreadsheet model. Jason explained that Galley’s relatively long AE ramp period combined with its high average revenue per customer requires a tricky model, especially as new hire start dates spread across months and quarters. But, as Jason said, “Having it all in Mosaic is super helpful.”
“When I published our first Mosaic dashboard, the reaction was, ‘Wow, this is so cool.’ We could see it all, every metric we needed, all in one place.”
Jason uses Mosaic to create Galley’s monthly income statement, balance sheet, and cash flow reports, too, adding that he “rarely goes into QuickBooks” now that he has Mosaic. Galley also uses Mosaic for ad hoc financial modeling and to better understand SaaS- specific metrics, and executives use Mosaic to track sales revenue analytics.
The Impact
More Time to Focus On Success and Less Resources Consumed by Spreadsheets
With Mosaic, Galley spends less time maintaining complex spreadsheets and less money on outsourced financial services. But what’s even more valuable are the centralized, up-to-date insights Mosaic provides to the company’s decision-makers as they work to accelerate growth.
“Mosaic lets us easily hop in to see our most important metrics — there’s really no reason to be in a spreadsheet,” said Jason. “It’s incredible. And, because deploying Mosaic pushed us to first clean up our HubSpot data, we can now go back to see historical data, slice our ARR by market types or other criteria, see net dollar retention by customer types, customer segments, and more. We weren’t able to do that before, unless I put together some complex spreadsheet.”
Compared with Galley’s previously outsourced and spreadsheet-driven dashboards, the company is saving both money and time. For Jason, updating a model or dashboard is as easy as changing a date, and the automatic Mosaic integrations update everything with current data in an instant. Mosaic also gives Jason detailed insights into its renewal pipeline. And, Galley has eliminated the cost of outsourcing the maintenance of those dashboards and now relies solely on Mosaic.
Galley is now working to bring even more metrics, KPIs, and dashboards onto Mosaic, including sales metrics like goal attainment while applying risk percentages for a more accurate look at sales potential.
“The biggest impact is time savings. Mosaic would also have saved us a lot of time had we had it when we raised our Series A round. And since it pushed us to clean up our CRM data, getting insights on our post-sales data is now just smooth sailing.”
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