Case Study

How Unmind put their FP&A processes on autopilot with Causal

Learn about how Unmind replaced their entire Excel operating model with Causal
3 days saved per month
Time saved via live data integrations and modelling automation.
Self-serve reporting
Stakeholders have access to their financial KPIs and targets, self-serve.
More time for strategic work
Time freed up to focus on strategic, value-add work.
Industry
B2B SaaS
Employees
150
Funding
$60m
Unmind is a Series B workplace mental health platform, empowering employees to proactively measure, understand, and improve their mental wellbeing.

The company operates across the US, UK, and Australia.
Technologies

The problem

Unmind has grown from 30 to 150 people in the last 2 years, and raised its $47m Series B funding in April 2021. David, the Finance Director and team, were running into the challenges of spreadsheet-based FP&A:

  • Spending 3 days pulling actuals + rolling forecasts forward every month
  • Manually generated reports for different stakeholders that needed regular updating
  • Not enough bandwidth to spend time on strategic projects/ad-hoc modelling

Combined with the pace of change of a hyper-growth business, these challenges resulted in a lot of out-of-date spreadsheets, hindering collaboration between the finance team and the rest of the business.

David, was looking for a solution that could automate his team’s day-to-day FP&A and reporting tasks as much as possible, provide accessible real-time dashboards and free up time to partner with the business on forward-looking projects and strategic planning.

The solution

Implementation

Unmind worked with our customer success team to implement their full financial model in Causal over 6 weeks, including detailed and consolidated views for each of the 3 business entities from Xero. During the implementation, Unmind built separate modules for each part of their financial model: revenue, expenses, headcount, P&L, cashflow, balance sheet.

Data

Unmind’s Causal model is connected to live data from Xero (3 entities), Hi Bob, and Google Sheets, and a CRM connection will be added in the near term. Causal’s Version Control functionality let David and his team save “Budget” and “Reforecast” versions of their models, and automatically compare them against Unmind’s actuals each month.

Reporting

Unmind’s charts and tables update automatically in Causal as new data comes in and reforecasts are generated. David and his team have set up custom dashboards with different levels of access for different stakeholders. For the first time, there is real-time access to the financial KPI’s and each department head can track their own metrics against targets, self-serve.

Unmind’s dashboards have been viewed by multiple stakeholders around the business in the past month, and outputs from Causal have become a core part of the company’s board presentations.

Dynamic Modelling

David and his team can quickly generate new scenarios and reforecasts from their Causal model. What used to take a week in Excel can now be done in a day in Causal.

As a testament to this, part-way through the Causal implementation, a new business priority arose and David was able to quickly build a standalone model in Causal to present the new business case to the management team.

The outcome

FP&A on autopilot

Unmind’s finance team has put day-to-day FP&A tasks on autopilot, saving 3–4 days per month:

  • Pulling in and consolidating data from Xero, Hi Bob and Sheets
  • Comparing actuals vs budget
  • Generating reports for stakeholders
Strategic business partnering

This lets David and his team focus on strategic planning and business partnering. As the business evolves, reforecasting and scenario planning can be done in minutes rather than hours, and the team can now operate with full confidence in their numbers.

160 Employees, $63m raised
"Causal has become a core part of our company’s toolkit. The automation and visualisation features let me focus my time on high-value projects and save countless hours when building and updating models. My colleagues love the interactive dashboards, and Causal’s team is great — they’re super responsive and are constantly shipping new features to the product."
David Kay
Head of Finance

Turn your Finance team into a true business partner.

We've helped hundreds of companies streamline their FP&A processes. We'd love to do the same for you.