- Case Study -

Protobi

The wave-making “survey explorer” based out of Belmont, MA, is reaping the benefits of automated bookkeeping by Botkeeper.

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Protobi Hired Botkeeper to Save Time—And It’s Working

Protobi, a survey analytics application, was using a traditional bookkeeping firm to manage its books prior to enlisting Botkeeper, but they weren’t getting the full-service experience they sought. The company decided to replace the bookkeeping firm with Botkeeper, an automated bookkeeping solution.

As a result, Protobi was able to customize their bookkeeping package, including creating a streamlined automated invoice process for their customers and getting the real-time financial insights that they needed in order to make good business decisions and continue to scale.

 

Protobi Helps Tell the Story Beneath the Data

More than 100 life science firms, ad agencies, and universities depend on Protobi for their survey analytics. The company has been a leader in professional market research and survey software platforms for almost eight years, owing its success to an innovative design that arose from the cumulative input and suggestions of many thoughtful analysts, decision-makers, and statisticians. Protobi was specifically created to streamline the analysis process to see, explore, and share clients’ surveys and research data instantly.

Protobi’s Growth Led to New Challenges

When Protobi experienced 100%+ growth in their client base, they also saw an increase in the requests for services from existing clients, resulting in a substantial amount of invoices, checks, and transaction categorizations.
 
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“We ended up with so many invoices and even more incoming electronic checks. We were struggling to find the time to match the checks to invoices in a timely fashion,” said Pieter Sheth-Voss, CEO of Protobi. We needed a bookkeeping solution capable of easily matching invoices with checks, and something that would allow me to remove myself from this manual process so I could focus on our big-picture financials.”

 

A Solution Fit for Protobi

Protobi needed a bookkeeping solution that could accommodate the current and future bookkeeping demands of its business. In mid-2018 Protobi decided it was time to start exploring other bookkeeping alternatives that could automate the time-consuming tasks. They explored a bit but found that they were being quoted higher prices under a monthly retainer for services they didn’t need, plus most had an upfront fixed cost to clean up their books. Then Sheth-Voss remembered a lunch-and-learn presentation he had seen back in 2016 at Workbar from a company called Botkeeper.

“We set our sights on a solution that we could easily integrate within our existing bookkeeping processes and our business."

When he researched Botkeeper, he found that between the lower cost, the automated option to address his invoicing process, and a flat hourly rate for cleaning up the books, he knew they had found their new bookkeeping partner in Botkeeper.

“We set our sights on a solution that we could easily integrate within our existing bookkeeping processes and our business. Botkeeper met us where Protobi’s needs were today,” Sheth-Voss explained. “On my onboarding call, the Botkeeper team asked me to explain and share my current bookkeeping processes so they could find ways to fit into my current process, not have me fit into theirs.”

A Hands-Free Track to Bookkeeping

Now, Protobi has been able to completely eliminate the time spent doing their books internally. Botkeeper’s robust capabilities have given them the accounting department they needed to build out their automated processes while also providing them a dedicated Bot team as questions come up.

“We love that there is an entire Bot team behind Botkeeper that already knows our books. We are not reliant on just one person. If someone is out on their side, Protobi always has the support they need,” Sheth-Voss said.

"Botkeeper met us where Protobi’s needs were today. On my onboarding call, the Botkeeper team asked me to explain and share my current bookkeeping processes so they could find ways to fit into my current process, not have me fit into theirs.”

Botkeeper built a seamless invoicing and reconciling process for Protobi that easily tracks and categorizes transactions—ensuring that electronic checks sent by clients are automatically matched with invoices. As new clients sign on with Protobi,  Botkeeper has automated the reconciling of invoices and payments, allowing Protobi to focus on servicing their clients and providing them exceptional value.

Lastly, Sheth-Voss went from spending more than six hours per month of his time organizing Protobi’s books to get the full financial picture he needed to being able to get that time back with Botkeeper. Through Botkeeper dashboards, he now has real-time, transparent data that he can use to analyze and think through his company’s strategy for the future anytime he needs it.

“With Botkeeper, we made a light investment to completely automate our  bookkeeping process. I don’t feel like I hired a team of Bots; it feels like I hired an entire knowledgeable accounting department that is solving both my needs and my customer’s needs,” Sheth-Voss said. 

“And the best part: once I started using Botkeeper, I realized that they follow the same business model we use at Protobi—a simple, easy-to-use software tool for their customers.”

Are you ready to follow Protobi’s lead in automating your books? Click below to get in touch with a Botkeeper rep and find out what’s possible!

 

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