After nearly a decade perfecting its own underwriting algorithms, Zest AI, founded in 2009 and headquartered in Los Angeles, California, decided to sell its machine learning models as a service for other lending organisations. And by more accurately identifying credit-worthy consumers, the company helps its clients expand their portfolios while reducing the U.S. economic opportunity gap. Even prior to this SaaS pivot, Zest AI’s finance team struggled to manage and consolidate high-volume financials across eleven different entities using a heavily customised version of QuickBooks Online. In addition, just getting the books closed each month, they spent a significant amount on outside consulting fees. Around this time, the business also brought on a CFO to prepare for continued growth and for the ASC 606 requirements of its new subscription model. The CFO knew automation could help the team far better manage increasingly complex, multi-element contracts. Thus, Sage Intacct’s ability to integrate with other best-in-class systems, ease of configuration and implementation, and reputation for top-notch customer service was a clear winner to choose.
By migrating to a modern system for core financials and revenue management, the Zest AI’s team cut 60% from their yearly consulting costs, kept pace with the organisation’s 100% year-over-year growth, and effortlessly supported in-depth due diligence for the company’s recent $15 million venture investment. See what else Sage Intacct did for Zest AI in the following Case Study below.