Item: FP&A and Compliance Modernization
Author: Kevin

Client Overview

Company:

HealthTech AI Startup

Industry:

Healthcare

Region:

United States

Business Challenge

As the HealthTech AI Startup grew rapidly, its finance and compliance processes became bottlenecks:

Difficulty Making Financial Decisions: Due to inaccurate financial data, they could not forecast expenses, understand current cashflow, or make scaling decisions.
Out-of-Date financials: Disconnected accounting and banking systems made reconciliation slow and error prone.
Manual spreadsheets: Financial tracking and forecasting were spreadsheet-based, limiting accuracy and scenario planning.
No Compliance: HIPAA, SOC 2, and HITRUST readiness lagged behind growth, a potential risk to closing new deals.
Lack of the right tools: The team didn’t know which financial tooling solutions would best support investor reporting and long-term planning.

Solution Delivered

Increased.com partnered with the HealthTech AI Startup to modernize their financial tech stack, transitioning from spreadsheets to integrated financial tools and processes.

Together, we built a scalable foundation that made financial data easier to manage and more useful for decision-making.

Key Deliverables & Integrations

Implemented modern accounting platform for cloud-based accounting to centralize financial data, ingest real-time activity feeds, and automate accounting reconciliations.
Implemented modern banking and integrated to modern accounting platform, for easy tracking of transactions, bill payments, employee expense reporting, and cash flow management.
Enhanced Excel financial models with scenario-building capabilities to handle forecasting, budgeting, and “what if” scenarios needed for internal financial decisions and investor reporting.
Developed and implemented new financial processes, set up monthly closes, and structured reporting workflows.
Assisted in evaluating third-party FP&A tools to support investor updates and long-term growth planning.

Compliance Readiness:

Implemented compliance automation for HIPAA and SOC 2 Type 2 compliance audits.
Prepared cloud and technology environment configurations for audits, remediating security and compliance gaps.
Managed policies, training, and auditor relationships to ensure continuous readiness.

The Result

Increased.com’s support transformed how the HealthTech AI Startup manages its finances, making their operations clearer and more efficient:

Improved Data Accuracy: Moving away from spreadsheets cut errors by up to 40%, providing more trustworthy financials for internal decisions and investor discussions.
Clear Cash Flow: Connected tools provided real-time views of cash positions, saving more than 35% of the time spent on bookkeeping.
Audit-Ready Compliance: Automated workflows and policy management accelerated audit readiness by over 75%.
Time Savings: New processes helped free up the leadership team’s time, so they could focus on growth, funding, and sales activities.

“Increased.com provided modern tools and bookkeeping support, moving us from spreadsheets to organized financials. Their FP&A resources are helping us structure our data, track cash flow, and prepare investor updates.”