Just because your CV says you’re a spreadsheet maestro, doesn’t make it true.
Before you flub your company’s finances, check out new Melbourne-based online marketplace Vumero.
Vumero – a mix of ‘numero’ and ‘value’ – pairs businesses and entrepreneurs with financial professionals, freelancers and other sum-savvy advisers.
Vumero is the brainchild of CEO John Persico, COO Johann Odou and CTO Sebastien Eckersley-Maslin. The trio developed the online marketplace to overcome some of the “pain” they themselves had experienced in the financial services industry.
According to Persico: “We often felt that the late night culture instilled in the financial services industry could be avoided if people learnt to work smarter as part of the Work 3.0 movement – including recycling knowledge, collaboratively learning and accessing an available network of resources on demand.”
Vumero also aims to address the barriers that exist between them what have financial know-how and those whose idea of tackling tough sums involves taking off their shoes and socks.
“In many ways we have created an ODesk-style business – dedicated to the finance industry.”
Vumero’s goals for the future
Having launched in December 2011, after just nine months’ planning, Vumero has two primary goals over the next 12 months: to build a quality library of Excel spreadsheets and financial model templates, and to educate businesses on the benefits of posting finance tasks to world-class finance professionals.
“Vumero truly believes that all global businesses can make great financial decisions if they have access to the great professional capability and resources.”
“Everything from reviewing a complex financial model, preparing a cashflow forecast, managing inventory levels to valuing your online startup,” Persico says.
“[Our] long-term vision is to become the world’s most trusted and value-adding global professional services marketplace.”
Which comes first, the chicken or the spreadsheet?
Just to keep things interesting, Vumero has effectively launched two marketplaces on the one website – a document repository and a freelancing community – “which introduces a few additional strategic and operational complexities,” Persico says.
“A major challenge with any marketplace is to understand ‘chicken and the egg’ interplay and responsiveness between buyers and sellers.”
“Building credibility and trust within the finance industry requires open feedback, transparency and authenticity. The Vumero team remains focused on maintaining the quality of spreadsheets and financial models and upholding a strong value-adding community of financial analyst and financial modelling professionals.”
“We also help ensure credibility by maintaining a quality rating system, independent verifications, secure Escrow processes, effective dispute resolution, transparent user profiles and strict confidentiality procedures.”
Although Vumero only launched a month ago, the company’s happy to share useful nuggets with other aspiring online marketplaces.
“Start simple. Understand the price and demand elasticity between buyers and sellers in your chosen marketplace. Never forget why you are creating a marketplace. Get your hands dirty. Focus on the ‘big trends’. Network widely and aggressively.”
And that’s not all.
“Mistakes are awesome if you learn from them. Demand excellence in everything you do. Measure everything. Even the things you can’t measure are super important. Always thank all your loved ones for all their encouragement and support.”
“Have lots of fun.”