Based in Philadelphia, online retailer Revzilla.com provides motorcycle enthusiasts across the globe with premium apparel, accessories, and parts. Started in 2007 by
three friends and fellow riders, RevZilla.com was born to create the ultimate online cycle gear destination.
Intense care for both their customers and employees earned RevZilla the 2016 ‘#1 Top Workplace in Philadelphia’ designation for mid-size companies.
Consistent with their desire to provide value to their customers, RevZilla also hosts a very popular YouTube channel, RevZillaTV, that has garnered an amazing 81 million views to date while providing cyclists with gear guides, product and motorcycle reviews, and maintenance insights.
RevZilla’s sales volume has soared as their customers respond to their outreach and vigorous customer care focus. Staff size more than doubled as well, moving from under 100 employees in 2014 to 235 within the past two years. RevZilla Controller Mark Dorfman recognized the need for a dedicated budgeting solution, as this rapid growth made both processing and analyzing their financial information more critical as well as more difficult.
RevZilla experienced growing pains as Dorfman realized that using Excel to budget had become too cumbersome and he needed to find another solution.
He continued “When you added a line or changed a description or copied and pasted from one area to another, you’d have to remember where all your links were coming from and where they’re going to. Then you’d need to update everything. You’re always going to get numbers. The question is ‘are they going to be good numbers’.”
Streamlining RevZilla’s personnel budget planning and their financial reporting were also critical to address. RevZilla needed a system capable of getting to an individual employee level of detail to increase the accuracy of their payroll and benefit budgets. Financial reporting entailed Dorfman creating four different versions of the P&L in Microsoft Excel every month (current month actual vs. budget, YTD actual vs. budget, current month actual vs. same month 2015 actual, and current YTD vs. 2015 YTD). However, if an expense in January didn’t recur in February, Dorfman would need to hunt down the variance, and insert lines and data in each version of the P&L every month, costing him a significant amount of time and increasing the probability of error.
Dorfman was familiar with Centage’s Budget Maestro from conducting an extensive search for a budgeting solution for his prior employer, a clinical trial company, where ultimately Budget Maestro was selected as the best software for their needs. With RevZilla’s requirements in mind, several potential solutions were examined: Adaptive Insights, Profitbase, BOARD and Vena Solutions. “Budget Maestro began percolating to the top of that list as well,” Dorfman recalled.
A hands-on demonstration confirmed that Budget Maestro and its dynamic reporting solution, Analytics Maestro, were the right tools for RevZilla. Budget Maestro’s ability to use drivers to link many of the revenues and expenses would streamline the budgeting process while increasing its precision. The formula-free nature of the Budget Maestro and Analytics Maestro solutions was also enticing, particularly when Dorfman considered what-if scenarios and budget revisions. Pulling information from Analytics Maestro in the form of reports, graphs and dashboards would now be possible without the need for complicated links or pivot tables.
Dorfman appreciated the flexibility of being able to work with the Budget Maestro installation and training team on a schedule that didn’t require pulling him away from the office. “My training was excellent and my trainer was patient and accessible.”
RevZilla’s monthly financial report building and preparation time has dropped from six to ten hours per month preparing them in Excel to just half an hour, total, each month. Dorfman asked each department head what they wanted to see at month end and created custom templates for each department in Analytics Maestro. Each month he opens his templates, refreshes the data, and emails the reports in the views that each manager requested. All in just minutes.
The budgeting process now includes importing general ledger data from NetSuite, then using more than a dozen drivers, such as order volume and headcount, to develop and manage the planning within Budget Maestro.
Dorfman integrated multiple sources of financial and operational data, creating robust reports and analysis that are relied upon to manage the businesses. The ability to view metrics for each entity is providing the details management needs to make fiscally informed decisions.
Relieved at no longer needing to manage his budget in Excel and now able to share more budgeting responsibilities with his team.
Location: Philadelphia, PA
G/L System: NetSuite
“There were so many functional pivot tables, and a lot of it was forecasting. I wanted to be more robust with my report generation and I wanted to get away from Excel.”
– Mark Dorfman,
Controller of Revzilla.
“With Budget Maestro, it’s a program, and once you understand the workings of the program, you don’t have to figure out someone else’s spreadsheet assumptions and methodology.”
– Mark Dorfman,
Controller of Revzilla