Onboarding process with Vestberry
How long does it take to get on board at Vestberry, what are the best practices, and how to choose the right onboarding package for you?
Norrsken VC, leading Europe’s largest ecosystem for impact tech entrepreneurs from Sweden, is a VC fund from Sweden that has successfully completed the onboarding to Vestberry within just 4 weeks.
The primary goal of the onboarding was to train the client how to use the Vestberry platform and do complete data migration for all 30 companies within their portfolio as quickly as possible, including financial KPIs, transaction data, cap tables, and fund management data. The role of the Customer Success team was to do a data gap analysis, consolidate, and transfer data so that the client could get a clear value from using the platform within a few weeks.
The challenge that Norrsken VC faced is a similar one to many VC funds – unstructured and unconsolidated portfolio data spread across several Excel files which oftentimes led to increasing the risk of errors and lack of transparency. In addition, the client was not able to work with real-time data. The onboarding was scheduled for one month, with one project owner from the client’s side. The client had limited resources and requested Vestberry to support and complete the data migration. The goal was to onboard the client fully to be able to present the tool internally and start using it as soon as possible. Norrsken VC also wanted to utilize all Vestberry features and requested the Vestberry team to implement a complex set of historical portfolio data: financial KPIs, investments, fund management data, and cap tables.
Norrsken VC knew change was necessary, but moving all the data from Excel files to portfolio management and reporting software is not always easy.
Onboarding in numbers
Training & Consulting
Gap Analysis & Data Transition
Dedication from the client’s side during the onboarding is essential. Understanding this, the client can have a single source of truth, the right numbers in place, and higher process efficiency within a few weeks.
Kick-off call with the dedicated CSM, who prepared a tailored package. During the kick-off call, the milestones and essential deadlines were agreed upon.
During the onboarding process, the client had dedicated CSM support, and the client also actively participated in training sessions.
The client decided to use Vestberry Excel templates to fasten the onboarding, and after power user training, they were able to work with Vestberry confidently and train their own team.
Thanks to all the requested documents provided by the client on time, the CSM team could do the gap analysis, consolidate the data and transfer it into the platform in just 35 hours.
Onboarding was a success
In just 4 weeks, Norrsken team could
Use Vestberry as a confident power user after 5 hours of training,
See real-time consolidated portfolio data such as financial KPIs, investments, cap tables, and information about financial rounds.
See various fund KPIs such as multiple, IRR, TVPI, DPI, and RVPI, all visualized in dashboards and charts.
Access and download multiple Excel reports such as portfolio summaries, KPI overviews, and others.
Thanks to Vestberry, Norrsken VC improvedd their workflow
Single source of truth
Eliminating the risk of error caused by managing portfolio data in several Excel files, achieving a single source of truth, and optimizing processes.
Clean & consolidated data
Getting clean & consolidated data for a whole portfolio in one master database, with optimized data collection and reporting process in place enabling fast decision making.
Having real-time tracking of portfolio and fund performance metrics, and export reports for maximizing performance and improving transparency.
Quantonation operates with AUM of € 50 million and has 18 portfolio companies under its belt.
It saves us a lot of time when we collect information from our portfolio companies. Also, we like how Vestberry combines the data from multiple sources into dashboards, which we can customize according to our preferences.