Introduction of a Financial Planning System in a Venture-Capital-Backed New Technology Based Firm: A Case Study
This article explores the development and the introduction of a sophisticated financial planning tool in a venture backed start-up company including the decisions derived from the management. The research reflects a interventionist, qualitative single case study design to deepen the insights about this topic. Findings reveal an internal and external demand for transparency caused by the increasing complexity of a growing venture. Further, business model specific key performance indicators (KPIs) play a major role in the decision making process, especially in the case of capitalization and increased hiring. Moreover, we provide a detailed example of an implemented financial planning tool, regarding the development process, structure, specific KPIs and how the company works in the daily business with this system.