Paro is an exclusive network of financial professionals. The services they offer include bookkeeping, accounting, tax preparation, financial analysis, CFO guidance, fundraising support, budget forecasting, financial modeling, KPI analysis, and M&A expertise.
Accounting and financial controls are some of the most important functions of a modern company, but they are also serious cost centers. Hiring a full-time bookkeeper can be prohibitively expensive, and it can be difficult to find financial analysts and part-time CFOs that a company’s leaders can trust. Companies rely on accounting firms to manage these processes, but firms are often slow and outdated in an internet age where everything is digital and flexible.
Chicago-based Paro wants to completely evolve the way the finance department of a company operates. Its platform allows companies to hire vetted financial professionals such as bookkeepers, accountants, CPAs, and CFOs on a part-time basis, so that they only pay for the services that they need. That added flexibility can mean that processing times can be shortened even while accuracy is increased and costs come down.
One reason for that massive discrepancy is that companies aren’t hiring accounting firms just to perform the actual accounting work, but also because of the trust that each firm’s brand evinces. That brand safety has blocked the accounting industry from moving more heavily online or toward freelancing. Burdick, along with co-founder Dan Wywrot, started Paro in 2015 to try to close that gap.
Brand wasn’t the only gap that the company has confronted. Professionals in the financial and accounting world are “conservative,” Burdick explained, and prioritize career stability over risk. That has made building a flexible online labor marketplace for the industry challenging — how can you give up your comfortable firm job without knowing how much money you are going to make going forward? If there is one thing accountants can account for, it is their own paycheck.
To solve this other challenge, Burdick and Paro emphasized repeatedly to me that they are deeply focused on “income predictability” for professionals operating on the marketplace. One way the startup increases that predictability is by delivering client work directly to professionals on the platform, rather than creating a free-for-all marketplace. This also has the benefit of saving financial professionals significant time around selling their services, rather than doing actual accounting work.
Paro hopes its value shines though once it starts to match freelance financial professionals with companies. Financial work differs based on the type of a company (think large multinational versus a smaller SMB), and Paro tries to match each business with talent holding relevant experience. Burdick explained that “a successful track record of working with similarly-sized businesses is only one of an evolving set of criteria we take into account when finding the ideal match.”
The startup disclosed that it has had almost one thousand businesses use the platform to hire accounting talent, and it hopes that the data collected through these engagements can help it fine tune its matching algorithms over time.
Meet Our Experts
Paro matches businesses of all sizes and industries with highly vetted financial analysts, CFOs, CPAs, and bookkeepers who have the domain expertise to tackle company-specific problems on an on-demand, basis. Only the top 2% of finance freelancers make it through our screening process. Our highly curated network of finance professionals have years of experience and domain expertise helping businesses, like yours, solve their unique problems.
Comprehensive, On-Demand Financial Services:
Your business is unique. You may need a temporary bump in expertise to handle an acquisition, assistance due to employee turnover, or additional bookkeeping help because of seasonality. Paro can help provide CFO strategy, financial analysis, and bookkeeping to fill any gaps immediately. Paro will work with you to accommodate your specific needs, from short-term projects to ongoing support.
1. Outsourced Accounting and Bookkeeping Services
- Month-end accounting
- Process optimization
- Tax preparation & filing
- Conversion to accrual
- Expense classifications
- Invoicing & payments
- Account reconciliations
- Accounts payable
- Accounts receivable
2. Part-time Controller Services
Controllers are fundamental to many a finance team’s operations. Paro’s controllers are capable of increasing efficiencies in the accounting department, streamlining processes, as well as offloading tasks bogging down the CFO.
Overall, controllers allow businesses to fully leverage the capabilities of both their accounting department and their CFO.
- Budget forecasting
- Budget variance
- Financial modeling
- Proforma modeling
- Financial forecasting
- Scenario analysis
- Pricing analysis
- Data analysis
- Market sizing
- Business plan consulting
- Business model consulting
- Investor reporting
- KPI tracking
3. Financial Analysis & Planning Services
Paro’s vetted financial analysts deliver highly customized models and quantitative analyses. Paro’s financial planning and analysis services equip finance departments to analyze business models, optimize budget forecasts and assess pricing strategies.
You’ll crush your competition when you use data to accelerate to the next level.
- Cash flow management
- Market sizing & research
- Fundraising strategy
- Competitive analysis
- Pitch deck design
- Go-to-market strategies
- M&A due diligence
- Private equity
- Post-merger integration
- 5-year strategic plans
When you schedule a consultation, Paro are on your side to connect you to exactly what you need and what fits your business. So not only is your financial headache gone, but you are only paying for what you need, when you need it.