Oppo brothers was managing its cap table and all relevant equity reports on spreadsheets. However, the company soon started to realise this wasn’t a viable long-term solution. As CFO Sophie Boubenne explains, ‘Tracking just became difficult. Every time there was an internal transfer, it was an issue to figure out who had the latest cap table version, or who has this or that spreadsheet. And it wasn’t just the cap table - there were also the options, and a convertible note at the time, which were all becoming a little tricky’. Spreadsheets also fell short when it came to providing transparency around company transactions, as well as allowing the company to trace historical data. That’s how Oppo Brothers started looking into digital options that could keep their data ‘clean’ and centralised. ‘Our ambition is to keep growing, and we were going to need a sustainable system for that in the future. It just felt like the right thing to have one platform where all our financial information would be concentrated,’ says Sophie.
I really like Capdesk’s price, considering the hours and potential mistakes we save by not using Excel. But honestly, I think the biggest benefit is the time it saves me. I’d say that, per year, Capdesk saves me a good ten hours. I would absolutely recommend it.
Currently, Oppo Brothers uses Capdesk primarily to keep an updated and transparent cap table, as well as track transfers, options, and any potential convertible notes. ‘The cap table in particular is fantastic,’ says Sophie. ‘In the beginning I thought I’d have to drill down every time I wanted to get information on a specific shareholder, but it’s actually very straightforward’.
The platform has also helped boost communication and transparency for the company. ‘Before Capdesk, we’d have to send spreadsheets to each other internally every time there was an update to our equity structure, but now the communication has improved massively,’ explains Sophie. ‘And I love having the ability to invite a shareholder to access information instantly, too. For example, I’m planning to invite our accountant, so they can follow changes as they occur, rather than waiting till the end of the year when we do our confirmation statement, and having to regroup the data for the entire year then. But it’s also great that you can export to Excel, because sometimes you want to share data with third parties but not give access to the platform - like people dealing with your EMI scheme, let’s say.'
Finally, Capdesk has simplified access to historical information for Oppo Brothers. In Sophie’s words: ‘When we were onboarding to Capdesk, I had to pull out God knows how many spreadsheets to rework years’ worth of transfer data. If we had already been on Capdesk, that‘s a problem we wouldn’t have had at all.
Overall, Sophie remains happy with her experience. ‘I really like the price considering the hours and potential mistakes we save by not using Excel. But honestly, I think the biggest benefit is the time it saves me. I’d say that, per year, Capdesk probably saves me a good ten hours. I would absolutely recommend it.’
In the near future, Oppo Brother plans to extend its use of Capdesk into executing Companies House filings as well.
If you'd like to know more about the types of companies that use Capdesk and whether it's right for you...