Case Study
Automating Blockchain Financials – Hedgey Finance's Success Story
$1.7M +
Automatically Accounted
10 Hours/ Month
Time Saved
~200+ Transactions
Monthly Volume
Intro
Hedgey Finance: A leading name in providing token vesting, lockups, grants, and distributions for teams, investors, and communities. As a rapidly growing entity operating on the Ethereum blockchain, Hedgey faced the arduous task of automating their month-end close.
Challenges
With most of Hedgey's financial operations taking place on the Ethereum blockchain, Alex, the co-founder, found himself overwhelmed. The challenge? Sifting through an array of transactions and distinguishing staff expenses from other operational expenses such as contract deployment, marketing, and DeFi deposits or withdrawals. With the sheer volume of these transactions, Alex was dedicating between 5-10 laborious hours each month exclusively for reviewing transactions – a manual and time-consuming endeavor.
Solution
Enter Entendre. The connection was more than just a vendor-client relationship. Alex had previously collaborated with Kareem, the founder of Entendre, at WeWork on various internal tools, making Entendre a trusted choice.
Entendre offered Hedgey its pioneering automated financial statements. With Entendre, the Hedgey team could seamlessly draft their balance sheet and income statement at every month-end, saving an additional 5-10 hours. Impressed with the prowess of Entendre's platform, Hedgey further strengthened their alliance by integrating it into their system, thereby assisting their customers in automating equity and token compensation accounting.
Results
With Entendre's AI accounting platform, Hedgey Finance transitioned from manual, spreadsheet-based accounting to a streamlined and automated system. This not only alleviated Alex's workload but also instilled confidence in their financial statements, thanks to the 100% accuracy rate.
$1M+
Dollar Value
200+
Monthly Transactions Automated
10 Hours
Monthly Time Savings
Testimonial
"Crypto accounting has always been a daunting task that I'd procrastinate until the eleventh hour. But with Entendre, my company's books are now automated, and we can close them with unparalleled accuracy just days after the period ends. The platform's customization, automation rules, and revaluation engine are second to none. It's a standout, professional, and institution-grade accounting platform. What's more, the Entendre team possesses deep domain expertise, and their hands-on approach has sometimes seen them taking charge of my reconciliations and book closings, ensuring everything's spot-on."
- Alex, Co-founder of Hedgey Finance.
Conclusion
Hedgey Finance's transformative journey from manual transaction review to sophisticated automation is a testament to Entendre's prowess. If you're in the search for a seamless, accurate, and AI-driven accounting solution, especially in the domain of Web3, look no further than Entendre.
