Rain is a self-described, scrappy software company based in Springville, Utah. The company offers a cloud-based, all-in-one point-of-sale and website system with integrated inventory that is Mac OS and Windows compatible. Their software includes point-of-sale (POS), website, rentals, service/repairs, class management, and more in one system. The software is designed for small-to-medium-sized specialty retailers (e.g., music stores, scuba retailers, furniture stores, ski and snowboard shops).
Rain had built an excellent product and had consistent growing recurring revenue with what they believed were good underlying economics. However, the data supporting their belief wasn’t easily accessible, and they needed a partner to help define and build the systems and procedures that would provide the reliable information they required. Rain’s leadership team sought to bring on a valuable strategic partner that would fit their culture.
Rain selected Amplēo and one of their CFOs to quarterback the finance and accounting team and processes. Amplēo began with an assessment of the team and found that their practices were leading to less than reliable information. The Rain finance team and Amplēo worked together to improve procedures that led to consistent, reliable, and timely financial reporting. Amplēo also led the implementation of a data analytics tool that provided the company with industry-standard software metrics to measure their business.
Once the time was right in Rain’s growth cycle, Amplēo assisted with the hiring and selection of a full-time senior finance professional. Despite hiring their own replacement, Amplēo remains an advisor to the CEO and is regularly involved in other strategic and operating discussions.
Rain continues its steady and healthy growth, and has turned the corner into profitability. Entity value has increased significantly and the company is humbly and quietly taking the SMB retail POS world by (rain)storm.
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