Pushing the Boundaries of Finance: How Pushkin Industries Revolutionized Their Accounting with FinOptimal

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In the fast-paced world of digital media, Pushkin Industries stands out as a beacon of innovation. Founded by journalists Malcolm Gladwell and Jacob Weisberg, Pushkin has quickly become a powerhouse in the podcasting industry, producing chart-topping shows that blend storytelling with intellectual discourse.

But behind the scenes of these captivating audio experiences lies another story of innovation—one that takes place in spreadsheets and financial reports. Enter Christina Sullivan, CFO at Pushkin, who discovered a game-changing solution in FinOptimal.

The Quest for Financial Clarity

Christina's journey with FinOptimal began with a peer's enthusiastic recommendation—a rarity in the often-staid world of finance. "Their focus on 'making QuickBooks 1,000x more capable than it is otherwise' spoke to me as the leader of a tiny finance org," Christina recalls. The promise of having the entire general ledger in a Google Sheet, accessible at a moment's notice, was too enticing to ignore.

Automation and Real-Time Insights

FinOptimal's impact on Pushkin's financial operations has been transformative. Christina highlights two key benefits:

1. Workflow Automation: Nearly every financial process has been streamlined, reducing manual effort and increasing efficiency.
2. Real-Time Reporting: The ability to see and report on financial data instantly has revolutionized decision-making at Pushkin.

"This is absolutely game-changing for me in the kind of insights I can generate, the size of the team I need, and the type of work I am doing," Christina explains. In an era of economic uncertainty, this efficiency has allowed Pushkin to keep finance costs low while managing increasingly complex operations.

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Budgeting and Forecasting: A New Era

When asked about the most impactful process improvement, Christina doesn't hesitate. "The first one that comes to mind is ongoing budgeting & forecasting," she says. With FinOptimal's solution, Pushkin now has a continuously updated P&L forecast, allowing for agile financial planning and reporting.

This improvement extends to Pushkin's core business of podcast production. "We are a production company, so we set production budgets that we need to track against (roughly ~20 open at a time)," Christina notes. "These were a nightmare to keep updated, and now with the Wrangler tool, the actuals are updated every day for real-time use by the showrunners who are making decisions that impact spend."

Beyond the Numbers: Automated Journal Entries

FinOptimal's impact goes beyond reporting. The platform has automated the capture and booking of previously manual journal entries. This includes Pushkin's complex revenue streams (six streams with multiple channels each), royalty calculations (over 80 different streams with varying terms), prepaids, and accrued expenses.

Christina particularly appreciates FinOptimal's responsiveness to client needs. "They built a custom payroll tool for us that went on to inspire their Payroller product," she shares. "Their teams hear what we need and use that to innovate their products, so it's a really effective feedback loop."

The Bottom Line

For Pushkin Industries, FinOptimal has been more than just an accounting solution—it's been a catalyst for growth and efficiency. By automating complex processes and providing real-time financial insights, FinOptimal has allowed Pushkin to focus on what they do best: creating compelling content that captivates audiences worldwide.

As the podcasting industry continues to evolve, Pushkin stands ready to adapt, with a financial foundation as innovative as its content. Thanks to FinOptimal, Christina Sullivan and her team can navigate the complex world of media finance with confidence, proving that even in the creative industries, numbers can tell a fascinating story.

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More about Pushkin

Pushkin is a heavy hitter in the podcast world. They're the brains behind chart-toppers like "Revisionist History," where Gladwell reexamines overlooked events from the past, and "Against the Rules" with Michael Lewis, which tackles fairness in modern society. Their show "Broken Record" brings listeners into intimate conversations with music legends, while "A Slight Change of Plans" snagged the prestigious iHeartRadio Podcast of the Year award. Beyond podcasts, Pushkin has also made waves in the audiobook space, producing spoken-word versions of bestsellers like Gladwell's "Talking to Strangers."

Here's my personal favorite podcast episode that Pushkin produced via the Broken Record Podcast:

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