Oleksandr Solovei

What do you rely on when it’s time to make a financial decision?
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For the accountant, it’s tax regulations. For the workshop manager — technical cards, the production schedule, the manufacturing plan. But what about you, the owner? An Excel file with no update date? A message from a supplier in your messenger? A negative bank balance?

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In manufacturing, money moves daily: prepayments to suppliers, employee advances, countless small expenses, payments to contractors, raw material purchases, rent, loans… And without a system, all of this turns into financial chaos.

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Let’s break down the key financial problems manufacturing companies face — and show how Finmap helps bring order to the numbers, reduce chaos, and make confident decisions.

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How to Bring Manufacturing Finances Into a Single System

In manufacturing, financial data accumulates across dozens of sources: bank accounts, CRMs with orders, Excel sheets with production line plans, inventory management, accounting. Often this is topped off by the personal cards of owners or managers.

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As a result, the picture is fragmented: to understand the real state of affairs, you have to manually reconcile inventory balances, supplier orders, client payments, and production costs.

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Why this is risky for the business:

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1. Loss of control over working capital — at any moment, you may discover that there's less money in the account than expected.
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2. Risk of cash gaps — raw material purchases and overhead costs are paid before payments from clients come in.
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3. Cost calculation errors — due to incomplete data, it's hard to assess the real profitability of orders or production lines.
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4. Financial chaos between departments — procurement, sales, and production all keep separate records, so the owner sees no single source of financial truth.
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5. Lost time for the owner — instead of growing the business, you’re stuck reconciling spreadsheets and checking balances manually.

All Accounts Under Control — From Bank to Warehouse

The first step toward financial transparency is consolidating all company accounts into a single system. In Finmap, you can add:

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1. ‍Bank accounts, sole proprietorships, cash registers, and cards — and see their balances in real time. Use integrations with banks and payment systems to automate data collection, and import statements to streamline work with banks that don’t integrate.
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2. Petty cash and advance payments — to account for money temporarily held by employees. Add subordinates to the system and set flexible access rights to understand how each department or workshop is handling funds.
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3. Virtual warehouse account — which shows the value of goods or raw materials on hand in monetary terms. Track the movement of goods by value and deduct the cost of materials that were actually consumed.

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Thanks to this, you immediately see how much money is available right now, where it’s stored, and how much is “frozen” in inventory. Balances update automatically and regularly, and you can reconcile all figures in seconds — from any device, anywhere in the world.

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Connect Systems That Influence Your Money — and Gain Full Transparency

To get a complete financial picture, it’s not enough to just see account balances — you also need to understand what financial processes are happening across the business. In Finmap, this can be done through the open API.

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You can connect the following to Finmap:

• ‍CRM system — so deals automatically sync with your financial records.
• ‍Inventory management system — to track purchases, raw material write-offs, and see their impact on cash flow.
• ‍Accounting, document management, or other services — if you need visibility into additional business processes.

You can set up the integration yourself or use Finmap’s in-house integration specialist, who will adapt the system to your business structure.

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As a result, you get a unified system that brings together everything that affects your finances: sales, expenses, warehouse balances, settlements. At the center — Finmap, as the single source of financial truth.

Control Over Settlements With Clients and Suppliers

In manufacturing, money rarely moves in sync. You've already paid for raw materials, logistics, salaries — and the client will pay in 15–30 days, or even later. All of this creates cash gaps: money seems to be in circulation, but your accounts are empty.

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At the same time, managing settlements is difficult. Some clients delay payment, others ask for deferments. Suppliers demand prepayment and enforce strict deadlines.

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Without systematic tracking, it's easy to miss a debt, confuse payment dates, or lose credibility with partners. ‍

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Here’s what that leads to:

• You don’t know who owes you and how much — instead of a clear debtor list, you search through messages or spreadsheets.
• You might miss a payment deadline and lose a supplier — because obligations fall out of sight without a unified payment calendar.
• Contractors call before you remember the invoice — damaging your reputation and complicating future cooperation.
• You can’t see when to expect incoming payments or how to plan outgoing ones — it’s all based on guesswork instead of numbers.
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To avoid falling into the trap of cash gaps and losing control over settlements, you should focus on three essential steps. Here’s what to implement — and how it’s done in Finmap:

Why Should You Calculate DSO?

DSO answers a simple but critical question: How many days after a sale do you actually receive the money in your account?

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The higher your DSO, the greater the pressure on liquidity and working capital.

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According to Kaplan Group research:

42% of companies have a DSO over 46 days — and among large manufacturing firms, that number is as high as 70%.

When this indicator stretches out, it's not just “paper debt” — it’s real money you can’t use for buying raw materials, paying salaries, or growing the business.

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DSO benchmarks for different types of production:

If you control your DSO — you control your liquidity. If not — you’re operating in debt, even if you show a profit on paper.

What Actually Drives Profit in Manufacturing

In manufacturing companies, it’s often difficult to determine which specific products, orders, or business lines are truly profitable.

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The reason — lack of detailed tracking by financial responsibility centers or projects.

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Frequently, both direct and indirect costs (purchases, wages, logistics, rent) are accumulated in a general production account without being allocated to specific product types or customer orders.

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As a result:‍

• Loss-making products are “hidden” among profitable ones, distorting the financial picture.
• Budget is spent on unprofitable areas that don’t generate margin.
• Management decisions are made based on intuition, not analytics.

This is a systemic issue that erodes profitability — even when the company is growing in production or sales volume.

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According to McKinsey:‍

About 40% of executives reduce their product portfolios to lower complexity and increase overall profitability.

Such decisions cannot be made based on gut feeling — they require solid data.

How Finmap Helps Organize Effective Project-Based Management

That’s exactly what the Projects report in Finmap provides. You see each direction — along with its components (subprojects) — as a separate financial unit: income, expenses, cost of goods sold, operating profit, and profitability.

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A “project” doesn’t have to be just a business line. In your company, it could be:

• ‍A specific type of product — for example, production of kitchen furniture, children’s beds, or metal structures.
• ‍A batch for a specific client — a custom order with its own budget, timeline, and expenses.
• ‍Pilot production of a new product — to assess the economic feasibility of scaling it into mass production.
• ‍A contract or tender — such as supplying products to a government buyer.
• ‍Outsourced production — when your company manufactures goods for other brands.
• ‍A specific workshop or production line — to evaluate the efficiency of different departments.
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The importance of project-based management isn’t just a theory. Research from ScienceDirect confirms how unevenly different products contribute to a company’s profitability:

On average, only about 20% of a manufacturing company’s products generate more than 150% of its total profit. This means the remaining 80% either barely break even — or are actually loss-making.

Can you confidently name which of your products generate the most profit?

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Financially strong manufacturing isn’t about total revenue — it’s about analytics that clarify what should be scaled and what should be cut.

From Chaos in Excel to Structured Management: The Case of Practik

PRACTIK is a Ukrainian producer of innovative food for dogs and cats, positioning its product as a complete meal — not just pet feed. To ensure high-quality standards, the company built two factories from scratch in Ukraine — allowing full control over every stage of production.

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The company manufactures products in two main directions: food for cats and food for dogs. Each direction has its own product lines, which are constantly updated and improved.

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Before implementing Finmap, the company tried to manage its finances in Excel. But as the business grew and revenue sources multiplied, the spreadsheets could no longer keep up — automation became impossible, and gaining a full financial picture was out of reach.

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However, it wasn’t just about automation. The company had deeper reasons to move toward systematic financial management:

• ‍Cash flow couldn’t be tracked manually — income from different directions merged into a single flow without breakdowns.
• ‍No centralized analytics for decision-making — expenses weren’t recorded in one system.
• ‍Uncertainty about balances and investment funds — forecasting available resources was difficult.
• ‍Multiple business lines, but no unified system — real estate rental, investments, and B2C sales all needed a single financial interface.
• ‍Need for delegation — finances were handled solely by a co-owner, which limited growth

Once the company decided to implement structured financial management, they turned to Finmap’s financial manager. He helped build the right structure and configure key processes — tailored to the specific needs of their business.

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Control and financial management were then delegated to an internal specialist, Natalia, who is now responsible for the company’s finances and shares her experience working with Finmap:

Once we started seeing all income and expenses in one place, it became much easier to make decisions. Now we understand how much money is available, where overspending occurs, and how prices change month to month.

What Changed After Switching to Finmap

After switching to Finmap, the company gained not just a convenient tool — but a complete financial management system. ‍

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Here’s what changed in practice:

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1. Practik gained full control over its finances. All income and expenses are now in one system, with transparent analytics and clear balances.
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2. Management can now see how much money is available for investment, where overspending happens, and how purchase prices are changing — enabling decisions based on numbers, not guesses.
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3. Financial processes became structured: the team reviews reports monthly, analyzes expenses, and plans the budget based on real-time trends.
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4. Cash gaps are no longer a surprise — only expected and prepared for. Delegating financial management allowed the owners to focus on scaling the business.

With Finmap, we’re putting order not only into our numbers, but into the entire business. It gives us confidence, stability, and the ability to move forward. —  the Practik team summarizes

Finmap — A Tool for Control, Confidence, and Growth

Financial management is the answer to daily questions: Can we make this purchase today? Will we have enough cash for payroll? Which product line should we scale, and which one should we shut down?

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In manufacturing, these decisions are costly. And mistakes don’t happen due to lack of experience — but due to lack of data.

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Finmap helps consolidate all your financial information into one system, see the real-time picture, build forecasts, and avoid critical errors. That’s why it’s chosen by manufacturers who want to grow — not blindly, but systematically.

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Book a free consultation with a Finmap expert — and see how it works for your business.

Frequently Asked Questions

1. Why switch from Excel if it works?
Excel doesn’t provide a current picture — data gets outdated quickly, it’s hard to consolidate reports from different sources, and there’s no automation. It works up to a certain scale, but then starts slowing growth.
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2. How do I know how much money can be invested vs. kept for operational costs?
You need a system that shows available balances and upcoming obligations. This allows you to make informed investment decisions without risking missed payments.
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3. Our raw material prices are constantly changing. How can we track when and why costs are rising?
Regularly recording expenses in a structured format lets you see purchasing trends and respond to changes in time.
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4. How do I identify where money is being lost if sales are stable but profit isn’t growing?
You need records that show expenses by category and business line. This will help identify overspending, hidden costs, or inefficient processes.
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5. Can financial management be delegated if we don’t have a CFO?
Yes — the key is setting up a proper accounting structure. From there, it can be managed by a responsible person: an accountant, office manager, or administrator. The business owner will receive reports in a clear and convenient format.

When your business operates in three countries, completes 1,500 shipments every month, has a team of 70 people, and simultaneously launches an AI-powered EdTech product — it seems like success and everything under control. Until suddenly, the account balance hits zero, there's a cash gap in the company, and you have no idea where the money went.

We had turnover, active sales, new contracts. But one day I opened the account and saw: there was no money. And this while the business was running at full capacity. — Oleksandr Stupakivskyi, entrepreneur, guest on the podcast ‘Wish I’d Known This Earlier’

Oleksandr is the co-founder of a logistics company operating in the markets of Ukraine, the USA, and Europe. His business was growing dynamically: thousands of shipments every month, team expansion, entry into new markets.

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But alongside the growth came a cash gap, $175,000 lost due to an unsuccessful partnership, and constant stress from not understanding the business's finances.

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In this article, Oleksandr shares insights and lessons he learned firsthand:

• how a single cash gap can put a large-scale business on pause,
• why the feeling of “we're doing fine” doesn't work without numbers,
• how financial management with Finmap helped systematize operations and reveal the actual situation,
• and why partnerships are a zone of increased financial turbulence.

This isn't a finance textbook. It's an honest story with mistakes, failures, and real tools that help you avoid losing control of your business when everything seems fine.

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Read on if you're also ready to look at your business without illusions.

Insight 1. Even a Large-Scale Business Can Operate in the Red

Growing revenue ≠ more profit. This realization comes painfully. It was exactly this insight that led Oleksandr to face a cash gap during a period of active growth.

We were growing very fast. But because of that, we started to sink. We simply didn’t have time to understand what was really happening with the money. — Oleksandr Stupakivskyi, entrepreneur

What happened:
More shipments meant more expenses for prepayments, fuel, salaries, and administrative costs. Meanwhile, client payments often came with delays. This created a financial chasm.

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A cash gap is the most dangerous financial trap for small and medium-sized businesses. It means that your current expenses aren’t covered by incoming payments. And if you don’t control this process, you risk going into debt, losing partners, or even shutting down the business.

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Why is it important to track potential cash gaps daily?

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Many entrepreneurs manage finances “after the fact” — looking at reports, balances, and profits at the end of the month or quarter. But financial control must be preventive, not reactive.

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1. Real-time financial management helps predict when the money will run out and make urgent decisions.
2. Cash flow forecasting allows you to prepare for seasonal fluctuations or payment delays.
3. Financial reserves are your safety net against cash gaps and unforeseen expenses.

When we first encountered a cash gap, it was a shock. We couldn’t understand how, with such sales volumes, there was no money. Now we know — without systematic financial management, a business is doomed to chaos. — Oleksandr Stupakivskyi, entrepreneur

How to Prevent a Cash Gap — Key Actions

Read more on how to avoid cash gaps and prevent bankruptcy.

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Before using Finmap, Oleksandr’s company:

• had no clear understanding of the balance between income and expenses,
• didn’t track accounts receivable,
• didn’t build a cash flow forecast.

After implementing financial management:

• there was a clear picture of expenses and profits for each business direction,
• it became obvious which projects were draining money and which were generating it,
• the financial plan made it possible to anticipate a cash gap and prepare a cushion.

Remember: a cash gap is not just a temporary problem but a signal to change your business’s financial strategy. If you ignore it, you risk losing everything you’ve built.

Insight 2. A Partnership Without a Contract — A Costly Mistake

A successful business in one country often creates the illusion that everything will follow the same scenario in another. But when it comes to partnerships, intuition is a poor advisor if it’s not backed by clear agreements on paper.

I had a positive experience with a partner in Ukraine and thought it would be the same in the US. But it cost me $175,000 and a year of lost time. — Oleksandr Stupakivskyi, entrepreneur.

When launching a business in the US, Oleksandr chose a partnership model without a clear contract, defined roles, or financial guarantees. The result — mismatched expectations, damaged relationships, lost time, reputational risks, and major financial losses.

Why is a partnership without a contract risky?

Many entrepreneurs neglect legal formalization at the start: saying things like “we’re friends,” “we’ll figure it out as we go,” or “we don’t want legal hassle.”

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But business without a clear contract leads to:

• No clarity on who is responsible for key areas (finance, team, marketing).
• No conflict resolution mechanism.
• No record of investment contributions or ownership shares.
• No understanding of what happens if one partner exits.

All of this lays the groundwork for financial losses, legal disputes, and toxic relationships.

What should be documented in a partnership agreement?

How to Protect Yourself and Your Business in a Partnership

1. Document everything from the start. Don’t avoid difficult conversations. An agreement without written confirmation is just an illusion.
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2. Involve lawyers. Even if it’s a shoestring startup — a written contract = peace of mind.
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3. Agree on exit mechanisms. Because every partnership either works or ends.
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4. Maintain separate financial management for each partnership-based business. So you can see the real numbers and react in time.

After that failed experience, I never take a single step without a clear contract. Even if everything starts with a handshake — it ends on paper. — Oleksandr Stupakivskyi, entrepreneur

Partnership is not just a shared dream. It’s legal, financial, and reputational responsibility. And if you don’t agree on terms upfront, you risk losing much more than money.

Insight 3. Money in the Account ≠ Profit

Many entrepreneurs fall into the trap: they see money in the account and think the company is profitable. But having funds doesn’t mean it’s your income. Often, it’s someone else’s money, reserves for obligations, or simply an illusion of financial stability.

‍I thought we were in the black because there was something in the account. But in reality, half of that money wasn’t ours. — Oleksandr Stupakivskyi, entrepreneur

Even an experienced entrepreneur can end up in a situation where the money in the account isn’t enough to cover taxes or pay salaries. You need to clearly plan what each amount is for — so you don’t discover that the same funds are expected to cover different needs.

Why the account balance is not an indicator of financial health

Oleksandr went through this firsthand. Only after implementing Finmap did he see the full picture: actual balances, upcoming expenses, who was delaying payments, and — most importantly — how much of the money in the account actually belonged to the business.

Here’s what you DON’T see without financial management:‍

1. The total accounts receivable — who owes you and how much.
2. Future mandatory expenses — taxes, rent, salaries.
3. Reserved payouts — amounts already promised but not yet debited.
4. Real cash flow — how much money is actually free to use right now.

How to Tell the Difference Between an Account "Plus" and Real Profit

What Oleksandr Did — and What You Can Do Too:

1. Moved from “gut feeling” to numbers — implemented daily monitoring of actual and planned balances.
2. Tracks overdue payments — so accounts receivable don’t pile up.
3. Started setting aside reserves for taxes and mandatory expenses as soon as money comes in.
4. Analyzes cash flow and project profitability weekly — instead of just looking at the bank account.

‍Financial management finally helped me see how much of ‘my’ money is actually mine. And that transparency changed not just the numbers, but also the way I manage the company. — Oleksandr Stupakivskyi, entrepreneur

Having money is no guarantee of profitability. Profit is what remains after all obligations are covered. And if you’re still making financial decisions based on “gut feeling” — it’s time to switch to numbers.

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Insight 4. If You Don’t See the P&L — You’re Not Running the Business

Many entrepreneurs rely only on the account balance at the end of the month or the number of sales. But that doesn’t show business profitability at all. Without a clear understanding of what generates profit and what “eats up” resources, you can’t make effective management decisions.

We used to look only at the result — what was left in the account. Now we see what we actually earned and what we spent. — Oleksandr Stupakivskyi, entrepreneur

The key report that gives you this picture is the P&L (Profit and Loss), or income statement. It’s not a formality — it’s your main navigator in financial management.

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Before implementing financial management in Oleksandr’s company:

• There was no separation of expenses by direction and project.
• EdTech, logistics, and trading expenses were all counted together.
• No one knew which area was dragging the business down and which one was profitable.
• Decisions were made based on intuition, not data.

After implementing Finmap:

• A clear P&L report for each business line appeared.
• It became clear that trading was profitable, while EdTech was still only generating expenses.
• The team was able to reallocate resources, optimize spending and marketing.
• There was now an opportunity to scale what’s effective — instead of sustaining what’s unprofitable.

What a P&L Report Gives Your Business — In Simple Terms

The P&L showed me something I hadn’t seen before: we were spending resources on a direction that wasn’t generating income. And once that became obvious — the dilemma of where to go next disappeared. — Oleksandr Stupakivskyi, entrepreneur

How to Implement P&L in Your Business:

1. Create a financial system — separate income and expenses by direction.
2. Define key expense categories and break them down into subcategories.
3. Choose a convenient tool (Finmap, Google Sheets, ERP).
4. Analyze your P&L monthly — it’s your main tool as a business leader.

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As long as you don’t see the P&L, you’re not managing — you’re guessing. Once the numbers are clear, clarity, logic, and calm emerge in your financial decisions.

Insight 5. Finance Is Not About Reports. It’s About Strategy

Most entrepreneurs start with passion, a product, and the desire to change the world. Then — they hire people, invest in marketing, launch new directions without a clear answer to the question, “can we afford this?”

Before, we were just working. Now — we’re managing. Finance has become our coordinate system. — Oleksandr Stupakivskyi, entrepreneur

Finance isn’t about bookkeeping and end-of-month calculations. It’s about making management decisions that affect your business’s growth, profitability, and resilience.

What Strategic Questions Does Financial Management Help Answer

What Changed in Oleksandr’s Company After Implementing Systematic Financial Management:

• Weekly financial meetings were introduced — the whole team sees real numbers and takes part in decision-making.
• Development scenarios are created: realistic, optimistic, and pessimistic.
• It's now clear where spending doesn’t bring results — in marketing, EdTech, and certain projects.
• The company stays ahead of crises instead of reacting to them after the fact.

‍Before, decisions were made based on gut feeling — now, based on models. This saves not only money, but nerves as well. — Oleksandr Stupakivskyi, entrepreneur

Financial management isn’t just files for the accountant. It’s your strategic weapon that:

• unlocks new opportunities for scaling,
• reveals weak spots in the business model,
• allows you to build anti-crisis scenarios before something goes wrong.

If you want to grow — first understand where you stand. And that’s only possible through finance.

Insight 6. Don’t Ignore Financial Signals

I saw something wasn’t right. But I didn’t want to dive into the numbers. Now I regret it. — Oleksandr Stupakivskyi, entrepreneur

Every business goes through tough times. But financial problems don’t come out of nowhere. They build up gradually — and always give signals. Most entrepreneurs just ignore them.

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An entrepreneur keeps working at full speed, ignoring the first cracks — until it all collapses. And it’s financial management that allows you to spot the warning signs before it’s too late.

Typical Signals That a Business Is Losing Financial Stability

Finmap became an early warning system for Oleksandr’s team. Instead of gut feeling — daily analytics. Instead of hope — concrete numbers.

What changed after launching financial control:

• Gained understanding of actual cash flow — when the dips and peaks will occur.
• Became clear which clients were causing cash gaps.
• Alerts and reports were implemented: weekly analysis of receivables, expenses, and financial results.
• The team started responding to problems before they became critical.

The numbers started working for us. Now we’re not putting out fires — we’re managing the situation in advance. — Oleksandr Stupakivskyi, entrepreneur

Ignoring financial signals is like ignoring pain in the body. It doesn’t go away — it turns into a crisis.

Insight 7. A Financial Expert Is Not a “Luxury,” but a Strategic Asset That Saves Thousands

Many entrepreneurs postpone hiring a financial expert, thinking: “I’ll figure it out myself” or “It’s too expensive.” But in reality — delay costs much more. It’s the financial expert who helps uncover where the business is losing money every single day.

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After working with a financial expert from Finmap, Oleksandr doesn’t just keep records — he manages the business.

What a Financial Expert Does in a Modern Business — Not Excel, but Strategy

Outsourced CFO + Finmap = the ideal formula for effective financial management

How Oleksandr’s Work Changed After Bringing in a Financial Expert:

• A clear financial model was built for all business areas.
• Regular reports became available to both the owner and the team.
• Every decision is now based on numbers, not intuition.
• The business strategy is no longer chaos — it’s a calculated plan.

The financial expert gave me peace of mind. Now I know what’s happening with the money — and what to do next. — Oleksandr Stupakivskyi, entrepreneur

A financial expert isn’t just “about numbers.” It’s about control, clarity, and profitability. If you want to scale, optimize expenses, or enter a new market — having a financial expert on your team will shorten the path by months and save tens of thousands.

Book a free consultation!

An outsourced CFO will help you set up effective financial management and make informed business decisions

Finance Isn’t Scary. What’s Scary Is Not Understanding It

Oleksandr went through a cash gap, lost $175,000, experienced financial chaos — and came out stronger.

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Now, finance is his main management tool — not a terrifying unknown.

Bonus: Checklist “Where to Start with Financial Management”

1. Count all expenses and income for at least the past 3 months.
2. Look at balances with planned expenses in mind.
3. Create a P&L — Profit and Loss report.
4. Identify the least profitable direction.
5. Start financial management in Finmap.
6. If you don’t have time to do it yourself — bring in a financial expert.

Don’t wait for a cash gap to start managing your finances

Try Finmap for your business — and take control of your money today.

Frequently Asked Questions

1. What is a cash gap and why is it dangerous for business?
A cash gap is a situation where current business expenses exceed incoming cash flow. This results in not having enough money to cover salaries, payments to suppliers, and other operating costs. If not controlled, the business risks accumulating debt, losing partners, or even shutting down.

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2. Why shouldn’t you rely only on the bank account balance?
Money in the account isn’t always the company’s actual profit. Some of the funds may be reserved for taxes, salaries, or debts. That’s why it’s important to maintain financial management and regularly analyze financial reports.

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3. How can a partnership without a written agreement affect the business?
Lack of a clear contract leads to misunderstanding of roles, financial responsibilities, and conflict resolution mechanisms. This can result in financial losses, damaged relationships, and even legal disputes. A written agreement protects the business and helps avoid misunderstandings.

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4. Why is it important to maintain financial management and have a P&L report?
The Profit and Loss (P&L) report gives a clear picture of which areas of the business generate profit and which generate losses. It enables informed decisions about investments, cost optimization, and scaling — rather than relying solely on intuition or the bank balance.

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5. When should you bring a financial expert onto your team?
You should bring in a financial expert at the scaling stage or when launching new products. They help build a transparent financial model, forecast cash flow, control expenses, and improve business efficiency. Timely involvement of a financial expert helps avoid financial losses and chaos.

When your account balance is zero, your pocket holds $2, and you're staring down $120,000 in debt. All while your business still has sales, a team, and clients.

I was standing in the kitchen with $2 in my pocket, thinking: that’s it, there’s no way out. Three years later — I paid back every cent of my debt. If I had tracked the numbers earlier, none of this would’ve happened. — Ekaterina Vyshnevetska, entrepreneur, guest on the podcast “Wish I’d Known This Earlier”

Ekaterina Vyshnevetska — partner at Genius Space Teleport, co-owner of the international educational project Proryv, and an entrepreneur who missed the signs of a cash flow gap.

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The result: minus $120 000, creditors, panic, and a complete business reboot. She rebuilt everything from scratch — slowly and painfully.

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Today, Ekaterina shares the lessons that apply not just to project-based businesses, but to any entrepreneur who wants to avoid losing everything.

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This isn't a finance lecture. It's real stories, real mistakes, real numbers — and the exact steps that helped her:

• stay out of the debt trap,
• keep money under control, even without a financial background,
• organize the budget without messy Excel sheets,
• and finally stop living from one launch to the next.

Keep reading — it's honest, sometimes painful, but incredibly useful.

Lesson 1. You’re Not an ATM for Your Business — and Your Business Isn’t Your Wallet

The Problem: Mixing Personal and Business Finances = a Ticking Time Bomb

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You estimate profits “by feel” and celebrate every incoming payment — only to spend that money on personal expenses the next day. A month later, your accountant shows that you’re short $5 000 for salaries and ads — and you have no idea how that happened.

We were using this month’s revenue to pay off invoices from three months ago — because we kept everything in one pot: personal and business. It was a ticking time bomb. — Ekaterina Vyshnevetska, entrepreneur

Why It’s Dangerous for Your Business

• Distorted picture. You see $7 000 in the account and think it’s profit — but $6 000 is actually client prepayments that still need to be fulfilled.
• Working capital disappears. When you pull out money for personal use, your business is left without cash for inventory, services, or marketing.
• One delay = cash flow gap. Two late payments — and suddenly you can’t pay last month’s bills, because you didn’t have a reserve.

The solution: create a clear financial boundary between you and your business.

Results in just one month:

• A clear view of your company’s actual profit.
• Confident expense and investment planning — without the fear of “will we have enough for payroll?”
• Your personal finances no longer depend on how many clients paid today.
• Transparent financial reports — so investors and partners trust the numbers, not just your words.

Most importantly: if you mix personal and business money, a cash flow gap is only a matter of time.

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Set up a border now, and your business will breathe freely, and you will be free from panic.

Lesson 2. How You Lose 30% of Your Money Every Day Without Noticing

The Problem: Thousands of Small Transactions Quietly Draining Your Cash.

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You focus on big bills — rent, inventory, salaries — while minor expenses of $2 – $4 silently eat away your profits. Coffee, taxis, subscriptions, office supplies — all those “little things” add up to a big loss. By the end of the month, you’re looking at the numbers and wondering:

A thousand small transactions, each for $2 – $4, and suddenly there’s a 30% hole labeled ‘miscellaneous.’ That’s how money disappears — without a trace. — Ekaterina Vyshnevetska, entrepreneur

Why It’s Dangerous for Your Business

• Small expenses drain your focus and your budget. They seem harmless, but they quietly shrink your margin and make your business less profitable.
• Lack of clear control. Without weekly tracking, even tiny subscriptions or impulse buys accumulate — becoming a black hole in your budget.
• Worsened financial planning. When the “miscellaneous” category keeps growing, it’s nearly impossible to forecast expenses or profits.

The solution: a weekly 10-minute check-in to review and control small expenses.

Results in just one month:

• A real understanding of where your money is going — and where you can cut back.
• Higher profits, because you’re no longer losing money to invisible cash leaks.
• More accurate and predictable budgeting.
• Peace of mind for you as the owner — because everything is under control.

Remember: big money is made up of small money. If you don’t control the little things, they’ll become your biggest financial enemy.

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Lesson 3. A +20% Buffer: Your Financial Safety Net That Can Save Your Business

Why Adding 20% Isn’t a Luxury — It’s Real Insurance for Your Business

I multiply any expense by 1.2. If there’s anything left — it goes into the reserve. If not — I was ready for it. — Ekaterina Vyshnevetska, entrepreneur

No one asks your permission when exchange rates spike or inflation surges. A marketing campaign might suddenly need more funding to actually perform. A client might request a refund even after payment — and you need to plan for that in advance.Without a buffer, even small surprises can turn into a cash flow crisis that hits your business hard.

How to Create a +20% Buffer Budget in 4 Simple Steps

Results in just one month:

• You’ll stop fearing unexpected costs — and start handling surprises calmly.
• You’ll build a real financial cushion — without stress or panic.
• Your business becomes more stable, and you become more confident in the future.

Even if you don’t spend the reserve — it gives you peace of mind.

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Think of it like life insurance — for your money. Don’t wait for a crisis to catch you off guard. Learn to plan with a buffer — and your business won’t collapse at the first unexpected hit.

Lesson 4. A Financial Cushion Is Your Bulletproof Vest in an Unstable World

Why a Financial Cushion Isn’t Just About Money — It’s About Business Survival

Our courses launch every three months. If one launch fails — without a cushion, the company won’t survive until the next one. — Ekaterina Vyshnevetska, entrepreneur

In project-based businesses, income is inconsistent: one month there’s a launch, the next — silence.

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Without savings, even a small delay or failed campaign can sink the company.

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No financial cushion means you’re forced to cover operating expenses with loans or debt — and that’s a fast track to collapse.

There’s a Simple Formula for Building Your Financial Cushion

The Result:

• You get a bulletproof vest that absorbs unexpected shocks and gives you time to recover.
• You gain confidence knowing that even if something goes wrong, your business won’t go under.
• This cushion is your life raft — it helps you stay afloat until the next successful launch.

This pillow is like a lifeline that helps you survive until the next successful launch. — Ekaterina Vyshnevetska, entrepreneur

Lesson 5. A Cash Flow Gap Is Your Most Painful — but Most Valuable — Teacher

$120,000 in debt and zero in the account. It hurt — but that’s when I learned to truly respect the numbers. — Ekaterina Vyshnevetska, entrepreneur

Three Signs a Crisis Is Already at Your Door:

• You’re paying off old bills with new sales — like using a credit card to cover other debts.
• Client prepayments are spent on current expenses instead of business growth.
• Payroll dates keep getting pushed, and accounts receivable keep growing.

If any of this sounds familiar — it’s time to act.

The “Stop-Debt” Algorithm: How to Keep Your Business Alive in a Crisis

The Result: The crisis becomes a lesson — not the end of your business.

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A clear action plan gives you strength and motivation to move forward while keeping your team and reputation intact.

Debt isn’t a death sentence — if you stop in time and take control of the situation. — Ekaterina Vyshnevetska, entrepreneur

Lesson 6. Future Costs — Not Past Prices — Ignoring This Difference Pulls Your Business into the Red

A product I bought for $1,000 two months ago now costs $1,100.If I leave the old price in the budget — I’m guaranteed to lose money. — Ekaterina Vyshnevetska, entrepreneur

Why You Need to Think in Future Prices, Not Past Ones

Prices are constantly rising — due to inflation, logistics, or raw material costs.

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If you don’t update your cost estimates in your financial models, your budget becomes inaccurate and unprofitable. It’s like driving a car with a fuel gauge that shows yesterday’s fuel level.

How to Avoid This Trap

The Result: You stop losing money due to outdated numbers. Your business stays aligned with the market and remains financially stable.

A financial model is a living document — you need to keep it in shape. — Ekaterina Vyshnevetska, entrepreneur

Lesson 7. A Balance Sheet Isn’t Just About Expenses — It’s a Strategic Transformation of Your Money

Why Understanding Balance Matters

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Buying equipment isn’t just spending — it’s investing in an asset.
An asset can be sold, rented out, or used to scale the business.

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Without understanding your balance sheet, you can’t make smart decisions — whether it’s better to buy or rent, spend or invest.

How to See Your Balance Sheet in a New Light

The result: You turn your budget from a list of expenses into a growth tool.

Lesson 8. Visualization and Delegation — Financial Control at a Single Click

I get lost in spreadsheets. In Finmap, I opened the dashboard — found the error in five minutes and fixed it. — Ekaterina Vyshnevetska, entrepreneur

Why Founders Need Instant Financial Visibility

Even if you have a CFO, you must be able to see the real picture at any time. Without that, you risk staying in the dark and missing critical issues.

How to Combine Delegation with Control

The result: You control your finances without Excel or complicated reports.

Visualization is financial radar — it keeps you one step ahead. — Ekaterina Vyshnevetska, entrepreneur

Instead of a Conclusion: Take the First Step Today

1. Open a separate bank account for your business.
2. Set up bank sync in Finmap — it takes 3 minutes.
3. Set aside the first 3% of your profit into a financial cushion.
4. Review the budget for your next project and add a 20% buffer.
5. Check your minor expenses and reduce the “miscellaneous” category to 5% or less.

Controlling the numbers is an investment in my peace and freedom. $25 a month vs. $250,000 in potential losses — the choice is obvious. — Ekaterina Vyshnevetska, entrepreneur

Ready to turn your business from chaos to control?‍

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Leave a request — our experts will show you exactly what’s happening with your money, for free.

Frequently Asked Questions

1. How do I separate personal and business finances if I’m just starting out?
Start by opening a separate business bank account and setting a fixed “owner’s salary.” This helps prevent mixing personal and business funds from day one.

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2. Why is it so important to track even small expenses?
Seemingly insignificant payments — coffee, subscriptions, taxis — can add up to serious amounts and eat up to 30% of your budget, harming profits. Regular review and categorization of expenses help maintain control and avoid surprise cash flow gaps.

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3. Why add a 20% buffer to the budget? Isn’t that overspending?
The buffer acts as insurance for your business against unforeseen events — currency fluctuations, extra marketing costs, client refunds. It helps avoid crises and keeps your business stable.

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4. How much should I save for a financial cushion, and why is it necessary?
Ideally, set aside 3–10% of your net profit monthly until you’ve built a reserve that covers at least three months of regular expenses. These funds must remain untouched — even for debt repayment.

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5. What if I’m already facing a cash flow gap and debt?
Be transparent with creditors and ask for a 3-month payment delay. Focus on boosting sales and marketing, and pay down debts gradually — track payments in a spreadsheet for control and motivation.

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6. How do I account for rising costs in my budget?
Include a forecasted cost increase (e.g., +5–10%) in your financial model, and compare it monthly with actual expenses — this helps prevent losses.

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7. Why is a balance sheet more than just tracking expenses — it’s about transforming assets?
Buying equipment is an investment in an asset you can rent out or sell. It opens new opportunities for the business instead of just draining funds.

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8. How can a business owner stay financially aware even with a CFO?
Even with a CFO, you should have fast access to key financial metrics via simple tools (like Finmap) to make informed decisions and stay in control.

As part of a new investment round, Finmap has secured a strategic partnership with the UK venture capital fund 1991 Ventures. The company raised funding within a deal totaling over $1 million. The fund specializes in early-stage investments with a focus on supporting businesses from Eastern Europe.

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1991 Ventures helps innovative companies scale internationally, offering not only capital but also strategic support in market expansion and product development.

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An investment from such a reputable partner is a powerful signal of trust from the market — reinforcing Finmap’s position as a leading financial management platform for small and medium-sized businesses. It validates the product, the team, and the strategic vision as meeting the highest global standards.

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Why Did 1991 Ventures Invest in Finmap?

Finmap is a user-friendly online platform for financial management that has already helped over 4,000 companies bring clarity to their finances.

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Entrepreneurs from more than 100 industries choose Finmap not only for its intuitive interface and powerful features but also for its high level of data security. The platform complies with international safety standards used by leading global companies and banks. All data is transmitted and stored on secure servers in Europe using 256-bit encryption — one of the most robust encryption methods in the world.

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Finmap is a leader among financial management tools for small and medium-sized businesses in Ukraine.

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The platform integrates with over 2,800 banks and financial services worldwide, supports more than 35 fiat currencies and over 80 cryptocurrencies. In addition, Finmap’s team of experienced financial experts is ready to assist with financial management, mentorship, and the development of custom financial models for businesses.

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70% of businesses fail due to financial issues. Not because of the idea, not because of the lack of demand — but due to lack of control over their finances.

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That’s exactly the problem Finmap solves.

We invest when we see both strong product potential and a team with the strategic vision and operational discipline to scale effectively. Finmap is a prime example — a technology startup tackling a clear, large-scale business challenge that demonstrates not only product-market fit, but also the traction and maturity needed for global growth. — a representative of 1991 Ventures on why they invested in Finmap

The investors also highlighted:

• Consistent traction across Ukraine, the European Union, and Latin America — clear proof of Finmap’s ability to operate globally.
• ‍A strong team that continuously improves the product.
• A strategic vision — Finmap is more than just a financial management tool. It’s a platform that brings clarity to business finances and supports well-informed decision-making.
  
• A systematic approach to entering new markets and rolling out new features.
  

This is more than just a deal — it’s a strategic partnership that creates new growth opportunities for Finmap and its users.

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We believe that Finmap is already synonymous with effective financial management for entrepreneurs who value growth with confidence and control.

What Does This Mean for Finmap Users?

The investment from 1991 Ventures opens up new opportunities that will directly enhance the experience of our users:

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1. AI-Driven Analytics: More Confidence in the Future

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We're introducing AI-powered analytical tools that will:

• Forecast cash flow based on historical data and seasonality.
  
• Identify potential cash gaps before they become a problem.
  
• Highlight which expenses to optimize and which projects drive the most profit.
  

What this means for users: Faster strategic decisions — powered by real-time business data and automated insights.

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2. Faster Market Expansion with Deep Localization

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We’re expanding our localization efforts to include:

• Support for local currencies, banks, and payment systems (e.g. Brazil, Turkey, Portugal, Asia).
  
• Region-specific pricing plans.
  
• Local payment methods and language options.
  

What this means for users: Finmap adapts to any market — so you can scale without barriers.

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3. Enhanced Mobile Experience

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We’re improving the Finmap mobile app with:

• A redesigned UX for faster onboarding and more intuitive navigation.
  
• Improved app stability in regions with technical limitations (e.g. Latin America).
  
• Timely notifications about key events and updates.
  

What this means for users: Effortless financial control — anytime, anywhere.

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4. More Powerful Analytics and Reporting

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We’re upgrading reports with:

• Advanced filters, category breakdowns, and account grouping.
  
• The ability to set base currencies for multi-currency businesses.
  

What this means for users: A deeper understanding of your business finances, even with complex structures.

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5. Integrations with Banks, Payment Systems, and CRMs

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We’re enabling tighter integration with:

• Banks for faster transaction tracking and reduced manual input.
  
• Crypto wallets.
  
• CRMs — to connect financial and customer data in one place.
  

What this means for users: Less manual work, fewer errors — and more time to grow your business.

Get Finmap for free!

Try 7 days of financial clarity

No card required

In Summary, Finmap Users Will Get:

• Global reach — local banks, languages, and currencies.
  
• Routine automation — financial tracking that runs on autopilot.
  
• Powerful reporting — get clear answers to your financial questions.
  
• Reliable mobile app — control your finances on the go.

AI analytics, automation, localization, flexible reporting, and integrations — this isn’t just a set of features. It’s a complete system for financial management that replaces chaos with clarity and control.

• You’ll see exactly where your business is losing money.
• You’ll predict cash gaps before they happen.
• You’ll know which costs fuel growth — and which ones drain resources.
• You’ll get a full financial picture — all in one place, with no noise.

Finmap is the only financial management tool your business needs.

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Forget the chaos and uncertainty — Finmap gives you complete clarity and control, in any currency, on any market.

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Fast decisions, accurate forecasts, automated routine — so you can focus on growth, not paperwork.

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This isn’t just financial tracking.
It’s your most powerful tool for scaling and profitability.

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We’re working hard to make Finmap the global financial standard for entrepreneurs.

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Support from a strategic partner like 1991 Ventures is proof that our product and team are ready for the next big leap.

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Ready to take control of your finances?  Book a free consultation with our expert and get demo access to see firsthand how Finmap can work for your business.

Google has always supported Ukrainian business, and this year it took another step in this direction. In spring, the company launched the global programme "Google for Startups Ukraine Support Fund", which provides financial assistance to Ukrainian startups.

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In the second round, the fund totalled $10,000,000 in equity funding. In addition to financial support, Finmap and 23 other startups and tech companies receive mentorship and product support from leading experts of a global IT giant.

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Finmap is a easy-to-use cash flow management tool that has helped more than 3,500 companies from more than 100 different industries to get their finances in order.

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Entrepreneurs from 54 countries choose Finmap not only because of its convenient and intuitive functionality, but also because of the high level of data protection that meets the security standards of international companies and banks. The information is transmitted and stored on secure servers in Europe and encrypted using the highest 256-bit encryption standard.

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Finmap is a leader in Ukraine in the niche of financial management for small and medium-sized business owners.

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Finmap has connections to more than 2800 banks and financial services worldwide, support for 35+ currencies and 80+ cryptocurrencies. It also has a team of professional financiers who can help with financial management, mentoring, and the development of individual financial models for businesses.

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Google's Support for Finmap: Recognised on a Global Scale

The competition for the programme was intense with many selection criteria.

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Google chose Finmap because of its product innovation and ability to solve real business problems. This selection confirms the company's potential for growth and international scaling.

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Receiving funding and mentorship is not only a confirmation of the company's right course, but also new opportunities for international development, job creation and the use of technology to solve unique challenges, collaborate and attract customers.

New Opportunities for Finmap with the Support of Google: What Does It Mean for You as an Entrepreneur?

The funds received from Google will be used to improve Finmap tools. The main focus is on the integration of new features to automate financial management and analytics.

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This will not only expand Finmap's capabilities and improve the user experience, but will also provide a real opportunity for existing users to get more accurate and detailed data needed to make important business decisions. For new customers, this will mean easier access to effective tools that simplify financial management and help their companies grow.

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New AI assistant Functions to Optimise Financial Management

Google gave preference to those who actively integrate AI into their products. One of Finmap's key advantages in the selection process was the use of an AI assistant that helps entrepreneurs quickly receive recommendations and advice and easily optimise financial management.

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Google's support and experience will significantly expand the functionality and capabilities of the AI assistant, adding the ability to conduct in-depth analysis, analyse data, and provide valuable recommendations for business development. Users of the service will be able to receive insights on how to improve business processes based on their real data.

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The new features will also reduce routine operations, find cost bottlenecks, and help avoid financial crises. Finmap users can now focus on scaling their business, and Finmap will help them to organise their money.

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Try 7 days of financial clarity

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Business-Changing Financial Solutions: Supporting Local Businesses and Global Ambitions

The mission of Finmap is to help small and medium-sized businesses systematize financial processes and improve resource management. The founders of Finmap initiated a project to support Ukrainian entrepreneurs, assisting them in implementing effective financial management. This contributes to financial stability and business growth, even during challenging times.

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The company's funders and financial experts have repeatedly participated as speakers and mentors in economic and social events: Defence builder, Vector of Reconstruction, Ukrainian Humanitarian Front, Star for life and others.

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Support from Google opens the door to international markets. Finmap has an ambitious goal to become a key tool for financial management of small and medium-sized companies around the world. And you, as a Finmap user, have the opportunity to be at the forefront of this expansion.

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The service helps entrepreneurs better understand their finances and make informed decisions. This not only facilitates the work of individual companies, but also actively contributes to the development of the Ukrainian economy.

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The real-life cases of Finmap users are impressive:

• found $9,000 of avoidable expenses;
• have never fallen into a cash gap thanks to Finmap management;
• increased net profit by 10% per month;
• created a successful financial model for entering the international market;
• reduced the time spent working with finances by 50 times;
• for the first time in three years, we made a profit instead of constant losses and ‘falling into the red’.

These achievements were made possible by the implementation of the Finmap and with the help of a team of professional financiers who provide advice, financial management services, mentoring and the development of individual financial models for businesses.

Book a free consultation!

An outsourced CFO will help you set up effective financial management and make informed business decisions

With Finmap, you get not just tools for financial management, but a reliable partner on the way to development and scaling.

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If you want to:

• take the first step towards sustainable business development and transparent financial management,
• get advice on financial planning and business scaling.

Book a free expert diagnostic consultation and start turning your business goals into reality today!

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Finmap, a cash flow management service for businesses, closed a new round of investments amounting to $1.2 million. Presto Ventures, Sturgeon Capital, SID Venture Partners, startup incubator Startup Wise Guys, as well as the investment companies BRISE Capital and TBI Bank CEO Peter Baron, all took part in the round.

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The investment will be used to expand the team of developers, increase marketing, and extend service into Central and South Europe. Finmap will continue to develop and adapt to meet the needs of users in these markets. Further integration with new banks and CRM systems, as well as adding an invoicing option, are also planned for 2022.

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Finmap is a simple and convenient cash flow management service for modern businesses, with accessible functionality and a user-friendly interface. It synchronizes with user accounts via API, allows business owners to set up a payment schedule, makes it possible to delegate the data entry process, and provides in-depth, easy-to-understand analysis of all financial transactions.

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The service ensures anonymity and security of data storage, as it does not require clients to provide official data about the company (for example, USREOU code). The data is stored on cloud servers using the banking standard of data encryption. In addition, the transmission channel from the browser to the server is encrypted using SSL protocol.

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Subscriptions for small and medium-sized businesses cost from $25 per month.

Cash flow management is an important part of the business for entrepreneurs from all over the world. Understanding the amount of money that is generated and consumed is the only real way that you can see and understand the true state of your company in order to make critical growth and development decisions. Technological approaches in money management will help to effectively control and develop your company. Currently, we are working with companies from 12 countries, with plans to expand into Poland, the Czech Republic, Spain, and Turkey. — Finmap founders Alexander Solovei and Ivan Kaunov

Until they discovered Finmap Presto Ventures, one of the investors, assumed there was a lack of innovative solutions for cash flow management services.

In 2021, Finmap showed rapid growth in business performance, completely relaunched the product and expanded the team. Such results aroused investor interest. In this round, the company was further strengthened by core innovation capital from the Czech Republic and the UK. Finmap has new markets ahead, many growth opportunities, more to offer their clients, employees, and investors, and therefore an even more exciting adventure. We at BRISE are happy to support the team and be by their side on this journey. — Alexander Yatsenko, Managing Partner at BRISE Capital

Sturgeon Capital is pleased to be part of Finmap’s funding round. The product is elegant in its simplicity, powerful in its functionality, and clearly solves a pressing business problem. We believe that with a strong team and experienced investors, Finmap will continue to strengthen its position in existing markets, while also reaching out to new markets to drive growth. We look forward to being part of that. — Robin Butler, Partner at Sturgeon Capital

Startup Wise Guys made their first investment in the project in early 2021, when the Finmap team joined their acceleration program and continued their support after the release.

While the team initially focused on scaling in Ukraine with very promising results, during our acceleration program they invested their time to re-launch the product, taking many first-user ideas into account in preparation for an international launch. This launch in several Eastern European countries looks very promising. And the way Ivan and Alexander coordinated their teams in scaling (and doing it all completely remotely) is impressive and a strong indication of their managerial potential. — Cristobal Alonso, Global CEO at Startup Wise Guys

The Finmap project has a good combination of funders with expertise in IT solutions and business aspects. A strong team has created a quality product that provides effective solutions to common problems of the largest SMB segment of the market. Financial accounting for small and medium-sized entrepreneurs becomes easier, which opens new opportunities for their development, while the educational component of the service allows them to influence the general level of financial literacy. Finmap became one of the first portfolio investments of SID Fund I, as it not only corresponds to our investment focus, but also has a predictable potential for scaling, in particular, outside of Ukraine. — Dmitry Vartanian, Managing General Partner at SID Venture Partners

Finmap integrates with 4000+ European banks and PayPal, Wise, Revolut, ApiXDrive, Fondy services, as well as Western Bid data import.

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Integration with PrivatBank, monobank, PUMB, Alfa-Bank and Raiffeisen Bank Aval statements import is available for Ukrainian users. It is also possible to add accounts in more than 70 cryptocurrencies (BTC, ETH, LTC, ADA, BNB etc).

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In addition to the desktop version and Telegram bot, mobile apps for iOS and Android are already available.

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About the service:

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Finmap was founded in 2019 by serial entrepreneurs Alexander Solovei and Ivan Kaunov. At the beginning of 2021, Dmytro Dubilet, who is also the co-founder of the fastest-growing neobank in Europe monobank, joined the team. In the same year, the company attracted a round of investments from Ukrainian and European venture capitalists.

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Over the past year, the Finmap team grew eight-fold, from 7 to 58 specialists, all working entirely remotely.

Get Finmap for free!

Try 7 days of financial clarity

No card required