Yemi Orogbemi
Founder & CEO
Seventeen years of finance experience: senior accountant, financial planner, financial analyst, finance manager, sales controller, Python expert, and data scientist.
I've worked alongside finance teams and witnessed many failed IT reporting projects, which inspired me, seventeen years ago, to begin automating finance reports, including building four in-house applications for Macy's and Coach. I then joined an IT reporting project to understand their challenges, and it was clear that most data engineers lack the financial knowledge vital to creating useful reports. It's like asking an English-only speaker to write in Spanish. Furthermore, expensive self-service solutions are rarely utilized because information consumers want to be served like any other consumer.
I created Nemo to solve these problems. I speak visualization, finance, and IT, which are necessary to develop a low-cost solution to deliver real-time financial data. A solution I'm committed to ensuring exceeds all expectations and delivers accurate information to support corporate money managers.
Why automation?
Like a 2-year-old in a toy store, money, the lifeblood of organizations, tends to scatter around when you take your attention off it. Money is not a static thing; it is an energy that requires constant motion and strong control.
Finance automation is like purchasing one of those GPS devices for kids. It wouldn’t stop a 2-year-old from wandering off, but it would notify the caretaker when they’re doing so. Furthermore, the solution would allow the caretaker to work on other priorities knowing the GPS will send an alert when attention is needed.
With its many repetitive and standardized tasks, financial analysis is ideally suited for automation. The platform interacts with systems and applications involved in the process and mimics manual financial analysis 24/7. An alert will be sent if a potential cost overrun or risk is detected.
Like a GPS, Nemo watches the map so you can focus on the road ahead.
Case studies
Macy's, Inc. is one of the nation's premier omnichannel retailers
Problem:
Macy’s marketing only reviewed the budget once a month (reactive) which caused cost overruns and frequent restatements.
Solution:
Created algorithms to update the budget results daily, which made the team proactive and reported accurate numbers to corporate finance.
Benefits:
Improved cost control
Minimized surprises
Improved accuracy
Fast management reports
Coach is a luxury American fashion house specializing in leather handbags, luggage, and accessories, as well as ready-to-wear.
Problem:
The procurement department couldn’t report on historical project financial information saved in different formats across 400 excel workbooks.
Solution:
Created algorithms to scan, clean, autocorrect, align, and create a database from 400 excel workbooks. We then used automation to help managers get information based on simple filters.
Benefits:
Improved cost control
Helped with planning and strategy
Information used for vendor price negotiation
Fast management reports
Pace is a leading contemporary art gallery representing the most significant artists and estates of the 20th and 21st centuries.
Problem:
The gallery accounts didn't understand the data and managers were making decisions in the dark.
Solution:
Created algorithms to understand general ledger and chart of accounts to make reporting available to managers.
Benefits:
Improved cost control
Monthly P&L and Balance Sheet
Delivered daily reports to sales teams
Improved receivables
Fast management reports