# Make Business Flow: a financial diagnosis that does not end up as a spreadsheet

> Karina Rasic, fractional CFO and founder of Make Business Flow, built the financial diagnosis of a US company on Fibady from its general journal.

Updated: 2026-11-06 · Author: Santiago Viglione (Fibady) · https://www.fibady.com/en/customers/make-business-flow

Fractional CFO services · Barcelona, Spain · https://www.makebusinessesflow.com

Make Business Flow is the firm of Karina Rasic, fractional CFO for SMEs and startups in Spain, Mexico and Argentina, based in Barcelona. Karina built the financial diagnosis of a US company with operations in Europe on Fibady: she started from the general journal and delivered dashboards that stay live every month, instead of a spreadsheet that goes stale.

## Who is Make Business Flow?

A fractional CFO takes care of a company's numbers without the company having to hire a finance director. Karina Rasic has more than 25 years in finance and more than 200 companies advised, and she organises her work in three steps:

1. **Financial diagnosis.** Gathering the company's information to understand the full picture.
2. **Dashboard and financial model.** Turning that information into tools for deciding clearly.
3. **Action plan.** Moving from knowing what is happening to knowing what to do.

The firm also offers business valuation and finance mentoring for CEOs. Karina is also the founder of a marketplace for buying and selling companies, and she shares finance content for business owners on her YouTube channel, podcast and newsletter.

## The problem: the diagnosis is delivered and goes stale

A financial diagnosis is usually a closed project. The data is requested, several weeks go into spreadsheets and a report is delivered. A month later the numbers have changed and the work starts again.

This case had an added difficulty. The client, a distribution company headquartered in the United States and active in Europe, runs an ERP built in-house, with no connector. For confidentiality, we do not publish its name.

## How do you build a financial diagnosis on Fibady?

1. **Export the general journal.** No connector is not a problem: the [general journal](/glossary/general-journal) in Excel is enough.
2. **Classify the accounts.** The [account mapping](/glossary/account-mapping) is done once and serves every later upload.
3. **Separate management reporting from the statutory books.** Sales-related costs are classified as direct costs to show the real margin, without touching the books.
4. **Build the KPIs shareholders ask for.** [Collection and payment days](/glossary/dso-dpo), cash conversion cycle and debt level, on [dashboards](/product/dashboards-and-metrics) that update with every upload.
5. **Give the client access.** The company checks its dashboards with its own user.

## What changes for a fractional CFO?

The diagnosis stops being a deliverable that has to be rebuilt. The dashboards from the first analysis still work when next month's data arrives, and the second step of the method, the dashboard, is already done. The time goes into the third: the action plan.


## Who is this case for?

Anyone who runs financial diagnoses for third parties, and any company that needs to explain its business to its shareholders. If you are a fractional CFO, see the [programme for fractional CFOs and advisors](/solutions/fractional-cfo-and-advisors).

## Frequently asked questions

### What is a financial diagnosis of a company?

It is a review of the company's economic and financial position based on its books: how much it earns and from what, how much cash it generates, how long it takes to collect and to pay, and how much debt it carries. It is the first step before an action plan.

### Can you do a financial diagnosis without connecting the ERP?

Yes. Exporting the general journal to Excel or CSV is enough. Fibady saves the column mapping, classifies the accounts and produces the P&L, balance sheet and cash flow. The first upload and classification take between 1 and 4 hours.

### Which indicators do the shareholders of a distribution company look at?

Mostly working capital ones: days sales outstanding (DSO), days payable outstanding (DPO) and the cash conversion cycle. Also margin by line, EBITDA and the level of debt.

### Can I see the real margin without changing the statutory accounts?

Yes. In Fibady the management chart of accounts is independent from the statutory one. You can classify sales-related costs, such as freight or import costs, as direct costs and see the real margin without touching the books.

Book a demo: https://www.fibady.com/en/demo