Customer stories
Parkable empowers investors and staff with Orchestra
Brody Stewart, Parkable’s Financial Controller and Loes St.Ather, People & Culture Lead, spoke to us about their goal to make parking easy and stress-free, and chooses Orchestra to streamline their equity management.
In terms of migrating the share registry it was simple as – an absolute breeze
Toby Littin, CEO of Parkable
The Challenge
Originally to manage all of our shareholder details we used a big spreadsheet with lots of tabs! This was very manual so caused us issues. We then used a US-based equity management platform.
However, it was expensive and because it was built for massive companies and had a US-law focus, it was hard to manage and we could only use the bare minimum while having to play around with it a lot to make it work for us.
The Solution
It’s much better value and straightforward to use compared to the other systems.The Orchestra ESOP module has taken something really complicated and made it very easy. Adding staff as shareholders has become a lot faster- easy as!
Having our ESOP on Orchestra makes it available to those who aren't necessarily familiar with shares, and by giving everyone access to their information it is more reassuring for staff. We get fewer requests from shareholders- for example, how many shares do I have, can I get a share certificate- as all their details are visible and can be accessed on their own terms.
It’s been helpful to give our legal and accounting partners log-ins to Orchestra, so they have been able to check share registry details and documents more efficiently. And for any audit work it will be useful for our accountants to be able to access the platform for information when they need it.
In any capital raising process, having Orchestra to process transactions will make that easy and give new investors the visibility they need.
In the next 12-18 months we will keep liquidity going with secondary trading events.It will give the option for shareholders- some who have been involved in the business since the beginning- to realise some liquidity.
We recently did some secondary trading manually, but this was lots of admin work and emails, so having a central platform where everything is documented in Orchestra will be really handy.
