How Cypher Helped Galaxy Digital Cut AR by 50%
Meet Pierce Johnson
Galaxy Digital is a mission-driven SaaS company focused on driving volunteerism across the U.S. and beyond. When Pierce Johnson took on the CFO role in March 2023, he knew his job extended beyond managing the books, with a focus on fueling growth through financial precision and operational efficiency.
“Cash is so important to our business,” Pierce shared. “Being able to execute on our plan means we have to be really disciplined and precise about how we’re spending money and when.” But the company’s billing and collections systems were struggling to keep up with those ambitions.
The Situation
Galaxy’s AR balance was nearly double what it should’ve been. Their subscription billing tool was complex and underutilized. Two failed hires for a billing specialist position had left the team overextended, and a recent acquisition had dumped a disorganized load of financial data into their systems.
Cypher stepped in and reduced that AR balance by 50%, creating immediate breathing room for the finance team.
“Subscription management can be technical, and if you don’t have the right tools, it can be chaotic,” Pierce explained. Cash conversion was slow. Confidence in the back office was low. Scaling felt out of reach.
Our Approach
Pierce was referred to Cypher by a trusted partner, and from day one, he found a responsive, high-level team that could operate independently, ask the right questions, and work across both tech and accounting.
“One of the benefits of working with a professional services provider is that they have an obligation to get it working right,” Pierce noted. Cypher quickly took over billing, invoicing, collections, and eventually accounts payable, handling each task reliably and with care, despite operating in a different time zone.
Cypher did more than complete the job; they enhanced the entire system. They questioned inefficient workflows, digitized payment flows, introduced credit tools, and helped implement a new billing system to get money in faster.
“Their team was hugely important in helping us whip that into shape and integrate it into how we function,” Pierce said, reflecting on the post-acquisition cleanup. Cypher also advised on tax and transaction booking, and acted as a true thought partner to the CFO’s strategic decision-making.
The Results
“Our books are more accurate because of the systems they put into place,” Pierce emphasized.
With only three people on the internal finance team, Galaxy suddenly had the power of five specialized experts at its fingertips — without needing to hire or train in-house.
Subscription Billing, Handled
Post-Acquisition Cleanups
Faster Cash In, Smarter Cash Out
If you’re ready to transform your finance ops like Galaxy Digital did, let’s connect.
Build your empire—we’ll crunch the numbers. — Courtesy of Cypher
Who we are
01 The Challenge
After two failed hires and an overloaded AR balance, Galaxy Digital needed expert help to fix broken billing and accelerate cash flow.
02 Our Approach
We embedded quickly, owned the function end-to-end, and built systems that worked better, not just faster.
03 Implementing the Solution
From digitizing billing to integrating messy acquisition data, we modernized Galaxy’s finance ops and filled key skill gaps.
04 The Outcome
Cash came in faster. Payables were stretched further. Stakeholders got better data. The internal team got their time back. Cypher reduced Galaxy’s AR balance by 50%, creating immediate impact.
“It’s no exaggeration to say — they’re the most popular people at our company. Everyone loves working with them. They’re reliable, professional, and just sweet as can be. That’s worth its weight in gold.“
— Pierce Johnson, CFO at Galaxy Digital
