Company: Athena, San Juan, PR
Company Description: Athena, founded in 2020 by Jonathan Swanson and Robert Hayes, connects CEOs, founders, investors, and executives with the top 10% of Executive Assistants worldwide. Athena Assistants empowers leaders to unlock time abundance through the art and mastery of delegation.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Finance
 Nomination Title: Athena Transforms Financial Operations to Drive Global Success
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video:
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated organization's finance achievements since the beginning of 2023, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization's history and past performance (up to 200 words):
Total 177 words used.
Founded in 2020, Athena began as a bold initiative in Puerto Rico, with the mission of redefining virtual assistant services in a competitive freelance market. In just a few years, the company has evolved into a global leader in the delegation and executive assistant space, with over 3,000 employees supporting over 2,000 world's top CEOs and founders–all driven by innovation and a commitment to excellence. Central to this success is Athena’s Finance team, whose transformative achievements have reshaped financial operations, enabling unprecedented growth and sustainability.
During its first two years of operation, Athena faced significant financial hurdles, particularly cash flow challenges. The turning point came in April 2022, with the appointment of Chief Financial Officer Rosanna Arceo. With over two decades of experience, Rosanna led a comprehensive transformation of Athena’s financial operations. A strategic $1 million loan from CapChase in 2022 catalyzed a remarkable revenue surge, growing from $3.5 million to $16 million within 12 months. By the end of 2023, through strategic forex management and cost optimization, revenue had skyrocketed to $31 million.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2023 that you wish to bring to the judges' attention (up to 250 words):
Total 223 words used.
1. Strengthening Financial Strategy
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Foreign Exchange (Forex) Management: Developed strategies to support local currencies in service regions, mitigating financial risks.
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Profitability-Based Price Standardization: Conducted an extensive profitability study, leading to a 20% price increase that aligned pricing with value delivery.
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Vendor Contract Renegotiation: Achieved significant cost reductions, including lowering collection rate finance fees from 3.65% to 2.60% of gross revenue.
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Major Funding Secured: Raised $53 million in December 2023, stabilizing Athena’s finances and enabling bold expansion initiatives.
2. Modernizing Financial Operations
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Replaced outdated spreadsheets with industry-leading tools such as QuickBooks, Stripe, and Procurify.
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Enabled real-time financial insights, improving decision-making capabilities.
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Automated financial processes and cleaned up historical records to enhance accuracy.
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Implemented industry-standard controls, transforming Finance into a strategic partner for leadership.
3. Empowering Employees Through Stability
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Established a legal entity in the Philippines, transitioning nearly 2,000 professionals from independent contractors to full-time employees.
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Provided job security, benefits, and a stronger sense of belonging.
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Reinforced Athena’s commitment to its workforce, allowing employees to focus on delivering exceptional service.
4. Driving Global Expansion
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Kenya: Established a legal entity to support growing demand.
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Latin America: Launched expansion efforts to further solidify Athena’s position as a global leader in virtual assistant services.
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Philippines Facility: Secured an office building in Quezon City to enhance recruitment and training efforts, investing in workforce development and infrastructure.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 120 words used.
Athena’s Finance team is more than a numbers department; it is a hub of innovation. By adopting cutting-edge tools and prioritizing transparency, the team has turned financial operations into a competitive advantage. Their efforts have:
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Empowered leadership with real-time insights for informed decision-making.
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Enabled successful fundraising initiatives, ensuring Athena’s ability to adapt and thrive in a dynamic industry.
From stabilizing cash flow and modernizing operations to empowering employees and driving global expansion, Athena’s Finance team exemplifies innovative achievement. Their forward-thinking strategies have not only secured the company’s financial health but also positioned Athena as a leader in virtual assistant services worldwide. These accomplishments make the Finance team a deserving candidate for the Stevie Asia-Pacific Award for Innovative Achievement in Finance.
- Optional: Reference here any attachments of supporting materials throughout this nomination and explain how they provide evidence of the claims you have made in this nomination (up to 250 words):
Athena's First Official Site in the Philippines
Athena sets up two more PH hubs
Athena opens $2.5.5M office in PH
Empowering Leaders, Redefining Remote Work
Athena Culture
How Athena's MBA Program Transforms Careers | Athena CEO Robert Hayes
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