As CEO of Nitrate Global, Mahyar wasn't just taking on industry giants.
He was doing it while maintaining independence in a sector dominated by foreign ownership, navigating complex government contracts, and managing sophisticated global partnerships – all with budgets measured in six figures.
Meanwhile, competitors operated with eight or nine.
"We're doing this with little money in an industry where things get done with eight, nine digits usually," Mahyar explains. "Doing that with six-digit budgets or less … takes a lot of financial discipline."
Nitrate Global operates in a rarified space.
The company grows aluminum nitride crystals used in high-performance semiconductors and is commercializing revolutionary technology for advanced packaging in critical sectors: aerospace, defense, data centers, and automotive.
"There are only four companies in the world that do what we do, and we're the only remaining domestically owned company in the space," Mahyar notes. "These days, that's starting to matter a lot."
Nearly every customer is a large global conglomerate, expecting enterprise-level professionalism even from their smallest vendors.
When Mahyar acquired the assets to start Nitrate Global just over four years ago, he was building from scratch. The company had existing assets and intellectual property, but no continuous revenue.
For national security reasons and to maintain control of their destiny, the company couldn't access typical funding routes. No venture capital. Limited access to government grants for three years. Everything was internally funded.
"To navigate through the tougher times, navigate through where you're not sure what payroll might look like in two months — that takes a lot of financial discipline," Mahyar recalls.
But financial constraints weren't the only challenge.
The company was simultaneously pursuing sophisticated customer engagements and government contracts requiring a level of financial professionalism most startups can't deliver.
"There's a difference between working with a small company that's sloppy and can't deliver what they need — even as simple as onboarding or invoicing processes or compliance security checks — than with a small company that does," Mahyar says. "If you're not on the ball with those requirements, you can't get through the process."
The production process added another layer: chemical production with numerous variables made modeling the cost of goods challenging.
Without the right financial infrastructure, Nitrate Global couldn't compete for the opportunities that would make the company viable.
Mahyar tested another accounting service for three months, but with disconnected systems, a lack of process, and too many platforms to learn, it didn’t work.
Then Nitrate Global found BELAY, and everything changed. From that point forward, the company had the financial partnership it needed.
BELAY matched Nitrate Global with Jamie Henry as their Accounting Experts, and the relationship became the financial foundation the company needed to scale.
Jamie manages complex international invoices across multiple currencies, handles sophisticated government contract invoicing with strict compliance requirements, and coordinates benefits, payroll, and vendor relationships.
She delivers weekly and monthly financial packages, models complex cost of goods for chemical production, and has invested hundreds of hours in structuring and budgeting for DoD proposals. She researches options for healthcare, benefits, and other financial services, and she's available for urgent needs evenings and weekends.
"She's so organized and on it that we don't have to talk often other than just via email," Mahyar explains. "She's always three steps ahead, looks down the line, and knows what needs to get done."
What sets Jamie apart isn't just technical expertise. It's her approach to their partnership.
"She's truly a great, caring person who is there," Mahyar says. "If most people did not know her, they would think that she's just part of the team."
And her communication style makes all the difference.
"Clear communication, professional, approachable, listens well. There's caring and passion for what you do, and then there's caring at a professional duty level. She certainly has both of those."
The impact shows up across every aspect of Nitrate Global's business.
The company has reduced the cost of goods through proper modeling and analysis. Jamie’s research into health care, benefits, payroll processing, and taxes has saved significant money.
"In many of those cases, we would have been spending a lot more money if it weren't for her hard work," Mahyar says.
With Jamie’s support in structuring budgets and managing compliance, Nitrate Global has successfully secured government contracts and grants — funding sources that were out of reach for three years.
"It's incredibly complex, especially with DoD, to put those budgets together. It took hundreds of hours of work."
The financial sophistication Jamie delivers has been critical to establishing and maintaining credibility with large corporate customers and investors.
"Almost anybody we work with is a large global conglomerate, and they recognize that they're working with a small company — but there's a difference between a small company that's sloppy and one that has their stuff together."
As the company has grown, Mahyar has pulled back from day-to-day operations to focus on broader strategy.
"Having that financial clarity on a timely basis is critical because I'm only looking at it a lot less frequently than I used to. Because it's been so standardized and so consistently great, that's the only way I can do that."
Perhaps most importantly, Mahyar and his team don't worry about financial operations falling through the cracks.
"I do not have to worry about things getting missed," Mahyar explains. "In just about any operation I've been involved with in the past, you almost always have to check on things, worry about whether someone remembered to do something.
“When it comes to Nitrate Global and the work with BELAY, you don't have to worry about that. You know what won't get missed."
When asked what makes BELAY different, Mahyar's answer is immediate: "Process."
"You guys have built a process that, even in the most disorganized of times when the company is going through daily or weekly changes, and nothing is standard, you've managed to build a process that's seamless to us.
“We don't have to log into five different systems and learn eight different things. Somehow, you guys have built a process that is seamless to the client, yet incredibly efficient and consistent and uniform."
When asked about BELAY's value, Mahyar's assessment is unequivocal.
"Across small to large, all the way up to the big four. I've worked with all of it.
“In terms of professionalism, process, and ease of relationship, it is perfection. If I could model every financial outsourcing relationship like this, I would. If there was perfection, this is as close to it as you're going to get."
The company has achieved what seemed nearly impossible.
"Because of BELAY, we were able to pursue opportunities that we would not have been able to otherwise and also navigate some pretty tense times with shifts in project timing, government shutdowns, and everything else. We wouldn't have been able to otherwise without BELAY's help."
For leaders considering whether outsourced financial support is worth the investment, Mahyar's message is clear: "As long as there isn't a barrier like system compatibility, it would be a huge mistake not to."
He emphasizes what Nitrate Global gained.
"Delivering a level of financial sophistication and foresight and management that is hard to find in a small company, or ultimately for a small company to be able to afford. Without that level of financial sophistication, things tend to get missed, not get thought about ahead of time.
“There is no way we would have been able to go after some of the more sophisticated customers and partners that we work with."
His final assessment: "They are truly invaluable to the company. There is no way we could do what we've done without them. They've been there with us through every possible aspect of it, and without missing a beat. We get what we need, when we need it."
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