Streamlining their business, how the process works, and bridging those gaps of how they’re currently doing those manual processes to get those reports and data is going to grab their attention. They will be very experienced in strategy and corporate development. We have the possibility if the CFO is still using the Excel and disparate systems for accounting. If the controller doesn’t have visibility or disparate systems. They have to consolidate all financial information, it will take them time. Controller ship duty is one of the 3 major components that CFOs and controllers use. The CFO is responsible for the company’s present financial condition. So he or she must decide how to invest the company’s money. CFO oversees the capital. That determines the best mix of depth, equity, and internal financing. So overall, addressing issues surrounding the capital. Economic strategy and forecasting is also done by them.
Background
- Finance/Accounting background
- Experience in strategy & corporate development
Objectives
- Maintain high-profit margins
- Keep costs of goods sold low
- Achieve revenue goals
- Budgeting
Key Metrics
- Time to close the books
- Profit margin
- Budget vs actuals
- DSO(days sales outstanding)
Challenges
- Multiple systems
- Lack of automation
- Error-prone systems
- Lack of financial visibility
- Revenue recognition
Buying Triggers
- Digital Transformation
- Consolidated systems
- Audit ready
- Funding
Exploratory Questions
- How long does it currently take you to close the books? What is this process like?
- How do you complete client invoicing and reporting on project/item profitability?
- How do you currently measure lost revenue accurately due to multiple systems?
- In terms of organizational “hygiene”, what opportunities are there to get better insights (actionable data) to make fact-based decisions?
- What opportunities do you see to invest in building that capacity and capability?(“health” of the organization)
- What are your short-term and long-term growth plans? Dig deeper from here on how systems can support this.
- Are you currently seeking funding or preparing for a funding round?
- What challenges do you anticipate with that growth?