Barry Jahansetan CFO shares his learnings working with growth stage startups to transition from an outsourced accounting/CFO service to an in-house Accounting/Finance/Revenue Ops organization ready for scale.
2. Problem
You are a series B/C SaaS startup and need
SaaS centric business support vs. accounting
help to fundraise and scale successfully
Solution
Move Accounting & Finance in-house if outsourced and/or
supplement your current team with upgraded skill sets, systems, and
operations under a Finance Enablement Playbook
3. What is Finance
Enablement?
A holistic approach used to cost effectively upgrade the financial
operations of a SaaS startup to support scale by putting in place the
right leadership, team, best practices, KPIs, training, and systems.
4. Focus On People, Processes,
KPIs, and Systems is critical
to Scale The Organization
5. Hire The Right People Under
The Right Leadership To Avoid
Problems Down The Road
6. I. SaaS CFO/VP Revenue Ops: Financial architect, KPIs Gatekeeper,
Operations Quarterback, Team Mentor, Manages Board, and Advises CEO.
Imposes revenue & expense discipline for greater scale.
II. Controller. Accounting/Billing & Collections/Subscription Management/Cost
Control/ASC 606 Rev Rec/Systems/Audit/Reporting/Stock Admin/Sales Tax.
III. Office Manager. Facilities/Admin/Accounting Ops support.
IV. Financial Analyst. Planning/Modeling/Data & KPIs/Reporting/Systems.
V. CRM Administrator. Maintain database, establish sales processes &
workflows, revenue planning, comp plans, lead management, and training.
Initial Team
8. Systems, Processes, & KPIs
A. Choose the right billing/subscription management system for your
business model! Intacct/Netsuite<<Zuora>>Salesforce
B. Accounting systems. International consolidation? Intacct/Netsuite.
C. Financial Planning: Intacct/Netsuite/Adaptive Insights.
D. SaaS KPIs. Define, extract, and report key metrics across Sales, Marketing,
Customer Success, COGS, Operating Expenses, & Headcount.
E. ASC 606 Rev Rec, effective 1/1/2019. It’s not just about accounting it
affects your sales deals e.g. volume discounting, without a system you’ll be
out of compliance!
F. Sales Tax compliance. Avalara.