The Secret Sauce to Getting Your Whole Team (not just your CFO) to Run a Fiscally Tight Organization with Zip and Coinbase
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Rujul Zaparde and Cindy Yan discuss how to get whole teams, not just CFOs, to run organizations with fiscal responsibility. They note complex challenges like decentralized spending, many software tools, involvement from different teams, and rapid growth. However, the "secret sauce" is to deliver insights to employees, collaborate with them, build transparent spending processes, and design experiences like intuitive apps to gain sincere adoption of new financially prudent practices. The presentation concludes by inviting the audience to visit Zip's booth.
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The Secret Sauce to Getting Your Whole Team (not just your CFO) to Run a Fiscally Tight Organization with Zip and Coinbase
- 1. Rujul Zaparde CEO Zip The Secret Sauce to Getting Your Whole Team (not just your CFO) to Run a Fiscally Tight Organization Cindy Yan VP of Source to Pay and Supply Management Coinbase 1
- 2. No matter the market conditions, some things are always true Whether you run a company or a department… Ensure smart spending 2
- 3. There are additional complexities Decentralized spend + Proliferation of software + Cross-functional stakeholders X Hyper-growth 3
- 4. Now, try to roll out a new process Super comfortable, right? 4
- 5. Employee Adoption The secret sauce 5
- 6. How do you get sincere employee adoption ● Deliver insights ● Collaborate ● Build transparent processes ● Make the experience like an app 6
- 8. THANK YOU Come say 👋 at the Zip booth #245
Editor's Notes
- The world has changed in the last few months from “burn cash as fast and scale” to “slow spend, and spend with efficiency” As a 2x CEO whether you are running a company at strong market or incubating and launching a company during covid, some things always stay true: Whether you are running a team, department, or company you need to ensure smart spending [Rujul to transition over to Cindy to add comment on landscape and go into challenges] “Cindy – Regardless of the market changes we are seeing, there is an extra layer of complexity making it difficult for business to have control over spend and running a fiscally tight organization. What trends are you seeing that are causing this?”
- Decentralized spend Proliferation of software Especially at hyper growth companies – Finance's role isn't to pump the brakes on the business and put hard limits in place, it's to ensure smart usage of funds. Smart usage of funds can help you be more efficient with spending over time This is very common but Coinbase
- Implementing processes and controls (especially during a new financial climate) is as comfortable as stepping on a lego Rolling out new processes will strain internal efficiency and operations – unless you can get sincere employee adoption – not just going through the motions.
- Savings Efficiency Customer experience The Good Stuff/ “The Secret Sauce”: (3mins) (Rujul) Whether you are a CEO, Head of a department, a front-line manager – your employees are your customers. You need them to get onboard and adopt what you are selling. Relate everything back to the mission. The “why.” The story of three bricklayers Rujul to hand over to Cindy “Cindy – how have you seen this done well, what can you do to get sincere adoption” (Cindy) Collaboration: Architect and together – small working groups for new policies You avoid any potential issues and build champions Build good processes Eliminate as many black boxes as you can Finance examples: How do these new guidelines tie back to the company’s mission of becoming a public company? Why do I need legal, security, IT, and finance involved in approving my latest Sales SaaS tool purchase? What are the implications if spend is not tightly controlled