Driving Alignment and Tool Consolidation in Finance and Accounting

This chapter emphasizes the importance of aligning finance and accounting functions with the overall goals of the company by focusing on saving time, saving money, and supporting company objectives. It also delves into the significance of internal and external interactions, fair deal-making with vendors, and the strategic approach to tool consolidation within the organization.

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In this episode, CJ interviews Rob Goldenberg, the CFO of 6sense, a B2B predictive intelligence engine that uses AI, machine learning, and big data to help sales and marketing teams find the best accounts to target. Rob has experience in both high and low macro environments and talks about the tools and strategies he uses to handle these situations. He emphasizes the need for alignment in a company and in finance and accounting teams and shares his framework for achieving this. Rob also highlights the dual role of finance teams as internal and external service providers and their function as an external concierge service. They discuss the potential pitfalls of tool consolidation, how to ask for funding for important initiatives or tools, managing spend in tough times, advice for taking advice, his decision-making framework, and the genius of Charlie Munger, including why sometimes the best thing to do is to do nothing.

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Leapfin is accounting automation software that automatically prepares and posts reliable journal entries. High-growth businesses like Reddit, Canva, and Seat Geek choose Leapfin to eliminate manual tasks, accelerate month-end close, and enable accounting leaders to provide faster insights to help their companies grow. To automatically standardize your revenue data with measurable business impact, check out leapfin.com today.

Mercury is the fintech ambitious companies use for banking and all their financial workflows. With a powerful bank account at the center of their operations, companies can make better financial decisions and ensure that every dollar spent aligns with company priorities. That's why over 100K startups choose Mercury to confidently run all their financial operations with the precision, control, and focus they need to operate at their best. Learn more at mercury.com.

Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

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@cjgustafson222 (CJ)

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TIMESTAMPS:(00:00) Preview and Intro

(02:06) Sponsor - Netsuite | Maxio

(04:38) Disdain for Google Sheets

(06:11) Driving Alignment in Finance and Accounting

(09:09) Finance and Accounting as an External Concierge Service

(12:12) Why Tool Consolidation is Overrated

(18:29) Sponsor - Leapfin | Mercury

(20:27) Advice for Asking for Funding