“Your budget is counter-productive” — Michiel Boere, CFO of Remote

Michiel Boere, the CFO of Remote, joins CJ to talk about building multinational companies and the benefits of ditching traditional budgets for better business outcomes. Michiel introduces listeners to Remote's business model and discusses how it levels the global job market by enabling companies to hire talent from anywhere while absorbing complications regarding payroll, taxes, and legal entity status. The conversation also covers the complexities of managing a multinational company and the challenges of scaling finance operations globally. As a risk-on CFO, he breaks down how he looks at unit economics in order to underwrite certain risks necessary for in growth. He also shares insights from his experience at Uber before explaining how budgets can lead to suboptimal decisions, such as unnecessary spending or missing out on valuable investments.

—

SPONSORS:

Planful is a financial performance management platform designed to streamline financial tasks for businesses. It helps with budgeting, closing the books, and financial reporting, all on a cloud-based platform. By improving the efficiency and accuracy of these processes, Planful allows businesses to make better financial decisions. Find out more at www.planful.com/metrics.

Vanta's trust management platform takes the manual work out of your security and compliance process and replaces it with continuous automation. Over 9000 businesses use it to automate compliance needs across over 35 frameworks like SOC 2 and ISO 27001. Centralize security workflows, complete questionnaires up to five times faster, and proactively manage vendor risk. For a limited time, get $1,000 off of Vanta at vanta.com/metrics.

RightRev automates the revenue recognition process from end to end, gives you real-time insights, and ensures ASC 606 / IFRS 15 compliance—all while closing books faster. Whether it's multi-element arrangements, subscription renewals, or complex usage-based contracts, RightRev takes care of it all. That means fewer spreadsheets, fewer errors, and more time for your team to focus on growth. For modern revenue recognition simplified, visit rightrev.com and schedule a demo.

Brex offers the world's smartest corporate card on a full-stack global platform that is everything CFOs need to manage their finances on an elite level. Plus they offer modern banking and treasury as well as intuitive expenses and accounting automation, bill pay, and travel. Brex makes it easy to control spend before it happens, automate annoying tasks, and optimize your finances. Find out how Brex can help you make every dollar count at brex.com/metrics.

—

FOLLOW US ON X:

@cjgustafson222 (CJ)

—

TIMESTAMPS:

(00:00) Preview and Intro

(02:32) Sponsor – Planful | Vanta

(04:43) How Remote Levels the Playing Field

(08:02) The Marketplace-Like Element of Remote

(09:52) Increasing Optionality Versus Decreasing Costs

(13:11) How Remote Built a Multinational Company in Five Years

(14:58) Sponsor – RightRev | Brex

(17:48) The Complexity of Building a Multinational Company

(20:53) Scaling Finance Globally with a Distributed Team

(21:51) Remote’s Revenue Lines

(23:06) Managing FX in Multiple Countries

(26:06) Embracing Investment and Risks

(29:37) The Biggest Challenge Michiel Tackled at Uber

(32:50) Lessons Michiel Learned About Complexity from Uber

(37:42) Why Your Budget May Be Counterproductive

(40:56) How to Get Your Board to Change Their Thinking About Budgeting

(44:04) Setting Ambitious Goals for Revenue Generators Without a Budget

(45:06) Changing Your North Star Metric as Your Company Grows

(46:21) Non-Standard Metrics That Michiel Looks At

(47:31) Long-Ass Lightning Round: HR Mistakes

(49:55) Michiel’s Biggest Career Risk

(56:21) Finance Software Stack

(57:40) The Wall Street Journal Test and the Blush Test for Expenses