The Role Forward: A Strategic Finance Podcast

Getting the Best Out of Fractional CFO Services with Scot Mollot, CFO at Attivo Partners

Sep 18, 2023

Scot Mollot, CFO at Attivo Partners, discusses the transition to in-house finance teams, the importance of clean data and automation, integrating systems, and hiring suitable finance and accounting candidates. They also explore the potential impact of AI in finance and offer insights into evaluating and selecting partners for fractional CFO or consulting services.

48:11

Episode guests

Scot Mollot

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Fractional CFOs play a crucial role in helping companies prepare for funding rounds, aligning financial models with the company's vision and demonstrating revenue opportunities and growth.

As companies grow, fractional CFOs assist in transitioning to in-house finance teams by providing job descriptions, recruiting support, and ongoing advisory services, emphasizing the value of leveraging networks and seeking strong mentors for career growth and decision-making.

Deep dives

Setting the stage with a strong financial model

When helping companies prepare for their next round of funding, a key aspect is ensuring they have a solid financial model that aligns with their vision and demonstrates revenue opportunities and growth.

Introduction

4min

Engaging with a Company: Accounting vs FP&A First

16min

Challenges of Using Salesforce for Finance and the Need for CRM Hygiene

2min

Data Infrastructure and Analysis

14min

Finding the Right Candidates for Finance and Accounting Roles

4min

Exploring AI in Finance and Its Potential Impact on Client Services

2min

Choosing the Right Partners for Hiring a Fractional CFO or Consulting Firm

5min

In this episode of The Role Forward, Joe and Scot dive into the world of fractional CFO services and the transition to in-house teams. They discuss the inflection points where companies outgrow fractional CFO services and the economic factors that drive the decision to hire in-house. The complexity of business activities and the need for a 24/7 finance team are key considerations.

The conversation shifts to data infrastructure and the challenges early-stage companies face in building and tracking plans. They emphasize the importance of clean data and the role of systems and automation. Joe and Scot also explore the difficulties in integrating various systems and the value of data analysis in deriving meaningful insights.

Scot shares his journey from startups to consulting and back, highlighting the growth and collaboration experiences. He explains the engagement process with companies, emphasizing the strategic value of starting with accounting before moving to more complex financial planning and analysis (FP&A). The episode concludes with insights into strategic projects and the path to growth.

Guest-at-a-Glance
💡 Name: Scot Mollot
💡What they do: CFO
💡Company: Attivo Partners
💡Noteworthy: Expert in fractional CFO services, with a background in startups and consulting.
💡 Where to find them: LinkedIn

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The Role Forward: A Strategic Finance Podcast

Getting the Best Out of Fractional CFO Services with Scot Mollot, CFO at Attivo Partners

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Setting the stage with a strong financial model

Guidance and support during fundraising

Transitioning to in-house finance teams

The importance of leveraging networks and mentors

Remember Everything You Learn from Podcasts