This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Dan Owens, CFO of Maxio, about the disruption of the Office of the CFO and the changing role of the CFO. Dan shares his insights and experiences from working with various portfolio companies and PE firms, highlighting the importance of data organization, the challenges of managing multiple systems, and the need for tech savviness and adaptability in the modern CFO role. Dan discusses the value of soft skills, such as leadership and communication, and the integration of sustainability in finance operations.

Listen this week as Dan gives recommendations for those starting their careers in finance and shares his favorite and most misunderstood metrics in the SaaS industry.

Quotes

• "Technology can be your friend, or it can actually be a burden when you look at all the nice shiny tools out there that are going to solve your problem. But at the core, you have to get to the fundamentals, the tool and the technology will help you get faster and more efficient at the fundamentals. But I think I never want to be in a position where I can't get to the answer or have to do it.” -Dan Owens [10:39]

• “I think as I describe it, the worst thing about a CEO and a CFO going to a board meeting is going into math camp, where the investors start poking and they find inconsistencies between what you may have represented last quarter or the quarter before. So one of the things is having a common understanding of where the data is coming from, a framework for reporting on it, and then making sure it's consistent .” -Randy Wootton [05:33]

Expert Takeaways 

• Data organization is crucial for CFOs to meet the needs of investors and partners and make informed decisions.
• The tension between different metrics reported by sales and finance teams can be resolved by having a unified data system.
• The modern CFO needs to be tech-savvy and adaptable to effectively use data and technology tools.
• Soft skills, such as leadership and communication, are essential for CFOs to partner with go-to-market teams and drive growth.
• The integration of sustainability in finance operations is becoming increasingly important for companies.
• The challenges for CFOs include attracting talent, managing remote teams, and making strategic decisions on technology investments.

Timestamps

[01:16] Dan's experience with portfolio companies and the need for better data organization 

[08:17] Changing skill set of CFOs: tech savviness, soft skills, and integration of  systems 

[01:06] Importance of data architecture and interoperability between systems 

[13:33] The value of bi-directional data sharing across departments 

[14:17] CFOs transitioning from back office to front office roles 

[17:41] The benefits of using the Maxio solution 

[20:19] The shift towards analysis and providing insights in finance 

[22:38] Balancing technology investments with ROI considerations 

[26:06] The importance of bringing people together in a remote team 

[27:39] Budgeting for internal use software 

[31:46] Favorite SaaS metric: Gross retention 

[33:07] Most misunderstood metric: Leverage ratio 

[34:29] Cash engine and growth engine in a business 

Connect 

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About MAXIO

Maxio helps businesses accelerate growth efficiency with the industry’s only all-in-one billing and financial operations platform purpose-built for the needs of B2B SaaS. With Maxio, businesses unify and automate every step of the order-to-cash lifecycle – across billing, payments, accounts receivable, revenue recognition, and metrics/analytics. Maxio enables SaaS winners to operate with confidence, leverage insights they can’t get anywhere else, and scale without limits.