GrowCFO Show

In the first of a 3 part series on scaling your FP&A capabilities, we’re looking at developing the FP&A team. GrowCFO Show host Kevin Appleby is joined by Jane Riley, Director at executive recruitment specialist Zanda, and Catherine Marks FP&A lead at GrowCFO. Catherine and Jane discuss building a scalable FP&A team to support rapid business growth. The first hire is important. Bringing in a dedicated FP&A professional is a luxury few will be able to afford, so the initial hire will likely be a generalist adapting to changes, says Catherine. Priorities for early-stage companies include cash flow, forecasting, and analyzing financial decisions. Team size and structure should align with business strategy and support functions, potentially including geography for larger companies. Recruiting the right skills and mindset is challenging, as FP&A requires a wide range of abilities. Jane highlights the competitive nature of the recruitment market. Offering variety, progression opportunities, and competitive benefits is key to attracting top talent. Employee turnover needs to be minimised, and Jane brings some great insights around why people leave organisations. Developing both people and culture is important. Direct learning, training, and broadening skills are ways to develop abilities, according to Catherine. Maintaining a strong finance culture and investing in employees can address organizational challenges. https://youtu.be/AlAHP5K5c-c Links Catherine Marks on LinkedIn Kevin Appleby on LinkedIn Jane Riley on LinkedIn Zanda Episode 175 Scaling FP&A 2 Choosing the right FP&A tools with Paul Barnhurst and Catherine Marks Episode 176 Scaling FP&A 3 Navigating an Acquisition with the Virgin Media O2 FP&A Team GrowCFO FP&A Competency Framework GrowCFO FP&A Bootcamp Timestamps Introducing Jane Riley. (0:11) Hiring a dedicated FP&A person for a growing business. (4:03) Hiring challenges in finance and accounting roles. (12:02) FP&A skills and culture. (19:08) Developing FPGA skills and becoming a great leader. (22:23) Factors leading to FPN leader turnover and career progression. (27:37) Building and maintaining a finance team in a growing organization. (33:26) Scaling businesses with DNA from a people perspective. (35:09) Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.  You can find out more and join today at growcfo.net

Luigi Testa, CFO at LinkSquares joins Kevin Appleby on the GrowCFO Show to share his journey growing LinkSquares from a small company with $2m revenue, through a $100m fundraise, to one with 100% revenue growth in recent years. LinkSquares helps legal teams automate tasks for more efficient work. Luigi discusses navigating business growth through technology, hiring expertise, and finance leadership as the CFO. His FP&A background has helped provide strategic guidance. How did Luigi navigate a $100m fundraise? Luigi led LinkSquares through a Series C financing of $100 million He discussed how they were able to complete this raise and diligence process in under 70 days. Leveraging tools like their contract analysis product Analyze allowed Luigi to quickly provide investors with contract and other diligence information during the fundraising process. Luigi believes that fundraising success comes from building relationships before raising funds. He emphasizes the importance of networking for CFOs. Luigi and Kevin discuss preparing diligently for fundraising through financial housekeeping and relationship building. Leveraging tools like LinkSquares can streamline diligence. How is the CFO role evolving as the company grows? The evolving CFO role focuses on maintaining healthy growth through efficiency gains. Leveraging AI can create automation and leverage resources. Looking ahead, CFOs will focus on scaling efficiently while capturing market opportunities. Data-driven decisions will guide accelerating or focusing on efficiency. https://youtu.be/yLGTVa1Buhk Links Best Practice Accelerator – Prepare for a Fundraising Process Luigi Testa on Linkedin Kevin Appleby on LinkedIn Timestamps Introducing Luigi Testa. (0:11) Growth strategy and finance leadership with a legal tech company CFO. (2:32) CFO role, responsibilities, and experience. (5:38) Fundraising and growth for a tech startup. (11:26) Fundraising, financial housekeeping, and legal tech tools. (13:12) Building relationships for fundraising and networking. (18:35) Fundraising and due diligence for startups. (21:16) The evolving role of CFOs in business. (27:25) Leveraging AI for business efficiency and growth. (30:00) Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.  You can find out more and join today at growcfo.net

Ashley Vukovits, joins Kevin Appleby on the GrowCFO Show ahead of the March GrowCFO Best Practice Accelerator that will give you practical tools and advice to plan a fundraise. She will be the guest in the first of three workshops in the accelerator. Ashley is based in Indianapolis, Indiana and is currently managing director of Liftbridge CXO. Liftbridge CXO specialises in placing fractional CFOs in start-up to scale-up stage technology companies to help them reach the next level of growth. Ashley has been involved in fundraising with many organisations and has experience across different types and sizes of deal. She brings this experience into the podcast conversation with Kevin. Ashley discusses various fundraising strategies for early-stage companies, including angel investors, venture capital, private equity, and debt financing. She emphasizes the importance of knowing cash runway and having a fundraising plan. Ashley explains that different fundraising stages involve different expectations, from a focus on leadership and vision at early stages to providing detailed financial data and substantiation when raising larger rounds. Cultivating long-term relationships with potential investors throughout a company’s growth is key to fundraising success. Ashley highlights the importance of existing investors re-investing during her experience fundraising in a problematic 2021 market. Thorough preparation for private equity fundraising is especially important due to increased scrutiny of financial data and processes. Ashley has helped companies improve their readiness through practice diligence runs. Effective management of the fundraising process relies on clear communication and follow-up. The CFO often plays a central “glue” role in driving this while keeping the CEO focused on running business operations. Upcoming best practice accelerator workshops between Ashley and Kevin will provide deeper dives into preparation, relationship-building, due diligence, and other actionable fundraising strategies. https://youtu.be/PSDfMGDWzbw Links Best Practice Accelerator – Prepare for a Fundraising Process Mentoring at GrowCFO  Ashley Vukovits on LinkedIn Kevin Appleby on LinkedIn Timestamps Fundraising strategies for early-stage companies. (0:11) Fundraising stages and strategies for startups. (3:22) Fundraising strategies and best practices. (8:26) Due diligence in private equity investments. (15:02) AI’s role in fundraising and due diligence processes. (18:59) Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.  You can find out more and join today at growcfo.net

Aneal Vallurupalli is a young CFO making a big impact. His career progression is remarkable, moving from investment banking to CFO roles at various companies, including his current role as CFO at Airbase. Aneal joins Kevin Appleby on the GrowCFO Show to talk about the state of Fintech in 2024. Airbase is revolutionizing finance by streamlining company spending processes through a platform that handles payroll, accounts payable, expenses, and physical/virtual cards. Aneal discussed how Airbase’s finance team works closely with product and engineering to develop the platform while also assisting sales and customers. He outlined the importance of the platform’s breadth, depth, and consumer-grade user experience for mid-market companies. Aneal Vallurupalli provided some insights into FinTech growth and competition: Aneal believes what matters most is having a strong product and target market that highly values that product. Airbase has found product-market fit and a retaining customer base. He predicted 2024 could be a tough fundraising year for companies without those key strengths, as many 2021 FinTech startups may need to raise funds but lack traction. Aneal noted Airbase had avoided frequent fundraising rounds by controlling its own destiny through a strong business model and multi-year runway from its last raise over 2 years ago. He acknowledged the FinTech funding environment has been volatile, with openings and closings in the IPO, M&A and private placement markets every few weeks. As a CFO, Aneal’s focus is assuming the worst and planning accordingly to position Airbase well if market conditions turn. Aneal discussed Airbase’s strategy around AI, which is focused on using AI to drive down friction and time for finance professionals within their customer base and employees using the product. For example, developing expense management capabilities allows expense reports to be submitted with no touch by the employee. He also said AI will impact finance teams’ day-to-day tasks, such as making expense report submission more seamless. However, he noted AI is not the central theme at Airbase – it is woven throughout the platform to enhance the user experience. Aneal and Kevin agreed that AI tools will be more useful as companies improve their data strategies and ability to analyze clean, homogenized data from various systems. Kevin highlighted the importance of data quality for AI to produce accurate results. https://youtu.be/C-utxGR_j0A Links Aneal Vallurupalli on LinkedIn Kevin Appleby on LinkedIn GrowCFO Automation Accelerator Timestamps Revolutionizing finance with a young CFO. (0:11) Career progression from investment banking to CFO roles. (1:07) Streamlining company spending processes. (5:39) FinTech growth, market competition, and recession predictions. (11:24) AI adoption in finance and its impact on teams. (17:15) AI, data strategy, and giving back in the finance industry. (20:03) Remote-first business model and its pros and cons. (25:42) Remote work challenges and self-starter hiring in fast-growing companies. (30:43) Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.  You can find out more and join today at growcfo.net

Nicolas Boucher joins Kevin Appleby on the GrowCFO show and shares his experience implementing AI in finance. Nicolas teaches people how to get started with AI in finance, and this is the focus of the conversation. He discussed many ways of using ChatGPT as an assistant rather than just a search engine. Nicolas discussed how to structure prompts to get the most value from ChatGPT, and gave some great examples, such as drafting letters, writing procedures, and generating training content. ChatGPT can also be used for data analysis, problem solving, and exploring automation opportunities using Python. Kevin and Nicolas discussed the rise of AI-powered assistants like Copilot, more natural language interactions, and increased automation of finance tasks. They emphasized experimenting with AI tools, identifying automatable tasks, and staying up-to-date on new capabilities through communities and courses. Nicolas has 15 years of experience working in finance, first as an auditor at PwC and then at a large French multinational company, Thales, similar to Boeing. He is passionate about helping people grow both personally and professionally. This led him to coaching and training others throughout his career. He now runs his own coaching and training business. Nicolas started sharing his insights on LinkedIn which helped grow his audience and career. He now works as a trainer and consultant focused on teaching AI and ChatGPT for finance professionals. His goal is to help as many people as possible learn how to implement useful AI tools in their work. He has developed practical and advanced courses on the topic. https://youtu.be/uamDikynzgE Links Nicolas Boucher on LinkedIn Kevin Appleby on LinkedIn Join the AI Finance Club GrowCFO FP&A Boot camp GrowCFO Automation Accelerator Timestamps Implementing AI in finance with Nicolas Boucher. (0:11) Using AI language model GPT for writing tasks. (4:16) Using AI tools for training and problem-solving in finance. (11:06) Using AI tools for data analysis and automation. (15:10) Automating finance tasks with Python and AI. (21:48) Finance technology trends and the role of CFOs. (26:21) Using AI tools for productivity and automation in business. (33:37) Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.  You can find out more and join today at growcfo.net

Adam Shilton, a leading voice on Linkedin and founder/host of Tech for Finance, discusses the current state of AI in finance, including advancements in AI tools, automating tasks, and improving workflows. He highlights tools like Notion AI, GPT for Sheets, and Microsoft CoPilot. Kevin shares his experience using AI tools for podcasting and building learning materials. They predict greater AI autonomy in 2024 and emphasize the importance of process optimization before implementing AI.

Kevin Appleby interviews Thomas Zweifel about his career as an author and consultant. Thomas explains that he writes books based on mistakes he has made working with clients in different cultures and industries so that others can learn from his experiences. Thomas is an award-winning author. Some of the books he mentioned writing include Culture Clash, about mistakes made working in different cultures, and Strategy into Action. His most recent book, Gorilla in the Cockpit, discusses how biases at the start of projects can lead them to fail. Their discussion touches on the importance of culture when executing strategy. Thomas talks about discovering the “bottle” of underlying assumptions that guide an organization’s thinking. He also emphasizes that the CFO has a key role to play in determining what activities are still relevant to the strategy and saying no to things that are obsolete. When discussing strategy in an uncertain world, Thomas advocates for his “Strategy and Action” approach of focusing on catalytic 100-day projects rather than multi-year plans. This allows organizations to test ideas quickly and adjust course if needed. Other topics covered include biases that can derail projects from the start, focusing each day on meaningful accomplishments, and using displays and routines to keep teams oriented towards strategic goals. Throughout, Thomas emphasizes examining assumptions and standing in the future as keys to strategic execution. Links Dr Thomas D Zweifel on LinkedIn Kevin Appleby on LinkedIn GrowCFO Best Practice Accelerator – Deliver Your Business Growth Plan Free video training with Thomas: 4 Secrets for Realizing All Your Commitments (Professional, Financial, Personal) with Freedom, Power and Peace of Mind. Thomas’ Books on Amazon UK and USA Timestamps Introducing Thomas Zweifel (0:11) Strategy execution and leadership challenges. (0:20) Project failures and biases in decision-making. (4:02) Unconscious biases in decision-making in business. (8:18) Strategy execution and cultural analysis. (12:09) Strategy and decision-making in a rapidly changing world. (17:02) Productivity tips for putting strategy into action. (24:14) Time management and productivity strategies for leaders. (28:28) Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.  You can find out more and join today at growcfo.net

Tom Ricca-McCarthy, CO-Founder and CEO of Lucidity joins Kevin Appleby to talk about how to execute your business strategy. Kevin and Tom discuss executing business strategy and the challenges involved. Tom explained that while formulating strategy is relatively easy, execution is the difficult part where a strategy needs to be translated into clear activities and goals. They discussed how communication is key to ensure everyone understands the strategy and their role. A common pitfall is strategies end up as documents sitting on shelves gathering dust rather than being implemented. Kevin and Tom agreed the starting point is identifying what to stop, start, and continue from the strategy. They stressed the importance of measurement and reviewing progress regularly. Tom is GrowCFO’s guest at the February Best Practice Accelerator “Deliver your business growth plan”. The accelerator gives GrowCFO members a two-week practical challenge, and the podcast provides a flavour of the tools and techniques Tom and Kevin will share during the accelerator. Tom looked forward to helping participants in the accelerator focus on putting strategies into action using the right tools for planning, communication, and monitoring. https://youtu.be/IJPFGD8dGpY Links Tom Ricca-McCarthy on Linkedin Kevin Appleby on LinkedIn GrowCFO Best Practice Accelerator – Deliver Your Business Growth Plan Timestamps Executing business strategies with a focus on CFO’s role. (0:11) Strategy execution challenges and mitigation strategies. (7:34) Communication and strategy alignment in organizations. (13:56) Strategy execution and planning. (19:50) Strategy, execution, and review frequency. (26:10) CFOs’ role in data-driven decision-making. (31:15) Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.  You can find out more and join today at growcfo.net

Isaac Heller, CEO of Trullion, discusses the impact of AI on the CFO role. Trullion automates accounting workflows, while other AI applications include customer support, marketing, and financial planning. Early adoption may have high costs, but they are expected to decrease over time. CFOs should avoid vendor lock-in and be aware of emerging AI costs.

Finance teams are changing rapidly. AI and digital transformation are removing many traditional accounting roles, and the modern finance team needs to learn new skills. But how do you upskill your finance team? Award-winning author, executive coach and HR professional Marlo Lyons joins Kevin Appleby on the GrowCFO Show to specifically answer the question, “How do you upskill your finance team?” Marlo discussed with Kevin how finance leaders can develop talent within their teams. Some of the key points discussed included: Developing a workforce plan: This involves forecasting how finance functions and jobs may change with automation/AI, determining the appropriate size of the finance team, and identifying any new skills that will be required. Spotting talent: Marlo recommended looking at soft skills like learning agility when evaluating current staff who may be ready for more strategic roles. These types of skills are important for developing leadership potential. Using 360 feedback and succession planning: 360s provide insights from colleagues while succession planning involves creating profiles for future roles to determine what skills individuals need to develop to be ready for promotion or new opportunities. Aligning values with skills and career path: Understanding one’s values helps identify fulfilling career paths aligned with both individual interests and company needs. This improves engagement and retention. Prioritizing learning agility in recruiting: Given talent shortages, companies don’t need to find candidates ticking every box but rather those with the flexibility to learn new skills, especially when onboarding support can be provided. Marlo Lyons is the author of Wanted – A New Career, which was awarded best self-help book of 2022. https://youtu.be/Bc7QhV5yZhI Links Marlo Lyons on LinkedIn Kevin Appleby on LinkedIn GrowCFO Finance Team Skills Assessment Wanted -> A New Career: The Definitive Playbook for Transitioning to a New Career or Finding Your Dream Job on Amazon Timestamps Introducing Marlo Lyons (0:12) How to upskill your finance team (1:28) Workforce planning, talent spotting, and soft skills. (4:54) Leadership, development programs, and finance team collaboration. (9:45) Leadership development tools and techniques. (14:09) Career coaching and identifying values for job satisfaction. (18:17) Values, culture, and diversity in the workplace. (23:10) Evaluating talent and workforce planning. (28:24) Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.  You can find out more and join today at growcfo.net