In this discussion, Paul Barnhurst, known as the 'FP&A Guy,' dives into the evolution of Financial Planning & Analysis, highlighting its transformation from mere reporting to a vital strategic partner in organizations. He emphasizes the crucial skills for today's FP&A professionals, including modern Excel techniques and the strategic role of AI in forecasting. Paul's journey from government procurement to a finance influencer illustrates the importance of adaptability and lifelong learning, while discussing the impact of SaaS technologies on financial practices.

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Clayton Whitfield, Co-founder of SaaSOptics, a company that revolutionized financial operations for SaaS businesses by addressing critical gaps in their finance and operational systems. Clayton discusses the evolving roles within the office of the CFO, particularly focusing on critical SaaS metrics like revenue recognition, customer churn, and the composition of revenues. Randy and Clayton also underscore the importance of a finely-tuned work environment that facilitates a balance between front-office growth and back-office efficiency. Quotes“When you're trying to run a SaaS business to get your revenues right, get your metrics right and all that kind of stuff, especially a growing SaaS business, if you use all those disconnected tools, it puts a lot of pressure on the finance team and all those disconnected tools as you grow." -Clayton Whitfield [01:03]“The big thing for SaaS in particular is revenue recognition. The revenue recognition rules are just different, right? If you go and mow somebody's lawn and give them an invoice or let them or run their credit card, you basically can take all the revenue right away because you've satisfied all the rules for recognizing that revenue.” -Clayton Whitfield [14:10]Expert Takeaways Foundational Insights on SaaSOptics: Clayton Whitfield elaborates on the journey and challenges that led to the creation of SaaSOptics, providing a historical perspective on solving pressing financial issues for SaaS companies.Critical SaaS Metrics: The episode emphasizes the importance of metrics like revenue recognition, customer churn, LTV to CAC, and the nuances in defining these metrics to accurately manage and scale a SaaS business.Evolution in the Office of the CFO: Clayton discusses how the role of CFOs has evolved with the advent of SaaS-specific financial challenges, and how businesses must balance their investment between front-office growth and back-office efficiency. Strategic Leadership in SaaS: Both guests offer insights into what makes a great CEO, focusing on building effective teams, cultivating a strong culture, and the importance of allocating capital strategically.Timestamps(00:04) The Journey and Success of SaaSOptics(07:13) Transforming SaaS Business with Daily Invoicing Integration(09:28) Navigating SaaS Growth and Financial Maturity(14:10) Key Metrics for Running a Successful SaaS Business(20:42) Understanding and Utilizing Key Business Metrics for Growth(22:55) Understanding Metrics and Segmentation in SaaS Businesses(30:01) Building a High-Integrity, Hardworking Team for Success(34:40) Critical Skills for CEOs: Capital Allocation and Detailed Involvement(38:29) Key Metrics, Essential Reads, and Influential Voices for CEOsLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Clayton Whitfield LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Chris Morgan, CEO of LBMC. Randy and Chris highlight the evolving intricacies in financial operations within B2B SaaS companies. They discuss the necessity for moving beyond simple cash accounting to sophisticated systems capable of managing accrual accounting and providing deeper insights into business performance. With a rich background in accounting and finance, Chris talks about the significance of order-to-cash cycles, the dangers of revenue leakage, and the sophisticated demands placed on modern CFOs in today's data-rich business environment.Quotes“I think it’s really consistency. Not all businesses are the same. And you really want to have somebody who’s going to take the time and really kind of dive in and understand the business and the nuances around it so they can kind of better guide you on how all that should be captured and reported.” -Chris Morgan [19:54]“I think if a client is keeping their customers and growing and they're not losing business, then that's a great business, especially if they're hitting those two really well. And hopefully on the other side of it they're not losing customers, they're growing and adding customers as well from that standpoint.” -Chris Morgan [37:07]Expert Takeaways Implement Robust Accounting Systems: Utilize specialized SaaS tools to manage accounting operations, ensuring accurate and timely financial data.Maintain Consistency in Reporting: Develop and adhere to standardized methods for financial reporting and analysis.Prepare for Growth: Anticipate the inflection points in business growth that require enhanced financial oversight and transition smoothly with prepared systems and personnel.Embrace a Strategic Role: CFOs should evolve beyond the numbers, contributing to strategic business decisions and operational efficiencies.Timestamps(00:04) The Evolution of the CFO Role and LBMC's Growth(02:30) Outsourced Accounting Solutions for Growing Businesses(07:24) Navigating Financial Operations for Early-Stage B2B SaaS Companies(09:42) The Critical Role of Accurate Accounting in Capital Raises(16:12 Complexities of Consumption-Based Models in SaaS Revenue Recognition(28:40) Creating Consistent and Digestible Financial Reports(30:12) Strategic Financial Insights for SaaS Companies(33:38) The Importance of Data Visualization for Modern CFOs(33:44) The Evolution of CFOs from Compliance Officers to Strategic Partners(37:07) The Importance of Gross Retention and Churn in SaaSLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Chris Morgan LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Cory Sanford, Vice President of Culture and Talent at Guidant Financial. Randy and Cory dig into what it takes to be a successful CEO, offering actionable advice for founders, leaders, and aspiring entrepreneurs. Cory's innovative framework for measuring and fostering organizational culture through connection is meticulously detailed. While emphasizing the importance of effective one-on-ones and streamlined performance management, Cory also discusses the need for simplicity and clarity in leadership practices. Quotes“There's not a silver bullet in leadership. The closest thing that I have found though is effective in regular one-on-ones. The most important relationship in the workplace is the direct supervisor relationship. At Guidant we've really invested in making sure we're hiring good people leaders, not just technical experts, but these are people that may actually have less technical expertise. But we know are actually going to be the better people leaders because that relationship is so important.” -Cory Sanford [26:54]“I like to say that a good onboarding is the best recruiting insurance. And so investing in onboarding. When emotions are high, the chance for high leverage and high success is equally high. And so when people are nervous starting a job, we know we can make a big impact by investing there. So we give them a partner in crime. Somebody that they can ask all the questions.” -Cory Sanford [31:48]Expert Takeaways Cultural Stewardship: The CEO should be the chief storyteller, setting clear values and principles exemplified through consistent storytelling and strategic communication.Effective Questioning: As one ascends the organizational hierarchy, the skill set should shift from having answers to asking the right questions, fostering a culture of curiosity and continuous improvement.Connection as Culture: Cory's framework posits that culture is fundamentally about connection – to purpose, leaders, and each other. Measuring and acting upon these connections drive a strong organizational culture.Performance Management: A simplified approach to performance reviews can foster better conversations and relationships, focusing on impactful and actionable feedback.Strategic Engagement: Regular, meaningful engagement throughTimestamps(00:04) Unlocking Potential: HR Strategies for Remote Companies(02:21) Empowering Small Business Owners Through Retirement Fund Financing(06:05) Seven Secrets of Success for CEOs(14:06) The Importance of Asking Good Questions as a CEO(20:21) Measuring and Enhancing Workplace Culture Through Connection(24:56) High Participation in Global Virtual Events at a Hybrid Company(26:44) The Importance of Effective One-on-Ones in Leadership(30:15) Building Connections and Best Practices for Remote Teams(37:16) Balancing Performance Reviews with Budget Constraints and Calibration(43:00) Metrics, Business Books, and InfluencersLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Cory Sanford LinkedIn

Alex Shartsis, a seasoned go-to-market strategist for early-stage companies, shares his insights on avoiding common mistakes in startup growth. He emphasizes the importance of hiring the right talent who seeks impactful roles over prestigious titles. Alex discusses managing investor expectations and setting realistic goals while maintaining transparency. He also explores how structured experiments can tackle challenges and the need for scalable practices in revenue operations as startups transition from seed to Series A.

Bill Hollowsky, VP of Accounting Services at Kruze Consulting, shares his wealth of experience in the ever-evolving startup accounting landscape. He discusses the importance of implementing effective tech stacks early on, from QBO to NetSuite. The conversation dives into adapting to the crypto boom and AI's rise, touching on changing hiring practices and the need for agile methodologies. Bill emphasizes the role of strong back office capabilities in facilitating fundraising and acquisition, while offering insights into modern mentorship challenges in remote work.

Michelle Valentine, CEO of Anrok, shares her unique journey from civil engineering to tech and finance. She discusses the evolving role of CFOs, emphasizing the need to adapt skill sets for an AI-driven future. Michelle highlights how technology is transforming capital allocation and strategic planning in today’s market. They explore essential skills for financial leadership, including effective delegation and understanding investor expectations. Intriguingly, she advises on mastering AI prompts for actionable insights, showcasing the shift to data-driven decision-making.

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Dan Balcauski, Founder and Chief Pricing Officer of Product Tranquility. Randy and Dan explore the nuances of pricing from multiple angles and unravel the intricacies of how to structure effective pricing strategies that align with company objectives to drive both revenue and profitability. Dan emphasizes that successful pricing involves far more than just setting the right price—it's about understanding who you charge and how you charge. They also discuss the emerging impact of AI on pricing models and the importance of sophisticated tools and structures for effective pricing governance. Quotes“Who and how you charge determines your success more than what you charge.” -Dan Balcauski [06:50]“One of the major tools in the private equity playbook is pricing. It's one of the first things that they do. And why is that? It's because it's an untapped lever for growth and everyone's afraid to touch it.” -Dan Balcauski [29:28]Expert Takeaways Importance of Objectives: Align pricing strategies with clear, agreed-upon business goals, whether it's maximizing revenue, profit, or growth.Value Conversations Over Pricing Conversations: Engage customers in discussions about the value your product delivers rather than merely focusing on price points.Pricing Governance: Establish a pricing council to ensure cross-functional buy-in and ongoing adjustment to pricing strategies.AI in Pricing: Use AI to enhance existing capabilities and consider outcome-based pricing models rather than just passing token costs to customers.Iterative Learning: Don’t fear experimenting with pricing models; learn and adapt rather than aiming for perfection out of the gate.Timestamps(05:44) Dispelling B2B Pricing Myths and Effective Customer Conversations(14:31) Balancing Revenue and Profit in Pricing Strategies(21:44) The Importance of Strategic Pricing and Cross-Functional Alignment(29:43) Overcoming Fear to Unlock SaaS Growth Potential(32:19) Navigating AI Pricing Strategies and Best Practices(41:13) Insights on Metrics, Books, and Influencers LinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Dan Balcauski LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Nicolas Boucher, an AI Applications in Finance expert. Nicolas shares his rich career trajectory from PwC auditor to corporate finance leader and his eventual transition into AI and finance training. He sheds light on the immense potential of AI in streamlining financial processes and enhancing decision-making. Nicolas and Randy discuss automated invoice processing, real-time financial reporting, and leveraging AI for strategic finance operations. They also explore the transformative impact of AI on business efficiency, explaining its practical applications and the importance of continuous learning for finance professionals. Quotes“We get a lot of data. The problem is we pass through the data to management and then we don't help. There is a science that says that the brain registers and captures an image 60,000 times faster than a word or a figure. So if you really want to… advice for everybody working in finance and wanting to be noticed by management, thinking about the Napoleon map, send the graph that the management will remember and they will. This is what will stick. Not a long email. Not a nice report. The graph will stick.” -Nicolas Boucher [13:53]“We are the champions of Excel, we are the champions of ERP. I believe that we can be that good and be the champions of business in AI. We have a culture of using technology for our job. With AI, there is a lot of data that we can make sense of, and I think finance is ready to use AI.” -Nicolas Boucher [18:26]Expert Takeaways Career Transition Insights: Nicolas’ shift from auditing to corporate finance and eventually to AI and finance training, emphasizes the importance of continuous learning and adaptability.AI in Invoice Processing: How AI can drastically reduce manual processing time in invoice handling and expense management.Real-time Financial Reporting: Integrating various sub-ledgers using AI tools like Puzzle IO to produce real-time financial reports and insights, improving business decisions.Practical AI Applications: Asking the right questions to AI models to get the most useful and specific answers, especially in financial analysis.Learning and Networking: Encouraging finance professionals to leverage communities and resources to advance AI adoption.Timestamps(00:12) The Impact of AI on Finance(07:28) From Corporate Finance to Empowering Millions Through Digital Coaching(12:50) The Power of Visual Data Representation in Finance(20:05) Trusting AI Tools for Financial Analysis and Reporting(27:13) AI Enhancing Invoice Processing and Accounts Payable Efficiency(37:02) Key Metrics, Influencers in AI and Finance(43:44) Learning and Entertainment in Effective KeynotesLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Nicolas Boucher LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with two SaaS industry veterans, Amber Wendover, Principal at Thinking People Consulting, and Tom Perry, Chief Career Officer and Founder of Engaged Pursuit. Randy, Tom, and Amber discuss the intricacies of employee engagement and the indispensable role that personal growth plays in organizational success. They take a look at the poignant necessity for CEOs to focus on unlocking their team's potential, referencing Randy’s seven secrets of CEO success that are pivotal in steering organizational strategies. Amber and Tom also talk about the "8th" secret - the need to invest in the "people's tribe," empowering the individual contributors and front-line managers who often form the backbone of company operations.Quotes“As a leader, when you ask your team if they need something different, that creates a place where we can all have a discussion and a dialogue. Leaders, state your intentions even if you have an unintentional impact.” -Amber Wendover [25:45]“The best leaders are ones who show up as their true selves, who are authentic, who don't have all the answers, who are inspiring, who can have meaningful conversations, who talk about their weekends, who talk about their families.” -Tom Perry [19:13]Expert Takeaways Recognize the critical transition from individual contributor to manager and the importance of management excellence.Understand the value of fostering a growth culture versus a genius culture in the workplace.Acknowledge the importance of authentic leadership and human connections, especially in the context of remote or hybrid work environments.Remember the influence of personal brand and intention in leadership, contributing to a growth-oriented and learning-supportive environment.Timestamps(01:46) Unlocking Potential: The Seven Secrets of Successful CEOs(04:50) Addressing the Needs of the Forgotten Middle Community(10:26) Identifying the Eighth Secret of CEO Success(14:39) Transforming Corporate Culture: Growth Versus Genius(20:52) Fostering Authentic Leadership and Growth Culture(29:41) Reflecting on Legacy and Building Supportive Leadership Networks(32:14) Interpreting Interactions With Respect and Intention(44:48) Empowering Employee-Driven Learning and DevelopmentLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Amber Wendover LinkedIn Thinking PeopleTom Perry LinkedIn Engaged Pursuit