As amazing as it might sound some companies do find the Holy Grail of growth! In doing so their sales and revenues increase by astonishing numbers. But growth is just the beginning, the real challenge is sustaining it and managing it successfully. Chad Gold, the Chief Financial Officer at Salesloft, shares his strategies and wisdom on how CFOs can manage fast-growing companies. In this episode, we discuss: -What factors make a business grow fast? -What is the key to managing fast-growing companies successfully? -Why should CFOs build cross-functional partnerships with all business teams? -How to establish and manage the right processes in a high-growing company? -What are the main functions of finance? Presented by Personiv https://insights.personiv.com/cfo-weekly
They say that people don't quit their job – they quit their boss. Today's guest has categorized the various types of bad bosses and tips for dealing with them. Dave Bookbinder goes Behind The Numbers with Vicky Oliver, multi-bestselling author of six books on career enhancement, including Bad Bosses, Crazy Coworkers & Other Office Idiots. In this episode, Vicky discusses the personality types of bad bosses and offers advice about how to manage them. She also shares her thoughts about the Great Resignation. About the Host: Dave Bookbinder is the person that clients reach out to when they need to know what their most important assets are worth. He's also on a mission to change the conversation about how the accounting world recognizes the value of people's contributions to a business enterprise, and to quantify what every CEO on the planet claims: “Our people are this company's most valuable asset.” Dave is a Managing Director at B. Riley Advisory Services, where he works closely with business owners, CFOs, Controllers, and CEOs. Dave has conducted valuations of the securities and intangible assets of public and private companies for various purposes.
In this episode of Beyond the Meter, host John Failla is joined by three Duke Energy Sustainable Solutions team members. Mark Adams is the Business Development Manager, Mike York is the Strategic Account Manager, and Wayne Johnson is the Key Segment Manager for Education. These experienced executives walk through practical steps toward gaining approval for resiliency projects. You will want to hear this episode if you are interested in... Understanding the project [02:21] Making the business case for a project [05:59] The “Money Authority Need” concept [10:14] Barriers to communication [15:21] The DISC profile [20:34] Building consensus [24:03] Risk-adjusted cost [30:22] Before the C-suite meeting [39:58] Making the business case Achieving internal buy-in for energy managers is a common challenge. Many projects miss the mark on this critical first step in making the business case for a project. Fully understanding the project, need, and goal will lead to precisely what's necessary for a project to achieve that goal. Starting with the end in mind and understanding the process will direct how the project is communicated. Everyone has different communication styles, so choosing the right person to present varies by initiative. Typically, engineers can speak to engineers and do a reasonably good job communicating with finance. Still, many engineers would find it a challenge to translate an initiative into business results and talk to executives. The presentation must be succinct, with further data ready for when there are deeper questions. The goal is to give people the information they need to make a reasonable decision and not drown them in detail and minutiae. With data, details can become muddled in the impact, degrading the target outcome's importance. Begin with consensus The default starting point for many projects has been receiving approval from finance. However, finance tends to wait to follow after the authority has expressed initial interest. At that time, a higher priority is placed on the project, and the project will receive more support. The entry point has to be with the individual with the need. Finance tends to look for a simple payback or some framework that may not apply well regarding the replacement of assets. The presenter will need to present the initiative in such a way as to anticipate and overcome objections. Finance finds comfort in consensus. If approached with a project that already has people from various departments working together to push it forward, finance is much more likely to join. Finance will need cost comparisons, asset lift management expectations, and expenses. Anticipating these questions means knowing the people in finance and how they communicate. Consider the wider audience When proposing a project to your business, the decision-makers are the primary audience. Often overlooked are the people who don't have the authority to approve a project yet affect how the project proposal is received. Considering these different perspectives and bringing them on board is crucial in making the business case for a project. Success is unlikely if a solution doesn't receive support from the engineering, facilities, and finance departments. This concept applies in other industries as well. In education, the sustainability officer doesn't typically have much money to spend or authority to leverage but is influential in the process. Being attuned to the broader audience will help gain the project's approval and its overall success. Resources & People Mentioned Duke Energy Sustainable Solutions com Connect With Our Guests Mark Adams - Business Development Manager Mark's experience with Duke Energy and Duke Energy Sustainable Solutions through his multiple roles has given him the opportunity to meet, listen and understand, through countless customer meetings across a wide spectrum of industries, the challenges and the ever-changing world they live and compete in daily. Through these meetings, he has learned that everyone has their own unique issues and challenges. His learned business development skills have given him the opportunity to work with diverse industries on many innovative projects. Mark is married to Samona for 35 years and has a 31-year-old married son named Landon. Mark is an avid golfer and loves working in his yard. Follow Mark Adams on LinkedIn Mike York - Strategic Account Manager Michael York has spent the majority of the past thirty years as an executive responsible for running operations with revenues between $275-$700M annually. During this period, he has managed capital budgets, and engineering staff and has successfully launched numerous service offerings. In addition to these responsibilities he has spoken at events such as Gartner Group conferences, North Carolina State University Executive Roundtable, Minority Economic Forum events and served on the Minority Competitiveness council under the US Department of commerce. He has authored the book Reset, numerous white papers and worked with the VA, Minority Entrepreneurial Council and Raleigh Rescue Mission. Mike is a graduate of the Strategic Leadership Institute at Villanova University, Adizas Institute and Murray State University. Currently, he works for Duke Energy Sustainable Solutions in the area of sales enablement to facilitate complex deals and build compelling business cases for business developers and customers. Follow Mike York on LinkedIn Wayne Johnson - Key Segment Manager for Education Wayne Johnson is key segment manager for the education segment at Duke Energy Sustainable Solutions and has a wealth of experience in energy innovation and solution finance. He also spent years as a facilities manager and energy executive in higher education. Wayne's out-of-the-box thinking helps him meet the challenges of energy infrastructure and asset management in education. Wayne designs energy solutions to help meet the needs of all project stakeholders, including facilities leaders, CFOs, presidents, heads of schools, faculty, staff, students and local communities. He uses his unique experience to help schools become more energy efficient, sustainable and viable for the future. Wayne has been invited to speak at conferences and universities across the country about finance innovation for campus energy and sustainability projects. He also works closely with Duke Energy's Emerging Technology organization to bring behind-the-meter innovation to campuses. Most recently, Wayne has been exploring the role of alternative fuels on campus via pilot project funding. Wayne enjoys international travel, time on the lake and hiking with his family. Wayne has worked as a licensed electrical and general contractor and is an alumnus of Mars Hill University and The University of South Carolina. His master's degree is in education administration. Follow Wayne Johnson on LinkedIn Connect With Smart Energy Decisions https://www.smartenergydecisions.com/ Follow them on Facebook Follow them on Twitter Follow them on LinkedIn Subscribe to Beyond The Meter onApple Podcasts, Spotify, Google Podcasts
Virtually all tech companies have expressed caution on their respective earnings calls. And why not… the macroeconomic environment is full of uncertainties and there's no upside to providing aggressive guidance when sellers punish even the slightest miss. Moreover, the spending data confirms the market is softening across the board, so it's becoming expected that CFOs will guide cautiously. But companies facing execution challenges can't hide behind the macro. Which is why it's important to understand which firms are best positioned to maintain momentum through the headwinds and come out the other side stronger. In this Breaking Analysis we'll do three things: 1) Share a high-level view of the spending squeeze almost all sectors are experiencing; 2) Highlight some of those companies that continue to show notably strong momentum – and relative high spending velocity on their platforms – albeit less robust than last year; and 3) give you a peek at how one senior technology leader in the financial sector sees the competitive dynamic between AWS, Snowflake and Databricks.
When Mike Taylor mentions the customer experience during our talk, his intent—unlike that of many of his CFOs peers—is not to boast of some vast reservoir of data from which customer insights are routinely being gleaned. Instead, he brings this up to let us know that there are some things that finance still struggles to see and measure. This is a startling admission from a finance leader who has already drawn our attention to his sharp lines of sight into the CFO role with the comment “Making certain that I am grounded in data is what has helped me to be a better CFO.” Still, Taylor seems to distance himself from this bit of data wisdom for the moment in order to make a broader point about the customer experience and financial analysis. Having served in several CFO roles over the past two decades, Taylor has a rich career portfolio from which to extract CFO lessons. Nevertheless, he quickly turns our attention to his nearly decade-long tenure at electric car manufacturer Tesla, where he held a number of senior finance positions, including vice president of finance and treasurer. It was during the early years of Tesla's groundbreaking Model S, Taylor recalls, that a financial analyst shared with him some analysis that revealed how a door handle modification could result in a per-car cost saving of hundreds of dollars. “In the car industry, you're looking to save quarters and dollars all through the bill of materials, so when you're talking hundreds of dollars, this is just a fantastic moment,” reports Taylor, who credits the analyst with providing the required analytical firepower to prompt Tesla's finance team to advocate for the adoption of “identical handles” for the Model S instead of the original ones, which had been designed individually with unique geometric shapes that were flush with each door. Taylor continues: “The idea got shot down, and we scratched our heads. So, I went and talked with some of the designers. They asked, ‘Mike, what's the first tangible experience that you have with a car?,' and I replied, ‘Well, you know, I see it and I walk up to it, and then I touch the door handle.'” Thus, Taylor adds, this exchange served up a lesson in product design and how it is often the unseen levers of customer impact that ultimately drive sales. “Your spreadsheets can tell you a whole lot about any business situation but focus first on what the customer impact of your product is,” observes Taylor, who also credits customer impact with having been the key determining factor in his original decision to join the car manufacturer. At the time, Taylor notes, Tesla had sold only a few hundred cars, sight unseen, at more than $100,000 per vehicle. “As part of my due diligence, I spent hours and hours on blogs and inside customer online forums,” he remembers. “I ended up thinking, ‘If this product has this type of customer passion, how can I not take this leap?'” –Jack Sweeney
Bilsay serves as Regional CFO (TIP Region) and Board Member at DöhlerGroup. DohlerGroup operates in more than 130 countries across all continents and offers fully integrated food and beverage solutions from concept to reality.Bilsay has over a decade of experience in M&A, Internal Auditing, Strategic Planning, Project Management, Business Development, Compliance Management, Process Reengineering and has a record of architecting financial strategies for maximizing growth & revenue backed by a CMA. Bilge is a highly analytical professional who assists international clients in the acquisition of other businesses. Create and implement systems to aid internal financial controls, as well as initiatives to improve financial operations.Bilsay is exceptional in finance/accounting policies and procedures, and has proven expertise in delivering international projects within defined cost, scope & timelines and has exceptional overall business acumen. Prior to DöhlerGroup, Bilsay worked as a CFO at Bunge, CFOO at Solera, Inc, and EMEA East Controller, Turkey Finance and Accounting Manager at Monsanto. Bilsay graduated with a degree in business and administration from Istanbul University and earned a master's in leadership development from Esade.Support the show
So you've managed to grow your small business into a thriving enterprise.First of all, congratulations!But with greater success comes more responsibilities, and it's becoming increasingly difficult for you to manage everything on your own. Perhaps you're feeling overwhelmed with all of your duties. Or your business is going through a big project or shift. Or maybe you're having trouble smoothening those wrinkles in your finances.That's where fractional CFO services can help.By bringing experienced financial expertise into your company, fractional CFOs can help you make smarter decisions to increase profitability and sustainability. And in the case of Community Credit Lab, fractional CFO services helped them in their acquisition process.In this solo Her CEO Journey episode, Christina shares the journey of one of their clients, Community Credit Lab. As a mission-driven CFO, Christina is passionate about helping clients succeed and amplify their impact. So she shares the reasons why Community Credit Lab had decided to enlist the help of a fractional CFO and the value you can get from them.If you're thinking about getting fractional CFO services but are unsure of the practical value they bring to your business, this episode is for you.3 reasons why you should listen to the full episode:Learn from the journey of Community Credit Lab.Understand how a fractional CFO streamlines acquisitions.Find out what you can accomplish when you work side by side with a fractional CFO aligned with your mission and values.Episode Highlights[01:33] About Community Credit Lab[03:15] Why They Enlisted Profit Reimagined's Fractional CFO Services[04:44] What Community Credit Lab Accomplished Through Our Partnership[07:31] Three Lessons You Can Learn From CCL's SuccessEnjoyed This Podcast?Write a review and share this with your friends.Connect With the Profit Reimagined TeamReady to transform your purpose into an impactful business financial story, profit, and joy? Schedule a chat with the Profit Reimagined team.
If you're keen to understand the 1031 exchange better, this episode will be a great in-depth discussion. Let our guest Scott Saunders help you and explain how it works in the real estate business and tips on making the most of it as a wealth-building tool. You could have the best investment strategy in this conversation so dive into this one!Key Takeaways to Listen forWhat is the 1031 exchange and its advantages for investorsTypes of assets where you can utilize 1031 exchange1031 exchange processes and timelineThe amount of deferred taxes on a 1031 exchangeHow to keep deferring taxes on capital gainsMistakes to avoid when doing a 1031 exchangeResources Mentioned in This EpisodeFree Apartment Syndication Due Diligence Checklist for Passive Investor About Scott SaundersScott R. Saunders is Senior Vice President with Asset Preservation, Inc. (API), a subsidiary of Stewart Information Services Corporation (NYSE: STC). Scott has an extensive background in IRC §1031 tax deferred exchanges, having been involved in overseeing and structuring over 100,000 §1031 exchanges during his thirty-four (34) years in the exchange industry. He is a former President and Board Member of the Federation of Exchange Accommodators (www.1031.org), the national §1031 exchange industry trade organization, and holds a Business Economics degree from the University of California at Santa Barbara. In addition, he has been a regular presenter of 8-hour C.L.E. and C.P.E. approved classes on advanced §1031 exchange issues to accountants, attorneys, commercial developers, and CFOs arranged by Lorman Education and the National Business Institute. Scott regularly provides webinars for continuing education credit on §1031 exchanges for many organizations, including CPAAcademy.org, the CPA Leadership Institute, and myCPE.com. In addition to being an accredited speaker in numerous states, Mr. Saunders was a contributing author to the book Real Estate Exchanges: Using the Tax Deferred Exchange in Real Estate Investment Management and has been featured in The Wall Street Journal, CNBC, Forbes Real Estate Investor and U.S. News and World Report. He has written over 200 articles on various aspects of §1031 exchanges, capital gain taxation, and investment real estate. His articles have been featured in many investment publications such as the New York Real Estate Journal, Mid Atlantic Real Estate Journal, Inman News, REBusiness Online, Heartland Real Estate Business, Western Real Estate Business, REALTORS® Land Institute Terra Firma, ALTA's Title News, HousingWire and many other real estate and other financial publications. Connect with ScottWebsite: Asset Preservation IncorporatedEmail: email@example.com Phone: 800-282-1031Connect With UsPlease visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!SponsorsGrow Your Show, LLCThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GrowYourShow.com and Schedule a call with Adam A. Adams.
Today's guest has been a visionary and early pioneer in the operational restructuring industry for recognizing the potential of bringing in "best practices" from other industries. He has been instrumental in increasing value for some of the largest private equity firms in the world as well as leading and implementing programs for major automotive OEMs and suppliers. Dave Bookbinder goes Behind The Numbers with Dan Ruskin, President at B. Riley Operations Management Services. In this episode, Dan shares his thoughts about the importance of changing the culture of an organization to change its trajectory, and why being “different” is so important in business. Dan also discusses the process of creating change, and much more! About the Host: Dave Bookbinder is the person that clients reach out to when they need to know what their most important assets are worth. He's also on a mission to change the conversation about how the accounting world recognizes the value of people's contributions to a business enterprise, and to quantify what every CEO on the planet claims: “Our people are this company's most valuable asset.” Dave is a Managing Director at B. Riley Advisory Services, where he works closely with business owners, CFOs, Controllers, and CEOs. Dave has conducted valuations of the securities and intangible assets of public and private companies for various purposes. Grab Dave's best-selling book: The New ROI: Return on Individuals Connect with Dave on LinkedIn Connect with Dave on FaceBook Follow Dave on Twitter Check out NewROI.com for more.
In this week's podcast available on the Thomson Reuters Institute podcast channel, we speak to Jeff Connor, Chief Financial Officer at McGuireWoods and co-chair of Thomson Reuters' upcoming 21st Annual COO/CFO Forum, about the tough questions that law firms may be facing in the coming months and years.
Many CFOs these days come from fields unrelated to finance and accounting. You may encounter former marketers, salespeople, and even psychologists or teachers. Their unconventional paths grab lots of attention, and people want to know how they succeed. After all, if it worked for them, it might work for you too. For that reason, we invited Amy Huerta, a former teacher who became the CFO at Amherst H. Wilder Foundation. In this episode of CFO Weekly, Amy joins Megan Weis to discuss the benefits and challenges of taking what could be considered an unconventional route to the role of the CFO. In this episode, we discuss: -Amy's path from teaching to finance -What is compassionate grit? -How to manage cross-functional teams effectively? Advice for future CFOs coming from unconventional backgrounds Presented by Personiv https://insights.personiv.com/cfo-weekly
You may be surprised to find out that many of our calls as CFOs for our clients consist of a lot of coaching around non-financial issues. We check in with our clients regularly and we hear about whatever it is that they are struggling with at the time. Recently, a client was struggling with balancing time and effort. They wanted to serve their clients, answer all the DMs, and do all the things, but they were overwhelmed and didn't know how to keep everybody happy. The discussion we had with this client inspired me to share what I've learned to help tackle this issue because I've been there myself and know how challenging it can be. * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat About This Episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * Hire us!: https://www.fitnancialsolutions.com/accounting * Find me on IG @shannonweinstein: https://www.instagram.com/shannonkweinstein * Catch me in-person on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ * Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
ServiceNow, the leading digital workflow company making the world work better for everyone, has announced the Now Platform Tokyo release, designed to help organisations navigate complex business challenges amid an uncertain macro environment. The ServiceNow Tokyo release is purpose-built to deliver better employee and customer experiences, supercharge automation and trust in operations, and accelerate value in ways that are good for people, good for the planet, and good for profits. According to the 2022 IDC CEO Survey1, 95% of CEOs see the need to adopt a digital-first strategy and the majority of organizations are down the path of executing their plans. The rationale for this focus is clear: Digital companies deliver twice the revenue growth of non-digital companies, according to Valoir Research2. The new digital-first, fully integrated workflow automation solutions in the Tokyo release increase the power of the Now Platform to create seamless experiences, continuously generate new value by accelerating innovation at scale, and allow people to do their best work. “Our ServiceNow Tokyo platform release gives customers exactly what they need in this moment—new solutions that deliver immediate value, are easy to implement and use, and help them do more with less,” said CJ Desai, chief operating officer at ServiceNow. “Now is not the time to experiment. A platform for digital business is the only way to create great experiences, drive new business value, and accelerate transformation so organisations can focus on growth in our digital-first world.” Accelerating value with purpose-built solutions With today's complex compliance and risk management landscape, customers have asked ServiceNow for solutions that make them more agile and resilient across their enterprise. ServiceNow is responding with new, purpose-built features in the Tokyo release that unlock more value from tech investments for CFOs, COOs, and sustainability teams—simplifying complex supply chains, automating asset management, and delivering auditable, investor-grade sustainability data. Enterprise Asset Management (EAM) automates the full lifecycle of physical business assets from planning to retirement for industries such as healthcare, financial services, retail, manufacturing, and public sector. The solution helps reduce costs, mitigate risks, and improve strategic planning with visibility into the entire enterprise asset estate. Additionally, it optimises inventory levels for the business and operates stockrooms efficiently to better leverage existing assets and maximise asset life. Supplier Lifecycle Management (SLM) empowers organisations to transform traditionally high-effort supplier engagements that live in email and spreadsheets into modern, digital experiences, enabling teams to reduce operating costs and refocus talent on building a more resilient, diverse, and high-quality supply base. With SLM, suppliers leverage self-service experiences to get help, deflecting common inquiries into the respective teams. Environmental, Social, and Governance (ESG) Management has been enhanced to allow companies to establish and document ESG goals and KPIs, track performance, collect and validate audit-ready data, and create disclosures that align with major ESG reporting frameworks, in a single end-to-end solution. Key capabilities include carbon accounting to calculate greenhouse gas (GHG) emissions, and an innovative user experience that helps companies efficiently meet increasing requests for ESG data. ServiceNow is collaborating with DXC Technology, Emissionsbox, Fujitsu, KPMG, LTI, Mindtree, NTT DATA Corporation and RSM US LLP, to extend ESG Management's reach and capabilities into the market. Boosting engagement and productivity with great experiences Now more than ever, employee retention is critical. Engaged, productive, and empowered employees contribute heavily to customer and business success. The Tokyo release helps organisations prioritise their most ...
“Just like you need to understand the business, you need to help them [the c-suite] understand the realities of marketing…” Mark is the CEO of Proof Analytics, a marketing analytics platform that helps CMOs and CFOs bridge the ROI gap by providing cause-and-effect analytics that shows marketing and sales true business impact and financial worth. The company's 'Proof Business GPS' guides through the whole marketing lifecycle, and provides a complete picture of a company's marketing efforts. Their solution enables planning, budgeting, and optimization of marketing in all channels. An award-winning B2B CMO and CCO, Mark is one of the first leaders to connect all types of marketing investments to revenue, margin, and cash flow impact in complex, long-cycle companies. Questions and topics we covered included: The story of how Mark built upon the Honeywell brand, in a sector within a slow sales-cycle industry (aerospace), How Mark approaches building marketing teams today (including how to pick out the right VP of Marketing/CMO), Why do investments in brand always get seen as wastes of money (by leadership) and how to fix that, How Mark defines the T-shaped marketer, What is the biggest enemy all CMOs will face in their career? Why forecasting is such an important skill for CMOs to know (so they can keep their jobs), Who should ultimately own attribution in a marketing team? How can marketers at all stages in their careers remain recession-proof? What is the OODA loop and why does it matter in data science? And more! You can say hello to Mark via LinkedIn: https://www.linkedin.com/in/markstouse Tweet to him at: https://twitter.com/markstouse --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
The Marketing crisis for small business and startups Beware of the trap of choosing efficiency over effectiveness Episode 113 (Gee is based in Strasbourg, France) In this conversation with Gee Ranasinha, we explore: Why marketing is broken and the resulting marketing crisis Appreciating the value of differentiation and danger of not How to recognize "the people who call themselves marketers" Why it starts and ends with how people feel Why you want to consider the amygdala in your marketing plans The real purpose of branding when connecting with your decisions About Gee Ranasinha: Founder and CEO of KEXINO, an award-winning start-up and small business marketing agency. Gee's background is in B2B marketing, small business marketing, branding, differentiation, and customer behavior. Gee's been in marketing since the days of dial-up modems. For seven years Gee was Worldwide Director of Marketing for a software company, working with clients such as IKEA, Marvel, Nestlé, Airbus, and Time Magazine. For the past 14 years he has been CEO of KEXINO, an award-winning marketing agency specializing in helping startups and small businesses around the world deploy next-generation marketing within - and across - their organizations. A Fellow of the Chartered Institute Of Marketing, Gee is also Visiting Professor at European business school IEF, teaching final-year MBA students on Marketing and Behavioral Economics. Connect with Gee and learn more at Kexino.com ----- Excerpts from this conversation with Gee Ranasinha: 01:59 It's quite simple, really, it goes to my history, way back when, for seven years, I was worldwide director of marketing for a software company, fairly large software company in Europe serving blue chip clients such as timing can IKEA, Nestle, Airbus Marvel people like that. And whenever I was invited, to have marketing agencies come in to pitch for our business, I was always amazed at how little notice they took towards any fiduciary responsibility for the marketing plans that they proposed. And at the same time, this is back in 2007 or so the thing called the internet was beginning to affect our daily lives. I don't know George, maybe you've heard of it, this thing called the internet. 02:51 It was, it was the big brands who were the ones taking advantage of the potential of the internet because they had greater technical experience. And obviously, deeper pockets. And small businesses and startups are getting left behind. And so I figured that there was an opportunity for a marketing agency resource, specifically aimed at helping small businesses and startups that could help them leverage the power of online engagement and the evolution of customer buying processes. And so that's why in January 2008, I resigned my comfortable corporate position, with all its trappings and international travel and company cars and expense accounts, and all that sort of stuff. And we launched our marketing agency. ----- 12:51 So firstly, I think marketing is in crisis, because it is ideologically disliked, in the higher tiers of business. Okay. And secondly, I mean, I'll expand upon this in a minute. Secondly, I think marketing is in crisis, because much of the work conducted by people who call themselves marketers, notice I didn't call the marketers I said people who call themselves marketers is only a tiny bit of what marketing is actually about. 13:26 And what the people who call themselves marketers are actually doing is communications is promotion. 13:38 Which if we go back to the four P's of marketing is you know, only 25% of what marketing is. And so, as a result of just focusing on comms and communications and messaging, marketing has been relegated to a sales support function. Right. And within so many organizations, the marketing function is seen as, producing brochures, updating the website, getting some tote bags made, getting some stress balls printed, and at the other end, marketing is being used as an automation tool to automate lead generation and advertising. But it's delivering substandard and increasingly ineffectual results. So what do I mean that CEOs have a dislike to marketing? 14:36 I think they have an inherent distrust in marketing because it goes against the way they think, CEOs and CFOs, accountants, numbers-people, that they look at other areas of the business. And those areas are very pragmatic and they're very, they're based on rationality. They're based on sequential thought. ----- Businesses are looking to create a, a data driven repeatable process, but one that's devoid of creativity, salience, or resonance, and then they wonder why their marketing doesn't work. ----- It needs to have in in my opinion, it needs to have somebody who understands a customer. There are far too many conversations that I have with business owners with people who call themselves marketers who haven't spoken to a customer in the past six weeks. Now to me that tantamount to a dereliction of duty, ----- The book he mentioned, Thinking, Fast and Slow by Daniel Kahneman. ----more---- Your Intended Message is the podcast about how you can boost your career and business success by improving your communication skills. We'll examine the aspects of how we communicate one-to-one, one to few and one to many – plus that important conversation, one to self. In these interviews we will explore presentation skills, public speaking, conversation, persuasion, negotiation, sales conversations, marketing, team meetings, social media, branding, self talk and more. Your host is George Torok George is a specialist in executive communication skills. That includes conversation and presentation. He's fascinated by way we communicate and influence behaviors. He delivers training and coaching programs to help leaders and promising professionals deliver the intended message for greater success. Connect with George www.SpeechCoachforExecutives.com https://www.linkedin.com/in/georgetorokpresentations/ https://www.youtube.com/user/presentationskills https://www.instagram.com/georgetorok/ For weekly tips to improve your presentations visit https://toroktips.com/
Deborah always knew thought she would be a nun. While not officially becoming a nun she has helped and continues to help people. After listening to this podcast, I think you'll agree she impacted the world in much the same way as a nun. Hailing from Lafayette, Louisiana, the heart of Cajun country, Deborah LeBlanc is a Certified Master Clinical Hypnotherapist, a Master NLP Practitioner, a Therapeutic Imagery Master and a Certified MER Practitioner. She has helped hundreds of individuals break free from debilitating, limited beliefs, which allowed them to experience success, joy and realize fuller and happier lives. She also works with corporations, training CEOs, CFOs, Managers and Sales staffs using ground-breaking processes along with group hypnosis, so they'll experience massive increases in profitable revenue and growth. Deborah is also an award-winning, best-selling author of 16 novels and a licensed death scene investigator, a private investigator and has been a paranormal investigator for over twenty-seven years. She is currently the house clairsendium for the upcoming paranormal television show, Through the Veil, and was recently featured in one of MTV's latest programs, Are You the One? Deborah's passion, enthusiasm and motivating style has awarded her the opportunity to speak at conferences and hold workshops around the world. She also founded Literacy Inc., a non-profit organization dedicated to fighting illiteracy in America's teens. Unquestionably, wherever Deborah goes, she travels to deliver one basic message—a message of hope…then commits to turning that hope into reality. https://mindpaththerapies.com/ https://deborahleblanc.com/
Financial management can make or break a business. Any business undertaking attempted without taking cost drivers, growth prospects, and value realization goals, among other critical factors, into account is leaving a big, wide door open to problems.Jack Boyles, Managing Director at Marcum LLP, understands this perfectly well. With his extensive experience in financial planning and modeling, valuations, and funding strategies, Jack keeps a trained eye on both the micro and macro factors that influence today's rapidly evolving financial services sector.In this episode of The Modern CFO, Jack talks with host Andrew Seski about critical factors to consider for growing companies, how he deals with the unexpected, and the valuable lessons he learned over his 25-year-long career as founder, investor, and CFO of several companies.Show Links Check out Marcum LLP Connect with Jack Boyles on LinkedIn or via email Check out Nth Round Connect with Andrew Seski on LinkedIn TranscriptPlease note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only.[00:00:00] Andrew Seski: Hello everyone and welcome back to The Modern CFO podcast. As always, I'm your host, Andrew Seski. Today, we're joined by Jack Boyles. Jack, thank you so much for being here. [00:00:19] Jack Boyles: Thank you. I'm looking forward to our conversation. I reviewed a number of your other podcasts. They're all great and I learned something in each one.[00:00:25] Andrew Seski: So today, Jack serves as CFO at Marcum. Jack's based in Boston and has been a CFO across a number of industries and is insatiable when it comes to learning new things, trying new industries. [00:00:38] But one of the things that we've been talking about, maybe ad nauseam, but between us is the idea that maybe there is a certain time and place where CFOs can have their biggest impact at, you know, either a type of financing, an industry, and maybe CFOs shouldn't necessarily grow across all stages and all different types of industries. Maybe they should be specialized and maybe there is a time and place for that CFO who can drive the most value. [00:01:05] So this is a topic I really want to dive into and really dig our teeth into because Jack has such a unique vantage point, serving his entire career really honing in on this idea. So Jack, I got to turn it over to you to tease out some of the value and insights here on sort of that topic and whatever else we can foray into across all of the experiences you had as a CFO.[00:01:26] Jack Boyles: Thanks for the great introduction. Yeah, I'm not CFO of Marcum — number one. Marcum has a group of consulting CFOs and so I now work with roughly a half-dozen small and medium-sized companies as a fractional CFO. Prior to that, I've been CFO of a number of companies in which I was founder, investor, angel, and always had a CFO title in a wide variety of verticals — distribution and logistics, software manufacturing, IT services, natural resources. [00:01:57] And right now my portfolio includes a SaaS company — a company working on carbon credits with blockchain — and another marketplace for health services. So, you know, it's a pretty broad spectrum and I've enjoyed it because there has been a number of learning opportunities. [00:02:14] But returning to your theme, I found I'm really good at the five million to 50 million-dollar service orientation companies. And I've realized that that's where I can add the most value. I'm not somebody who can take a company public, although I've sold a number of companies to Fortune 500 companies. But it's really recognizing there are different skill sets for those by both vertical and by size of company, if you will, the capital intensity and sort of the economic structure underlying the business.[00:02:45] So I can break down those and, you know, they're all interesting problems, but it's really a different skill set for each one of them. And you need to manage differently as that, you know, financially-oriented team member. [00:02:58] Andrew Seski: In terms of where some of this interest comes from from my end is the fundraising environment over the last few years dramatically changing in the last few months. So what may have been, you know, a company doing five to 10 million then that could have been valued, and maybe in the software land, maybe even at a hundred X multiples at one point, just an absolute crazy valuation and fundraising environment to, you know, a very, very immediate, almost shift in going from, you know, pure growth orientation to conservative cost cutting, you know, headcount reduction. And I think the question there stems not only just from where the CFO can be the most valuable in their niche and their competency, but also how to weather the volatility of different market cycles. [00:03:42] And there are a lot of variables to play with here so I really like your answer that the CFO can be really valuable by identifying their impact in a niche due to all of the other market environments and volatility in the markets that could, you know, shift strategy and financial strategies that a company may pursue.[00:03:58] Jack Boyles: Well, you're shining a spotlight on, you know, certainly what is the most critical thing for growing companies, which is, do they have access to capital? And is it the right capital on the right terms and in the right timing? You know, obviously, you progress from family and friends to seed rounds, to Series A and up. [00:04:17] But it's really more important, or the starting point for that analysis is really, what's driving the need for cash? Is it building your organization? Is it financing working capital? Is it plant and equipment expansion? Is it building relationships that you need to invest in? So really understanding from a, what I would call a fairly granular level, what are the cost and capital drivers in your business and really internalizing that, that economic, that, you know, the calculus of the business, because that's gonna tell you what kind of capital you need and where to go knocking on the door. It's seldom the case that you're gonna be the first guy knocking on that door, but making sure that they understand your economic model is critical.[00:04:59] And so to narrow your field down on who you're focusing on and what you're offering and making sure, I mean, whether you look at PitchBook or anything else, it's fairly easy to qualify those people and what their investment criteria are. Most firms are very upfront about what they invest in and there's nothing wrong with reaching. But there's also economy and wisdom and finding people who've done your deal before with like competitors because they understand it. They get it. Whether you consider that investor a bank or a venture capital or a family office, find people who have done it before. They're gonna bring more knowledge to the deal — in the one they do because they are always seeking to be better. Their due diligence will be a lot more efficient and helpful to you.[00:05:43] Andrew Seski: So I want to dive into something that comes up on most podcasts. When we talk about people's route to CFO roles, there's a very traditional background of accounting courses throughout undergrad and maybe a consulting job or a Big Four role. We've had a mix between a very traditional and maybe some nontraditional of serving in the Navy. And I want to go back in time to Dartmouth undergrad and leaving school. What was your, some of those first roles? Did you have sort of a traditional background? Because I want to then kind of hit on all the successes you've had because you have a pretty incredible track record as well. [00:06:19] Jack Boyles: Not at all. I got an MBA at Dartmouth and I was something of a quant jock having a mathematics degree and liking computers, which was kind of a new thing then. And, you know, took all the accounting courses. And when I got close to what the careers looked like with the Big Eight — and there were eight at that time — versus the other things that were out there, I chose consulting. [00:06:41] I joined a firm, Temple, Barker & Sloan, in Boston, worked with them for years. And candidly, they liked me because I spoke business and I could write Fortran. Those were the qualifications. And so I ended up doing most of the financial modeling on a broad range of projects and really, you know, got to be known as something of a guru in figuring out the economics in how to simplify them to the important details. I mean, that's an important notion. [00:07:07] Getting a level of detail right is sometimes the hardest thing to do right in making a projection. Too detailed — you can't maintain it, change it, and it's not useful as a policymaking tool. Too macro — it's not informing you on what the really important relationships are between the resources and their results in a business.[00:07:28] I did that for a number of years, worked across telecommunications, oil and gas, resource recovery, some consumer products, and then got tired of working for big companies because, you know, you were kind of siloed. And so when I looked over my years in consulting, the fun companies were all small and growing. That made the choice easy. So I went off on my own and one after another, you know, lived out that dream. [00:07:53] Andrew Seski: So you've mentioned early on that you are really passionate about continuous learning. And I think you probably identified consulting as one of those ways to be very, very oriented to try to be a value adder early on in your career but also across a lot of different industries so that you can continue to learn. It's very clear that you maintain that theme by being able to have a similar job title across all of these different types of firms.[00:08:18] But how are you thinking about that in terms of some of the risk profile of — I think there are a lot of CFOs who have probably fairly, just a pretty well-defined risk adversity — but going from big consulting shop to smaller firms to deploy some of that knowledge, did that phase you at all or were you pretty comfortable in those positions? [00:08:37] Jack Boyles: My wife didn't ask a lot of questions about what I was doing. So honestly, I was blessed with somebody who was very supportive and understanding and had confidence that I could make it work, whatever I chose to do. And she's, you know, she's been half-right.[00:08:52] Andrew Seski: Well, let's start talking about some of the consistent themes across these CFO roles because you do have a lot of experience in successful exits. Like I mentioned, your track record is incredible. So I want to dive into some of the themes and valuable lessons that we can share to the network of CFOs and listeners today.[00:09:11] And maybe it starts with the kind of continuous learning aspect of always trying to drive forward continuous learning. Maybe it's the definition of what a modern CFO is across being somebody who's really proficient in understanding and measuring the value of technology versus maybe opportunity cost. So were there any things that stood out really early in your career that were cemented later across some of the more successful exits that you've had?[00:09:40] Jack Boyles: I think one of the most important things to do is not overestimate your team's understanding of what the CFO is really supposed to do. And I think it's really helpful when engaging, you know, with a new team to lay out, you know, your assessment of what the roadmap is and what the principle projects are, the priorities, timing, and resource required for them. [00:10:02] Above all, we have to be good project managers. Yes, we have to have the financial disciplines and understand how to put financial statements together and make intelligent decisions about IT, infrastructure, and risk mitigation, and so forth. But really laying out that roadmap for your team members and really saying, "These are the things I own," "These are the things I need your support with." And don't assume that they really understand what the role is and how integrating it needs to be in how the business develops. [00:10:33] You know, the CFO should really take responsibility for building the infrastructure to support the vision of the people who are creating the products and services and the technologists in this day and age that are driving it forward. But to really confirm their understanding of your role, the need for detail, the need to measure what they're doing and provide regular feedback in particular that monitors their progress against their objectives. So to me, that's a lesson I learned over and over again and every time I skip it, it's like, how did I miss that? It's just, I thought I had learned that lesson the last time. And that's critical whether it's, you know, regardless of what industry you're in. [00:11:12] You mentioned the other thing about the thing that keeps me motivated. You know, one of the things that happens at business school and when you're a math major is you acquire all these analytical techniques and tools. You know, I'm really in the business of, you know, old tools for new problems. And so when somebody talks to me about security policy — huge issue for most companies today in the security, you know, whether it's compliance with GDPR or SOX to any of those issues — you know, you don't hear anybody talking about applying Bayesian analysis to that, which is, we all know the technique, but use that framework to structure the decision, to add quantitative data and substance where you can, but also understand, you know, what you're not gonna know and is undiscoverable and be able to make decisions. [00:11:59] You know, the role of a CFO if they're effective with not only the preparation of financials but can adapt that data to the decision making that's in front of them — that's critical. That's a valuable, valuable partner in your decision-making process. Not that they don't get a vote — they do and should have a vote — but the reality is making sure we've chosen the right analytical framework and context for the problem, understand what we know, what we don't know, what's worth researching, and how much time and resources are we willing to spend to improve the decision. Critical thing. And it cuts through a lot of the maxims you hear from one CFEO or, you know, one entrepreneur or the other, speed is everything in one case, fail fast. You hear all these things, but putting it in structure and putting numbers to it really helps you apply those lessons in a very focused and constructive way.[00:12:54] Andrew Seski: I want to continue to talk about this just for a moment because we've had now the pandemic. It looks like we already have a looming recession. When we talk about constructing sort of traditional models with a little bit of leeway and communicating out, you know, exactly what the role of the CFO is, how do you create and think, or how do you personally think about how to create some sort of, you know, configurability around circumstances changing and some sort of flexibility in terms of, you know, creating the models that would be able to handle, you know, some of the maybe more unforeseen types of events that we've had in the last few years?[00:13:29] Jack Boyles: Oh. [00:13:30] Andrew Seski: It's a complex question. [00:13:32] Jack Boyles: Well, I mean, you know, there's great literature on that over the past 10 years, starting with The Black Swan and the work of The Undoing Project, which is about people, you know, two psychologists won the Nobel Prize in economy and economics for really undoing capital markets theory, is what they did, and sort of challenge some of the basics of, you know, thinking fast and thinking slow, which is Daniel Kahneman's famous book. [00:13:59] Andrew Seski: Is Undoing, is that a Michael Lewis? [00:14:01] Jack Boyles: Yes. The Undoing Project is the story of Kahneman and his partner that led to the Nobel Prize. Kahneman, you know, his partner died in this research, but Kahneman continues to write and is still very influential about thinking about how decisions are made and what we, what we just assume and make decisions on every day, which needs to be tested, which is sort of at the root of these unforeseen things that nobody saw coming. [00:14:29] I'll segue back to something I raised earlier: security issues today. You know, when you ask Amazon and you've moved all your stuff to their cloud services, you know, what are you gonna do to make sure we never fail? And they say, you're making an assumption that we're not gonna fail sometime. Assume that the network's gonna go down at some point. That's a real risk. How are you gonna handle it? We can't provide that guarantee. I think about risk in that way, which is I really do carefully consider obsolescence risk of products and services. That's particularly relevant today given the pace of technological innovation and disruption going on. [00:15:05] I think, you know, we have to think very carefully in most businesses. The current clients that I have are not really geared in doing flexible planning regarding the likely wage expectations of, you know, anybody they're hiring. You know, it's not just the commission you pay a recruiter. It's the fact that the basic wages are gonna be 10% higher. So really working through at a fairly, you know, a mid-granular level, which is wages, resources, regulation can change and fundamentally alter the nature of competition in your vertical competitors themselves as well as new products and services. And I think you just have to be structured about that and really be honest. [00:15:47] People wave a hand at it by saying we've got very strong customer relationships. Well, yeah, maybe you do. I can look back and see what the recurring revenue is per customer and I'm not sure what that tells me, you know, given the threats to their business, the threats of competitors, you know, this is a free market capital society. They're gonna earn money for their shareholders and do what they think is right for them. You really have to be very circumspect about placing too much reliance on those strong customer relationships that you've had forever and even the legal contracts underneath them. I tend to be a skeptic when it comes to that.[00:16:26] Andrew Seski: Right. Having a really, really specific understanding of stakeholders, you know, not just your stakeholders but their stakeholders and, you know, whether that's their investors, the shareholders, employee owners, you know, the things that affect their businesses and your clients' businesses as well.[00:16:40] Jack Boyles: Everybody at the table.[00:16:42] Andrew Seski: Everyone at the table.[00:16:43] Jack Boyles: Everybody at the table has alternatives and it's important to understand that you can't, you know, neglect any of them and because whether it's your circumstances or their circumstances that changes dramatically, you both have to re-examine the relationship and be prepared for it.[00:16:59] Andrew Seski: One of the things we were talking about just before we started recording were some big shifts that have taken place in terms of where financial data is stored, maybe the, like sort of the future of the CFO role. And I want to touch on some of that because I think it'll reframe some of the conversation into what we can think about in terms of strategic planning in the next three to five years or even zooming out further with more innovative technologies. You mentioned you had a blockchain company that you're working with doing carbon credit so you're hitting two major themes that, even in the news right now around climate change and government funding, some new climate initiatives.[00:17:35] So I want to zoom out a little bit and talk about some of the macro things that have happened in terms of where technology and financial services have intersected, especially in the role of the CFO. [00:17:45] Jack Boyles: My perspective is if you look back over 50 years, there have been three or four major events that wholly changed the way finance was supported within companies, starting with the creation of ADP. When Frank Wattenberg created that company back in the sixties, nobody dreamed that you'd ever have the confidence to outsource the most confidential data you had, which is the compensation of your employees. You know, 10 years later, you were considered inefficient and backwards if you weren't using an outsourcer to manage the payroll processing problem. They did it better. They did it more competently. They were well-equipped to keep pace with a compliance requirements that constantly changed. Looking back, it was like, why didn't we do that earlier? [00:18:29] A couple years later, we moved from big, secure IBM mainframes to running our financials on little local area networks everywhere that rolled up. It was a revolution from having to have a mini computer, a mainframe to process your financial data or, worse yet, do a lot of it manually. That happened, you know, overnight. We all changed again with the year 2000 worries and upgraded all of our technology. [00:18:58] The last thing that happened was the move to the cloud. In 2015, I remember talking to financial partners about, you know, was anybody else contemplating moving their accounting onto these crazy platforms, NetSuite and Intacct? Not a one. I talked to a dozen companies. Not a one. Three years later, they were behind the eight ball if they weren't in that project. And now you have to have a very stable, very small business if you haven't moved your financials to the cloud, whether it's on Oracle or SAP or Intacct or NetSuite or QuickBooks Online. [00:19:34] And I predict the next, you know, role to change is the CFO. I think that the reality is the breadth of skills that a CFO had to bring 20 years ago is irrelevant today, largely. You know, the person you want in that role has great familiarity with the vertical, has great familiarity and comfort with the size of company — how many people, what's the size of the management team. You work entirely different if you're in a C-suite of a Fortune 500 than if you're one of three people running a 50-million-dollar company and you have very intimate and intense relationships with the other members of that C-suite. [00:20:13] So I think that's going to change and you're going to find, you know, CFOs, particularly for growing companies, change more often. Somebody who's really good from startup to 10 million. Somebody else has a different skillset from 10 to a hundred million, and you need somebody else for the IPO. They're different skillsets. You know, the lower you go, the broader range of skills you have to marshal and more hats you have to wear as you go up the chain, you become more of a manager and in public relations role. [00:20:46] So within the sectors that I serve, I find that it's as important for me to be able to source critical services, whether it's in IT, professional services, legal accounting, insurance, or other specialty services, whether it's R&D tax credits, 401(k) advisory work, issues of that nature. So I'm, you know, a third sourcing agent for all the professional services, a third, you know, controller, whatever accounting hat I have to wear. And third really business planner partner to the other executives. [00:21:20] Andrew Seski: So that's really helpful in terms of contextualizing all of the dynamic requirements of the CFO today. And I think it's really helpful to look backwards before looking forward. One of the things I want to segue slightly into — maybe it's more consistent or maybe it's even changing now because of everything that is more standardized and in the cloud — but I want to talk about liquidity and exits and relationship with CEOs. [00:21:45] You've had a number of exits and I'm trying to decide if I have an opinion whether or not transactions will always be complicated. You're always gonna need to bring all of the stakeholders we've mentioned into the same room to hash through details and figure out what's best for buyers and sellers. And while there might be some standardization, there's still a ton of human-level emotion behind, you know, exits. [00:22:09] So I want to know if there's been any sort of intersection between the efficiency of due diligence and exit planning. Has technology influenced all of that or is it still highly manual? A little emotional as always in building great companies and maybe having an exit, but it'd be a fun thing to think through and talk about because it's been a hard few years. I think the number of transactions that happened in the last few years have probably been off the charts. In the early 2020, I think 2020, there was record number of IPOs, first half of the year. So just thinking through that, I would love to hear either stories or lessons learned or, you know, your perspective on whether or not you think technology's gonna impact liquidity and exits. [00:22:50] Jack Boyles: Well, I think two things. In terms of the mechanics of it, you know, the progress in deal rooms and standard terms and analytical tools to look and value companies is extraordinary today. The tools at our disposal to do financial analysis have never been better. I think the hidden value of the technology isn't just the deal room and the ability to communicate better. I think you also find that people who've done a number of transactions are starting to put more and more emphasis on what are the fundamental infrastructure systems that are in place. [00:23:25] If I'm buying a company that's using the same systems I do, hallelujah. My transaction implementation cost have been cut by two-thirds. I'm not retraining their staff. I'm not reinventing the wheel. I'm doing some data cleanup at consolidation. So if you're a small company or mid-size company with a view towards being bought or buying others, choosing an industry standard platform for your ERP is critical, you know, that's not customized. It greatly simplifies and ensures the success of a transaction because it means you spend, you know, two months integrating operations rather than a year. Time is of the essence in these transactions. [00:24:07] And I think we're gonna go into a phase, particularly with, if we are in fact in recession and are likely to see a number of quarters and the capital pools are gonna dry up or be constraints fundamental, I think you're gonna see a wave of consolidations among these companies and that's gonna be their choice, either sell their IP and their customer lists if they're just technologists or go out of business because I don't think the subsequent rounds that were readily available two years ago are gonna be coming as quick or be as favorable in terms of valuations. [00:24:40] So when you look at the, you know, how the worm's turning, I would urge mid-size companies, who are revenue, you know, have profitability, positive cash flow, to really think about who are the comparable and natural acquirers for them. Chances are those companies, if they need to exit or thinking about it, they probably know who their acquirer is. And I would in some cases that, you know, urge them to have those conversations before they engage in investment banker because we're all looking at the same two-year outlook, which is highly uncertain in terms of both economic environment, as well as the availability of capital. And I'd plan for that. [00:25:20] In most cases, you know, companies that are consolidating in some form, they already know who the players are. And they know, and they're very thoughtful and intentional about what they're gonna look like to facilitate that and remove obstacles to combinations. [00:25:35] Andrew Seski: So just thinking from an investor's standpoint and from a founder's standpoint, I think in the next three to five years, there's kind of a double-edged sword here. I think on one hand, there's some excitement around if there is a downturn and money is being spent more strategically and maybe a little less out of fear of missing out on opportunities than there is that shakeup where really there could be some market dominators, if they can survive a downturn and really capture a big part of the market share in their industries.[00:26:07] So I think that is somewhat exciting to see the shakeup. It's probably nerve-racking as well for both investors and founders in the same vein. But I was gonna ask if you were really excited about anything on that kind of time horizon. I know we just mentioned the next two years feel very uncertain. But just from all these different perspectives, I was thinking it might be unique to hear what you might be excited about in the next three to five.[00:26:30] Jack Boyles: Personally, I think, you know, the whole promise of blockchain technology, in particular smart contracts, is really going to change finance in very fundamental ways that most people don't grasp yet. When I consider simple things that we had, you know, trade finance, importing goods from another country where it used to be a long, drawn-out procedure with very strict guidelines for the documentation and a very globally revered process for clearing payments and managing the transport of goods. That's a blockchain transaction. That's a smart contract today and it's collapsing.[00:27:05] Well, you know, that's, those same technologies are gonna influence lots of things in the finance world. And so I honestly see financial organizations changing dramatically. So individually as somebody who's working with small companies as a finance guy, I find that very exciting to anticipate those changes because it'll be as important as outsourcing payroll and moving your financials to the cloud and fractionalizing your CFO. It's really gonna change the way things work. [00:27:34] And the, to me, the biggest question is, it's not "if," it's "when." Is it, it could be two years. It could be five years. It could be seven. I'm not smart enough to know what the obstacles to adoption are. Oh, maybe I do. Yeah, I'm guessing it'll be government.[00:27:48] Andrew Seski: Well, I think there are a ton of regulatory pushes being made like, as we speak, basically. But I'm glad to see that a lot of the blockchain applications that are catching some traction are around decentralized finance. It's a really hard problem to solve. But there are a lot of people trying to put certain blockchain applications out there where it's sort of a square peg in a round hole. It's a more natural fit, I think, in a lot of the legalese of smart contracts being digitized. So I'm also looking forward to that. [00:28:17] I always ask whether or not you feel something is, you know, maybe undervalued or underestimated in the world from your vantage point. I know we've touched on a lot of big themes across innovative technology, across the changing role of the CFO. But just wanted to give you the opportunity if you wanted to take the conversation in really any direction where you just feel that people may not fully appreciate something that's more clear to you given all of your industry experience. [00:28:45] Jack Boyles: This is hard for somebody who's a numbers guy to say, but the proper functioning of teams is more important than I ever wanted to admit, you know, as I chose to be a math major and then went, you know, focused on quantitative things in my consulting career. And I think COVID and virtualization of so many organizations, I think there'll be another library filled with the books consultants write in three to five years about what separates those companies that did that well and knew how to bring back and re-engage their workforce. [00:29:18] The successful company that, you know, that we write about five years from now is not the one that said, well, you know, starting 2023, you've gotta spend two days a week in the office. They're gonna be a lot more sensitive to it. They're gonna be a lot more, they'll learn a lot more from how the teams functioned during COVID and immediately thereafter and they'll figure it out. And that's gonna separate the real winners and the teams that have, you know, long-term, excess profitability, and market valuations, and all of those other good things from the rest. Because once you can do that, you're accessing a global workforce, which means you can, you know, do a much better job optimizing, you know, targeted recruiting at the best cost. You'll find centers of excellence and be able to tap into them much more rapidly than a firm that's constrained and tied into some old HR, you know, notions of how this should work. [00:30:11] So I can't predict who those companies are, but that's what I'm watching very carefully. What are the innovative companies doing when it comes to how they manage their workforce, how they reward their workforce now that we've broken the model that says you show up in the same place every day. [00:30:27] And you know, certain industries are, certain companies, those that process medical claims, for example, have led in sort of, well, we don't have to do this in New York City; we can do it in Upstate New York. Or, you know, there are lots of examples of people that have taken a function and done it well, but it tends to be a very routine function and it tends to be easily supported remotely.[00:30:50] You know, the last two years gave us an opportunity to blow everything up and try new models. As somebody who's enjoyed a business career and continues to enjoy seeing what's coming, I'm really looking forward to seeing who the winners are in that race. [00:31:04] Andrew Seski: Yeah, absolutely. I was curious if you, I know you've been somebody over the course of your career who's continuously pushing the envelope on trying to find whatever is on the horizon. I'm curious as to if there are any unique sources that you look to. I mean, I've mentioned on other podcasts, I still get a physical Wall Street Journal. I'm very careful on how I curate social media and how I get news. And it's, you can just so easily be bombarded. I'm curious as to how you curate what you receive or if there are any kind of unique ways that you go seek out information or book recommendations. [00:31:38] And I only ask because Nth Round just launched a newsfeed because we are the same way. Everyone on our team has such unique access to really different types of news and we consolidate it and try to, you know, just showcase what we're thinking about that we think is interesting. It's always kind of a really unique niche between finance, technology, regulation, but it's important to us. And it's just a really interesting mix of news. So I'm just kind of curious as to, you know, as you look to your next revolution of Web3 and blockchain and everything that's happening in the world of technology and finance and regulation, kind of how you're sifting through, you know, the huge amount of content.[00:32:16] Jack Boyles: You know, honestly, we're drinking from a fire hydrant right now.[00:32:20] Andrew Seski: Absolutely. [00:32:21] Jack Boyles: I mean, just, you know, there's so much new technology and I've never prided myself as someone who can create technology. But I've always thought I was pretty good at seeing its applications and where I could really have a role. So having said that, you know, I do scan, I love to listen to a16z podcast. They always seem to be ahead of the curve in terms of identifying a technology and sort of what the fundamental economics are that are gonna, you know, lead to mass adoption. So I find that to be a great source of ideas in thinking about what's coming next. [00:32:54] Myself, I tend to go to raw data. Who is the ex-CEO of Microsoft, not Bill Gates' successor. Who's created a, you know, an American facts database. So I'll open the phone book, essentially, of facts — the Census Bureau, the tax rolls, you know, Bureau of Labor and Statistics — and look at something that may, you know, based on the idea that there's a new technology, say, well, if this applies to plumbers, how many plumbers are there in the world? You know, where are they, what do they do? Really understanding, sort of not trying to solve a global, you know, moonshot problem, but is there a problem everybody has in their household every day that this widget, this service might address? [00:33:37] To me, I am a low-hanging fruit guy. So if there's a problem that says, you know, there was really a better mouse trap, I'd be all over it because I can estimate how many mice there are and think about the problems of addressing that problem. So that's kind of how I think about things. [00:33:54] I do have an example. I ran into a company that was doing field service in electronic repairs. I looked at it and said, well, there's 300 or 400 companies you have to maintain relationships with for warranties. And there's four to 5,000 of you guys across the nation. And there's only one national player? That doesn't seem right. There's an arbitrage. There's a roll up here. [00:34:14] So to me, that was an interesting problem. I worked on it. We merged a couple companies, interesting things. But I'll look at the existing situation in an industry. I think I'm pretty good at looking at the macro forces of how an industry works, how a business works, see where there's a real arbitrage and next opportunity to exploit, you know, not trying to reinvent the wheel, but make it work better, consolidate where possible. [00:34:40] Andrew Seski: Well, stay on after the recording. I've got a very funny story. I'll have to confirm, but I believe it's told on the podcast, it's a Steve Ballmer story about early Microsoft days. But one of our podcast guests had to report to Ballmer and got some very implicit advice in his early career about efficiency and modeling, you know, assumptions after data. So we'll talk about that as we wrap up. [00:35:03] But how would you recommend people get in touch if they'd like to talk to you about any of these concepts that we've covered today or get in touch with Marcum about maybe utilizing some of the services that you're currently serving? [00:35:16] Jack Boyles: The easiest thing. I'm on LinkedIn and very visible, Jack Boyles. There aren't that many of them. So you should be able to find me. There's also a jack.boyles@marcumllp and msn.com as well. So, happy to take all calls and look forward to chatting with anybody who found this an interesting conversation. [00:35:34] Andrew Seski: Excellent. Well, thank you so much for joining The Modern CFO podcast. And I hope to talk again soon.[00:35:38] Jack Boyles: Great. Thanks, Andrew. Take care.
In many organizations, the CFO's responsibility in overseeing company funds puts them in control of signing off on risks, including how data is handled. CFOs end up playing a specific role in helping their organization prepare for the inevitable risk of a cyber-attack. PKWARE CFO Matt Zomboracz joins host Spencer Kupferman to discuss his experience in protecting sensitive data during his career in finance, as well as what CFOs need to know about data breaches.
The role of the Chief Financial Officer has certain unique aspects when the organization is considered to be a “micro-cap” company. Today's guest is here to share his experiences and insights as a micro-cap CFO. Dave Bookbinder goes Behind The Numbers with Mike Kandell, Chief Financial Officer at Wireless Telecom Group. In this episode, Mike shares his journey to the CFO role and the additional responsibilities he's assumed along the way. Mike also discusses acquisitions and divestitures as well as the importance of cybersecurity. A micro-cap is a publicly-traded company in the U.S. that has a market capitalization between approximately $50 million and $300 million. About the Host: Dave Bookbinder is the person that clients reach out to when they need to know what their most important assets are worth. He's also on a mission to change the conversation about how the accounting world recognizes the value of people's contributions to a business enterprise, and to quantify what every CEO on the planet claims: “Our people are this company's most valuable asset.” Dave is a Managing Director at B. Riley Advisory Services, where he works closely with business owners, CFOs, Controllers, and CEOs. Dave has conducted valuations of the securities and intangible assets of public and private companies for various purposes. Grab Dave's best-selling book: The New ROI: Return on Individuals Connect with Dave on LinkedIn Connect with Dave on FaceBook Follow Dave on Twitter Check out NewROI.com for more.
What are the spending priorities of healthcare CFOs? Two new surveys give us some clues. We followed them on today's episode of the 4sight Friday Roundup podcast. Sponsored by Infor. David Johnson is CEO of 4sight Health. Julie Vaughan Murchinson is Partner of Transformation Capital and former CEO of Health Evolution. David Burda is News Editor and Columnist of 4sight Health.
Listen to this episode to learn how CFOs and C-suite leaders should be addressing four key challenges in today's labor market: Strong demand for talent, increasing compensation expectations, and difficulty recruiting and hiring Return to the office and hybrid work The “Great Resignation” and shifting employee values Diversity, equity and inclusion, and defining the value your organization provides to employees and the world
Inflation pressures, higher interest rates, and supply chain challenges have created a climate of uncertainty in which commercial real estate executives see revenues coming under pressure, according to Deloitte US Real Estate Leader Jeff Smith.Speaking on the REIT Report, Smith said that Deloitte's 2023 Commercial Real Estate Outlook, which is based on survey results for more than 450 CFOs, showed that 48% of respondents expect revenues to decrease in 2022. That compares with only about 9% expecting a decrease in the prior year's survey.Despite the anticipated decline in revenues, CFOs were “pretty positive” when it came to real estate fundamentals, Smith said. Over 50% of CFOs said they expect increased leasing and rental rates in the next 12-18 months, along with decreased vacancies, he added.
The Spending Habits of Healthcare CFOs David Johnson and Julie Murchinson critiqued the spending priorities of healthcare CFOs on the new episode of the 4sight Friday Roundup podcast moderated by David Burda and sponsored by Infor. Find all of our network podcasts on your favorite podcast platforms and be sure to subscribe and like us. Learn more at www.healthcarenowradio.com/listen/
“During the seed round, it's a lot about the story you tell, and your market conditions. How is our software going to fit into the trends that are happening outside? It's about telling your founder's story, what you believe in.”After working as the Head of Global Pricing at Uber, where she managed weekly budgets approaching millions of dollars, Rose Punkunus worked as CFO for several tech startups. There, she encountered the same issue many times: although she and her teams needed technology to accelerate their work, the only tools available were costly, enterprise offers.So she created her own: Sudozi.In this episode of the CFO Yeah! podcast, we discussed her experiences moving from large companies and finance-specific positions to founding her own business from scratch. She shares her insights on securing seed funding, working towards growth, and how CFOs can communicate more effectively to their teams.
As the threat of an economic downturn looms, it's time to discuss why NOW is the right time to turn your CFO into a Supply Chain Cheerleader. CFOs strongly believe that good supply chain performance is vital to achieving financial growth. However, most CFOs view supply chains as a tremendous cost of doing business and a potential drain on profitability. In this TEKTOK crossover episode, learn why your CFO needs your insights and expertise to navigate the current volatile environment and boost profitability. Additional Links & Resources: Learn more about Supply Chain Now: https://supplychainnow.com (https://supplychainnow.com) Check out our new Supply Chain Now Media Kit: https://bit.ly/3zKRLyL (https://bit.ly/3zKRLyL) Subscribe to Supply Chain Now and all other Supply Chain Now programs:https://supplychainnow.com/subscribe ( https://supplychainnow.com/subscribe) Leveraging Logistics and Supply Chain for Ukraine: https://vectorgl.com/stand-with-ukraine/ (https://vectorgl.com/stand-with-ukraine/) 2022 Q2 U.S. Bank Freight Payment Index: https://freight.usbank.com (https://freight.usbank.com) WEBINAR- Why Choose Between Reducing Risk or Optimizing Costs? https://bit.ly/3KkCN7F (https://bit.ly/3KkCN7F) WEBINAR- There's a Better Way to Pay: Procure to Pay in the New Abnormal: https://bit.ly/3cXFD6a (https://bit.ly/3cXFD6a) WEBINAR- Top Three Ways to Control Delivery Costs in Challenging Times: https://bit.ly/3qgefU5 (https://bit.ly/3qgefU5) WEBINAR- Beyond One Number Forecasts: Why a Probabilistic Approach is Better to Manage Uncertainty: https://bit.ly/3cQAzAB (https://bit.ly/3cQAzAB) WEBINAR- A New Paradigm Of Resilience: Protect Against The Next Supply Chain Crisis: https://bit.ly/3KSYdJg (https://bit.ly/3KSYdJg) This episode is hosted by Karin Bursa. For additional information, please visit our dedicated show page at: https://supplychainnow.com/tektok-crossover-CFO-supply-chain-984
Today's guest is one of the most in-demand experts on the topic of professional performance and he's also an award-winning keynote speaker. He's here to tell us how to create a “tip jar” culture. Dave Bookbinder goes Behind The Numbers with Gregory Offner, Founder of the Global Performance Institute. In this episode, Greg draws on his experience from both the corporate world and as a professional entertainer to explain how their connected. He shares the importance of a ‘tip jar culture' in the corporate setting and how that impacts engagement and retention. Greg also identifies the moment when someone makes the decision to ‘quiet quit,' and what the larger conversation about quiet quitting really needs to be. About the Host: Dave Bookbinder is the person that clients reach out to when they need to know what their most important assets are worth. He's also on a mission to change the conversation about how the accounting world recognizes the value of people's contributions to a business enterprise, and to quantify what every CEO on the planet claims: “Our people are this company's most valuable asset.” Dave is a Managing Director at B. Riley Advisory Services, where he works closely with business owners, CFOs, Controllers, and CEOs. Dave has conducted valuations of the securities and intangible assets of public and private companies for various purposes. Grab Dave's best-selling book: The New ROI: Return on Individuals Connect with Dave on LinkedIn Connect with Dave on FaceBook Follow Dave on Twitter Check out NewROI.com for more.
References Dr Guerra's lipid and membranes lectures Biochimica et BiophysicaActa (BBA) - Molecular and Cell Biology of Lipids.2014.Volume 1841, Issue 9, Pages 1241-1246 Onco Targets Ther. 2017;10:5491-5524 --- Send in a voice message: https://anchor.fm/dr-daniel-j-guerra/message
Earlier this summer, CFOs and CSOs from Sg2 and Vizient member organizations came together to discuss how to rediscover growth and future-proof their care continuums. In this week's Sg2 Perspectives, Sg2 Principal Brian Esser, National Vice President, AMCs, Michael Humphrey and Principal Jennifer O'Connor, FACHE, recap what was top of mind at this joint network meeting, including alternative revenue streams (eg, care at home models and direct-to-employer contracting), innovation and strategic capacity, as well as how CFOs and CSOs—and even COOs—can collaborate to navigate the changing health care landscape. We are always excited to get ideas and feedback from our listeners. You can reach us at firstname.lastname@example.org, find us on Twitter as @Sg2HealthCare, or visit the Sg2 company page on LinkedIn.
Changes are coming to one of the Cybersecurity Maturity Model Certification's key documents. Eric Crusius, partner at Holland & Knight LLP, says what changes he thinks could benefit industry and what could benefit the Department of Defense. Federal government law enforcement agencies have clawed back more than 30 million dollars in crypto currency North Korean hackers stole earlier this year. Brian Capra, director of strategic applications for Chainalysis, explains the threat landscape presented by cryptocurrency and how the federal government can defend against it. This interview is underwritten by Chainalysis. The end of the fiscal year is about two weeks away now and the White House is prepping agencies to get ready for another continuing resolution. Gerard Badorrek, former chief financial officer at the General Services Administration and founder of the Federal RPA Community of Practice, discusses how agencies can get ready for a CR and how CFOs can help other parts of the organization prepare. The Daily Scoop Podcast is available every weekday afternoon. If you want to hear more of the latest from Washington, subscribe to The Daily Scoop Podcast on Apple Podcasts, Google Podcasts, Spotify and Stitcher. And if you like what you hear, please let us know in the comments.
Bob Cahill got his start at Ernst & Young. “And I was fascinated by the power of software and technology to expand your market or make you efficient in your operations,” he said as our guest on this episode of #HRTechChat video podcast. Over the approximately 25 years that have passed, Bob served as a C-suite executive for several technology companies, and a big part of his focus has always been on international challenges, “where I found a lot of passion to scale technology globally,” he said. “It was sort of the perfect juncture with meeting Nicole Sahin,” the founder of Globalization Partners, where Bob later became CEO. “She had this better mousetrap idea.” Traditionally, companies that wanted to expand internationally would have to follow a very conventional process. The first step would be to set up a new entity and get a payroll registration so they could hire people. Then, they'd have to ensure regulatory compliance would be outsourced to an array of advisors. “Nicole's vision was, ‘Why do I keep doing this over and over again?',” Bob noted. Thus was born, about 10 years ago, Nicole's vision for an employer-of-record (EOR). A company that needs to stand up its ability to employ people in a country new to its operations can turn to an EOR to do all the heavy lifting. The EOR's very business is to set up these entities in any country needed to become the globally expanding employer's single point for all things there related to employment. The EOR assumes this risk and takes on solving for all the complexity involved. As a pioneer in the space, Globalization-Partners has trailblazed best-practices to overcome resistance to the idea of an EOR. This resistance is waning considerably as EORs have flourished to gain acceptance in recent years. The welcoming has come not only from the typical growing global organization, but also from employers clamoring to establish borderless workforces and vie for talent in pursuit of the emerging work-from-anywhere approach to talent acquisition and retention. This is the future-of-work angle, and it's worth noting that nearly one-quarter of CFOs are concerned over talent shortages, according to Globalization Partners' 2022 Globalization Trends Survey. Perhaps more compelling, 83 percent of CFOs believe “their long-term plans will stem around expansion into new countries,” the related press release notes. It's a number slightly higher than last year's, and the report is rich with insight into the sentiments and objectives of CFOs vis-à-vis EOR. As additional context for our conversation, Bob and I touched a bit on the findings overall. We also explored the company's philosophy when it comes to workforce inclusivity and blending service and technology for EOR, as well as Nicole's vision for the years ahead in EOR now that she is executive chair of Globalization Partners. I highly recommend viewing this episode.
References Dr Guerra's lecture notes Biochimica et BiophysicaActa (BBA) - Molecular and Cell Biology of Lipids.2014. Volume 1841, Issue 9, Pages 1241-1246 --- Send in a voice message: https://anchor.fm/dr-daniel-j-guerra/message
Mergers and Acquisitions are some of the best strategies companies employ to scale or diversify their businesses. M&As can take various forms, sizes, shapes, and goals. Regarding the planning and managing sides of an M&A, CFOs are responsible for leading efforts toward a successful deal. So how can you ensure that will happen? Simone Grimes, Chief Financial Officer at Acadia Insurance, joins the next episode of the CFO Weekly podcast to discuss challenges associated with M&A integration, how CFOs can manage businesses across multiple M&A stages, and the importance of ESG initiatives. In this episode, we discuss:: -What role do CFOs play in an M&A? -Post-acquisition integration challenges -How should CFOs prepare themselves for M&As? -How should businesses square the cost-benefit equation of ESG? Presented by Personiv https://insights.personiv.com/cfo-weekly
Repeat offender, Ian Stewart, Chief Economist from Deloitte, and Founder of the CFO Survey joins Hannah Munro on this week's episode of CFO 4.0! Ian shares some key findings from the most recent CFO Survey, a quarterly survey that is sent out to some of the UK's leading CFOs on pressing issues.Hannah & Ian explore some interesting findings, including that CFOs predicted the recession.Also covered in this episode:Why do the Bank of England and Treasury use the CFO Survey findings Key findings from the most recent CFO SurveyHow CFOs predicted the recession two months before the Bank of England announced itWhat strategies CFOs are using to deal with high inflation How the Pandemic, Brexit, and the Ukraine war have impacted supply chains and shocked the economyLinks mentioned in this episode:Read the recent CFO Survey ReportLearn more & subscribe to the Deloitte Monday BriefingIan Stewart's LinkedIn Subscribe to CFO 4.0 Podcast Alerts
You may have heard the acronym FP&A many times, but always wondered what it stood for? Financial Planning and Analysis is the function, typically present in more mature companies responsible that is responsible for financial planning, modeling and analysis.Paul has a summarized view of what FP&A professionals are responsible for which is: "FP&A is responsible to maximize shareholder return by helping businesses to best deploy and allocate future dollars".Where does FP&A start and end, versus the Revenue Operations function? Well, the answer was clear as mud. Paul shared that each company defines FP&A and RevOps differently, Some companies have "operations" report to the CFO and some to the Chief Revenue Officer. The primary answer was "planning and modeling" goes into FP&A, and the rest of operations depends on the culture and competency within a company.Forecasting was another topic that is sometimes responsible for forecasting and others FP&A simply validates the Sales provided forecast, but not to create and share the forecast. Basically, can FP&A use historical financial data toreview and validate the forecast.I drilled down into how FP&A departments become involved with "SaaS Metrics" in the SaaS industry. Paul likes to see CFOs as the primary owner of the data that drives SaaS Metrics to ensure that the input data and the enterprise value creating metrics are standardized. Basically, not having the Go-to-Market functions own the SaaS Metrics formula definition, but can collaborate with FP&A in the calculation of the metrics using the "Finance" approved definition and calculation formula.If you are involved in the financial planning, modeling and reporting process in your SaaS company, and already have or are evaluating introducing a FP&A function that will work closely with the GTM operations teams (Sales Ops, Marketing Ops, CS Ops and/or RevOps) this conversation is a great listen!
Meet Aditya Bansod:Aditya Bansod is the Chief Technology Officer and co-founder of Luma Health. Prior to Luma Health, he was the Vice President of Product at Remind and the Vice President of Product Management and Marketing at Sencha, Inc. Previously, he was a Principle Product Manager at Adobe Systems as well as a Lead Program Manager at Microsoft. Aditya received a Bachelor's of Cognitive Science from the University of California San Diego. Key Insights:Aditya is driven to build software that positively impacts people's lives. Improving healthcare access through better waitlists is only the start for Luma Health. The Founding Team. Luma Health has three co-founders that complement each other's experiences and background. Their CMO is a practicing radiologist, providing a clinical perspective, and the CEO has a background in sales and marketing. With his background in product management, Aditya specializes in product engineering and implementation. Patient Success Above All. Health systems want patient engagement, but Aditya is focused on patient success. Success in patient outcomes is a more challenging metric to achieve, and is longer-term, but that is what patients ultimately value.Funding During a Downturn. In boom times, innovation and digital transformation teams have more sway. During downturns, the bar is a little higher and CFOs are the new target audience when finding partnerships. This may require founders to be more ROI-focused, vision-oriented, and disciplined. This episode is hosted by Tarun Kapoor, M.D. He is a member of the Advisory Council for Day Zero and is Senior Vice President and Chief Digital Transformation Officer at Virtua Health. Relevant Links:Check out Aditya's websiteLearn more about Luma HealthFollow Aditya on Twitter
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Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes2:02 – Review from Scott Michael Collier – Thank you! 4:49 – PwC Manager is Suing the Firm After He Lost a Chunk of His Skull at a Drunken Work Event - Going Concernhttps://www.goingconcern.com/pwc-manager-is-suing-the-firm-after-he-lost-a-chunk-of-his-skull-at-a-drunken-work-event/ 8:04 – Ernst and Young employee, 33, found dead at Sydney office after Friday night work drinkshttps://www.news.com.au/finance/work/at-work/ernst-and-young-employee-33-found-dead-at-sydney-office-after-friday-night-work-drinks/news-story/53f85fe1c0d9d96c461e9963f662a040 10:26 – Top House Intel Republican downplays Trump's records-handling: 'More of a bookkeeping issue'https://www.washingtonexaminer.com/news/politics/house-intelligence-gop-trump-docs-not-security-threat 12:16 – Crypto.com mistakenly sent a customer $7.2 million instead of a $68 refund - The Vergehttps://www.theverge.com/2022/8/31/23330458/crypto-dot-com-typo-mistake-refund-audit 17:41 – PCAOB, China sign agreement opening door for inspections - Journal of Accountancyhttps://www.journalofaccountancy.com/news/2022/aug/pcaob-china-sign-agreement-opening-door-inspections.html PCAOB observed problems during audits of SPACshttps://www.accountingtoday.com/news/pcaob-observed-problems-during-audits-of-spacs 19:27 – California Passes Radical AB 257 Fast-Food Legislationhttps://www.uschamber.com/employment-law/unions/california-passes-radical-ab-257-fast-food-legislation California Fast Food Wages Would Be Set by Government Under Bill Passed by State Legislaturehttps://www.wsj.com/articles/california-fast-food-wages-would-be-set-by-government-under-bill-passed-by-state-senate-11661811509 California QSRs Push Back Against Wage Billhttps://www.pymnts.com/news/regulation/2022/california-qsrs-push-back-against-wage-bill/ 21:39 – As prices rise, CFOs turn toward automation to control costs | Accounting Todayhttps://www.accountingtoday.com/news/as-prices-rise-cfos-turn-towards-automation-to-control-costs 26:45 – Wassia Kamon, CPA, CMA, MBA on LinkedIn: Top 10 Accounting and Finance Certifications | 177 commentshttps://www.linkedin.com/posts/wassiakamon_top-10-accounting-and-finance-certifications-activity-6962807548219445248-Y35M 29:43 – Email from Joseph – Thank you! 34:16 – Voicemail from Elliot – Thank you! 43:04 – Intuit unveils new logo design | Accounting Todayhttps://www.accountingtoday.com/news/intuit-unveils-new-logo-design It's a brand new day for Intuit!https://www.intuit.com/blog/news-social/unveiling-our-new-intuit-logo/ 45:22 – Intuit's (INTU) Earnings and Revenues Surpass Estimates in Q4 (Revised)http://www.zacks.com/stock/news/1972710/intuit-s-intu-earnings-and-revenues-surpass-estimates-in-q4-revised?cid=CS-ZC-FT-analyst_blog|earnings_article-1972710 Intuit's (INTU) Earnings and Revenues Surpass Estimates in Q4http://www.zacks.com/ Intuit Inc. (INTU) CEO Sasan Goodarzi on Q4 2022 Results - Earnings Call Transcripthttps://seekingalpha.com/article/4536551-intuit-inc-intu-ceo-sasan-goodarzi-on-q4-2022-results-earnings-call-transcript Intuit (INTU) Q4 Earnings and Revenues Beat Estimateshttps://www.zacks.com/stock/news/1971565/intuit-intu-q4-earnings-and-revenues-beat-estimates Intuit Reports Strong Full Year Results and Sets Fiscal 2023 Guidance | Business Wirehttps://www.businesswire.com/news/home/20220823005060/en/Intuit-Reports-Strong-Full-Year-Results-and-Sets-Fiscal-2023-Guidance 48:34 – MyCase Rolls Out Built-In Accounting and Integrated Document Automationhttps://www.lawnext.com/2022/08/mycase-rolls-out-built-in-accounting-and-integrated-document-automation.html MyCase Announces Release of Accounting and Robust Document Automation Integration, Further Enhancing Legal Tech Platformhttps://www.businesswire.com/news/home/20220831005177/en/MyCase-Announces-Release-of-Accounting-and-Robust-Document-Automation-Integration-Further-Enhancing-Legal-Tech-Platform 49:56 – Intuit releases automated tax advisory solution in move towards CAS support | Accounting Todayhttps://www.accountingtoday.com/news/intuit-releases-automated-tax-advisory-solution-in-move-towards-cas-support Intuit Accountants Launches Intuit Tax Advisor Integrating Tax Prep and Advisoryhttps://www.intuitiveaccountant.com/accounting-tech/vendor-news/intuit-accountants-launches-intuit-tax-advisor-integrating-t/ Intuit® Accountants launches Intuit Tax Advisor, integrating tax prep and advisoryhttps://proconnect.intuit.com/taxprocenter/proconnect/intuit-accountants-launches-intuit-tax-advisor-integrating-tax-prep-and-advisory/ 51:16 – Watch Intuit Tax Advisor Video – Tax prep + advisory tools, together at lasthttps://proconnect.intuit.com/tax-advice-planning-for-professionals/ 57:52 – Bookkeeper360 raises $3.5M Seed Round to Scale Platform and Operations | Business Wirehttps://www.businesswire.com/news/home/20220818005114/en/Bookkeeper360-raises-3.5M-Seed-Round-to-Scale-Platform-and-Operations 59:32 – Fathom acquired by UK's Access Group | Accounting Todayhttps://www.accountingtoday.com/news/fathom-acquired-by-uks-access-group 1:00:56 – Karbon Client Portal is here! | Karbon Communityhttps://community.karbonhq.com/product-updates/karbon-client-portal-is-here-1612Get in TouchThanks for listening and for the great reviews! 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CFOs have “a rising confidence in their ability to manage through these challenging times,” according to Steve Gallucci, national managing partner for Deloitte's U.S. CFO Program. He explains more about why finance chiefs are concerned and why they have a sense of hope in the face of an economic downturn in the latest episode of the Journal of Accountancy podcast. The conversation focuses on Deloitte's third-quarter CFO Signals report, with data from mainly large, public companies in the United States.
Unlike many CFOs who tell us that their finance career paths did not intersect with the investor relations (IR) function until shortly before their arrival in the CFO office, Chuck Triano relates that his actually began inside the IR function. In fact, most of the experiences that he credits with shaping his finance leadership portfolio were gleaned during a multi-chapter IR leadership career. Still, Triano's expansive IR resume is not unusual among life sciences CFOs, who say that high-calorie IR/communication skills have long distinguished the sector's finance leadership. For Triano, whose resume includes a 13-year IR leadership tour with Pfizer and 8 years with Forest Laboratories, the IR path provided an uncompromising view of CFO leadership—one that other members of the finance rank-and-file are unlikely to experience. According to Triano, it's not unusual for IR executives to find themselves seated alongside their CFOs and at times actively assisting the finance leader as he or she seeks to achieve a discerning and influential narrative about the business. Along the way, Triano recalls, his powers of narrative storytelling were put to the test nowhere more than at Pfizer, where at one point he became responsible for “putting down on paper” the company's 6- to 7-year plan. Providing investors with an extended view into the future can be a delicate task, but inside the world of pharmaceuticals—where drug patent expirations loom large—providing an over-the-horizon look for investors can be especially hazardous, admits Triano. Still, Triano realized that there was no turning back. “We had to make the long-term picture clearer, so we needed to talk about these things and get out in front of them,” reports Triano, who notes that the experience became liberating for the business in a way. Looking back at the task of helping to create Pfizer's long-term outlook, Triano says: “I began by thinking, ‘How do we weave a story out of this?,'” –Jack Sweeney
As the threat of an economic downturn looms, it's time to discuss why NOW is the right time to turn your CFO into a Supply Chain Cheerleader. CFOs strongly believe that good supply chain performance is vital to achieving financial growth. However, most CFOs view supply chains as a tremendous cost of doing business and a potential drain on profitability. The truth is, your CFO needs your insights and expertise to navigate the current volatile environment and boost profitability. Learn more about TEKTOK here: https://supplychainnow.com/tektok Subscribe to TEKTOK and other Supply Chain Now programs here: https://supplychainnow.com/subscribe This episode was hosted by Karin Bursa. For additional information, please visit our dedicated show page at: https://supplychainnow.com/cfo-supply-chain-cheerleader-tt45
Are you already offering advisory services and now you're curious how to go from forecasts and projections to helping your clients achieve their goals and dreams? In this coaching session, one of my clients asks how to take her CFO services to the next level.
Finance and accounting processes are vital elements of any business. In many cases, business leaders expect the finance and accounting department to run as smoothly as possible to ensure that payments are processed swiftly and reports are made on time to gather insights and inform decision-making.But what if there was a way to improve the efficiency of these vital business processes? That's exactly what Rose Punkunus set out to do with her seed stage startup, Sudozi — a software platform designed to help finance and accounting teams automate workflows, keep track of vendors and budgets, and improve financial decisions.In this episode of The Modern CFO, Sudozi Founder, CEO, and CFO Rose Punkunus talks with host Andrew Seski about her experience starting her own firm—a software platform designed to help finance and accounting teams automate workflows, keep track of vendors and budgets, and improve financial decisions.Show Links Check out Sudozi Connect with Rose Punkunus on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn
As challenging as it sounds, M&As bring significant opportunities that most companies never have the chance to experience. CFOs have substantial responsibilities in leading successful acquisition and integration processes. To better prepare for a potential M&A, Charles Freund, Chief Financial Officer at FLEETCOR, joins the next episode of the CFO Weekly podcast. He shares the challenges and benefits of an M&A growth strategy and the importance of ESG initiatives. In this episode, we discuss: -Why should CFOs work close to HR -International growth strategies -The science behind M&As -How to lead a successful integration process Presented by Personiv https://insights.personiv.com/cfo-weekly
In this week’s episode of The Breakout Growth Podcast, brought to you by SAP, the world’s leading ERP provider, Sean Ellis, and Ethan Garr chat with Tim Flaherty, Chief Financial Officer at Enable Injections. MedTech is an area we hadn’t explored before, but we often find that going outside of what you know can offer new inspiration and insights for all of us working to drive breakout growth success. Enable Injections is developing enFuse®, an innovative device designed to improve the lives of patients who depend on medical infusions. This less disruptive system for delivering life-sustaining medications has the potential to drive step-change quality of life improvements for people living with a variety of conditions. Tim is leading the company as CFO, and believes this technology can have dramatic consequences for people who sometimes have to give up their ambitions just to live life around their infusion schedules. But what does a CFO really do? Are they administrators who simply ensure that money flows in and out of the business efficiently? Or are they the strategic thinkers working to ensure the financial needs of the business support the mission? Tim certainly ascribes to the latter, and in this discussion, we learn how he brings a passion for patients into his work, and how he must constantly think about the future to ensure the long-term health of the business. Medtech has its own unique challenges, and everything from fundraising to regulation comes into the growth equation, but ultimately, many of the themes we discuss are applicable across industries and markets. Before you jump in, learn more about SAP's cloud solutions for mid-size enterprises at sap.com/sme. If you have ambitious goals, SAP is the technology partner you need to scale and drive innovation. Instead of relying on stitched-together solutions to manage business finances, operations, HR, suppliers, and customer relationships, leverage the flexibility of SAP's cloud-based ERP solution to gain the insights that will help drive your breakout growth success. Achieve breakout growth success now with SAP at sap.com/sme. We discussed: * Real patients: the hardships of living with in-clinic infusions (04:42) * Big Tech/Big Pharma – The impact of big budgets for CFOs (07:39) * Fundraising over $400 million to support a long-term strategy (11:01) * Once approved, we have to take off like a rocketship! 16:28) * When companies should hire a CFO (35:03) And much, much, more . . . The Breakout Growth Podcast is also
The design and production of an automobile involves a variety of ‘moving parts' – including the ability to acquire the necessary component parts. In fact, today's guest describes the automotive supply chain as a “Rubik's cube of logistics.” Dave Bookbinder goes Behind The Numbers with Alicia Masse, Senior Managing Director at B. Riley Advisory Services. In this episode, Alicia shares her insights about the unique aspects of the automotive industry including the complexities of the production process, including the supply chain. About the Host: Dave Bookbinder is the person that clients reach out to when they need to know what their most important assets are worth. He's also on a mission to change the conversation about how the accounting world recognizes the value of people's contributions to a business enterprise, and to quantify what every CEO on the planet claims: “Our people are this company's most valuable asset.” Dave is a Managing Director at B. Riley Advisory Services, where he works closely with business owners, CFOs, Controllers, and CEOs. Dave has conducted valuations of the securities and intangible assets of public and private companies for various purposes. Grab Dave's best-selling book: The New ROI: Return on Individuals Connect with Dave on LinkedIn Connect with Dave on FaceBook Follow Dave on Twitter Check out NewROI.com for more.
The 2008-2009 recession brought several key learnings to light for businesses long after they entered recovery. First among those lessons: Executive leaders who took bold, decisive action at the very start of economic contraction saw the greatest gains against their competitors post-recession. While many business and financial leaders looked forward to relief from burnout and a return to normalcy coming out of the pandemic, instead they now face new stresses: recession risks, talent shortages, and increasing pressure to tighten spending. In this episode — originally aired by our sister show, “CFOs' Autonomous Future, The Gartner Finance Podcast” — Alexander Bant, Gartner's chief of research for CFOs, dives deeper into the data, key lessons and takeaways from organizations that successfully navigated the 2008-2009 recession, and details nine key actions financial leaders can take today to continue to drive agility and digital transformation, and successfully navigate the next 12 to 24 months. Dig Deeper Download: 9 Actions for Winning Through a Recession: A 2022–2023 Playbook https://gtnr.it/3Q9UNmj Subscribe: CFOs' Autonomous Future, The Gartner Finance Podcast https://gtnr.it/3AITfKl
This episode of the CFO Playbook features an interview with Manish Sarin, CFO at Sprinklr, a leading enterprise company for all customer-facing functions. With advanced AI, Sprinklr's unified customer experience management platform helps companies deliver human experiences to customers across modern channels.Manish is an experienced public company executive leading finance teams, investor relations, and corporate development. He has extensive experience in building finance systems and processes for high growth SaaS companies, defining inorganic strategy, identifying and evaluating acquisition targets, structuring and negotiating transactions, and integrating acquired companies. His prior experience includes working with major Wall Street investment banks. He started his career at JP Morgan / H&Q and earned an M.B.A. from Columbia and B.Tech in Computer Science from IIT, India.In this episode of the CFO Playbook, Manish talks about how he got into finance so he could be in a position to make impactful decisions for businesses, and explains why the role of a CFO is very different now than it was just a couple of decades ago. Manish also describes what he feels are the general misconceptions of the CFO role, how technology is important to the finance function, what current CFOs must do in order to raise capital, and how he achieves cohesion within his team when hiring and retaining employees. In addition, he provides his view on the current fintech market and how to navigate the new normal when dealing with restricted funding availability.Take The CFO Playbook Listener Survey to help us improve the show. You'll also be entered to win your choice of the latest iPad Pro or a Samsung Galaxy S7.--------Guest Quotes:“One of the things that I look for, and probably the most important thing when I'm interviewing people, is what I call fire in the belly. So unless I see somebody's really passionate, the fact that they have lots of years of experience, relevant experience, have worked at compelling businesses, all of that is good. But to me, a motivated individual who wants to succeed is way more important than trying to find that square peg for that, you know, square hole.”“We live in a world of soundbites. If you look at how companies go public, investors have 30 minutes to understand the story, look at some financials and figure out, do they want to make a big multimillion dollar investment? And that squarely lies on the CFO. So distilling complex technology aspects or business aspects, and the ability to explain it in an easy to understand fashion. Super important for a CFO.”“A CFO shouldn't really view that he or she has a particularly well defined swim lane, they should view the entire business as something that they can actually have a say in, and the more comfortable they are with that, the more successful they will be.”--------Timestamp Topics:01:45 How Manish got started in finance05:20 What makes a good CFO07:30 Views on the predominant model of founder led companies12:47 Finding balance in the tech industry15:30 Financing and raising capital18:05 Views on the current market20:36 Advice to other CFOs31:00 Achieving cohesion with your team27:56 Views on technology within finance36:15 Advice for aspiring CFOs--------Sponsor:This show is brought to you by Soldo, the brighter way to manage business spending and expenses. With Soldo, you can control every expense, track spend in real time, automate financial reporting, and then use those insights to fuel growth. Learn more at Soldo.com--------Links:Connect with Ross on LinkedInConnect with Manish on LinkedInThe CFO Playbook Listener Survey
Finance professionals have to make not only good but the best decisions all the time. Their directives are crucial for the success or failure of businesses. And, considering the pace at which the business world evolves, they need to be prompt with their decisions. But how can CFOs ensure that they make the best choices instantly? The answer lies in data and real-time decision-making tools. In this episode of CFO Weekly, Rose Punkunus, Founder and CEO of Sudozi, joins Megan Weis to discuss how finance professionals can leverage real-time decision-making tools to make better-informed decisions and drive businesses to success. In this episode, we discuss: -Why should finance professionals automate business processes -Real-time solutions for strategic finance teams -How can the right data leverage business decisions Presented by Personiv https://insights.personiv.com/cfo-weekly
Today's guests are a mother-daughter team who are organizational and leadership development experts specializing in dismantling dysfunction in organizations. They've written three books on the subject, with a fourth on the way, and they are here today to enlighten us about organizational dysfunction and how to repair it. Dave Bookbinder goes Behind The Numbers with Heather Dranitsaris-Hilliard & Anne Dranitsaris, Ph.D., Founders of Caliber Leadership Systems. In this episode, we're discussing how to develop followership of employees, overcoming entitlement and how to cure a toxic workplace. We also talk about how the limitations of leaders can limit the value of a business and more! About the Host: Dave Bookbinder is the person that clients reach out to when they need to know what their most important assets are worth. He's also on a mission to change the conversation about how the accounting world recognizes the value of people's contributions to a business enterprise, and to quantify what every CEO on the planet claims: “Our people are this company's most valuable asset.” Dave is a Managing Director at B. Riley Advisory Services, where he works closely with business owners, CFOs, Controllers, and CEOs. Dave has conducted valuations of the securities and intangible assets of public and private companies for various purposes. Grab Dave's best-selling book: The New ROI: Return on Individuals Connect with Dave on LinkedIn Connect with Dave on FaceBook Follow Dave on Twitter Check out NewROI.com for more.