Takeaways from Strategic BizOps Meetup: Becoming the Growth CFO
The expression, “The more things change, the more they stay the same” definitely doesn’t apply to today’s CFO.
On October 17, 2017, Rekener sponsored the Strategic BizOps Community meetup, “Becoming the Growth CFO: Exploring the BizOps/Finance Connection.” The panel discussion featured Tim Daniels, CFO at OpsGenie; Mary Jefts, CFO at Salsify; and Matt Tuel, CFO at Profitero. That's us in the title graphic above.
Here's a snapshot of Tim, Mary and Matt (with Bizzie):
And here’s a snapshot of what they shared with us (with more to come soon!):
BizOps is becoming more strategic. The number of SaaS businesses is on the rise, bringing more instrumentation and metrics to manage. Today’s BizOps teams — whether formally part of the Finance function or reporting elsewhere — are doing a lot more than just running reports and building dashboards. They proactively connect with leadership across the company to identify what’s working and what’s not, and they find ways to drive the company forward.
Today’s CFOs spend less time on traditional financials. The focus now is on the future value of the business and those SaaS metrics that pertain to burn rate and growth. The traditional finance numbers, while still important, don’t get the attention now given to ARR, LTV/CAC and churn. Companies need a CFO who partners with Sales, Marketing and Product to strategically grow the business. This type of CFO is harder to find but is much more valuable.
BizOps needs to sit in an unbiased location — like Finance. Individual ops people reporting into individual business units means that their focus is on helping that business unit hit its own goals, and may end up having little impact on the overall business. When building out a data warehouse, for example, this approach begs the questions: ‘Where does it sit?’ and ‘Who makes sure the data is clean and available?’ Someone needs to own such an strategic cross-functional initiative to ensure everyone can leverage its value. There’s no point in duplicating that effort.
What did you think of the panel? Share your comments below.
Watch the full-length video of the meetup. (46 min)
In a hurry? Watch the 3-minute version.
Learn about the "Value Add CFO" in this recent post: Signpost’s Radhika Samant is a New Breed of CFO
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Steph served as Rekener’s Community Manager and CMO. A Rekener co-founder, she was previously Senior Director of Marketing at CCC, a $300M+ recurring revenue business, and served in marketing leadership roles at Vertical, @stake, Informio, DotContent and Meridian. Her first recurring revenue role was as an inside sales rep selling real-time stock pricing subscriptions.
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