For many CFOs, leading the financial aspects of high-growth businesses is definitely challenging. That's a job for top CFOs with years of experience. Luckily, we invited that kind of expert and business leader.
Jim Morgan, Chief Financial Officer at CallRail, is a financial executive with experience in financial planning and analysis, M&A, SaaS and software business models, fundraising, board and investor relations, and human resources/capital management.
He spent most of his career working with companies in the growth phase and trying to reach scale. Today, Jim talks about how CFOs can manage challenges at high-growth companies and the role of data analytics in helping the organization grow faster and more efficiently.
In this episode, we discuss how CFOs can leverage data analytics, attracting and retaining talent, some challenges CFOs face at high-growth companies, among many other interesting topics.
Understanding the Business
Taking on a new CFO role starts with learning how the business works, understanding the products, services, and customers, and getting to know the people around.
“You need to know all aspects of the business because, ultimately, everything impacts the P&L”.
How Can CFOs Leverage Data Analytics?
Businesses need to focus on setting up good data infrastructure and constantly think about how to bring additional techs and tools to provide more information. In the process, CFOs need to learn and apply BI reporting and dashboard tools to get valuable insights from data and help the organization grow faster or be more efficient.
“Having information, dashboards, and reports and being well-versed in those tools is an important part of the job of finance today”.
CFOs Attracting and Retaining Talent in High-Growth Companies
You can never go wrong in investing in your company's values, culture, and mission statement. Creating a positive work-life balance experience for employees and focusing on developing valuable skills for their careers can certainly create a huge impact in the companies growth in the long run. Ultimately, let them experience the culture by introducing and connecting with other people in the company. And with existing employees, it is vital that you understand the employees' motivations and career aspirations and invest in their interests.
“We really stress our culture and our value statements”.
Instructions on how to follow, rate, and review CFO-Weekly are here.
Learn more about our highly customizable finance solutions to aid your operations.