The CFO Show

Latest Episodes:

Better Together: Aligning FP&A and Accounting May 28, 2024

Show notes

Accountants work with certainties, recording and reporting on past financial transactions to ensure accuracy and compliance. FP&A professionals, however, are concerned with what-ifs, looking toward the future in the forms of forecasting and strategic planning. It’s no wonder these two sides of the finance team can sometimes feel their goals are incongruent.

David Cornfield of World Wildlife Fund Canada (WWF) and Tom Seegmiller of Texada Software each started their careers on one side of the finance team and now oversee both functions. They understand what can cause friction between these two roles and the dangers of working in silos.

In this episode, David and Tom sit down with host Melissa Howatson to discuss the processes needed to build stronger collaboration across the finance team, improving data accuracy for accounting, forecasting accuracy for FP&A, and ultimately driving insights and value for the team as a whole.

Learn how both FP&A and accounting professionals approach their work, and how to build a cohesive and healthy finance team by aligning their KPIs.

Discussed in This Episode:

The benefits of a strong, symbiotic relationship between FP&A and accounting, and how this partnership can improve overall efficiency and support better decision-making.
The perspectives Tom and David have gained on accounting and FP&A as their responsibilities have grown, including what they wish they had known earlier in their finance careers.
How FP&A, with its emphasis on forecasting, budgeting, and strategic planning, can equip accountants with forward-looking insights that help them anticipate trends and allocate resources more effectively.
How accountants, through their attention to detail and commitment to regulatory standards, ensure the accuracy and integrity of the financial data that FP&A relies on.
Examples of processes Tom and David have implemented to align their FP&A and accounting teams and to standardize data across both functions.

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

AI Revolution: Unlocking FP&A Potential May 21, 2024

Show notes

The transformative potential of AI for finance teams is extraordinary. CFOs need to educate themselves on how, where and when to adopt new technologies, and what they can be doing ahead of adoption to prepare their organizations.

Howard Dresner is a technologist, researcher, and one of the foremost thought leaders in business intelligence. In this episode, Howard discusses the research his firm, Dresner Advisory Services, has conducted on AI adoption, as well as his predictions for how next-generation AI technologies will be used in Financial Planning and Analysis (FP&A). Howard also explains how AI works and why the insights it generates are so much more sophisticated than what we can produce in a spreadsheet.

Learn how innovation in AI is likely to impact FP&A, and how these developments will elevate the Office of Finance. Even if you don’t plan to be a first-mover, Howard’s insights can help your business get ready for the integration of these new technologies, long before you actually invest in them.

Discussed in This Episode:

How AI will empower finance professionals to navigate complex data landscapes with unprecedented precision and agility.
Potential use cases for AI in FP&A, including forecasting and churn and risk assessment.
The difference between AI and generative AI, as well as the strengths and limitations of each.
When businesses should invest in AI, and how they should prepare for adoption ahead of those investments through education and policymaking.
The history of business intelligence and Howard’s view on how it has evolved over the last few decades.

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

Empowering Small Business Leaders: Tips From a Fractional CFO May 07, 2024

Show notes

Small businesses rarely have the budget to hire a full finance team, but they still need the same diverse range of support across payroll, accounting and financial planning as a large corporation. Some companies decide to outsource these functions to a dedicated finance and accounting partner as a more cost-effective and efficient way to handle their finance function needs and expedite growth.

Kendra James-Anderson, founder of The Finance Femme, helps female entrepreneurs grow their businesses through virtual financial and accounting advisory. In this episode, Kendra gives us an inside look at a day in the life of a fractional CFO; shedding light on the value outsourced financial services can bring to small businesses. Kendra discusses when entrepreneurs should hire an outside finance partner, as well as how that partner should work with small businesses to stabilize or accelerate growth.

Learn how a fractional CFO or an outsourced accounting team can help small business owners with everything from basic accounting obligations to long-term business strategies.

Discussed in This Episode:

A close-up look at the office of the fractional CFO, from how they function to how they support clients.
The increasing small business need for a trusted financial advisor.
When entrepreneurs should seek outside finance assistance and guidance.
Entrepreneur’s shifting mindset toward business financial health post-COVID and now during economic uncertainty.
How a fractional CFO can support day-to-day operations and bring a growing business(es) to the next level.

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

New CFO Checklist: The First 90 Days Apr 30, 2024

Show notes

A CFO is expected not only to lead financial reporting and the Office of Finance but also to provide strategic insights and strategies that propel the business forward. As a new CFO, you might feel eager to start doing the latter as soon as possible.

But you don’t need to build your long-term strategy in the first few months on the job. When starting a new role as a CFO, your first 90 days should focus on learning about the organization and its members, building relationships across the business, and setting up a long-term vision. Only then can you start making big changes and building a roadmap for the future.

Tom Seegmiller, CFO of Texada Software provides his five-bullet checklist for new CFOs. He reflects on what it’s like to navigate the first 90 days, both professionally and personally, and offers practical tips for anyone taking on a new CFO role.

Learn how spending time in the trenches can help you better understand the business and secure some quick wins. Once you have a full understanding of the work your colleagues are doing and how each department operates, you’ll be in a much better position to create long-term strategic value for the organization.

Discussed in This Episode:

The value of building relationships and goodwill with stakeholders and partners across the business
How to make yourself an invaluable partner to your CEO and other members of the C-Suite
Assuming best intent, keeping an open mind, and demonstrating an eagerness to help your colleagues
Aligning your vision to organizational and business goals
Why mentorship matters throughout your career, even as CFO

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

Power Plays: Finance Insights from Florida Panther’s NHL CFO James Suh Apr 23, 2024

Show notes

If you like sports, you might say James Suh has one of the coolest jobs in the world. After 11 years with the Toronto Maple Leafs, James became CFO of the NHLs Florida Panthers. What a first year he had, as the Panthers went from barely making the playoffs to the Stanley Cup finals!

In this episode, James gives us an inside look at what goes into finance operations for a sports team and what it was like to lead those operations for an underdog in a breakout year. His experiences offer valuable lessons in strategic planning, underscoring the importance of knowing your market and prioritizing long-term growth and profitability over quick sales streams.

Discussed in This Episode:

Understanding the finances of a hockey franchise
The many streams of revenue in an NHL franchise, and how those differ from team to team
Scenario modeling in an industry and market that are both highly unpredictable
The impact fan behavior has on budgeting and revenue forecasting
How winning impacts work culture, revenues and operations

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

Ready, Set, IPO: Preparing for Your Public Offering Apr 16, 2024

Show notes

Amid uncertain market conditions, many companies are adopting a cautious "wait and see" stance regarding their initial public offering (IPO) plans. However, instead of delaying, proactive planning for an eventual IPO launch is essential. By preparing in advance, companies can capitalize on market opportunities, mitigate risks, and position themselves strategically for a successful public offering when market conditions stabilize.

Donna Dellomo, Former EVP and CFO and Current Senior Strategic Advisor for Lovesac, has helped three companies go public throughout her long career leading finance teams. In this episode, Donna discusses how she built data-driven finance operations and prepared her teams to operate as public companies. Donna’s experiences highlight the importance of investing in technology and establishing the right controls to ensure a healthy public offering, as well as how adaptability can help keep your valuation high.

Learn what meticulous planning and organization it takes for IPO readiness. While you can’t control when market conditions will shift in your favor, you can ensure you and your finance team are ready when they do.

Discussed in This Episode:

Key factors to consider when timing your IPO
Why building the right team of advisors (bankers, lawyers, auditors, investor relations, etc.) is key to fundraising and storytelling
The role of agile planning and scenario forecasting in your IPO-readiness strategy.
How Donna and her team navigated unprecedented macroeconomic shifts, such as COVID, supply chain disruption, and tariffs
Leveling up as a CFO by learning to communicate with the Street and spearhead investor relations
Cultural differences that arise once you go from private to public, and how to stay true to your company values

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

Strategies for Scaling Finance Operations Apr 09, 2024

Show notes

As your business grows, you may feel a lot of pressure to meet increasing operational demands. However, investing in new resources brings the company additional risk, especially in times of economic uncertainty. How do you strike the right balance between prioritization, creating operational efficiencies and hiring?

Andy Young, CFO at Horwich Farrelly, has led finance teams through multiple acquisitions and periods of high growth. In this episode, Andy and host Melissa Howatson discuss how to scale up finance operations amongst global economic shifts. Their conversation focuses on re-evaluating the traditional financial framework and implementing innovative strategies as technologies advance and business structures become more complex.

Learn how to approach high-growth seasons and lead your team through major business changes.

Discussed in This Episode:

The challenges of scaling up and practical solutions to address them
How to lead and inspire a finance team through business and economic changes
What to do when there’s a misalignment between resources and growth plans
Automating processes to trim down operations while you scale up
The importance of a dedicated team during acquisitions

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

Staying Compliant While Keeping Finance Operations Lean Apr 02, 2024

Show notes

Startups in highly regulated industries must strike a tough balance — keeping operations both lean and compliant.

Sruthi Lanka, CFO at Public.com, leans on her engineering background, as well as out-of-the-box thinking from her team, to meet both criteria. Sruthi explains why she made process efficiency a top priority for her team, and how a combination of high and low-tech solutions has created efficiencies and mitigated risk.

Learn what it takes to fortify your organization against unforeseen risk management challenges with this in-depth look at Enterprise Risk Management (ERM) and internal controls.

Discussed in This Episode:

The impact of automation on internal controls and how to make time for automation when you’re resource-constrained
The importance of accurate and unified data across the business
Ensuring regulatory and data compliance when leveraging artificial intelligence (AI)
How smarter checks and balances and risk management can improve the quality of your business

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

ROI Roadmap: Business Partnering Strategies for Finance and Marketing Mar 26, 2024

Show notes

Achieving optimal growth calls for collaboration between marketing and finance.

Ruth Zive, CMO at LivePerson, joins Melissa Howatson to dive into data-driven decisions and the critical need for business partnering between the CMO and CFO. She shares insights on driving scalable growth, pipeline coverage and brand awareness in B2B SaaS marketing, as well as nuanced marketing metrics and the impact of AI investments on customer experience.

Discussed in This Episode:

Marketing strategy and data-driven decision making
Improving finance-marketing business partnerships for better outcomes
Metrics, ROI, and efficiency in enterprise B2B SaaS

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

Quantifying Impact: Navigating Business Performance Metrics Mar 19, 2024

Show notes

When it comes to metrics, less is more.

Host Melissa Howatson, is joined by Craig Schiff, Founder and CEO of BPM Partners. A pioneer in Business Performance Management, Craig helped create and define the field as it evolved from generic business intelligence and analytic applications into BPM.

In this episode, we unpack the crucial components, dashboards, scorecards, KPIs, and metrics that drive business performance management and strategic business success. We discuss the mismatch between technological progress and the slow evolution of organizational processes and culture in performance management. This conversation is filled with practical advice on navigating the complexities of business performance metrics and creating synergy between strategy and execution.

Discussed in This Episode:

The challenges of today’s performance management and business metrics.
How can the Office of Finance take the lead when it comes to performance culture within the business.
Differences between dashboards, scorecards, KPIs, and metrics.
Common pitfalls companies face, from static approaches to KPI development to internal political resistance that hinders strategic execution.
How to align business strategies with performance measures and foster a productive and enjoyable work culture.

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.