SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API

The intersection of technology and finance has not just altered the landscape; it has revolutionized how we think about money management and financial services. Gone are the days of traditional banking as we embrace digital wallets and online transactions. Financial technology, or fintech, has streamlined processes, making financial management more accessible and efficient than ever before.

In this episode, CJ Gustafson, CFO of PartsTech, delves into the nuances of vertical SaaS and marketplaces, highlighting the critical role of analytics in refining these services. With the fintech sector continuously evolving, understanding its complexities is essential for businesses looking to innovate their operations and customer engagement strategies.

Key Takeaways:

(02:09) The significance of writing in personal and professional growth.

(03:44) The concept of control points in vertical SaaS and its impact on customer activation and product expansion.

(07:02) Highlighting PartsTech’s approach to measuring customer behavior changes through specific activation metrics.

(08:23) A critical view on total addressable market (TAM) estimates and the importance of a detailed approach.

(11:07) Examining the realistic challenges and expectations around multi-product strategies.

(14:00) The evolution from vertical SaaS to marketplaces, exploring benefits and challenges.

(17:00) An overview of PartsTech’s business model, emphasizing their take rate strategy.

(19:35) The significance of take rates as an indicator of power dynamics in marketplaces.

(23:49) How analytics and add-on products can make a marketplace or fintech offering more defensible.

(26:22) Forecasting advice for CFOs, with a focus on understanding customer engagement and product development costs.

(27:05) The motivation behind starting a podcast and the power of networking through content creation.

Resources Mentioned:

CJ Gustafson -

https://www.linkedin.com/in/cj-gustafson-13140948/

PartsTech | LinkedIn -

https://www.linkedin.com/company/partstech/

PartsTech | Website -

https://partstech.com/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/.

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

How is embedded fintech transforming the landscape of vertical SaaS platforms and creating unparalleled opportunities for businesses? Uncover the future of financial services integration with insights from Seema Amble, Partner at Andreessen Horowitz. This episode explores the intricate dance of embedding financial technologies into software platforms, focusing on the strategic value and challenges that come with it.

Key Takeaways:

(02:28) Early interest in merging fintech with SaaS predates the current trend.

(04:56) Embedding fintech is complex and requires more than merely adding services.

(07:31) Highlighting operational challenges in embedding fintech services.

(08:37) Selection of fintech services should align with the core offerings of the platform.

(10:12) Examples of successful embedded fintech that enhance SaaS platforms’ core value.

(11:05) Shopify enhances value with embedded banking and lending.

(11:45) The right timing for SaaS companies to offer fintech products.

(12:14) Matching fintech products with customer needs and familiarity.

(13:23) Selling fintech to new versus existing customers.

(14:59) Discussing “minimum delightful product” versus full development.

(17:57) Addressing risks and compliance in embedding fintech.

(21:49) Excitement about AI in professional services and of new companies leveraging data.

Resources Mentioned:

Seema Amble -

https://www.linkedin.com/in/seema-amble-b404126/

Andreessen Horowitz | LinkedIn -

https://www.linkedin.com/company/a16z/

Andreessen Horowitz | Website -

https://a16z.com/

My First 16 Podcast -

https://a16z.com/podcasts/myfirst16/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

Navigating the maze of health insurance can be a daunting challenge for small businesses, but it’s a critical cornerstone for their growth and employee well-being. This episode features an informative conversation with Will Young, CEO and Co-Founder of Sana Benefits. He breaks down the intricacies of reshaping health plans to be more accessible and effective for small enterprises.

Key Takeaways: 

(02:06) Addressing health insurance as a major pain point for small businesses was the motivation behind starting Sana.

(02:39) Building a virtual primary care practice to enhance the healthcare experience.

(03:59) The shift toward value-based care models in healthcare is worthy of discussion.

(05:44) Trends in the health insurance market, including the rise in healthcare’s share of GDP.

(08:32) Sana’s focus is on small businesses and their unique needs.

(10:09) Efforts to transform patient experience through exceptional customer service and virtual care.

(11:34) A strategy for treating any provider as in-network to simplify processes for members.

(16:02) The role of brokers in the health insurance market and Sana’s relationship with them.

(21:30) Insight into Sana’s product strategy, focusing on healthcare.

(24:59) Will shares advice for starting a business in regulated industries.

Resources Mentioned:

Will Young -

https://www.linkedin.com/in/williamcyoung/

Sana Benefits | LinkedIn -

https://www.linkedin.com/company/sana-benefits/

Sana Benefits | Website -

https://www.sanabenefits.com/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/.

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

This episode of The SMB Tech Innovators Podcast is brought to you by Gusto. Gusto has spent a decade building and testing its payroll, tax filing, and compliance infrastructure, which is available as a robust set of APIs so you can develop custom-tailored payroll solutions.

For more information, go to https://gusto.com/.

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

Picture a world where finance and technology intersect, creating a dynamic landscape ripe for innovation and challenge. 

Zack Miller, Founder and Managing Editor of Tearsheet, uses his years of experience and insights to unravel the complexities of this world, guiding us through the evolution of financial technology and the crucial role of seasoned leaders in steering hyperscaling companies.

Key Takeaways: 

(02:26) Tearsheet’s evolution and incumbent innovation focus.

(03:06) Traditional finance and fintech partnership necessity.

(05:19) Tearsheet’s audience-centric business and storytelling model.

(07:57) Regulatory hurdles for fintech entrepreneurs.

(10:37) SMB hesitance in changing financial providers.

(13:54) Embedded tools shaping SMB technology’s future.

(17:36) Intuit and QuickBooks’ ecosystem success.

(21:46) Essential partnership skills in fintech.

(23:36) Value of experienced managers in fintech.

(25:36) Zack’s view on AI, quantum computing and crypto in finance.

(28:22) Banks adapting to new tech and trends.

(29:04) The state of fintech acquisitions and market challenges.

Resources Mentioned:

Zack Miller -

https://www.linkedin.com/in/zackmiller/

Tearsheet | LinkedIn -

https://www.linkedin.com/company/tearsheet/

Tearsheet Podcast: Exploring Financial Services Together -

https://tearsheet.co/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/.

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

This episode of The SMB Tech Innovators Podcast is brought to you by Gusto. Gusto has spent a decade building and testing its payroll, tax filing, and compliance infrastructure, which is available as a robust set of APIs so you can develop custom-tailored payroll solutions.

For more information, go to https://gusto.com/.

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

How is artificial intelligence reshaping the landscape of small business finance? In this episode, Lilac Bar David, Co-Founder and CEO of Lili, unveils how AI is simplifying and revolutionizing financial management for small business owners. Through a journey through Lili’s unique approach, Lilac highlights the transformative impact of integrating banking and accounting and the power of AI in making financial operations more efficient and accessible.

Key Takeaways:

(02:39) The high consumer expectations in banking services.

(04:28) Lili’s mission — to simplify small business financial management.

(06:37) Addressing the unique challenges of small business owners.

(07:15) Overcoming financial management hurdles in small businesses.

(08:47) The synergy of banking and accounting in Lili.

(10:29) AI’s role in automating financial management. 

(14:04) The strategy behind building vs. buying technology for Lili. 

(16:08) Lili’s plans, including accounting and tax focus.

(20:04) Designing Lili for inclusivity, particularly for female entrepreneurs.

(22:52) Advice for fintech founders on navigating regulatory challenges.

Resources Mentioned:

Lilac Bar David -

https://www.linkedin.com/in/lilachbardavid/

Lili | LinkedIn -

https://www.linkedin.com/company/hellofromlili/

Lili | Website -

https://lili.co/

Pepper -

https://www.pepper.co.il/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/.

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button, and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

As the healthcare industry navigates an era of unprecedented technological advancement, Andrea Kowalski, Founding Member of Chief and Former SVP of Products at Tebra, discusses the intricacies of innovating in a sector that affects everyone’s lives on the first episode of 2024. From her initial aspirations in the medical field to leading the charge in healthcare tech, Andrea’s journey offers valuable lessons and predictions for the future of healthcare.

Key Takeaways:

(03:35)  An overview of Tebra, the healthcare software platform.

(05:24)  Trends in healthcare: independent providers and consolidation in health systems.

(06:56)  The importance of end-to-end platforms in healthcare.

(08:41)  A discussion of patient experience and outcomes in healthcare technology.

(11:38)  Challenges and lessons created from merging two companies to form Tebra.

(14:10)  Strategies for integrating different teams and technologies in a merged company.

(18:31)  Embedded fintech opportunities in healthcare.

(23:48)  Ethical implications of aggregating and analyzing patient data.

(26:22)  Advice for new healthcare tech innovators and future trends.

Resources Mentioned:

Andrea Kowalski -

https://www.linkedin.com/in/andrea-kowalski/

Chief -

https://www.linkedin.com/company/joinchief/

Tebra -

https://www.linkedin.com/company/tebra/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

Is your small business banking experience disconnected and cumbersome? In this episode, Eytan Bensoussan, CEO and Co-Founder of NorthOne, explores solutions for the challenges small businesses face in banking. Eytan, leveraging his expertise in finance and technology, sheds light on innovative strategies to streamline banking processes for small businesses.

Key Takeaways:

(02:19) Trend of connecting back-office processes in mid-market companies.

(03:11) Disconnected systems in small businesses and the concept behind NorthOne.

(04:16) NorthOne's market differentiation as a connected bank account for small businesses.

(07:04) Streamlining banking processes for business owners.

(10:08) Challenges and strategies in launching NorthOne.

(14:37) Changes in the fintech macro environment, including venture capital.

(18:16) Using customer data to focus on profitable and engaged segments.

(21:01) Evolving competition in banking and digital offerings by traditional banks.

(24:27) Core technology trends impacting banking today.

Resources Mentioned:

Eytan Bensoussan -

https://www.linkedin.com/in/eytanbensoussan/?originalSubdomain=ca

NorthOne | LinkedIn -

https://www.linkedin.com/company/northone/

NorthOne | Website -

https://www.northone.com/

McKinsey & Company -

https://www.mckinsey.com/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

Discover how FreshBooks is transforming the landscape of accounting for small businesses on this episode. Mara Reiff, Chief Customer Officer and Interim Co-CEO of FreshBooks, discusses the journey from traditional invoicing to innovative, cloud-based accounting solutions that prioritize ease of use and customer engagement.

Key Takeaways:

(00:56) Mara’s journey to FreshBooks and her diverse career background.

(03:39) FreshBooks' unique owner-first approach to accounting software.

(04:11) The evolution from a simple invoicing platform to comprehensive accounting services.

(05:06) Introduction of collaborative accounting in FreshBooks.

(08:31) FreshBooks' strategy in technology partnerships and embedded technologies.

(13:04) The impactful role of AI for small businesses, according to FreshBooks' study.

(17:35) The significance of actionable insights over 'dinner-party data.'

(21:50) Strategies to enhance customer experience through effortless interactions.

Resources Mentioned:

Mara Reiff -

https://www.linkedin.com/in/marareiff/

FreshBooks | LinkedIn -

https://www.linkedin.com/company/freshbooks/

FreshBooks | Website -

https://www.freshbooks.com/

Mara Reiff's LinkedIn -

https://www.linkedin.com/in/marareiff/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

In today's digital age, the business ecosystem is rapidly evolving. With the rise of closed and open platforms, companies are faced with a myriad of choices. But which model serves the broader segment of small businesses better?

Greg Ott, CEO of Nav Technologies, Inc., delves deep into the nuances of the open platform model and its significance in the current business landscape. He shares invaluable insights on how the open ecosystem can cater to the diverse needs of small businesses, emphasizing the importance of transparency, efficiency and customer-centric solutions. 

Key Takeaways:

(07:45) The challenges and limitations of closed ecosystems.

(12:30) Nav's unique approach: Championing the open platform model.

(16:20) The critical role of transparency and efficiency in open ecosystems.

(22:07) The importance of building embedded fintech based on customer insights.

(23:54) The debate: Verticalized versus generalized solutions in the business ecosystem.

(25:17) The strategy of consolidation and its potential benefits for newcomers in the ecosystem.

Resources Mentioned:

Greg Ott -

https://www.linkedin.com/in/gregott/

Nav Technologies, Inc. | LinkedIn -

https://www.linkedin.com/company/navsmb/

Nav | Website -

https://www.nav.com/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

This episode of The SMB Tech Innovators Podcast is brought to you by Gusto. Gusto has spent a decade building and testing its payroll, tax filing, and compliance infrastructure, which is available as a robust set of APIs so you can develop custom-tailored payroll solutions.

For more information, go to https://gusto.com/

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness

In a world where software is evolving at an unprecedented rate, how does HR keep up? Instead of traditional HR methods, there are now advanced HR tools. Instead of isolated data, there are integrated ecosystems. Managing employee performance and payroll from a single platform is becoming the norm.

On this episode, Jack Altman, Co-Founder and CEO of Lattice, discusses the rapidly changing landscape of HR tools and the significance of creating platforms that prioritize both adaptability and user experience. 

Key Takeaways:

(07:01) The dynamic nature of companies and the pivotal role of customer experience in Lattice's strategy.

(07:29) The emergence of embedded HR tools and the transition towards an open ecosystem.

(08:16) Embedded payroll and the myriad benefits of a unified tech stack.

(10:25) The essence of integrations and Lattice's approach to prioritizing them.

(11:30) The untapped potential of data in HR.

(15:31) The indispensable human element in HR and the delicate balance between data and intuition.

(16:56) The nuances between horizontal and vertical SaaS.

(19:52) Jack’s advice to budding founders on the transition to a multi-product offering, emphasizing strategic considerations.

Resources Mentioned:

Jack Altman -

https://www.linkedin.com/in/jackealtman/

Lattice | LinkedIn -

https://www.linkedin.com/company/lattice-hq/

Lattice HRIS | Website -

https://lattice.com/

Gusto Embedded -

https://embedded.gusto.com/

Any specific guest you’d like to hear on the show? Leave your suggestions at https://www.smbtechinnovators.com/

Thanks for listening to SMB Tech Innovators, powered by Gusto | Embedded Finance, Vertical SaaS, Payroll API. If you enjoyed this episode, hit the subscribe button and never miss another insightful conversation. And be sure to leave a review to help get the word out about the show.

This episode of The SMB Tech Innovators Podcast is brought to you by Gusto. Gusto has spent a decade building and testing its payroll, tax filing, and compliance infrastructure, which is available as a robust set of APIs so you can develop custom-tailored payroll solutions.

For more information, go to https://gusto.com/

#SMB #Fintech #Innovation #Saas #HR #Payroll #SmallBusiness