The CFO Playbook

Top Automation Lessons from Finance Leaders

Listen Later

On this episode of The CFO Playbook, we share some of the best advice on technology and automation that we’ve received from recent guests.

Lessons we cover in this episode:

It’s key to build a structural foundation for finance upon automation and technology:

  1. Hyper growth companies view technology as the ‘engine room’ of growth and a critical foundation for scale.
  2. The days of thinking that automation is a “nice to have” are over.
  3. Building automation can be far more rewarding for teams than following a well-trodden playbook.



    4. Once you’ve laid the groundwork, with the right technology for your company:

    1. Be deliberate in determining which technology tools to invest in and why. Start by identifying your pain points.
    2. Automation increases efficiency and creates more time to harness strategic thinking.
    3. If done well, technology beats throwing headcount at a problem.


      4. Hiring and managing for automation is vital:

      1. Automation can be great for employee retention, but you have to hire the right employees to leverage the technology.
      2. Great managers should take advantage of the extra time automation allows to challenge and engage their finance team with creative, mission-critical problems.
      3. Over time, the skills and requirements of a finance team are shifting to meet the demands of technology-enabled businesses.


        4. The need for and benefits of automation aren’t going away anytime soon:

        1. Automation can help CFOs directly. Sharper forecasting, real-time cost controls, and fewer processes can create space for CFOs to focus on company strategy.
        2. With the CFO’s responsibilities increasing rapidly over time, automation allows for far more effective partnering with the CEO and the rest of the executive team. 


          3. Tune into the full episode to get all the best insights on leveraging technology and automation in finance.


          Connect with our host Ross on LinkedIn.

          If you want a better way to track and control your team’s spend, check out Soldo.com.

          Learn more about your ad choices. Visit megaphone.fm/adchoices

          ...more
          View all episodesView all episodes
          Download on the App Store
          The CFO PlaybookBy Soldo
          • 4.7
          • 4.7
          • 4.7
          • 4.7
          • 4.7

          4.7

          23 ratings

          More shows like The CFO Playbook

          View all
          This Week in Startups by Jason Calacanis

          This Week in Startups

          1,269 Listeners

          Masters in Business by Bloomberg

          Masters in Business

          2,181 Listeners

          CFO THOUGHT LEADER by The Future of Finance is Listening

          CFO THOUGHT LEADER

          120 Listeners

          Built to Sell Radio by John Warrillow

          Built to Sell Radio

          208 Listeners

          Tax Smart Real Estate Investors Podcast by Hall CPA

          Tax Smart Real Estate Investors Podcast

          417 Listeners

          Founders by David Senra

          Founders

          1,781 Listeners

          M&A Science by Kison Patel

          M&A Science

          123 Listeners

          Capital Allocators – Inside the Institutional Investment Industry by Ted Seides – Allocator and Asset Management Expert

          Capital Allocators – Inside the Institutional Investment Industry

          810 Listeners

          Inside the Strategy Room by McKinsey & Company

          Inside the Strategy Room

          174 Listeners

          My First Million by Hubspot Media

          My First Million

          2,598 Listeners

          All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

          All-In with Chamath, Jason, Sacks & Friedberg

          8,716 Listeners

          The Memo by Howard Marks by Oaktree Capital Management

          The Memo by Howard Marks

          409 Listeners

          The Modern CFO by Nth Round

          The Modern CFO

          11 Listeners

          The Morgan Housel Podcast by Morgan Housel

          The Morgan Housel Podcast

          944 Listeners

          HBR On Leadership by Harvard Business Review

          HBR On Leadership

          137 Listeners