Kruze Consulting’s Jim Gellas, VP of Finance, was recently interviewed on Procurify’s Spend Culture Stories podcast. Spend Culture is a podcast that helps startup leaders pick the right strategies and tactics to build a successful finance team and process. You can listen to the interview with Jim Gellas here, or check out some of the highlights below.
Jim talks about the main role of a CFO in a fast-growing company as being “strategic leader, the protector, and the accountant.” He goes on to talk about how a CFO should be there to help counterbalance and evaluate the CEO’s strategic thinking, helping to make sure that it is grounded in the reality of the company’s resources.
Jim Gellas on Kruze Consulting’s role
He also talks a lot about what Kruze Consulting’s CFOs do for our clients. Helping on runway, optimizing the company’s financial position, understand the relationship with the startup’s venture capitalists, improving the company’s procurement process. Jim also advises companies who have just raised financing to “to operate with that spending discipline early on without having to go through that gauntlet of almost losing all your cash and going out of business.”
Another point made by him is about our firm’s role as the outsourced finance function for early-stage companies. He goes into some of the services we offer startups, such as startup bookkeeping, burn management, financial projections, and more. (We believe that Kruze is the best one-stop shop for early-stage companies looking for Accounting, Finance, HR and Tax advice! Click here to schedule time to talk with us!)
Another topic he is asked about is now technology is impacting accountants’ roles. He explains how there are major changes in the accounting industry, and explains that a new breed of CPAs are embracing technology to connect systems and automation. “And this is a shift in mindset for accountants who really were debit equals credit and producing financial statements. And now all of a sudden, a sophisticated, capable finance professional suddenly has to be tech-savvy and tech-oriented as well.”
Finally, he talks more about procurement software, which is Procurify’s main offering. In particular, something Jim has found to be very important with procurement software is making sure that the data flows from one system to the next - there is no need for startups to have to deal with manual data entry and the errors that go with it. “Right now, it’s 2019 and there is no reason at all for people to be keying in data from one system into another. Our system should be talking, they should be connected. Let the APIs and the servers do the heavy lifting. You want to make sure everyone plays nicely together on the playground of your tech stack.”
Listen to the Podcast
You can also listen to the podcast right here: