Finance Freebie Friday

Welcome to Finance Freebie Fridays where I provide a virtual open office hours for business CFO questions.

I try to suggest a weekly topic to get the ball rolling but ask anything.

While I continue to have multiple meetings and conversations weekly with female founders about the difference between various accounting roles, scroll down to read about that in my last post! 👇🏼

This week I'd like to chat about software stack. While not obvious as how that relates to your business finances - it does! The software stack is the combination of apps that you are using to run your business.

ALL ASPECTS OF YOUR BUSINESS RUN THROUGH THE FINANCE DEPARTMENT

... whether you know it or not 🤓

• You're selling something - you need to know if you're selling it for a profit

• You pay bills (do you have enough $$$?)

• You collect money from clients/customers (are you getting it all, and on time?)

• You buy things in order to deliver/sell

• The best - you pay yourself and your team 👯‍♀️

etc.

You need the right apps to handle every function in the company, and have it flow the correct information into your finance app. You need it handle it all without doing unnecessary double entry work. Double work is prone to errors, and frankly, why use that time up when you could be doing something more valuable with those hours?

For fast growth, use software to do the heavy lifting so that you can use the limited time and energy that you have to do the more energy-consuming tasks (like finding more opportunities for growth).

Are you stoked about your software stack? Do you struggle with putting the right ones together? Did this hopefully bring out an "aha" moment? 💡

Happy to chat and brainstorm!

Have a great weekend! Kirsten