Thread by @YourCFOGuy

The CFO Tech Stack

After working with 100+ companies in my career...

I've tried just about every tool out there.

These tools will help you do your job:
→ with more accuracy
→ with more efficiency
→ with less resources

Let's do a walk through each category🧵

Accounting & ERP

Let's start with the most relevant software - your Accounting Software / ERP

I see a lot of companies start off with QBO...

and I'm generally a big fan

Once you get sophisticated enough, you can move to Netsuite

These 2 dominate this space https://t.co/LPcsRa2d7Itwitter.com/i/web/status/1…

Payroll & HRIS

Next must have tool is your payroll & HRIS platform

No one processes payroll by hand these days

My favorite is Justworks & Rippling, as they both are a PEO, saving you tons of headache

Gusto is a good option if you want cost savings, but not an ERP https://t.co/4KX97I7aPbtwitter.com/i/web/status/1…

Accounts Payable

Pretty much every company has AP

And some are still processing from their bank...

or worse...a check 🤮

With an AP platform you can:
→ Upload bills from your inbox
→ Sync to your Accounting software
→ collect approvals
→ process payments seamlessly https://t.co/q0jQ4gxB41twitter.com/i/web/status/1…

Expense Reimbursements

Companies love paying for things on their personal cards...

so everyone can get CC points.

The key with a software like this is you need to be able to:
→ upload receipts
→ create expense reports
→ approve
→ reimburse https://t.co/sv0cCArI1Utwitter.com/i/web/status/1…

Virtual Credit Cards

This is my favorite tool...

Instead of expense reimbursements, give your employees a virtual CC

Here you can:
→ Create new cards
→ Set Limits
→ Destroy Cards

All in a matter of seconds... https://t.co/7iFfl4mEz7twitter.com/i/web/status/1…

Tax and Legal

The govt loves making it complicated and a pain in the @$$ to pay your taxes

But these companies make it easier for you...

especially with sales tax

I lumped in Carta into this category, as they are a key piece in your legal stack...& are the cap table leaders https://t.co/ptf1UHGwD4twitter.com/i/web/status/1…

Banking & Treasury

OK...we all remember what happened to SVB 🫣

But surprisingly, many startups are still using them...without any issue

There are a bunch of big players (like JP Morgan)...

And tech enabled solutions (like Stripe, Rho, and Mercury) https://t.co/N2RJ2LblZntwitter.com/i/web/status/1…

Revenue & Contract Management

Got more than 40 contracts?

Don't make the mistake of managing all of that in Excel

With these tools, you can recognize your saas metrics, along with your revenue / deferred revenue with ease. https://t.co/wdbmUqTLv4twitter.com/i/web/status/1…

General Tech Stack

Then there are countless tools that are vital in any org...

and a good CFO has a good handle on each of these tools, and the cost savings associated https://t.co/jU1HxccWu7twitter.com/i/web/status/1…

What are my favorite tools?

Well, I work with early stage startups...and what I recommend is:

• Accounting Software - QBO
• Payroll - Justworks
• CC / AP / Expense Reimbursement - Ramp (it's also free)
• Banking - Chase
• Sales tax mgmt - Avalara
• Revenue mgmt - Maxio

And that's a wrap! To be added next time: FP&A tools

What else would you add?

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