As software and SaaS businesses navigate the complexities of AI, heightened investor expectations, and the challenges of scaling a high-growth model, the role of the CFO has become more critical than ever. There is a catalogue of new skills required for success that those looking to step up and take on their first CFO role can be looking to embrace and hone as they develop in their careers. Finatal hosted a breakfast event last month, led by industry leaders Guy Sochovsky (Farview Equity Partners) and Liam Symington (Marlin Equity Partners) who shared their expertise built up over collective decades in the sector. We have summarised some of the takeaways below.
Becoming a successful SaaS CFO requires more than just financial acumen. It demands a blend of strategic thinking, strong communication, and a deep understanding of the business.
Strategic thinking: Beyond a deep knowledge of the numbers, successful CFOs analyse financial data to uncover trends and opportunities. They can act as a counterbalance to the sometimes overly optimistic outlook of the business, providing a grounded perspective on routes to growth.
Effective communication: Clear, concise and consistent communication is vital for building trust and credibility. CFOs must be able to articulate complex financial information and deliver good and difficult news unambiguously to both internal and external stakeholders.
Problem-solving mindset: Proactive problem-solving is essential. CFOs should identify challenges early on, develop effective solutions, and foster a culture of continuous improvement within the organisation.
Deep industry knowledge: Understanding the unique metrics and challenges of the SaaS industry is crucial. A strong grasp of these markers enables CFOs to make informed decisions and drive business growth.
By honing these skills and adopting a CFO mindset, you can position yourself for success in today’s competitive landscape.
For more on the takeaways or if you’d like any further information on our upcoming events and how to attend, please get in touch with us.
