By David Appel, Head of Software & SaaS at Sage Intacct
Technology adoption in today’s world has rapidly evolved from being a “nice-to-have” to becoming a “must-have” for finance teams at successful SaaS organizations. Great CFOs and Controllers, like Michael Chernoff, 2020 Controller of the year by the controller council, understand that implementing the right FinOps tech stack is key to achieving business growth, increasing efficiency and optimizing processes such as frictionless recurring billing, and automated ASC 606 revenue recognition.
Think about your FinOps tech stack like a football team. If you are like me (and know very little about football), you probably know at least this much – a football team requires synergy across all team members with everyone pulling their weight for the best chance to meet their goal – a Championship. Similarly, in the world of finance, having the right financial system and automations in place could save you time, money and yield a much higher return on your investment. That’s the goal, isn’t it?
As you consider what the best-in-class FinOps tech stack means for your business, start by thinking through these 3 important questions: