#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance #TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance Managing the Transformation of Technological Change Brian Kinion, VP Finance at Marketo
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Managing the Transformation of Technological Change
Brian Kinion, VP Finance at Marketo, gives a keynote address at Armanino's Sixth Annual Technology Forum. He discussed moving from IPO to acquisition, the growing pains, the IT challenges and other topics pertinent to the financial organization.
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#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
Managing the Transformation
of Technological Change
Brian Kinion, VP Finance at Marketo
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by
• Prior Experience
• SuccessFactors
o Cloud transformation
o Significant growth
o Multiple challenges
Shifting to the Cloud from On Premise
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by
Move to business leadership
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
SuccessFactors From IPO (2007) to
SAP Acquisition (2012)
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by The challenges………
and solutions
1. Transaction
Management
2. Controlling
the Business
4. Integrated Functional Excellence 3.
Planning and Analysis
Challenge: Number of Transactions
Challenge: Consistent process excellence
Challenge: Talent & Insightful Value Drivers
Challenge: Leadership & Performance Management
Source: slide 34
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by Our business requirements continued
to exceed our technical capacity
2007 2008 2008 2009 2010 2011 2012
IPO Early Follow-on Offering Reductions in Staff
3 Acquisitions and EITF 08-01
Plateau Acquisition
Planned Growth Acquisitions and Federal
Technical Capacity
Business Requirements
People, Process, Systems
GAP to close
gap
gap
gap gap
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by
IT Challenges
• CIO organization view of
departments owning,
implementing and
administrating their own
systems created “siloed
information” and master data
management issues
• Lack of integrated systems
• Lack of documented
process/policy
• Heavy reliance on Excel
Growing Pains: 2007
• IPO by “brute force” and “sheer
determination”
• Buried in transactions and
manual processes
• Significant deficiencies and
material weaknesses to
address
• Long-term under investment in
G&A functions
• Rebuilding financials while
being audited
Need to create order out of the chaos
and close the initial gaps
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by
System/process improvements while nailing
Transactions/Compliance/Control and becoming more efficient
• Noise level dramatically reduced with regard to transaction errors
• Added additional technical capacity across finance organization
• Addressed and remediated significant deficiencies/material weaknesses
• Added in-house NetSuite expertise and various system/process
improvements
• Reduced reliance on Excel
• Decreased day to close
• Completed two follow-on offerings
• Completed and integrated multiple acquisitions
• Changed audit firms and navigated an SEC comment letter
Making progress (2008 to mid 2011)
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by Systems improvements were helping
BUT...
• A/P workflow/process review; to reduce headcount/increase volume with Coupa
• US Concur roll-out with integrated credit card program (2010)
Procure to Pay
• Lockbox implemented for collections (2008)
• CRM transition from SFDC to Seibel to SFDC (Q209)
• Big Machines (quotes) (Q309); previously in Excel w/ manual approvals
• Avalara (sales tax) module (Q309); previously not charged/manual reserve
• Xactly (commissions) (Q109); previously in Excel
• OpenAir Implementation (Q210)
• EITF RevRec Module (Q310); support of EITF 08-01 adoption
Quote to Cash
• EquityEdge live (2007); previous in eProsper
• Switched from ADP to Ceridian payroll (2009)
Payroll and Equity
• Hyperion Planning (2008) to Host Analytics (2011)
• FAS (fixed assets) system (Q208); previously in Excel
• Netsuite cash reconciliations implemented (Q208); previously in Excel
• Clearwater (treasury analytics) system (Q308)
• Netsuite stabilization (2009-2010) and brought system administration in-house
• OneWorld (consolidation) module (2009); previously in Excel
• Consolidated # of outsourced International Accountants with Nair (2009)
Record to Report
#TECH4CFO Existing and Emerging Technology: How Strategic CFOs Are Transforming Finance
presented by
New Demands + New Idea = New Organization
• All the system/process improvements were done while we were doing our
day jobs
• Rapid growth and additional acquisitions raised more infrastructure
questions and if our current system landscape would scale
• Built business case for technology transformation and focused team to
make it happen
• Had established relationships existed across the enterprise which we
leveraged for cross functional system/process improvements
• Hired “black belts” and process oriented staff who brought new skill sets
such as project management/change enablement/training
• Built key dashboards in NetSuite for increased visibility to business