CFO · Startup finance

What apps/platforms do most CFOs recommend for their financial needs?

Karina Dealba-Klein

May 4th, 2015

Interested in knowing what the best financial apps/platforms are currently being used by CFOs.
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Steve Weiss Co-Founder and Advisor at LaunchCommand

May 5th, 2015

Quick Books is inexpensive and more then adequate for use by Start-Ups. I know of many companies that have used Quick Books from start-up through revenues exceeding $25 mill. A SV story goes that Seagate used Quick Books with revenues up to $100 mill.  

Andrew Lockley

May 4th, 2015

Xero

David Johnson CEO

May 4th, 2015

NetSuite - We implement NetSuite for startups day one...


Erik Brieva CEO, Advisor, Investor, Innovator, Teacher

May 4th, 2015

Strands BFM (Business Financial Management) 
www.strands.com

Daniel Ice

May 4th, 2015

@David Johnson would you recommend NetSuite for a SAAS business? Also, NetSuite is quite expensive (I have been quoted 50k a year + 50k in prof services), is there a threshold that you recommend people cross before considering it?

David Johnson CEO

May 4th, 2015

Yes, NetSuite is great for SaaS companies.  We are a channel partner with NetSuite.  Through our BPO program can get early stage companies on NetSuite at a reasonable cost.

MaxBlox/Founder Institute Director, Chennai Area at The Founder Institute

May 4th, 2015

I would recommend not spending a lot of money on accounting systems in the early days of the company.  It is a waste of money.   I have been running a 75 person international company with multiple locations on QuickBooks for a number of years, just fine.
QuickBooks Enterprise may be more than enough for most companies for a while. Your accountant can take care of revenue recognition activities.
For subscription ( SaaS ) related activities, I would splurge a little on solutions like Zuora a little later. This will help you with more than accounting. It will help you with churn management.


Victor Aladekomo Partner at Pidux Limited

May 5th, 2015

...Also check CloudSuite herehttp://www.infor.com/cloud/cloudsuite-corporate and someone mentioned Xero

David Johnson CEO

May 5th, 2015

The longer you wait to transition from QuickBooks the more costly it will be.  If you have revenue and are growing, now is a good time to transition to a more robust accounting software.  It will payoff in the long run.

Daniel Ice

May 5th, 2015

David,

Lots of people talk about the need for something better than Quickbooks. What are these tools doing that Quickbooks isn't doing.

Daniel