Q1. Does hiring FutureView preclude the need for a CFO.
No, although FutureView can extend the period that a Company can operate effectively without a CFO. We also believe that having FutureView on board will increase the likelihood you’re your new CFO is successful.
Q2. We are getting by with Excel and maintaining a master spreadsheet. What is wrong with this approach?
Excel is a wonderful tool, but it is not scalable on a standalone basis. Maintaining your data in Excel introduces a high potential for error and there are always version control issues. Financial insights come from integrating systems in a replicable way – so that the emphasis is on analyzing trusted data, rather than on amalgamating spreadsheets.
Q3. We are a SaaS Company and have plenty of engineers. Can’t they just build a data warehouse for our finance data?
Engineers can build the pipes and move data around, but they usually can’t maintain them in a timely fashion. When faced with a choice between resolving an internal data issue or a newly-discovered bug in the platform, the platform bug (appropriately) takes priority. In addition, engineers usually don’t understand the nuances of the data in each system in a way that allows them to help strategically leverage the data for financial purposes. In our experience, few software engineers at a technology company understand (or are very interested) in how a GL system’s data structure connects to the platform. Besides, you want your best engineers focused on building and maintaining your product, not on internal business operations.
Q4. How Does FutureView Charge for Its Services?
FutureView charges for utilization of its shared service platform on a subscription basis. These fees depend upon the extent of the services required by a Company. In addition, we charge an implementation fee equal to one month’s service.