Revenue Focused Organizational Development

  In the past few years, "Revenue Operations" (RevOps) has exploded in popularity. However, if someone on your RevOps team doesn’t have a solid grasp of how revenue is calculated, recognized, and accounted for on financial statements and board decks, you might want to reconsider calling yourselves RevOps. As someone who has spent over 80% of my 10+ years of experience focused on revenue—and having adopted the title of Revenue Operations Consultant as early as 2017—I’ve observed a growing trend: the term “RevOps” is often confused with marketing ops or sales ops. Many will argue that customer success falls under this umbrella too, but in my experience, the sales operations function has always encompassed both sales and customer success operations. The full revenue cycle is Lead to Cash. Various departments and roles contribute to this process—from operational roles to functional executors like sales reps and demand generation teams. However, the ambiguity around the term “RevO...

Building a groundbreaking product? That's great! But have you considered how customers will pay and how your company will invoice them? Ignoring these details can turn your business operations into a chaotic game of monopoly. In my experience, I’ve seen visionary founders create extraordinary products, only to have their operational efficiency crumble once they start selling. It's like navigating the busy streets of New Delhi—things may seem to be moving fine, but near-collisions are inevitable, and newcomers struggle to adjust. Many software products begin as a blend of ideas, code, and marketing pitches. Early-stage models might include basic billing functions or connect to third-party processors. However, they often lack the advanced financial functionalities needed for scaling, such as advanced billing, forecasting, refunds, payment disputes, and collections. This setup might work initially, but as the company grows, these makeshift billing solutions quickly fall apart. Com...

Recently, I came across this article in Fast Company about employers valuing soft skills in the age of AI, and it got my mind spinning about where we are heading as a society. Here are my thoughts. In an era where talks of AI potentially replacing jobs are rampant, where there's a perceived decline in problem-solving skills sans technology among the new workforce entrants, a scarcity in accounting talent, and even falling birth rates, it’s clear that these conversations are more than just casual banter. They are interconnected, highlighting a significant shift in our societal fabric and evolution. At the heart of these transitions is our adaptability to the dynamic environment that encapsulates us. Rather than resisting the inevitable flow of change, the secret lies in mastering the art of navigating through it. It’s about transcending conventional boundaries and seizing opportunities within our vulnerabilities. After all, hasn’t capitalism, with all its allure, shaped much of our ...

  In my collaborations with accounting teams to streamline operations, we frequently rely on mass communications to inform the Company and our colleagues . Let's face it, while we excel at deciphering numbers, crafting compelling messages may not be our forte. Fortunately, with today's technology, you can reclaim hours of your time and unwind from the pressure of tackling unfamiliar tasks. Although these tools don't provide complete solutions, they offer a robust starting point. Below, you'll find three ideas on how to leverage ChatGPT for accounting communication purposes. Crafting Communication for Outstanding Payments Prompt: Assist me in composing an email to our clients informing them of overdue payments, encouraging electronic payments, and providing payment details.  Here's a template ChatGPT provided: Subject: Immediate Action Required - Overdue Payment Notice and Update on Payment Methods Dear [Customer Name], I hope this message finds you well. We are re...

Business decisions are hard, but that is also the beauty of business - the conflicting opinions can grow some really wonderful products, services, and overall changes for our lives and the world. Everyone has an opinion, which makes managing expectations about hierarchy crucial. This hierarchy goes beyond just the management team; it encompasses who has the most knowledge, risk, and relation to the decision. Historically, much of this responsibility fell onto the CFO and their teams. However, In recent times, the CFO role is expanding, and many accounting and finance professionals can grow into a CFO position or highly supportive positions, such as a CAO by learning a few critical soft skills.  A study by EY found that 80% of HR and financial professionals interviewed agreed that their roles had become increasingly collaborative over the previous three years.  The AICPA in partnership with CMA and Wharton Business Consulting published an article to shed light on finance leader...

Many people immediately react with fear that their job will be replaced and they will become obsolete. However, in reality, AI presents an opportunity for us to reclaim our time without sacrificing productivity. AI allows us to streamline our work processes and accomplish tasks more efficiently. Nevertheless, it is crucial for us to be mindful of how we utilize this newfound time. While it may be tempting to take on additional strategic tasks or expand our responsibilities, we must also recognize the need to restore balance in our lives. The demands placed on employees in the corporate world, including accounting and beyond, have reached unsustainable levels. We have grown accustomed to this high-pressure environment, considering it the norm. But I challenge you to question this status quo. Why should we continue down this path if we are only going to become further entrenched in the demands of work? Instead, I propose that we leverage AI to handle repetitive, predictable, and time-con...

When considering purchasing a revenue system or any financial accounting system, there are several things to think about. Here are some tips to help you navigate the process:  Brainstorm and prioritize your requirements:  Take the time to brainstorm with your team or yourself and write down all the things you want the system to automate. Include everyone up to the CFO, if possible, to ensure you capture all requirements. This will also help get people on board with the importance of automation and alignment in the purchase of the system. Once you have all the requirements, organize them into a prioritized list to guide your evaluation process.  Identify collaborators:  Map out the list of requirements to determine who and what you need to collaborate with internally to effectively purchase and implement the system. If you have a financial systems department, involve them in the evaluation process. If not, take on the role of project manager yourself. Reach out to the...