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

Interested in knowing what the best financial apps/platforms are currently being used by CFOs.

13 Replies

Andrew Lockley
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Andrew Lockley Advisor
Investor and strategy consultant
Xero
David Johnson
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David Johnson Entrepreneur
CEO
NetSuite - We implement NetSuite for startups day one...


Erik Brieva
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Erik Brieva Advisor
CEO, Advisor, Investor, Innovator, Teacher
Strands BFM (Business Financial Management)
www.strands.com
Daniel Ice
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Daniel Ice Entrepreneur • Advisor
Founder at Commerce.io
@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
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David Johnson Entrepreneur
CEO
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.
Gopi Mattel
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Gopi Mattel Advisor
Director, Chennai Area at The Founder Institute
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.


Steve Weiss
2
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Steve Weiss Entrepreneur
Co-Founder and Advisor at LaunchCommand
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.
Victor Wale Aladekomo
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Victor Wale Aladekomo Entrepreneur
Partner at Pidux Limited
...Also check CloudSuite herehttp://www.infor.com/cloud/cloudsuite-corporate and someone mentioned Xero
David Johnson
1
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David Johnson Entrepreneur
CEO
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
1
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Daniel Ice Entrepreneur • Advisor
Founder at Commerce.io
David,

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

Daniel
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