Our Conversation With The Founder Of Possibleworks

About Vamshi & his company

• Serial entrepreneur - Founder of multiple companies like Ask Your Deal Procurement and PeopleCart (looks like many of them were funded)

• Mentor and investor in various startups too

• Worked as National director of EY's IB Division!!

• PossibleWorks is an OKR-based Agile Performance Management System for Performance Reviews, Performance Appraisals, and Continuous Feedback. They do this by aligning employee goals to company priorities

Top problems in Finance & Compliance

• Hiring a finance guy in-house

Regardless of how good he is, he can never be fully equipped and will always need external consultants for something or the other.

• Overspending

Since his earlier startup got a good exit, the company had enough liquidity, so they spent a little more than what they ideally should have!

Best Practices

• Outsourcing everything to an ex Big-4 CA who is starting his practice

The advantage of this is - Expertise @ affordable price

• Using Zoho Books + Customer Success Box + Contract Book to get reports

Since the number of customers is in double digits, the CEO knows what exactly is happening wrt a particular customer. By default, a lot of SaaS Metrics become irrelevant or redundant! (though they might be relevant for many other startups)

• It's important for founders to keep linking each element of cost to corresponding revenue!

Time Spent

1/12th of the time (around half an hour a week reviewing the excel sheets/reports prepared by the Customer success, HR or other teams!

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