ROSE Insights: Can Your Finance Function Support Your Next Big Win?
Issue 130 - ROSE Insights: Can Your Finance Function Support Your Next Big Win?
The Contract You Can't Yet Support
A founder called me about the biggest win in her company's history. She had just won a contract that would push her business past $10M. Years of pursuit, and it finally landed. The team celebrated. Then the questions started. Could the current close handle a contract this size? Were the systems set up to track it the way the customer required? Who was going to build the reporting the new work demanded, and when? Underneath the celebration was a worry she could not shake. Here is what I told her, and what I want to tell you. The win did not create the problem. It revealed one that was already there...
Enterprise-Grade Finance Is No Longer Reserved for Enterprise Companies
For most of my career, the quality of a company's financial infrastructure was a function of its size. If you ran a Fortune 500, you had integrated systems, documented controls, a close that ran on a calendar instead of a prayer, and reporting your board could act on. If you ran a $10M company, you had QuickBooks, a few spreadsheets held together by one person who knew where everything lived, and a close that finished whenever it finished. That gap was accepted as the price of being small. It is not anymore...
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