AcctTwo Blog

The preparation required to raise capital is one of the hardest things a founder can do and it will consume a significant amount of your time. Given what we are experiencing with COVID-19, it is even more challenging. Interestingly, today “the biggest change lies in not the money itself, but the appetite for uncertainty. Most investors are going to be more cautious currently, which will require some form of uncertainty premium as a part of the terms. One way to ensure that you can raise money confidently in this time is to get intimately familiar with cash flow on a day-to-day, week-to-week basis.” 

No matter the size of your company, there is nothing more critical than the ability to generate and manage cash. Cash is the lifeblood of the company; and the most critical factor in survival. Nearly 40% of startups fail because of financial challenges; and while that number certainly has the potential to grow with COVID-19, we want to share some practical cash management advice to not only weather this unprecedented time, but also put in place responsible cash management practices that will serve you well now and in the future, such as the ability to create a SaaS cash flow forecast.

How Modern SaaS Finance Software Helps with Sound Transaction Management

At AcctTwo, when we refer to Sound Transaction Management we mean setting up the right chart of accounts, optimizing the order-to-cash and procure-to-pay processes, and capturing all the relevant information in the right place. With the right SaaS finance software, you can have a dimensional chart of accounts as the core of many enabling functions that lead to predictable growth. In this on-demand Webinar, hear from a CFO and a Founder about sound transaction management.

The Extend Your Runway Webinar series was led and moderated by Marcus Wagner. During the SaaS Finance and Accounting Playbook Overview and Proactive Planning webinar, Marcus stepped through the first element of AcctTwo’s Accounting and Finance Playbook - Proactive Planning. Proactive Planning is the iterative process of budgeting and re-forecasting based on real-time operational data and market dynamics.

We were living in early COVID days when we wrote our eBook, Faith-Based Nonprofit Succession Planning for the Back-Office. We had no idea what was going to happen, or how long it was going to last. We were just starting to talk about how COVID was impacting leaders and succession planning when we spoke to Todd Clark, Senior Associate in Senior Leadership at Slingshot Group, a leading nonprofit staffing and coaching agency. He told us, “In a post-COVID world I see significant changes in succession planning. I think that there will be unexpected resignations resulting in swiftly planned successions. The stress of the pandemic has been unprecedented. I predict that we’ll start to see leaders resigning in their 40s and early 50s to lead outside the church. Leading through 2020 has had the stress of 10 normal years. They aren’t going to have gas in the tank.”

Coming out of the pandemic, companies will need to bolster their business continuity, double down on risk management, embrace digital transformation, and learn what-if scenario modeling (all topics we’ve explored in-depth recently). None of those efforts matter, however, if there are cracks which require a better business model.

AcctTwo Hosts Faith-Based Virtual Event Scheduled for March 24-25, 2021

AcctTwo’s Faith-Based Finance Collaborative is designed to educate church and ministry leaders about what they need to know in 2021 to accelerate their mission and ministry, AcctTwo’s faith-based finance event will be held virtually.

For up-and-coming businesses, QuickBooks is usually the entry-level choice for financial software in the organization’s early days – and for many reasons. QuickBooks offers the basic functionality that almost any business needs to get off the ground.

However, successfully growing businesses quickly realize that what was good enough when they started out is now overshadowed by limitations and compromises. Here are the five challenges that cause CFOs to look for alternatives to QuickBooks Online.

What will your business look like coming out of the pandemic? You might think it’s too early to tell or that circumstances are out of your control, but this is no time to be passive. With the help of business continuity consulting, you can be prepared for whatever is next.

BetterSpaces focuses on growth and avoids the cost and time required to build and manage their own finance operations by subscribing to AcctTwo’s Managed Accounting Services.

Keith Angell, BetterSpaces’ Co-founder and CFO, was kind enough to sit down with Peter Wagner, AcctTwo’s Director of Marketing, to talk about what led him and BetterSpaces to outsource, rather than build, their finance function.