Glean.ai

Accounting & FP&A are not the same Here’s a simple breakdown: Accounting: • Focuses on managing risk and accuracy • Records, maintains, and reports financial transactions • Creates detailed financial reports based on historical data • Ensures accuracy in financial statements and account balances • Closes books, tracks revenue, and handles internal/external reporting FP&A (Financial Planning & Analysis): • Adds value through business growth • Focuses on scenario planning and cost optimization. • Analyzes data and predicts future financial outcomes • Manages investments and strategic financial planning Both accounting and FP&A are highly valuable. Accounting closes the books; FP&A drives future strategy. Follow Howard Katzenberg for posts on scaling finance teams, maturing your FinOps stack, negotiating with vendors, and working with CFOs and other departments.

As a former CFO, I hated the chaos of managing vendor contracts: - Missed renewals - Unexpected auto-renewals - The constant juggling of dates and terms It's a headache we can all do without. Our new feature tackles these pain points head-on: Smart reminders: Never miss an opt-out period again Intuitive filters: Focus on what matters most, when it matters most Vendor Status tracking: Keep tabs on active and inactive relationships Priority reporting: See at a glance which contracts need immediate attention Comprehensive contract data: From payment frequency to auto-renewal status, all in one place This isn't just about features. It's about giving finance teams the power to make informed decisions and negotiate better terms. And at Glean.ai, we believe in learning from every experience. This feature was born from countless conversations with CFOs and finance leaders who shared their struggles. We listened, we learned, and we built a solution. P.S. If you want to learn more about how Glean.ai is revolutionizing accounts payable processes and vendor management, send me a DM.

A year ago, I made a commitment to post on LinkedIn daily Today, it's my go-to source for 4 things: 1. Building relationships 2. Attracting top talent 3. Getting inbound customers 4. Sharing the story of Glean.ai Here's why posting on LinkedIn is a game changer: 1. Attract customers By consistently posting content specific to the pain points and aspirations of our ideal customer profile (finance leaders at high-growth companies), we've been able to engage with our target audience on a deeper level. This has led to more qualified leads and stronger relationships with prospective clients. 2. Be authentic and give value Rather than simply promoting our product, I focused on sharing actionable insights, personal learnings, and industry trends that our audience can immediately apply to their work. This positions you as a trusted advisor. 3. Promote yourself Regular posting allows us to demonstrate the depth of our team's expertise in accounts payable automation, vendor spend optimization, and finance transformation. This builds credibility and trust, which are important for complex B2B sales. 4. Humanize your brand By sharing behind-the-scenes glimpses of our company culture, family-focused founder, and community involvement, we've been able to put a personal face on the Glean.ai brand. This makes us more relatable and memorable to our connections. 5. Attract new audience Each post on LinkedIn has the potential to be shared, commented on, and discovered by a wider audience. This multiplier effect helps us reach finance professionals we may not have connected with through traditional marketing channels. The key for this strategy to work is to approach it with 3 things: - Discipline - Creativity - A genuine desire to provide value And by doing so, we've been able to turn LinkedIn into a powerful growth engine for Glean.ai. I hope my lessons help someone out there. Send me a DM or comment below if you have any LinkedIn-related questions. -- P.S. I'm Howard Katzenberg, Before founding Glean.ai, I spent 10 years as CFO for two major fintechs (OnDeck and Better).

13 lies every new CFO hears: (in no particular order) 1. Compliance is someone else’s problem. 2. Forecasting accurately is just guesswork. 3. Micromanaging shows attention to detail. 4. The numbers always speak for themselves. 5. Risk management can wait—focus on profits. 6. Short-term gains justify ethical compromises. 7. Technology won’t improve financial operations. 8. A single bad hire won’t affect your finance team. 9. You have a budget problem, not a strategy problem. 10. Financial culture is just about cutting costs and ROI. 11. Everyone already understands your financial reports. 12. You don’t need to communicate with other departments. 13. Long-term strategy isn’t your concern—just hit the numbers now. What did I miss?

From Accountant to CFO (the fastest route) Level 1 - Know the fundamentals • Budgeting and forecasting • Corporate finance concepts • Financial analysis and ratios • Cost accounting and management • Financial statements (balance sheet, income statement, cash flow statement) Level 2 - Apply your knowledge • Analyze financial statements • Create a budget and financial forecast • Perform a comprehensive financial analysis • Conduct a cost analysis and recommend optimizations Level 3 - Expand your toolkit • Understand IT systems used in finance • Get familiar with ERP systems (e.g. SAP, Oracle) • Explore automation and AI tools for financial processes • Master data visualization (e.g. using Tableau or Power BI) Level 4 - Build leadership skills • Find a mentor in a CFO role • Lead a cross-functional project team • Hone your communication and people skills • Take on additional management responsibilities • Practice presenting financial information to non-finance audiences Level 5 - Strategic thinking • Participate in strategic planning sessions • Identify key value drivers for your company • Contribute to M&A and capital raise discussions • Deeply understand your industry and competitors • Propose new business opportunities and financial models Accountants, soon to be CFOs Remember, the role of the CFO is changing. It's no longer just about numbers, but about being a strategic partner and driving the business to success. So embrace this opportunity to make a real impact. Consider ♻️ reposting if you find this post valuable. h/t Howard Katzenberg -- P.S. I'm Wouter Born, a CFOTech entrepreneur, investor, and advisor. I'm also the co-founder of CXO Software (exit 2018) and former head of M&A at insightsoftware. I share daily CFOTech insights, business lessons, and personal learnings to help you get better at life and business. Join my newsletter if you're interested in getting high-level finance insights and leveraging AI → https://lnkd.in/dvAcXufs (coming soon.)

Keeping track of vendor contracts can be a pain. Our new Vendor Renewal Features are built to make it easier: ✅ Automatically track contract details like start dates and renewal terms in a single report ✅ Get proactive reminders on auto-renewal & termination dates ✅ Prioritize which relationships need action No more scrambling to meet contract deadlines or getting hit with unexpected renewals. Manage it all, stress-free. #VendorManagement #APAutomation

5 habits of highly effective CFOs: 1. They are knowledgeable, but not all-knowing Effective CFOs possess extensive financial knowledge but remain open to learning. They acknowledge their limitations and seek input from experts in various fields. This approach fosters collaboration and ensures well-rounded decision-making. 2. They optimize the finance function as a strategic partner These CFOs position finance as a strategic partner within the company. They align financial objectives with overall business goals, providing valuable insights that drive growth and profitability. Their teams actively contribute to strategic planning and execution. 3. They prioritize talent and succession planning within their teams Top CFOs invest in honing their team's skills and capabilities. They create solid and reliable succession plans, ensuring continuity in financial leadership. This focus on talent management strengthens the finance function and prepares future leaders. 4. They have a deep focus on cash flow Cash flow management is a top priority for successful CFOs. They maintain a keen eye on liquidity, working capital, and cash conversion cycles. This focus equips them to support business operations, fund growth initiatives, and navigate economic uncertainties. 5. They leverage data and analytics Leading CFOs take advantage of the power of data and analytics to drive decision-making. They implement advanced tools and technologies to gather, analyze, and interpret financial and operational data. This data-driven approach boosts forecasting, risk management, and performance optimization. CFOs with these 5 habits not only protect their company's financial health but also catalyze growth, innovation, and long-term success. P.S. I'm Howard Katzenberg, and I post daily at 8:15 am EST to share finance insights and tips with my finance friends.

🚨 Exciting News! 🚨 Glean.ai is proud to announce that we've successfully recertified for SOC 2 Type II in 2024! 🎉 This achievement reinforces our commitment to data security, privacy, and meeting the highest industry standards. Our rigorous audits and assessments ensure that your sensitive information is always protected. #SOC2 #Privacy #Security #Compliance #APAutomation

VP of FP&A is becoming Apple's new CFO FP&A is rising to CFO roles. Here's why: 1. FP&A has an unparalleled understanding of how operational KPIs drive financial outcomes and strategic goals. This insight is crucial for leading a major company like Apple. 2. FP&A is uniquely positioned to influence company strategy. They translate complex data into actionable insights that help guide the company’s direction. 3. By stepping into the CFO role, Parekh exemplifies how FP&A keeps business leaders accountable. They drive conversations about performance, ensuring alignment with company objectives. 4. FP&A can figure out growth opportunities and challenges. Their ability to analyze and interpret data is key to steering Apple’s future growth and innovation. CFO Luca Maestri will step down in 2024 after a decade of success. Kevan Parekh, VP of FP&A, will become CFO in January 2025. FP&A is a faster path to the CFO role. P.S. I'm a former CFO who got fed up with watching Cash silently walk out the door that no one realized. I’d experienced that problem firsthand. I needed a solution for improving my visibility into vendor spend. Glean.ai is now the result.

7 Accounts Payable KPIs for Controllers and Accountants: 1. Average Accounts Payable ↳ Calculates total AP debt over a period. ↳ Assess financial health and AP efficiency. ↳ Formula: (Beginning AP + Ending AP) ÷ 2 ↳ Use Case: Identify trends and compare them to industry benchmarks. 2. Days Payable Outstanding (DPO) ↳ Measures days to pay suppliers. ↳ Insights into cash flow management. ↳ Formula: (Average AP ÷ Cost of goods sold) x Period days ↳ Use Case: Optimize payment timing to balance vendor relationships and cash flow. 3. Cost Per Invoice ↳ Indicates AP process efficiency. ↳ Determines the average cost to process an invoice. ↳ Formula: Total AP costs ÷ Number of invoices processed ↳ Use Case: Identify areas to reduce costs and improve productivity. 4. Early Discount Capture Rate ↳ Highlights cost-saving opportunities. ↳ % of early payment discounts captured. ↳ Formula: Discounts used ÷ Discounts offered ↳ Use Case: Maximize savings by taking advantage of early payment discounts. 5. Payment Error Rate ↳ Frequency of payment errors made. ↳ Emphasizes the need for invoice accuracy. ↳ Formula: Incorrect payments ÷ Total payments ↳ Use Case: Reduce errors to avoid late fees and maintain vendor trust. 6. Invoice Exception Rate ↳ Tracks invoices needing extra review. ↳ Identifies issues harming vendor relations. ↳ Formula: Problematic invoices ÷ Invoices received ↳ Use Case: Proactively address invoice issues to streamline processing. 7. Late Payment Rate ↳ Measures frequency of late payments. ↳ Reflects cash flow and vendor relations. ↳ Formula: Late payments ÷ Total payments ↳ Use Case: Minimize late payments to avoid penalties and maintain good credit. Remember, don't just track these metrics. Act on the insights they provide to transform your overall AP operations. What other Accounts Payable metrics do you track? -- P.S. I'm Howard Katzenberg, CEO of Glean.ai and I post daily at 8:15 am EST to share finance insights and tips with my finance friends.