Campfire

The accounting processes that I keep hearing about 👇 - Manual invoice and bank reconciliations - Messy spreadsheet for accounting schedules and multi-entity consolidations - Calculating ARR and other investor metrics in spreadsheets It often takes teams 2-3 weeks every month to close. Does it work? Sure. The problem is that this amounts to 50 - 75% of a team's bandwidth. 🔢 Finance & accounting teams sit on a goldmine of financial data. Access to information that can: - Accelerate revenue growth by improving GTM efficiency - Improve margins by consolidating vendor spend - Improve internal and Board reporting spending more time on insights and recommendations I only hear about Strategic Finance, no one talks about Strategic Accounting, which is the future of the accounting profession. It starts by offloading manual tasks to software automation.

I’ve spoken to hundreds of finance leaders from growing, mid-size tech companies while building Campfire. This is the modern finance tech stack I’ve seen that powers their businesses. Cash In Invoicing / Revenue Automation: Stripe, Campfire, Orb, Metronome CRM: Salesforce, Attio Sales Tax: Avalara, Anrok Cash Out Banking: J.P. Morgan Access / Connect, Stifel Bank, Arc, Rho Accounts Payable / Corporate Cards: Ramp, Brex Payroll: Rippling, ADP, Deel Other General Ledger: Intuit QuickBooks, Campfire, NetSuite Close Management: Spreadsheets, monday.com, FloQast, Numeric Cap Table Management: Carta, Pulley Database / Business Intelligence (BI): Snowflake, Looker, Sigma Computing Interested in why companies are relying on these tools? Check out this blog post: https://bit.ly/4dCKtQ6 ----- #finance #accounting #moderntechstack

I’ve spoken to hundreds of finance leaders from growing, mid-size tech companies while building Campfire. This is the modern finance tech stack I’ve seen that powers their businesses. Cash In Invoicing / Revenue Automation: Stripe, Campfire, Orb, Metronome CRM: Salesforce, Attio Sales Tax: Avalara, Anrok Cash Out Banking: J.P. Morgan Access / Connect, Stifel Bank, Arc, Rho Accounts Payable / Corporate Cards: Ramp, Brex Payroll: Rippling, ADP, Deel Other General Ledger: Intuit QuickBooks, Campfire, NetSuite Close Management: Spreadsheets, monday.com, FloQast, Numeric Cap Table Management: Carta, Pulley Database / Business Intelligence (BI): Snowflake, Looker, Sigma Computing Interested in why companies are relying on these tools? Check out this blog post: https://bit.ly/4dCKtQ6 ----- #finance #accounting #moderntechstack

The right tech stack saves the CFO Suite time and sanity. These are the finance tools powering 150 mid-sized growing tech companies. Read the full blog post here: https://bit.ly/4dCKtQ6 Cash In Invoicing / Revenue Automation: Stripe, Campfire, Orb, Metronome CRM: Salesforce, Attio Sales Tax: Avalara, Anrok Cash Out Banking: J.P. Morgan Access / Connect, Stifel Bank, Arc, Rho Accounts Payable / Corporate Cards: Ramp, Brex Payroll: Rippling, ADP, Deel Other General Ledger: Intuit QuickBooks, Campfire, NetSuite Close Management: Spreadsheets, monday.com, FloQast, Numeric Cap Table Management: Carta, Pulley Database / Business Intelligence (BI): Snowflake, Looker, Sigma Computing

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There’s a massive problem in the traditional structure of accounting teams and we’re selling our talent short. Hear me out 👇 Accountants are relied upon for accurate financial record keeping. But the work is monotonous. It’s a data-entry factory, known for tedious bank reconciliations. Employees will spend hundreds of hours matching transactions side by side on two tables. There are interesting parts of accounting, but bank reconciliation and other transactional accounting tasks are not one of them. And it’s contributed to a shortage of talent. The number of accountants and auditors has declined 15.9% since 2019. More than 300,000 accountants quit their jobs between 2019 and 2021 alone (credit: WSJ). By definition, accounting is generally responsible for historical data, while finance is responsible for forecasted data. However, because accountants have been focused on keeping the books clean, finance has often performed the interesting ad hoc analysis on historical data. For example, as a member of the strategic finance team at Adobe, I performed LTV/CAC on historical data to unlock more efficient revenue growth by shifting ad spend to higher LTV/CAC products and customer cohorts. But…what if we let software (like Campfire) automate the time-consuming transactional accounting tasks. And in doing so freed up time for accountants to take on more strategic tasks like LTV/CAC. In addition to more interesting work, they’d gain the visibility and experience of presenting recommendations to internal stakeholders like the CFO and VP Product. Automation amplifies impact, and can unlock a new team of financial experts to transform more members of the CFO Suite into strategic decision-makers. Just like Marc Andreessen’s famous phrase, “software is eating the world”, automation is eating transactional accounting. The future of accounting is strategic accounting - it’s accounting’s path forward to thrive in modern teams. ----- #Accounting #StrategicAccounting #Software #Finance

🥇🚴♀️ Kristen Faulkner just clinched the first US gold in the women’s road race in 40 years. Her approach to cycling was forged from working as a venture capitalist - and her mindset contains a strong lesson for accountants: Save mental and physical energy for the big push. There’s been a lot of talk lately, especially in the news, about accountants burning out. It’s the heavy cyclicality of the role on month-end, quarter-end, year-end, audit season, and tax season. To win the gold, Faulkner conserved her energy, riding mid-pack until the perfect moment to surpass her opponents. Accountants can use the gaps in work cycles to focus on strategic accounting and mix up the workload. A byproduct of which is setting yourself up for future success. For example, investing the time in automating low-value, transactional tasks will give your future self time back - helping you reduce the heavy cyclicality so you can get time back to do the things most important to you. Like strategic work, or even hobbies like cycling. A big congratulations to Kristen on her win! It’s great to see a San Francisco local (like Campfire) on the podium. #AccountingStrategy #OlympicLessons #StrategicThinking

Still running ARR out of spreadsheets? We automate transactional accounting so you can focus on meaningful, strategic work. Join CEO John Glasgow on August 22, for a live demo to learn how we're reimagining the industry.

Every SaaS company knows the #1 metric for success: ARR. But most accounting software, like Quickbooks and Xero, doesn’t track ARR. Why? Because these platforms are built for plumbers and restaurants, not tech companies. The result? Everyone's running their ARR in spreadsheets, managing each customer contract individually. Everyone is skipping the deeper analysis like ARR waterfalls and ARR by customer segment - internal teams and Board meetings lacking deeper insights for critical decision-making. It was the reality for my accounting team as we scaled Invoice2go through $30M+ ARR until our acquisition. I founded Campfire to give finance and accounting teams flexible, powerful, and self-serve software to unlock insights to accelerate growth and operate more efficiently. Getting you out of spreadsheets and focused on the meaningful and strategic work that will grow your company. It’s time we reimagine accounting - shifting the role from transactional to strategic. 🔥 --- #accounting #strategicaccounting #saas #arr

New campsite, ✔.