SaaS Masterminds - Insights on Software Cost Optimization and Human Capital Investment

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We welcome you to “SaaS Masterminds,” Season 2 of the CloudEagle podcast. In this episode, Nidhi Jain, CEO of CloudEagle, hosts Nicole Jordan, the CFO and Head of HR at Clover, as our esteemed guest.

As an experienced financial leader, Nicole advises aspiring finance leaders to start in larger companies to understand operations comprehensively before transitioning to startups. This approach provides a solid foundation and diverse exposure, which is crucial for success in smaller environments.

The conversation sheds light on the challenges startups face in securing funding and advises businesses to focus on extending the runway. Nicole stresses the importance of balancing spend reductions with strategic decisions to ensure sustained growth.

Diving deep into the conversation, Nicole shares her insights on software spend optimization. She recognizes the need for detailed control over software costs, which can quickly escalate. She highlights how she realized that Clover lacked control and visibility over software spending, leading to optimizing the company's software portfolio.

In a surprising yet crucial note, Nicole emphasized the importance of investing in employees even during challenging times. She urged finance leaders not to overlook HR initiatives, recognizing the indispensable human element in achieving long-term success.

Don't miss out on this insightful conversation with a financial expert who shares the intricacies and importance of software cost optimization without overlooking human effort.

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Timestamps

00:05: Introduction

01:51: Career advise from Nicole to be a finance leader

05:55: Challenges of raising money from VC's

08:04: Increasing runway and margins by cutting on unwated SaaS spend.

11:03: How did Nicole gain control over their SaaS stack.

14:31: Challenges faced in time organization while managing operations.

16:22: Advice for finance leaders when managing teams.