Heart your AR. Paystand is designed to seamlessly integrate into your existing ERP and automate your payment process. That means a fee-less, blockchain-based payment network that can reduce DSO by 60%. Book a demo and you could win a $150 Amazon gift card.
Dan Zhang is the freshly minted CFO at ClickUp, a cloud-based productivity platform. Before that, she served as the company’s SVP of finance. Zhang has deep experience in the world of tech and startups. Here, she explains what other CFOs can learn from her journey.
This interview has been edited for length and clarity.
As CFO, what’s your top priority for 2024?
I have two top priorities for our business in 2024. First and foremost, I want to optimize our cash engine so that we earn the right to accelerate growth. I’ll be doing this by improving our business’s gross margin, R&D efficiency and G&A efficiency. Secondly, I want to polish up our growth engine. This means driving growth with payback guardrails so that we continue to improve our unit economics.
How would you describe your job to someone who doesn’t work in finance?
My job as [a] startup CFO involves being the supply quartermaster to make sure our teams are supported and our cash is conserved, the airplane navigator to set the course and speed, and the co-pilot to partner with the CEO to run the business and build the business value.
What can other CFOs learn from the startup world?
Historically, SaaS startups have been able to operate over long periods of time while increasing or maintaining cash burn and are still able to create substantial value. However, given the market shift to efficient growth, it can be beneficial to periodically achieve the state of being “cash flow positive.” In doing so, you prove that your business has the underlying economics to turn a profit when it chooses to.
Who’s a CFO you admire or try to model yourself after?
Bob Swan, the former CFO/CEO of Intel. Bob’s career was characterized by his financial acumen, strategic thinking, and experience in tech. He sits on our board and plays an instrumental role.
What advice do you have for future CFOs?
My advice for future CFOs is to forget your current title. Your most important job is to ration company resources. That’s it. You make all the big resource decisions in the long-term planning process. That’s when you ask the hard questions and you must ensure you get clear answers. Everything after that is execution.