M-Files CFO and COO Justin Kim explains why scaling companies must build enterprise software architecture years ahead of target scale.
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“For us in 2018 is when we did a big system rebuild went to NetSuite and brought on some other, other solutions. We clearly designed the business though for looking three, four, five years ahead, we were probably in the 20, thirty million range when we were doing it, and we intentionally, all the requirements were based on, hey, When we are a hundred million dollar business, this is what we need”
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More from Justin Kim
Insight
Justin Kim: Leaders should accept existing company culture instead of changing it
“I wouldn't try to change the culture. For my experiences, the company culture is kind of what it is, and it's really just making the most of it, and trying to get the teams that can kind of work within that culture.”
Justin KimJun 11, 2024▶ 16:16Is Forecasting a Waste? CFO with $123m in Revenue Tells All
Disclosure
Kim: Team Turnover at M-Files Was Almost Always Driven by Culture Fit
“If I just did a quick, again, not scientific, my sense for what didn't work, was it a performance skill set issue, or was it a lack of culture fit? Almost always for me, it was culture fit.”
Justin KimJun 11, 2024▶ 6:57Is Forecasting a Waste? CFO with $123m in Revenue Tells All
Insight
Kim: Business Units, Not Finance Teams, Must Own Forecasts
“You don't want the forecast to be your forecast. It's not my finance forecast, right? That's gotta be owned by the business. So if you happen to miss, the whole business is accountable, right?”
Justin KimJun 11, 2024▶ 10:25Is Forecasting a Waste? CFO with $123m in Revenue Tells All
Disclosure
M-Files Rigorously Forecasts Only Current and Next Quarter
“Don't try to forecast too far ahead. We have, we're pretty rigorous. We always look at this quarter and next quarter, and that's it. If we're asked for something two, three quarters ahead, you know, we can get some ballpark estimates, but we don't know.”
Justin KimJun 11, 2024▶ 11:32Is Forecasting a Waste? CFO with $123m in Revenue Tells All
Insight
Kim: Avoid Nuanced Communication Because Employees Read Into It Whatever They Want
“It's tough to say things that are too nuanced because folks will read into that what they want to read into.”
Justin KimJun 11, 2024▶ 13:32Is Forecasting a Waste? CFO with $123m in Revenue Tells All
AssertionSupported
M-Files CFO Kim: Company is generating around $130M in revenue
“So today we're doing, ah, you know, somewhere in the neighborhood of a hundred and thirty million, something like that”
Justin KimJun 11, 2024▶ 2:29Is Forecasting a Waste? CFO with $123m in Revenue Tells All
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