CFO for VC-funded and bootstrapped SaaS/Tech startups. I do more than provide numbers - I explain the changes and offer improvement strategies.
Tips to save money while running your SaaS/Tech Company • Avoid signing contracts longer than month-to-month. If it's a longer-term contract, make sure there’s a 30 to 60-day mutual out clause. This means either party can cancel with 30 to 60 days' notice. Staying flexible gives you the power to renegotiate when needed. • Monitor employee credit card reimbursement expenses closely. Ensure expenses are justified without being overly strict with employees. There’s often a tendency to subscribe to unnecessary services or end up with multiple subscriptions offering similar value. • Evaluate employee capacity before making the next hire. Understand how your team spends their time. Sometimes, employees focus too much on low-value tasks. Introduce automation to free up time for higher-impact work. Build a culture where employees are encouraged to use automation to reduce workload. • Leverage AI tools for automation opportunities. AI can streamline processes in development, marketing, finance, and more. Ask team leaders: "If this is the old way of doing things, is there a new way with AI?" Regularly explore AI/automation tools to improve efficiency and cut costs. • Good bookkeeping saves money. Especially when it comes to VAT. With a proper tech stack and all bills/receipts uploaded, selecting the correct VAT rate can significantly reduce your VAT bill. Always have proper support for managing company expenses. • Be capital efficient, especially in the early stages. Even if you’ve recently raised funding, avoid overspending. It’s essential to have a budget, especially after raising money. This helps you plan where the funds will go and estimate the return on investment. _ 👍 Like or comment and you'll see my posts more often
