How can I persuade a “cost-focused” finance team to approve my requested SaaS solutions and changes to the tech stack that I believe will improve revenue and forecasting?

There are a few "how do I get money out of finance" questions in this AMA so I'll repeat the relevant parts each time, and try to add specific context where it seems additive. In my experience, Finance will usually allocate budget to projects if three conditions are met: There is available budget to spend There is a strong business case with compelling ROI to spend the money you are requesting That particular business case fits well into the priorities of the company We can go through each of th ...Read More

To help Finance greenlight financing your SaaS solution requests, present the request in the language of Finance; create a business case that demonstrates the ROI of the investment. Finance regularly receives requests for budget. Help make the decision easier for them AND tip the decision in favor of your request by presenting the qualitative and quantitative benefits of your request. Be sure to also note the qualitative and quantitative trade-offs to provide a balanced view. There are numerous ...Read More

To rationalize with a cost centric finance team is slightly challenging, but let me give it a try: – List the Advantages: Define how exactly integrating these SaaS tools and switching tech stack will result in increased revenue or better forecasting. Use actual numbers or examples where applicable – it really strengthens your argument. - If you can, I think it's worth stressing that while there is an initial expense with short-term solutions they pay off in the long run. Or it automates some dru ...Read More

Show them the money: What are current expenses with your existing tech stack? What are the issues with the current tech stack? How do those issues impact the bottom line? (Ideally this is a quantitative answer, but can be qualitative) If you're looking to add to the tech stack, what are the gaps that you're addressing? Why can't they be filled with existing technology? If you're looking to streamline the tech stack, are the changes cost-saving or cost-neutral? What are the additional benefits th ...Read More