Let’s Get Ready for the Boardroom Event!

We are pleased to share the “Let’s Get Ready for the Boardroom!” networking event co-hosted by our CRO, Christina Bui. This will be an evening of actionable content, high-level networking and an incredible view of SF at the Salesforce Tower on Thursday, September 12th 5:30PM – 7:30PM.

The Result: YOU are ready to sit on a corporate board and we will discuss the fundamentals of how to get there! The program will cover:

– Review of the Landscape

– Proxy Guideline Implications

– What You Can Do To Move the Needle

– How To Get On a Board

– Which Boards Are Right For You

– How To Get Board Ready.


San Francisco How Women Lead in the Boardroom Leadership Committee: Christina Bui, CRO at Kranz & Associates; Nicole DeMeo, Partner at Andra Capital & Advisor at BCW, Steve Lee, VP at CBRE, and Leigh Wasson, SVP at BNY Mellon Wealth Management.


Harness the Power of Data

Event Description

Join us for lunch, and learn how your company can benefit from harnessing the power of data co-hosted by Kranz & Associates and Banner Analytics.

Banner Analytics is the most powerful tool for workflow automations, data analytics and forecasting for CFO’s and finance executives. The tool integrates and pulls data from any source – CRM, accounting software, HR software, and anywhere else – and centralizes it into a single, uniform data warehouse. From there, Banner Analytics helps implement data automations and tools like Tableau to help companies improve performance and make better decisions. Join us for lunch, and learn how your company can benefit from harnessing the power of data.


Thursday, Aug 8, 2019

12pm-1:00PM PST

Mindspace San Francisco

575 Market Street, 4th Floor

San Francisco, CA 94105



Late Stage Financing CFO Roundtable

Kranz & Associates was proud to co-host two productive CFO Roundtables to discuss “Late Stage Financing and Exit: Trends in the Current Marketplace” with our partners KPMG, Morgan Stanley Whitfield Group, and Heffernan Insurance. A special thank you to our expert panelists: Mihir Jobalia, Managing Director, Technology Investment Banking, KPMG; Suzy Taherian, CFO, Kinetic Systems; Jeff Klemens, Partner, Sageview Capital; Bernard Huger, CFO, OneLogin; Roman Glukhovsky, Partner, Andra Global.

Event Summary: “Late Stage Financing CFO Roundtable” Discussion- June 18th and 20th, 2019.  Sponsored by Kranz & Associates, KPMG, Heffernan Insurance, and Morgan Stanley Whitfield Group

Market Environment

  •  Interest rates very low, strong M&A market, record deals in tech… average size $158M.
  •  $1 trillion dry powder on the sidelines.
  •  3,600 deals last year, $35B venture capital investment.
  •  P.E. firms competitive and outbidding strategics.
  •  Strategics paying more for good assets.
  • 70% of acquisitions are for add-on P.E.
  •  Record strong M&A capital raise market and we don’t see it slowing down anytime soon.
  •  Shareholders are saying that if you don’t invest, give it back.
  •  Fundraise NOW, don’t wait until next year.
  •  Consolidation, market compression, plenty of financing options.

What investors are looking for in companies they invest in?

  • What are underlying unit cost of your business?
  • What are your metrics for customer acquisition?
  • What drives your sales revenue?
  • Have a compelling story… Know your competitors and your challenges in the market
  • What are you selling, what is great about your company?
  • Management team is more important when it is earlier stage, need track record of management team
  • Present company through the lens of investor or banker, EASY to understand!
  • Keep the story simple, easy understand, like talking to a toddler
  • They can understand what you do in 15 minutes or less.
  • Don’t fudge the numbers, don’t lose credibility.
  • Team presentation (not just the CFO and CEO talking). Well-coordinated team!

Know your options for financing

  • Options: Shareholder loan, sale lease back, asset sales, convertible notes.
  • Know the different bankers and lenders out there: venture debt, bank, capital providers, alternative investors.
  • Everyone wants to give you money.
  • Startup financing criteria: profit, asset, guaranty.

M&A versus IPO

  • IPO harder; requires factors of execution; are you able to scale so that the public market is excited about it.
  • Preparing for M&A: clean up the books, look at reducing the corporate cost structure, change the culture, hire/train folks, etc. Bring in Heffernan Insurance to do risk assessment to help manage risk and potentially realize insurance savings.
  • Acquisition usually comes from competition, partner, portfolio company from the same investor.
  • Get to know and build relationship with your potential acquirers early, pre-seed strategic direction.
  • Get more than one term sheet.
  • Get your financials straight, show ramp/growth trajectory, get business in a good place.
  • Live out of the data room and decide on challenges to immediately tackle in advance.
  • Operate as if you are getting ready to go public, 12-18 months before going public.
  • Process – cast a wide net for at least 5 – 10 interested buyers, get name out, get to know investment bankers.

Which stage is most challenging for capital raise?

  • If overcapitalized early on and you burn all of your cash and them come back for more down the road. This is when it is most difficult.
  • Post-merger integration and execution after the deal.

What are factors that companies are not ready for when they go for financing?

  •  Not getting their books in order, revenue recognition.
  •  Under-staffed finance team.
  •  Building product but no plans to scale.
  •  IP is an after thought.
  •  Security – does not pass the test.

Characteristics of how to be the “Best CFOs”

  • Revenue and A/R lumpy, unpredictable… Need consistent cashflow and standardization, ROI, track numbers.
  • Reputable, scalable offer that translate from customer-to-customer.
  • Have plan and strategy that you are going to execute on, understand what’s working and what’s not.
  • Best CFOs figure out on the fly and use outside resources to guide you and get up to speed.
  • Have great relationship and provide transparency to CEOs and Investors.
  • Hire the right people… get yourself an awesome controller.
  • Have conviction of your viewpoint and numbers.
  • Be proactive and report monthly to management team and board members.
  • Stay focused and say “NO” to large customers when you know your team can’t handle it.

How to find the right investor

  • Are they a good fit? Are they people that you’d want on your board?
  • What kind of network and support environment do they provide for their portfolio company?
  • Are they aligned with your strategy?
  • Can they stomach losing money for a while?

SEC Pro Group Meeting

Lights, Camera, Action! Kranz is proud to co-sponsor the Silicon Valley SEC Pro Group Chapter. The Q2 In-person Meeting is at Netflix on May 29th. You can register directly on Eventbrite at https://www.eventbrite.com/e/sec-pro-group-silicon-valley-chapter-in-person-q2-2019-quarterly-meeting-month-end-close-webinar-tickets-61127375626. We already have over 30 people registered and please feel free to share this event. The more the merrier! If you haven’t registered yet, please do so as we will need to get a registration list to our hosts for security check-in and headcount for breakfast. We have added the Roundtable to follow after viewing the webinar and we are offering 2 CPEs for the event. We have a strong representation of Controllers and SEC Professionals registered and we are looking forward to a productive Roundtable.

When: Wednesday, May 29th 8:30AM – 10:30AM

Where: Netflix, Los Gatos, CA

8:30 – 9:30 Webinar Month-End Close 1 CPE Credit
See below for course description and learning objectives

9:30 – 10:30 Roundtable Discussion: Success Stories and Challenges with Improving the Financial Close Process 1 CPE Credit
During our roundtable we will discuss success stories and challenges for improving the financial close process. Panelists will be subject matter experts, including controllers and financial reporting professionals. After the roundtable, attendees will be able to:
• Identify real-world solutions for improving the financial close process
• List technology solutions and methodologies to automate the financial close process
• Utilize cross-departmental teams to identify opportunities to create efficiencies for the financial close process
• Implement dashboards and metrics to facilitate communication and metrics to improve the financial close process
Details about the webinar:
The struggle to achieve both speed and accuracy in the financial close process can be challenging. Major stakeholders want the information as fast as possible, but they also need data they can trust. Those working on the close may feel as if they’re in a catch-22: pushed to work faster, but with no errors. During this meeting, members will share how they improved the efficiency and effectiveness of their close process by improving internal communications and leveraging technology.

After this meeting, attendees will be able to:
• Identify pain points in their financial close process
• Explain tactics or methods other members used to improve their financial close process
• Determine ways to leverage technology to simplify and expedite the financial close process
• Develop performance metrics to evaluate your close process


Trish Coughlin, Chief Accounting Officer, Cornerstone OnDemand
Eric Greene, Senior Manager of Technical Accounting and Financial Reporting, ZAGG
Alexander Hume, Corporate Controller, Zions Bancorporation
Jonathan Johnson, President, Medici Ventures, Inc.
Moderator: Steve Soter

“Scaling Your Startup” Panel Discussion

We are pleased to co-host “Scaling Your Startup” with Advantary, CBRE, Multi-Innovation, The Sourcery, and Lenovo. Please join us for a panel discussion on scaling your startup rapidly and cost-effectively in the Bay Area on Wednesday, May 29th at CBRE Corporate in Salesforce Tower at 415 Mission Street, San Francisco’s tallest office building. RSVP on Eventbrite at https://www.eventbrite.com/e/scaling-your-startup-tickets-61453356644.

This discussion will include the following panelists:

• Interim CxO Services – Stephen Kuhn, Advantary MODERATOR
• Recruiting – Jessica Stielau – The Sourcery
• IP and Patent Strategy – Shmuel Silverman – Multi-Innovation
• Venture Capital – John Majeski – Lenovo Ventures
• Real Estate – Lexi Russell – CBRE
• CFO/Finance – Rachel Fierberg – Kranz

Refreshments will be provided.

We hope to see you there!

You are Invited: Pre and Post Transaction Planning- Lunch & Learn

InvitationJoin us for the lunch and learn focused on Pre and Post Transaction Planning – “Optimizing Equity Compensation & Preserving and Growing Wealth”.

Who: For Entrepreneurs, Executives, Closely Held Business Owners

When: April 16th, 2019 at 11:45 a.m. – 1:00 p.m.

Where: MindSpace – 575 Market Street, 4th Floor, San Francisco

By: Kranz & Associates and The Whitfield Group at Morgan Stanley

Register at https://www.eventbrite.com/e/pre-and-post-transaction-planning-lunch-and-learn-tickets-59495528728.

Discussion Content:

 Optimizing Equity Compensation for Post Tax Cash Flow

 Founders Shares, Compensatory Stock Options, Qualified Small Business Stock;

 Compounding Post Transaction Wealth with Trust & Non-Trust Structures.

 Titling Assets with Revocable Trusts

 Freezing Asset Values with Intentionally Defective Trusts

 His & Her (Spousal) Intentionally Defective Trusts

 Grantor Retained Annuity Trusts

 Discounting Asset Values with Family Limited Partnerships

  •  Bringing all Together: Modeling the Economic Benefits of Planning v. No planning
  •  Illustration of post transaction wealth compounding with no planning
  •  Illustration of post transaction wealth compounding with planning

March CFO Roundtable: “Planning, Practicality, and Pitfalls On ERP Upgrades and Implementations”

We hosted two lively and productive CFO Roundtable sessions last week in Menlo Park (at Morgan Stanley) and San Francisco (at CBRE), focused on upgrading ERP systems. The events were well-attended by heads of finance representing a great mix of early stage and middle market companies from a wide variety of industries, who came to share their perspectives and learn from their peers.

Takeaways from the sessions:

Trigger points for upgrading from Quickbooks to NetSuite ran the gamut.

  • Company growth – multiple entities, product launches, multi-currency
  • Hiring an audit firm
  • Inventory Management
  • Investor reporting requirements
  • Board Member’s request

 Convincing your CEO to invest in a more robust ERP

  • Helping the CEO see the value of the accounting/finance function
  • Investing early will prevent higher costs vs. converting when the company is larger
  • Scalability

Pitfalls to avoid when implementing a new ERP system

  • Appoint a project manager within your company as implementation lead/primary point of contact to work with the vendor
  • Consider both current and future state of the company and develop a long-term strategy when looking at business requirements and system functionality and overall capabilities
  • Revenue recognition capabilities – does it support ASC 606, commissions, etc…

Upgraded to an ERP system but not using its full functionality

Reasons included:

  • No training/insufficient training
  • Only got through Phase I
  • Implemented by predecessor

Ways to address:

  • Performing an optimization review
  • Provide training for current team
  • Review work flows and user profiles
  • Integrate with software currently being used or look at ways to automate with the system

Options to consider if you aren’t ready for a more robust ERP system

  • Accounting structure is straightforward – i.e. single entity, inventory management is not an issue
  • NetSuite BPO or similar programs

We also had a great discussion on alternative software solutions to automate and simplify your process:

  • Zuora – Accounts Receivable Solution (i.e. global payments, subscriptions, analytics)
  • Intaact – Core Financials and Reporting (cost effective for non-inventory products)
  • Blackline – Reconciliation
  • Xactly – Sales Commission
  • Workato – Workflows, Integration and Automation.


The event was hosted by: Jan Berthold/Heffernan Insurance, Kelly Borland/Deloitte, Christina Bui/Kranz & Associates, Steve Lee/CBRE, and Garry Whitfield/Morgan Stanley, and our subject matter expert, Anna Matveeva/Kranz & Associates.