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December 2020

Elements of Finance

The latest news, tips, and techniques in SaaS finance.

At this time of year, we know many of you will be busy wrapping up last minute projects, so this will be a shorter newsletter than most. We wanted to wish happy holidays and all the best for 2021.

Below are a few tips for SaaS CFOs for 2021. We look forward to continuing to work with you in the new year.

5 Ways SaaS CFOs Can Help Their Company Scale in 2021

CFOs touch more parts of the customer journey than anyone else in the business. They have access to data across the company and should be using that data to improve your business throughout the year.

Here are a few ways:

  1. Look at ROI for operational software and services
  2. Streamline expenses across departments
  3. Provide timely financial reports
  4. Automate processes
  5. Create a compliance center

Can A.I. algorithms help end unfair lending?

Zest AI was developed to remove human bias in lending. According to their CEO, they are now ”solely focused on selling software to banks and credit unions to help create and manage A.I. lending models.” Recently, Zest AI joined forces with Freddie Mac to increase approval rates for mortgages.

Within the world of SaaS, we see AI being deployed for everything related to finance. Funding being available unbiasedly to the best companies and founders would be a huge positive. However, we are hesitant about AI lending because we believe a lot of stories cannot be told with only numbers. We’re looking forward to seeing how this develops.

Cheers,
The Element Team

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