Date: 13.01.2025 (2025-01-13)
Daniel Rupp (13.01.2025) Context: • https://www.linkedin.com/in/daniel-rupp-7a423348/ • CFO Berlitz Corporation (4k ppl) • Berlitz Corporation is a world-leading language and cultural training provider with over 145+ years of experience. • Frm Schleich, adidas, Under Amour • MUC based • My message: • Ich bin auf Ihr Profil gestossen, da ich gesehen habe, dass Sie super viel Erfahrung als CFO in verschiedenen Settings haben. • • Wir entwickeln proprietäre KI-Modelle für Controlling & Accounting, die auch für komplexe Fälle trainiert sind - etwa mehrere Purchase Orders auf einer Rechnung, Price-Variance-Tolerances bei Lieferanten etc. • • Ziel ist eine ~80% Automatisierung in AP/AR und auch 50% weniger Aufwand beim Closing & Reporting - direkt integriert in bestehende Systeme und angepasst an aktuelle Prozesse. • • Aufgrund Ihrer Erfahrung, würde ich gerne Ihr Feedback zum Konzept bekommen (kein Verkaufsgespräch) - gerne einfach 15min per Telefon. Würde mich sehr freuen! • Reply: • Hallo Herr Brandstaetter (auch gerne per du!), klar gerne können wir 15 min sprechen, bin aber erst ab 7. Januar wieder erreichbar, hoffe das passt noch? • Frohe Weihnachten und guten Rutsch! • Daniel
Notes: • Notes • Privately owned -> not that much pressure • Very cool guy • Automation: • • Biggest objections / challenges in his daily life? • Harmonisierte Tools • They grew decentrally -> 12 countries in which they work directly -> different tech stack per country -> does not give you the opportunity to build a shared service center • They are a services company • Payroll and travel expenses as key elements beyond invoices • Travel: • Abrechnung von allen möglichen Kosten die Leute haben (Company Card, Vorschuss etc.) -> classify it into different buckets to make it tax wirksam and CC • He always challenges the buckets -> too complicated • Flights, Hotels, F&B, Other (taxi, coffee etc.) -> 4 buckets should be enough • The first 3 should be enough • Challenges: • People wrongly classify the reimbursement -> finance flags it -> redoing -> 3 rounds • • Process: • Very good tool: ChromeRiver (US based) • Upload photo -> which people are there and then it is done • Problem: human component is there • Leasing etc. • Monthly Closing: • Go a level lower -> he is too high up -> Head of accounting • The only thing he really knows: intercompany balances -> differ with amounts -> you have to get people in a room to align and make adjustments • CFO: • AI: do not really use it yet -> he is very interested in AI • He did not find a solution yet that really works • Challenges: • Standardised reporting -> often something is missing -> he would like to add data ->Junior FP&A (AI) that works well • Data is always incorrect - wrongly booked • Procurement: • He worked in Consumer Goods and Services • Services: you have Berater (no goods) -> lower potential for procurement -> monthly invoice is not correct is unlikely; renegotiation seems interesting • Procure to Pay: • Goes in the direction of supplier management • Question: Expert in P2P vs. Finance general • He thinks monthly closing is a huge topic -> until you can support a lot of companies, it will take a lot of time (a lot of small tasks) -> monthly close is never ending set of tasks • P2P: • Negotiation: • There is a potential -> they are always reactive in negotiations • Insights would be valuable • Benchmarking of comparable projects • They dont have a procurement team • Interested in staying up to date • Most valuable flows for him? • • Context: team setup? internal and external? • • Which tasks are the biggest pain? With magic wand -> what would he solve? • FP&A topic (see above) • Which tasks would he focus on? • • Do they already have automations? Which ones? How well do they work? • • Which companies would he target? • • General feedback to pitch? •