The weekly newsletter for forward-thinking finance leaders, especially those who leverage Xero and its ecosystem.
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Your weekly go-to guide to transform your finance function into a strategic powerhouse.

Welcome CFO Techstack Community 👋,

 

It’s Issue 100 of the CFO Techstack Newsletter!

 

This milestone is all thanks to you, our incredible community of forward-thinking finance leaders. Over the past 99 issues, we’ve shared your stories of scaling smartly and building connected tech stacks with Xero at their core.

 

Most recently, as part of our ERP Survivor series, we heard from Khalid Ahmed, who was previously weighed down by rigid ERP systems, but now runs a successful scaling finance function powered by Xero + apps. 

 

This week, our next ERP Survivor is me, David Tuck. I'll share how my early frustrations with complex ERP systems led to the lightbulb moment that culminated in founding Mayday and CFO Techstack.

 

FEATURED ARTICLE

My ERP Survivor Story

My first real experience of an ERP was at Fever-Tree in 2011. It was meant to bring visibility. Instead, it brought confusion.

 

At the time, I accepted it as the price of scaling, that complexity was just part of growing fast.

 

A year later, at WAYN, I discovered Xero for the first time. It opened my eyes to what finance software could be, simple, scalable, and intuitive. It gave us the same visibility we’d been chasing at Fever-Tree, but without requiring consultants, training, or setup pain.

 

That experience reshaped how I saw finance technology. It showed me that Xero + apps can give growing businesses everything they need, without requiring a costly ERP migration.

 

That belief became the foundation for everything I’ve founded since, Chaser (2013), Mayday (2021), and CFO Techstack (2023). 

 

This is my ERP Survivor story.

 

The ERP years

 

I used NetSuite for a year and didn’t have the first idea what was going on.

 

When I joined Fever-Tree as Financial Controller in 2011, things were moving fast, new markets, new distributors, new reporting demands.

 

The UK ran on Sage 50, the US distributor on NetSuite. I was shown how to log in, click a few places, and pull one monthly report. That was it.

 

In hindsight, there could have been all sorts of issues hiding in plain sight, but without training or specialists, I wouldn’t have known.

 

We were small and just had to make do, but the experience stuck with me.

 

Even then, not knowing what I didn’t know, I had a suspicion there must be a better way.

 

The turning point

After Fever-Tree, I joined WAYN following their Series B round, a fast-growing social travel business who were scaling with Xero as their accounting system.

 

Until then, I’d assumed Xero was just for small businesses, but it was the opposite: clean, intuitive, empowering. For the first time, I could see exactly what was happening across my finance function, no training required.

 

It planted a simple question: if Xero could make finance this straightforward for a growing company, why were so many others still stuck in the ERP trap?

 

Everywhere I looked, teams were tied up in multi-year implementations draining time and money.

 

That realisation became the inspiration for my next step, founding Chaser, to help finance teams automatically chase late payments, track debtors, and improve working capital.

 

It was driven by a simple belief: that by creating powerful AR software to extend Xero for growing businesses, we could help them scale further and avoid the costly move to an ERP.

 

Turning conviction into change

When I started Chaser, there were about 100 apps in the Xero ecosystem. Now there are over 1,000.

 

Finance teams can finally build connected, best-in-class stacks around Xero, purpose-built for their exact needs.

 

And that evolution is showing up in the data. At Mayday, we’re seeing more mid-market teams prove that Xero can scale further than ever. In the last 12 months alone, we’ve supported:

  • 46 customers with revenue over $100 million

  • 62 with revenue over $50 million

These are sophisticated, multi-entity, multi-currency teams scaling with the Xero + Apps model, proof that ERP isn’t inevitable anymore, it's a choice, and the tide is turning.

 

As Lucy Winterbourn, Finance Strategy Manager at Auror, puts it:

 

"Mayday has saved us from needing to move to an ERP; it has been a game-changer."

 

The rise of CFO Techstack

What’s most exciting today isn’t just the technology, it’s the array and variety of finance teams joining us on this journey.

 

Through CFO Techstack, we’ve built a community of finance leaders showing how far a Xero-based stack can really take you.

 

Across 99 editions of our newsletter, we’ve heard from leaders sharing their own set-ups in our How I Stacked It segment, proving this isn’t theory, it’s reality.

 

Here are How I stacked It's top apps that finance leaders are using to scale with Xero, listed by the number of times they've been referenced.

  • Month end: Mayday (59 stacks)

  • Approvals: ApprovalMax (26)

  • Operations: Dext (20)

  • Management Reporting: Fathom (19)

  • Consolidated Reporting: Joiin (17)

Want to see how they were Stacked with Xero? 👉 Visit How I Stacked It here.

 

Looking back

The most sophisticated finance functions I see today aren’t running on ERPs. They’re running on connected, intuitive Xero + app stacks and scaling faster because of it.

 

That’s the shift we’re living through and momentum is only building. Mayday now supports 12,000 organisations, powering over 250,000 postings back to Xero, helping teams mend month end pain and extend their life on Xero.

 

CFO Techstack has surpassed 5,000 subscribers, a growing proof point that this community is expanding fast, united by one belief: scaling without an ERP isn’t just an alternative, it’s the superior option.

 

And the most exciting thing? We’re only just getting started.

 

👉 If you’re an ERP Survivor, we’d love to hear your story.

Reach out to emily.lockyer@getmayday.com

      COMMUNITY INSIGHTS

      🎤 How I stacked it

      Mark Murray, CFO at The CAPS Clinic, shares their tech stack.

      The CAPS Clinic is a privately-owned healthcare business based in Canberra, comprised of a private hospital, a plastic surgeon, a skin clinic, a non-surgical cosmetic service and a separate software development business. They essentially have 5 businesses operating under one roof. The set-up is quite complex in terms of accounting structures: they have each individual operating entity, as well as a number of trusts, with 9 Xero files to work through. 
      mark murray
      Mark explains, "We've been fairly stationary in the app space for a while. We still rely quite heavily on Excel, but I’m trying to make it more robust." He sums up their situation: "We've got a straightforward stack, but the big deal for us is being able to bring all of those different elements in and consolidate them in terms of reporting and reconciliation." And, reflecting on the broader landscape, he adds: “It’s really interesting to see what others are doing. It helps you step back and think about where you want to look next.”  

      Here's what Mark and his team are using:

      1. Calxa for Reporting: I love that Calxa enables us to consolidate all of our entities into custom consolidations. We can look at them individually and we can look at them as a group. As we've grown in our confidence there, we're now starting to include KPI reporting in that, bringing in metrics and adding more value to our reporting. 
      2. Calxa for Forecasting: The other side of Calxa that I really like is the ability to cast budgets and forecasts. We now have an idea of what a rolling 12-month forecast looks like for us, and can confidently forecast our cash flow as well. Being a small business: cash flow is king. 
      3. Mayday for Intercompany: We have a lot of movement of cash between the different companies, so being able to reconcile those with Mayday on a daily basis as we do our bank recs has taken so much of the headache out. We also really like the new feature where we can reconcile our intercompany payables and receivables as well. 
      4. EmploymentHero for Payroll: EmploymentHero is great for a business of this size and works really well for the cost centres, but I wish it was a bit easier to integrate to get the level of information into Xero that we'd like. We're doing a lot of off-board calculations to get the detail that we want.
      5. Inventory and Payments are on our near-term radar...

      Keen to share how you stack it? Email: emily.lockyer@getmayday.com

      UPCOMING EVENTS

      🗓️ Save the date

      Stackedx Melbourne

      https://www.pkf.com.au/locations/melbourne/stackedx/

      Thurs 30th Oct, 8.30am AEDT

      PKF Melbourne, Level 15, 500 Bourke Street, Melbourne.

       

      ​The first-ever AU Stackedx!

      PKF and CFO Techstack invite you to Stackedx, a high-impact morning event designed for in-house finance teams who use Xero. This is your opportunity to gain fresh insights, explore emerging strategies, and discover the latest tech innovations shaping the future of finance operations.

       

      From scaling with Xero to navigating the ERP landscape, Stackedx brings together finance leaders, tech implementors, and app partners for a morning of thought leadership, practical takeaways, and connections.

       

      To reserve your place, RSVP here!

      THE STACK EXCHANGE

      🧵 This week's top threads, from The Stack Exchange

       
      The Stack Exchange is a Slack forum for connecting with peers, sharing insights, and staying updated on apps and industry events, helping you transform your finance function into a strategic powerhouse.
       
      Here are this week's top 3 discussions from The Stack Exchange:
      1. Platforms for custom integrations with Xero
      2. Functionality with Bank Australia
      3. Feedback on ScaleXP

       

      Keen to join? Sign up here >

      NEW IN THE WORLD OF CFO SOFTWARE

      🗞️ News from the stack-o-sphere

       

      • Spotlight Reporting announces new strategic partnership with FIN - Finance Innovation Now. Learn more.
      • Make releases latest Sora 2 video model in OpenAI app. Learn more.
      • Expensify releases October product update. Learn more.

      WHAT THE DATA SAYS

      📊 Stat of the week

       

      "Over 70% of CFOs now carry responsibilities beyond traditional finance (such as digital strategy, analytics, etc.)."

       

      Research by Auxis

      MORE OF THE GOOD STUFF

      And lastly, our top picks!

       

      🎧 Podcast: "AI-Powered Finance Transformation with Billy Newman. CFO Weekly.

      📝  Article: "CFOs grapple with expanding priority list." cfo.com

      😆  Joke: What’s a CFO’s favourite type of music? Cash flow harmony.

      Why not forward this newsletter to someone you think would enjoy it?🙏

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