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 👋,

 

Last week, as part of our ERP Survivor series, I discussed my own ERP Survivor story and shared how dealing with complex ERP systems led to the lightbulb moment that culminated in founding Mayday and CFO Techstack.

 

This week, we hear from our ERP Survivor #4: Helen Wilson-Town. Helen went from battling rigid ERP systems to building a fast, flexible finance function powered by Xero + apps. By replacing manual consolidation and reconciliation work with tools like Mayday and Syft Analytics, she proves that scaling a business doesn’t have to require an ERP.

FEATURED ARTICLE

ERP Survivor #4: Helen Wilson-Town

Helen Wilson-Town has experienced both sides of the “ERP vs Xero” debate.

 

At Mind Candy in 2011, she implemented NetSuite at the height of the ERP boom. This involved a 3-month implementation, daily configuration calls and escalating licence costs.

 

Twelve years later, as Finance Director at Balena, Helen faced the same conversation again: a growing tech company, a finance function running on Xero, and a board asking whether it was time for an ERP.

 

This time, though, Helen knew better.

 

Rather than repeating history, she built a modern, lightweight stack around Xero.

 

Her survivor story proves that scaling a business doesn’t have to require an ERP.

 

Mind Candy

When Helen joined Mind Candy in 2010, the business was in growth mode.

 

Revenue was doubling year-on-year, they had a fresh Series A in the bank, and business was brimming with all the energy of a startup on the rise.

 

The finance team running on Xero started to feel the strain.

 

At the time, Xero was early in its evolution: excellent for small companies, but limited for scaling businesses.

 

“At Mind Candy, when I joined, they were using Xero. The CFO said we needed an ERP.”

 

Back then, the app ecosystem around Xero barely existed.

 

“This was 2010, there weren’t loads of apps you could hold on to.”

 

With growth in full swing and a need for consolidation tools, the team made the leap to NetSuite, chosen largely because it was a cloud-based ERP.

 

It seemed like the sensible, future-proof choice…

 

The ERP reality check

Implementation quickly revealed what ERPs really demand: time, patience and money.

 

“Tens of thousands of pounds, and this was 10–15 years ago!”

 

What followed were months of configuration and consultancy.

 

“It was definitely a three-month implementation, with at least a month of two-hour calls every day.”

 

The system was so expensive that only one person could attend official training.

 

“It was such an expensive course that we could only send one person (me), and then I had to take the time to train everyone else.”

 

Compared to Xero’s plug-and-play simplicity, it was a shock.

 

“You can turn up and sit down in front of Xero and figure it out within a day. With NetSuite, you have to spend a long time configuring it for your business.”

 

Eventually, it went live.

 

Some features worked well, such as the custom reporting and detailed exception rules.

 

Other things were broken from day one.

 

“We very quickly realised the bank reconciliation function didn’t work as expected […] This was a step backwards!”

 

And frustrating quirks in the ERP kept appearing.

“If you edited an invoice linked to a PO, the PO reopened. You’d be manually going through re-closing.”

 

The cost trap

Once NetSuite was embedded, the real trap of ongoing cost and dependency emerged.

 

“Every year the renewal would come. ‘This module is this much, this module is that much.’ Somehow, every year, it’s still a 10% increase!”

 

Over time, the bill crept from manageable to monstrous.

 

“If you’re starting at £30,000, 5 years later you’re up to £50,000. It’s huge.”

 

But switching away wasn’t easy. By now, too many processes depended on it.

 

“I was kind of trapped with the way it all worked.”

 

Fast forward: new company, new brief

In 2023, Helen joined Balena, a growing tech company running on Xero.

 

This was new leadership and a new board, but the same conversation.

 

The company’s reporting needed work, and the board had a suggestion: “Maybe it’s time for an ERP.”

 

Helen wasn’t so sure.

 

“I quickly realised times have changed. Xero has loads of apps now.”

 

Rather than rushing into another ERP project, she mapped the real problems: consolidation, intercompany balances and month-end drag.

 

It turned out that the solutions were already out there in the Xero tech stack.

 

“There must be an app to consolidate by now… Oh! Hello, Syft Analytics."

 

When Helen laid out the business case, the choice was obvious.

 

“You can have an ERP, but it’ll cost this much and take this long, and the finance team won’t know what’s going on for the first year.”

 

“We're currently paying a couple of hundred pounds a month for Xero and can quickly implement add-ons to solve our problems for minimal extra cost or disruption. Let's stick with Xero.”

 

The decision was easy. The board agreed.

 

The modern Xero stack

Today, Balena’s finance stack is lean and efficient, built around Xero at its core.

 

For consolidation and reporting, Helen uses Syft Analytics, replacing brittle spreadsheets with automated reports.

 

“When I joined, it was all on spreadsheets and not sustainable. Now I can just refresh data and download a spreadsheet.”

 

To close month end, Mayday automates intercompany reconciliations and prepayments.

 

“The last thing I’m always doing is intercompany; it’s such a drag on your brain. Then I found Mayday: Oh my god. One button to deal with prepayments. It removes that drag factor at month end.”

 

And, would ERP ever make sense again?

Helen still gives credit where it’s due.

 

NetSuite’s configurable reporting and exception logic were powerful. In a much larger or more complex environment, she admits, those features might still have a place.

 

However, in today’s ecosystem, there’s rarely a reason to jump straight to ERP.

 

“If I did need that again, I’d think: what app does it? Rather than ‘I must go to NetSuite.’ I’d be surprised if there wasn’t something out there doing that… or will be soon.”

 

Lessons from the front line

Helen’s journey is a lesson in choosing fit over fashion.

 

Don’t move to ERP by default! Start with the problems, not the platform.

Implementation is real work: months, not days.

 

Beware of feature regressions - new doesn’t always mean better.

Watch the total cost of ownership; renewals creep up faster than you think.

 

Leverage the ecosystem. Xero + apps like Syft and Mayday now cover most mid-market needs.

 

Above all, back your conviction:

 

“Let’s not spend the money, let me show you what I can do with Xero.”

 

👉 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

      Eddie Lee, Director at Cloudfox, shares their tech stack.

      Cloudfox provides outsourced bookkeeping and system support for property companies. Cloudfox bookkeeping is a property management accounting service that’s fast, accurate and fixed fee. They provide all the back-of-house services you need to run your business successfully, from bank reconciliation to general ledger, payroll & supplier payments.  They are also the real estate industry's #1 independent system implementation team.
      EL
      Eddie told us, “At Cloudfox, no two days are the same, but they all revolve around ensuring our property management clients have the financial clarity and system efficiency they need to operate and scale. Our mornings often start with reviewing financial transactions, completing bank reconciliations, processing supplier payments, and ensuring general ledger entries are accurate. We meet with clients to review financial performance, discuss cash flow management, and refine processes to improve efficiency. Beyond accounting, a significant part of our day is spent on technology reviews, system refinements, and advising CFOs and COOs on optimising their finance and operational tech stack. We regularly audit and fine-tune integrations between HubSpot and Concurrent to ensure seamless lead-to-lease tracking, automate bulk updates in Xero using Make, and troubleshoot inefficiencies in financial workflows.”

      Here's what Eddie and his team are using:

        1. HubSpot for CRM: We use HubSpot to set up lead generation, CRM, and manage the lead-to-lease process for our property management clients. It integrates seamlessly with their websites and booking engines, ensuring smooth lead-to-lease workflows.
        2. Concurrent for Property Management: Concurrent is a property management system that helps our clients manage listings, bookings, and payments in a single platform. We’ve built a custom integration to sync booking data from Concurrent into HubSpot, giving our clients complete visibility over their tenant pipeline.
        3. Xero for Accounting Software: Xero has been our go-to accounting software for the past 10 years for its flexibility, ease of use, and powerful API ecosystem.
        4. Mayday for intercompany: We use Mayday to manage intercompany transactions for our clients with multiple Xero entities. It ensures that head office costs are accurately reallocated, making multi-entity reconciliations seamless and reducing manual effort.
        5. ApprovalMax for PO and Approvals: We implement ApprovalMax to streamline purchase orders and invoice approval workflows, including the ability to do OCR scanning so site teams can approve on the go, without needing direct access to Xero.
        6. Syft Analytics for Consolidation: We use Syft Analytics to consolidate financial data from different Xero files. This provides a clear, real-time view of their overall financial position.
        7. BackupMyBooks for External Backups: We use BackupMyBooks to provide an external backup and audit trail, ensuring compliance and data security for auditing and historical tracking.
        8. Make for Automation: Make acts as the glue for automating processes such as updating HubSpot and performing bulk updates in Xero. We also use it for integrations and workflow automation across different platforms.

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

      UPCOMING EVENTS

      🗓️ Join our upcoming webinar series!

      Series-1

      Scaling with Xero: "How far can you go?" (UK)

      20th Nov - 2nd Dec 2025, 11am GMT

       

      After a hugely successful run in Australia, CFO Techstack is delighted to bring our Scaling with Xero webinar series to the UK.

       

      Whether you’re feeling the friction of scale, eyeing off an ERP, or simply wondering what more Xero can do for your business, this series is for you.

       

      We're partnering with Xero, Joiin, ApprovalMax & Mayday to offer four free sessions designed to help scaling finance teams unlock the full potential of the Xero ecosystem.

      • Thurs 20 Nov, 11am GMT - Launch: Scaling with Xero: "How far can you go?"
      • Tues 25 Nov, 11am GMT - Scaling with Xero: Automating Consolidated Reporting
      • Thurs 27 Nov, 11am GMT - Scaling with Xero: Approvals & AP
      • Tues 2 Dec, 11am GMT - Scaling with Xero: Managing Month End

      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. New Xero-integrated cash flow tool
      2. US obligations advisors
      3. HR systems on Xero

       

      Keen to join? Sign up here >

      NEW IN THE WORLD OF CFO SOFTWARE

      🗞️ News from the stack-o-sphere

       

      • Mayday releases Mayday 2.0, the next step in their mission to mend month end for finance teams scaling without an ERP. Learn more.
      • Dext releases customisable exports and submit via WhatsApp features. Learn more.
      • Annature announces new ASIC Payments feature. Learn more.

      WHAT THE DATA SAYS

      📊 Stat of the week

       

      "48% of finance professionals say they second-guess high-level decisions."

       

      Research by Pleo

      MORE OF THE GOOD STUFF

      And lastly, our top picks!

       

      🎧 Podcast: "From zero to $6.2 Billion: Lucy Liu on the Airwallex strategy that broke global payments." WildHearts.

      📝 Article: "The Teamwork and Innovation Behind Cin7’s New Solutions." Built In.

      😆 Joke: If at first you don’t succeed, try a VLOOKUP.

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

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