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, we introduced the inaugural CFO Techstack Awards, recognising the individuals and apps who are pushing the boundaries of what a modern finance function looks like. Nominate someone today!

 

This week, we reflect on a recent FLAC meet-up, where finance leaders operating businesses with hundreds of millions in revenue, dozens of entities and lean finance teams shared why they choose to scale on Xero, rather than follow the traditional ERP path.

FEATURED ARTICLE

FLAC: What the most progressive finance leaders in the room are doing

 

On May 12th we brought the CFO Techstack Finance Leader Advisory Council (APAC) together in person at the Xero offices in Sydney for our quarterly FLAC Forum. Our first time ever bringing the APAC FLAC together in-person.

 

The FLAC is the representative body for finance teams scaling on Xero. These are finance leaders who are blazing the trail themselves; running businesses with dozens of entities, hundreds of millions in revenue, and teams operating across multiple jurisdictions.

 

What makes them remarkable isn't just the scale of what they're managing. It's that they're willing to share it openly, push the thinking forward, and give their time to a community they believe in.

 

You can meet the FLAC members and their organisations here.

 

Given we couldn't bring every one of you into that room, we wanted to bring the room to you. The day brought together special guest insights, a session with the Xero team, and open conversation from the APAC FLAC themselves - here's what came out of it.

 

The CFO <> CEO relationship

 

Rob Paterson, CFO of Employment Hero - one of Australia's fastest-growing HR and payroll platforms - joined us as a special guest at the beginning of the day. His session was, by a considerable margin, the most relatable of the day for the finance leaders in the room.

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What resonated most wasn't the scale of the business. It was his honesty about one of the most universal - and least discussed - challenges in finance leadership: the CFO <> CEO relationship.

 

In founder-led, mid-sized businesses, the dynamic is unique. You're working alongside a visionary who generates ideas faster than the organisation can act on them. As CFO, it can feel like being pulled in a new direction every week. Your job is to figure out what's genuinely feasible, what's a distraction, and how to deliver that assessment without losing the relationship or dampening the ambition.

 

That tension - between enabling bold thinking and enforcing operational reality - sat at the heart of Rob's session.

 

Rob and his CEO Ben have built a brilliant relationship over 10 years. And his key piece of advice to finance leaders navigating a similar dynamic:

 

Make the cost of redirection visible. Every time a new idea pulls you away from another, say so - make the trade-off clear so that your CEO starts to weigh their asks more carefully.

 

He also emphasised the importance of knowing the numbers. Making high-stakes decisions on a regular basis involves finance leaders’ giving CEOs clear information, and opinion.

 

“Know your numbers. If you have to say no, have a reason why”.

 

Xero: Developing for the M of SME

 

Throughout the day, we were joined by a number of the Xero team - including Charlie Sheppard (Executive General Manager, ANZ Strategy & Operations), Samuel Baldwin (Principal Product Manager), Angad Soin (Global Chief Strategy Officer and MD of Xero AU & NZ) and Claire Bramley, Xero's CFO.

 

They led a session of their own during the day, and joined us for dinner that evening.

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It was brilliant to have them there. They shared ideas they'd been working on, listened to the FLAC's feedback, and engaged with the challenges these finance teams are navigating day to day.

 

For the finance leaders in that room - people who have spent years building on Xero, defending that decision, and pushing it further than most thought possible - having Xero's leadership present and listening carried real weight.

 

And then, just days later, Xero announced the launch of their new Ultra plan - designed specifically for the mid-market businesses that the FLAC represent.

 

We covered the full announcement in detail in this article.

 

The Stories: Scaling on Xero at a level nobody thought possible

 

After the formal sessions, the conversations continued into the afternoon and evening.

 

Finance leaders talking freely. Sharing what they've built, what broke, what they'd do differently, and why they kept going.

 

Here we wanted to share just a handful of those stories.

 

Andy: The $500 million business that never left Xero

 

Andy Colalillo's story might be the clearest argument yet that the ERP default is over.

 

RSGx has grown to approximately $500 million in turnover, across 13 entities, in just six years. By almost any conventional measure, that's the point where ERP conversations become inevitable - and usually, unstoppable.

 

Andy has had those conversations. Repeatedly.

 

"People kept saying that 'at that scale you need an ERP' - well we're here already and we're fine."

 

What made his story particularly powerful was that he hadn't just resisted the pressure - he had tried the alternative and come back.

 

"MS Dynamics was like going back in time."

 

His team had invested considerable time and money on an ERP implementation. They’d even hired a team member to lead the process. But the deeper they got, the greater Andy’s conviction that this wasn’t the answer they’d been looking for.

 

That ERP implementation has officially been stopped. They are sticking with Xero.

 

Khalid: "I will never go back (to ERP)"

 

The most direct position came from Khalid Ahmed of EncompaaS.

 

Khalid had already seen firsthand what a failed ERP implementation could do to a business - during his time at The Iconic, where the operational damage was significant enough to permanently shape how he thinks about finance infrastructure.

 

Now, in his role at EncompaaS, he's scaling happily on Xero. He confidently admits he " will never go back (to ERP)".

 

For Khalid, it isn't a compromise. It's the deliberate choice of someone who has seen the alternative up close.

 

Josh & David: Scaling with a lean finance team

 

One of the strongest themes of the day was operational leverage.

 

The question this group keeps asking isn't just "how do we scale systems?" It's "how do we scale without building huge finance teams?"

 

Josh Hawkey of Tracksuit - one of New Zealand's fastest-growing SaaS businesses and the 2025 Deloitte Fast 50 winner - has built a reputation for running an exceptionally lean finance function relative to the scale of the business. An early adopter of automation-first workflows, Josh's approach consistently challenges the assumption that growth requires headcount.

 

David Loeffler of Public Sector Group put the same idea in starker terms: six jurisdictions, three people in finance. Without significant ERP infrastructure.

 

Examples like these kept surfacing throughout the day - and they kept challenging the same embedded assumption: that scale automatically demands larger teams and heavier systems.

 

The finance leaders in this group are arguing the opposite.

 

Ernest: Unlimited budget to not buy an ERP

 

Ernest Chunge took a different approach entirely. Rather than allocating budget toward an ERP migration, he gave his team what he described as an effectively unlimited budget to scale on Xero instead.

 

The framing alone says something about where finance leadership is heading.

 

He also delivered what might have been the line of the evening:

 

"The stack is never finished."

 

We may have that framed on the wall.

 

What finance leaders actually want

 

What finance leaders actually want, it turns out, is simple: a system that works, a community that's honest, and proof that the path they've chosen is the right one.

 

The FLAC are that proof.

 

They are the people actually doing it - scaling complex, multi-entity businesses on Xero, collaborating on real challenges, and constantly finding new solutions to problems that used to send finance teams straight to the ERP conversation.

 

What they represent collectively is something important: proof that the old default is gone.

 

ERP is not dead. There are businesses where it remains the right answer, and there always will be.

 

But for a growing number of finance leaders - like the ones in that room - ERP is no longer the automatic answer. It's not even the first conversation.

 

Andy Colalillo's story says it best. Half a billion dollars. Thirteen entities. Six years of growth. And still on Xero.

 

The default has changed. The FLAC is what that looks like in practice.

COMMUNITY INSIGHTS

🎤 How I Stacked It

Katy Hazley, Finance & Operations Manager at SourceFlow, shares her tech stack.

SourceFlow is a recruitment marketing platform, building websites, career portals, and marketing tools that amplify ROI and provide transparency with state-of-the-art data insights for recruitment firms. Leading recruitment brands such as NES, Impellam, Source Group International & RSS use SourceFlow to drive digital transformation and revenue.

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As Finance & Operations Manager, Katy Hazley is the only full-time finance head, supported by a fractional CFO. She takes care of end-to-end finances from transactional through to the management accounts and everything in between! She also works across all internal operations, including people and culture, IT, office management and events.

 

Here's what Katy and her team are using:

  1. Chargebee for Invoicing: Chargebee automates recurring invoicing seamlessly, enabling us to easily manage large numbers of customers. It also syncs nicely with Xero.
  2. Mayday for Intercompany: Mayday simplifies our intercompany reconciliation with one-click postings and has enabled us to post two years of unposted one-sided transactions in half a day! It's easy to see at a glance where any one-sided postings are, as well as the correct FX rates. I'll be looking at the new Deferred Revenue and Prepayments modules next!
  3. Moss for Cards & Expenses: Moss enables us to give the team autonomy while bringing in control and accountability, used across cards, subscription cards, reimbursements and invoicing. The level of 2FA is through the roof!
  4. Wise for Banking: Wise is easy to use and syncs well with Xero. One thing is that no interest is earned, and you are unable to submit future-dated batch payments for salaries.
  5. HiBob for HRIS: HiBob is a single source of truth for our business.
  6. Shape Payroll for UK Payroll: Shape Payroll is an integrated payroll platform that drives efficiency.

Keen to share how you stack it? Email: will.kennard@getmayday.com

    UPCOMING EVENTS

    State of the Stack Roadshow - Perth 🚗

    Weds 10th Jun | The Hub, Elizabeth Quay, The Esplanade, Perth

     

    Off the back of CFO Techstack’s inaugural State of the Stack 2026 report, headline sponsored by Xero, we’re taking the insights on the road, offering:

    • Honest stories from finance leaders on how they’ve built their stack and what it really costs
    • Practical guidance from implementation experts on how to design and optimise your own stack
    • Hands-on demos from the “Survival Toolkit”: Mayday, Syft, and ApprovalMax - see what great looks like in action

    Register now for free here!

     

     

    Take control of your cash flow before it controls your business

    Tues 30th Jun, 11am BST | Webinar

     

    Many businesses appear healthy on paper but still struggle with unpredictable cash flow. Payments arrive later than expected, forecasts feel unreliable, and issues often only become visible when pressure builds. In most cases, this is the result of limited visibility across receivables, customer behaviour, and internal processes.

     

    This webinar will show you how to move beyond guesswork by giving you a clearer, real time view of your receivables and future cash position. You will learn how to spot early signals, improve predictability, and take control of your cash flow with practical, repeatable actions.

     

    Register now for free 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. Building connectors/apps using Claude code 
    2. Build-vs-buy line as AI tooling matures
    3. Accounts payable solutions
    Keen to join? Sign up here >

    NEW IN THE WORLD OF CFO SOFTWARE

    🗞️ News from the stack-o-sphere

    • Dext launches Core Guidance in AI Assist. Learn more.
    • Employment Hero releases improved EmploymentOS. Learn more.
    • Modulr releases payments automation upgrades. Learn more.

    WHAT THE DATA SAYS

    📊 Stat of the week

     

    "When companies added just two no-meeting days per week, productivity rose by 71%, satisfaction went up by 52%, stress dropped by 75%."

     

    Research by MIT Sloan Management Review

    MORE OF THE GOOD STUFF

    And lastly, our top picks!

     

    🎧 Podcast: "Where global business, finance, and AI meet." The Airwallex Podcast.

    📝 Article: "8 Ways to Improve your Fnancial Forecast." Brixx.

    😆 Joke: A CFO’s favourite exercise? Running variance analysis.

     

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

     

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