The B2B SaaS Benchmark Report is here — see how your KPIs measure up to industry benchmarks.
See How You Rank
The Role Forward

Parker Gilbert on Accounting Data Hygiene

In this episode of The Role Forward podcast, our host Joe Michalowski welcomes Parker Gilbert, the CEO and co-founder of Numeric. They discuss the importance of data cleansing, why data cleaning is a timely but worthwhile process, and the benefits of a strong relationship between finance and accounting.

Subscribe to the podcast

Share:

Episode Summary

No matter your industry, clean data results in well-informed decisions. By keeping your data clean and accurate, you save time from searching for answers and reconciliations and can spend more time diving into the “why” behind your numbers and making actionable insights.

But for companies who experience hypergrowth or need to make a switch to a new source system, how do you effectively clean your company’s data?

In this episode of The Role Forward podcast, our host Joe Michalowski welcomes Parker Gilbert, the CEO and co-founder of Numeric. They discuss the importance of data cleansing, why data cleaning is a timely but worthwhile process, and the benefits of a strong relationship between finance and accounting.

Watch the Full Video

Featured Guest

Parker Gilbert

Co-Founder and CEO, Numeric

Parker Gilbert is a Co-Founder and the CEO of Numeric, a SaaS company transforming accounting workflows to modernize the month-end close and other processes. Parker was the first finance hire at Hearth, a fintech company helping home improvement contractors grow and manage their business. Parker also met his fellow Numeric co-founders early in his career.

Key Themes from the Episode
  • Data cleaning is a crucial aspect of data management. If data isn’t accurate, executive leaders won’t be able to make decisions that have a proactive, strategic impact on the company’s financial health.
  • Even though data cleansing takes significant time and effort, it pays off in the long run. When companies go through maturation with clean data, the data is able to flow into new accounting and source systems, which leads to faster management in a scalable, repeatable, and trustworthy manner.
  • Financial and accounting departments are intertwined, so it's essential they have a close relationship. But these departments also need to know how to collaborate with other departments, especially sales. When departments align on the same goals and find a common language, workflows run smoother and problems are solved quickly.

Episode Highlights from Parker Gilbert

08:18 — The Month-End Close Is a Data Problem

“I think a lot of what we think about is the month-end close being a little bit less of a workflow and compliance process. It is those things, but equally, it’s a data problem, and it’s a question of how do you ensure that these data sets that the accounting team is the owner of, is responsible for, are correct, are up to date, are complete, and not just at sort of an aggregated level ,but also on a transaction level. How do we ensure that vendors are attached to every single expense? How do we ensure that for marketing campaigns, we’re really sort of enriching them with the right data points to ensure that the marketing leaders can use the information that is most useful to do their jobs better?”

27:18 — Take Your Data Cleanup One Step at a Time

“I think the first thing that I would sort of highlight at a really high level is that this should be something that’s iterative, and it shouldn’t be something that is viewed as a project of we’re going to go from having data that’s a mess to data that’s perfect. The world doesn’t work that way, and nor does it need to. And so again, I think getting into a mindset, which is, ‘What are the most important things that we can start to chip away at and where can we start to make incremental improvement in terms of we are improving.’ This sort of data quality and hygiene in systems, I think is super important.”

36:21 — Accounting Should Be Involved in the Company’s Decision-Making Process

“So many of these operational decisions should be happening with more input from the accounting team and from the places where we have real confidence that things of the dollar sign are being counted correctly and processed. And so, if you’re not moving quickly enough and understanding what are some of those more real-time, continuous decisions that are not happening on a clean period-by-period basis — which is sometimes, but not always, the way business decisions work — you’re going to start getting carved more and more out of the loop of like, ‘How do those processes happen?’”

Full Transcript