Value Drivers

From Rubrik to Maxima AI: Yogi Goel on Agentic AI for Accounting

In this episode, Yogi Goel, co-founder and CEO of Maxima AI, discusses his path from EY, Wall Street, and Rubrik to building a company focused on applying agentic AI to accounting and record-to-report workflows. Yogi started his career at EY, where he developed a foundation in audit, accounting standards, controls, and how large companies operate. He later worked in finance and capital markets before joining Rubrik, where he saw firsthand how finance and accounting operations need to evolve as companies scale. That experience shaped the problem Maxima AI is focused on today: accounting teams still spend too much time on manual work, spreadsheets, reconciliations, checklists, and system-to-system coordination. What Maxima AI Is Solving A big theme in the conversation is that accounting workflows matter more than many people realize. Record-to-report is not just a back-office process. It affects close speed, audit readiness, reporting confidence, and management visibility. Yogi explains how Maxima AI fits into the accounting workflow as an agentic system of work. The goal is not to replace the ERP or remove human judgment. Instead, Maxima AI helps prepare accounting work so finance teams can review, approve, and move faster with better control. Where AI Fits in Finance Peter and Yogi discuss how AI should be used in finance and accounting, especially in workflows where teams still rely on manual review and repetitive coordination. One important distinction is the boundary of automation. Yogi's view is that AI can take on more of the preparation work, but human judgment still matters. CFOs, controllers, and auditors need confidence that the work is accurate, explainable, and auditable before it reaches the general ledger. CFO Lens: Trust, Controls, and Auditability For CFOs, AI adoption is not just about speed. It is about trust. Yogi notes that finance leaders should not feel pressure to rip and replace existing systems. A more practical path is to start with lower-risk workflows, build confidence, and then expand over time. That makes controls, audit trails, and clear human review essential to adoption. The Future of the CFO Office The conversation also looks ahead to how the CFO office may evolve over the next several years. If AI adoption increases, the role of accountants and analysts may shift away from lower-value manual work and toward review, judgment, risk management, and business insight. For CFOs, the opportunity is not just a faster close. It is building a finance function with more capacity to help the business make better decisions. Key Takeaways • Accounting teams are still dealing with too much manual workflow complexity • Record-to-report affects close speed, controls, audit readiness, and financial visibility • Agentic AI can help prepare accounting work, but humans still need to review and approve key judgments • CFO adoption depends on trust, controls, auditability, and clear boundaries around automation • AI can work alongside existing systems rather than replacing them immediately • The finance function may become more strategic as repetitive tasks become more automated Chapter Summary (02:13) Yogi Goel shares his background across EY, Wall Street, Rubrik, and Maxima AI (06:14) The discussion turns to the accounting problem Maxima AI is solving (10:41) Yogi explains how Maxima AI fits into record-to-report workflows (15:08) Peter and Yogi discuss CFO adoption, controls, auditability, and trust (20:01) The conversation explores where automation should stop, slow down, or require human judgment (24:02) Yogi shares his view on how the CFO office may evolve over the next several years (28:55) The discussion turns to ERPs, systems of record, and why so much work still happens in Excel (33:22) Yogi reflects on lucky breaks that shaped his career and the relationships that helped shape Maxima AI Resources Maxima AI: https://www.maxima.ai/ [https://www.maxima.ai/] Stay Updated: Please visit Brio360 for other episodes and resources on driving value creation https://brio360.com [https://brio360.com] Follow our host: Peter Ho https://linkedin.com/in/peterhocm [https://linkedin.com/in/peterhocm] Know a great guest for Value Drivers? Pitch founders, CEOs, CFOs, operators, or investors with standout capital allocation and scaling stories: media@brio360.com [media@brio360.com] Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

From Vendor Sprawl to AI-Driven Finance: Sara Wyman's Journey with Stackpack

In this episode, Sara Wyman, founder of Stackpack, discusses her journey from Wall Street to operating roles at high-growth companies like Etsy and Affirm, and how those experiences led her to focus on vendor spend, contracts, and operational complexity. At Etsy and Affirm, Sara saw the same issue appear again and again: vendor management was often handled through spreadsheets, even as companies scaled. Contracts, approvals, invoices, ownership, and usage data lived in different places, making it difficult for finance and operations teams to understand what the company was actually spending. Where Stackpack Fits in the AI Wave A big theme in the conversation was how finance is evolving. Cloud gave companies better access. Big data gave them more visibility. AI is now pushing finance toward judgment and action. Sara described Stackpack as sitting at the intersection of the data problem and the decision problem. Instead of simply showing vendor spend, Stackpack helps companies understand ownership, usage, renewals, contracts, and savings opportunities. Why Existing Tools Fall Short Sara breaks the market into two broad categories: • Spend tools, which are often transaction-focused • Procurement tools, which are often built for large enterprises The gap is context. Finance teams may see the transaction, but not who owns the vendor, whether the tool is being used, whether pricing is fair, or whether there is duplicate spend elsewhere in the company. CFO Lens: Day One vs. In the Trenches Stackpack is especially relevant for new CFOs trying to gain control quickly. Sara noted that new CFOs often need fast visibility into spend, contracts, renewals, and savings opportunities so they can show command of the business early. For CFOs already in the trenches, the value is more ongoing: reducing wasted spend, managing renewals, benchmarking vendors, and bringing more discipline to fast-moving categories like AI spend. Key Takeaways • Spreadsheets are still the default system for vendor management in many companies • AI spend is becoming a fast-moving P&L line item • Visibility alone is not enough; finance teams need tools that drive action • Vendor sprawl creates both cost leakage and ownership confusion • For startups, a "no now" is not always a "no forever" Chapter Summary (01:00) Sara Wyman shares her path from Wall Street to Etsy, Affirm, and founding Stackpack. (03:50) The conversation shifts to the broader finance evolution from cloud to big data to AI. (09:02) Sara explains the vendor sprawl problem and why spend and procurement tools often miss the full context. (17:25) The discussion turns to CFO priorities, including Day One visibility, control, and fast wins. (23:18) Sara discusses Stackpack's product focus, AI agents, go-to-market priorities, and rising AI spend. (28:24) Sara shares her book recommendation, reflects on founder luck, and explains why "no now" is not always "no forever." Resources Stackpack: https://www.stackpack.ai/ The Second Mountain by David Brooks Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com [https://brio360.com] Follow our host: Peter Ho https://linkedin.com/in/peterhocm [https://linkedin.com/in/peterhocm] Know a great guest for Value Drivers? Pitch founders, CEOs, CFOs, operators, or investors with standout capital allocation and scaling stories: media@brio360.com [media@brio360.com] Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

From Deloitte to Biotech: Neil Tween's Journey in Financial Leadership

This episode features Neil Tween, CFO of Owlstone Medical, and his path from audit at Deloitte into biotech and life sciences. He started in accounting, which gave him a strong foundation in public company reporting and SEC requirements. But what really pulled him was the science side and working on "novel things." That led him to roles where he could get closer to the business itself. After a controllership role at a gaming company, he joined GW Pharmaceuticals and helped navigate a NASDAQ IPO and the shift from R&D into commercial scale. What Owlstone Medical Is Working On At Owlstone Medical, Neil is focused on non-invasive diagnostics using breath analysis to detect diseases like lung cancer and tuberculosis. The idea is simple but powerful: reduce the need for invasive procedures like biopsies so more people get screened earlier. Part of this work is supported by the Gates Foundation, especially around making diagnostics accessible and cost-effective in global markets, including Africa. Diagnostics vs Therapeutics One of the more interesting parts of the discussion is how different diagnostics are from therapeutics. • Diagnostics tend to be a slower ramp with lower peak revenue • But they often last longer and require less expensive clinical work There's also a lot of uncertainty. Clinical timelines rarely go exactly as planned. Neil described the CFO role here as more of a "cautious brake," someone who stress-tests assumptions and builds scenarios for things like slow patient recruitment or regulatory delays. From Pre-Revenue to Commercial A big theme was how things change once revenue starts showing up. • Before approval, it's all scenario planning and probability weighting • After approval, the focus shifts quickly to execution Neil emphasized the importance of building a "war chest" that extends beyond just funding the clinical trial itself. In practice, companies need enough capital to absorb delays, analyze results, and fund follow-on work, not just reach the initial data readout. One key point: once a product is approved, the clock starts ticking on exclusivity. Any delay in launch directly impacts the most valuable revenue window. This makes commercialization timing a high-stakes decision, where teams often need to invest ahead of certainty. Building the Finance Function Scaling finance isn't just about hiring more people. • The UK has strong R&D talent • But commercialization often requires very specific experience (US rebates, Medicare, Medicaid) That usually means bringing in people who have done it before. Timing those hires matters more than most people expect. Neil also emphasized staying in close dialogue with the board and auditors during these transitions to keep things stable while the business is moving fast. Key Takeaways • Don't stay only in finance, get into the operations • Get under the hood of the business • Be able to explain the company as well as the technical teams • Stay optimistic, but plan conservatively • Protect the company's capital • Work on things you actually find interesting Chapter Summary (00:01:00) From Deloitte to GW Pharmaceuticals and IPO experience (00:05:51) Owlstone Medical and breath-based diagnostics (00:11:12) Gates Foundation partnership and global health focus (00:14:41) Why clinical timelines rarely go as planned (00:22:24) Diagnostics vs therapeutics economics (00:28:30) Hiring for commercialization and finance scaling (00:37:09) Book recommendations and leadership advice Resources • Bad Blood by John Carreyrou • The Curious Case of Mike Lynch by Katie Prescott • Prisoners of Geography by Tim Marshall Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com [https://brio360.com] Follow our host: Peter Ho https://linkedin.com/in/peterhocm [https://linkedin.com/in/peterhocm] Know a great guest for Value Drivers? Pitch founders, CEOs, CFOs, operators, or investors with standout capital allocation and scaling stories: media@brio360.com [media@brio360.com] Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

AI at the Edge: Solving Labor Shortages with Ruggedized Autonomous Tech

In this podcast episode, Colin Hurd, the CEO of Mach, discusses his decade-long journey in the autonomous vehicle space, beginning with his first company, Smart Ag, in 2016. The initial inspiration for his work came from observing farmers struggle with severe labor shortages and realizing that existing drone navigation technology could be adapted to heavy machinery. After Smart Ag was acquired by Raven Industries, Hurd launched Mach in 2022 with a unique strategy: instead of building from the ground up, he merged two existing companies to gain 15 years of established R&D and a "full-stack" solution immediately. Mach operates as a Tier 1 supplier, integrating its autonomy technology directly into OEM equipment at the factory level. The company is industry-agnostic, serving sectors such as agriculture, construction, land care, and defense across multiple countries. By focusing on a core platform consisting of perception, navigation, and communication, Mach can scale horizontally, applying lessons learned in one field, like orchards, to another, like solar fields. This approach allows for higher R&D returns and competitive pricing through cross-market purchasing power. The industry faces headwinds from past startups that failed to deliver reliable products in harsh physical environments. Hurd notes that unlike pure software, there are no shortcuts in physics; products must be ruggedized for "dirty and dangerous" jobs. Regarding fundraising, Hurd observes a shift where investors are now more comfortable backing physical products and AI at the edge. However, he maintains a pragmatic approach to capital, preferring to raise smaller amounts to fine-tune business models and focus on cash flow before scaling massively. Key Takeaways For entrepreneurs and CFOs, Hurd's experience emphasizes the value of strategic M&A to bypass the "school of hard knocks" and enter a market with a mature product from day one. He cautions against over-valuation and raising too much capital too early, which can create unsustainable expectations before a product is proven at scale. A major strategic insight is the Tier 1 partnership model, which, while requiring longer engineering cycles, provides a more capital-efficient path to massive distribution by leveraging existing OEM support and distribution systems. Finally, Hurd underscores that the foundation of a successful venture lies in a mature, mission-focused team and the crucial personal support systems that allow founders to take calculated risks. For OEMs, the real decision isn't just adopting autonomy, it's build versus buy. Larger players may invest internally, but mid-sized OEMs can accelerate time to market by partnering with a Tier 1 provider like Mach. This shifts autonomy from a heavy R&D burden into a more flexible combination of hardware and software licensing. The tradeoff is clear: faster deployment and lower upfront investment versus longer integration cycles tied to product design timelines. For CFOs, this becomes a capital allocation question, balancing speed, control, and return on invested capital. Chapter Summary (00:01:03) Colin Hurd, CEO of Mach, is introduced as a veteran of the autonomy space who previously founded Smart Ag. (00:01:47) His journey began in 2016, seeking to solve farm labor shortages after being inspired by a farmer who used drone controllers to automate tractors. (00:07:32) Mach was founded in 2022 through a strategic merger of two existing companies, providing 15 years of R&D and a "full-stack" solution from day one. (00:10:09) As a Tier 1 supplier, Mach integrates autonomous technology across industries like agriculture, defense, and construction for almost 35 different OEMs. (00:13:39) Hurd explains that technology must be ruggedized to overcome skepticism caused by past failures in harsh off-highway environments. (00:21:09) Hurd advocates for a pragmatic capital approach, raising smaller amounts to reach cash flow while noting that investors are now more comfortable with physical AI products. (00:26:38) Scaling through OEM distribution ensures capital efficiency, though the business must remain patient while navigating long engineering and design cycles. (00:32:13) Finally, Hurd attributes his success to a mature, mission-focused team and the critical personal support system provided by his spouse. Resources: The 5 Types of Wealth by Sahil Bloom https://mach.io/ [https://mach.io/] Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com [https://brio360.com] Follow our host: Peter Ho https://linkedin.com/in/peterhocm [https://linkedin.com/in/peterhocm] Know a great guest for Value Drivers? Pitch founders, CEOs, CFOs, operators, or investors with standout capital allocation and scaling stories: media@brio360.com [media@brio360.com] Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

Scaling Boba Bhai: The CFO's Playbook for Category Leadership and Rapid Growth

Kishore SM is the CFO of Boba Bhai, a fast-growing consumer brand defining the boba tea category in India. He brings more than 26 years of experience across global corporations such as Caterpillar and high growth startups such as Flipkart. Since launching in late 2023, Boba Bhai has scaled to nearly 100 company owned locations, intentionally avoiding the franchise model to maintain full control over operations and quality. The company is now targeting 250 to 300 stores by the end of 2026. To resonate with the Indian market, Boba Bhai localizes its menu with flavors like Aam Panna mango and expands into Korean inspired sides, burgers, and rice bowls. The brand focuses heavily on Gen Z, participating in events like Comic Con and building anime themed store designs and narrative driven packaging that changes by city. Kishore shared how moving from large corporates to startups required him to unlearn rigid processes. Instead of perfectly reconciled data and long planning cycles, he now prioritizes speed, daily cash visibility, and direct collaboration with founders. Operational speed comes from heavy standardization of store fit-outs, allowing new locations to open within three weeks of signing a lease. On the supply chain side, he emphasizes building redundancy with multiple vendors to avoid stockouts and margin erosion in a perishable product environment. Key Takeaways for CFOs and Entrepreneurs Capital allocation starts with ROI, but the real work is diagnosing bottlenecks. Kishore frames it as: when capital shows up, don't "spread it around" across functions, decide which constraint is limiting growth and fund that first. 1. New store openings (capacity and footprint) 2. Brand building and customer acquisition (demand) 3. Supply chain and capacity investments (availability and margin protection) 4. Working capital plus tech infrastructure (control and scalability) New stores are governed by store economics. The decision rule is store level EBITDA plus a payback of under 24 months. He also emphasizes building geographic density and brand visibility so revenue compounds, rather than scattering one-off stores. Brand spend is judged by store ramp and LTV to CAC discipline. They accept that store sales ramp over time, so they track how quickly new stores mature, while holding the line on LTV being more than 5x CAC. Below that, it is "bleeding money." Decisiveness matters. Underperforming SKUs are removed quickly to avoid working capital drag and inventory waste. Fundraising requires radical honesty. Sophisticated investors quickly detect exaggeration, and transparency builds long term trust. Fundraising is continuous. The next round effectively starts once the current one closes to maintain runway. Investor targeting matters. Founders should approach investors aligned to the company's current check size rather than firms whose minimum tickets are too large. Unit economics must be proven early. The first 20 stores provide the data and confidence to scale into rapid expansion. Episode Highlights (00:02:20) Kishore walks through his 26-year career across startups and large public companies including Flipkart and Caterpillar (00:10:15) He explains unlearning corporate processes and prioritizing speed and insight over perfect data and polished reporting (00:15:17) Boba Bhai has scaled to nearly 100 company owned stores with a target of 250 to 300 by 2026 (00:16:09) Capital allocation focuses on sub 24 month store payback and maintaining a 5x LTV to CAC ratio (00:22:41) The brand engages Gen Z through Comic Con, anime inspired stores, and localized storytelling in packaging (00:29:44) Growth is accelerated by removing low performing SKUs and using a 3 week standardized store build process (00:34:05) Fundraising advice includes radical honesty, matching investor check size, and treating fundraising as a 12 month rolling process Books Mentioned The Hard Thing About Hard Things by Ben Horowitz Playing to Win by A.G. Lafley The Great CEO Within by Matt Mochary Venture Deals by Brad Feld and Jason Mendelson Secrets of Sand Hill Road by Scott Kupor Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com [https://brio360.com] Follow our host: Peter Ho https://linkedin.com/in/peterhocm [https://linkedin.com/in/peterhocm] Know a great guest for Value Drivers? Pitch founders, CEOs, CFOs, operators, or investors with standout capital allocation and scaling stories: media@brio360.com [media@brio360.com] Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.