Short excerpt from a YouTube talk (by Jason M. Lemkin) advising startups on managing rising payroll costs as they scale. The speaker emphasizes upgrading finance and people functions as payroll grows: hiring a controller (head accountant) who supervises accountants handling invoicing, billing, and collections; building a recruiting team; and appointing a director of HR.
That is becoming a much more important function because your payroll has gone up a lot. You're burning a lot more money. You need to make sure you're playing that correctly. You now have a controller. A controller is a fancy term for head accountant. So you've gone from, you know, one IC accountant to actually having a controller for the company. They have a couple of accountants under them. They're doing stuff like invoicing and billing, making sure that they're actually collecting on your customer contracts. You now have a recruiting team and you now have. You actually need a director of hr, all right?
