CFO Case Study: Hiring the Right Finance Leadership at a £30m SaaS Business
CFO Case Study: Hiring the Right Finance Leadership at a £30m SaaS Business
A business at the £30m SaaS growth stage typically requires a Head of Finance rather than a CFO if the primary bottlenecks are foundational—such as inconsistent forecasting, lack of process ownership, or immature reporting structures. Hiring a CFO prematurely can lead to "executive-level" focus on "operational" problems, whereas establishing a Head of Finance first builds the scalable infrastructure necessary for a CFO to drive strategic value later.
Harper May supported a £30m SaaS business in assessing its finance leadership requirements during a key growth stage. With strong revenue growth and increasing operational complexity, the business initially considered hiring a CFO. However, through benchmarking and detailed assessment, it became clear that the immediate need was not CFO-level leadership, but the right structure to support future growth. This case study highlights how appointing a Head of Finance at the right stage created the foundation for a successful transition to CFO recruitment.
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Challenges in Finance Leadership at the £30m SaaS Growth Stage
At this stage of growth, SaaS businesses often face increasing pressure on financial reporting, forecasting, and decision-making. In this case, the business faced several recurring hurdles:
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Inconsistent Forecasting: A lack of structured processes leading to unreliable forward-looking data.
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Accountability Gaps: No clear ownership of finance operations across the organisation.
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Stakeholder Pressure: Growing demands for visibility that legacy processes couldn't satisfy.
While these challenges are often associated with CFO-level hiring, they frequently indicate a need for stronger finance systems & transformation rather than immediate executive leadership.
How Harper May Benchmarked the Finance Leadership Requirement
Rather than proceeding directly to market, we benchmarked the business against similar SaaS companies at comparable growth stages. Our assessment focused on:
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Reporting Maturity: The ability of the existing function to produce investor-grade MI.
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Scalability: Whether the current infrastructure could support the business at £60m+.
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Readiness: Determining if a CFO would be spending 70% of their time on "clean-up" rather than strategy.
This identified a key insight: The business required an operational finance layer first to create the necessary "runway" for a future CFO.
⚡ Is your finance team struggling to keep up with your growth? If you have an open vacancy or need to upgrade your financial leadership to support a capital event, Contact Us today for a confidential consultation.
How Harper May Delivered the Head of Finance Appointment
Following this assessment, Harper May led a targeted search for a Head of Finance with the capability to build structure and scale. The process included:
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Targeted Outreach: Engaging finance professionals with specific experience in mid-stage technology scaling.
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Process Alignment: Assessing candidates on their ability to build forecasting frameworks from scratch.
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Strategic Forecasting: Aligning candidates to the business’s future requirements for strategic finance & transformation.
Impact: Building the Foundations for Scalable Growth
Following the appointment, the business moved from reactive reporting to a proactive financial strategy:
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Reporting Discipline: Financial forecasting became structured, consistent, and audit-ready.
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Process Ownership: Clear accountability was established across all financial operations.
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Visibility: Management gained the control needed to make data-driven commercial decisions.
The Turning Point: Right Level of Leadership at the Right Time
This appointment represented a key turning point. By putting in place the right level of leadership, the business avoided the common pattern of hiring a CFO to fix operational problems. This ensured that when they eventually moved to CFO-level leadership, the business gained maximum ROI because the foundation was already stable.
Rethinking CFO Recruitment in SaaS Businesses
Hiring a CFO too early can limit effectiveness if the underlying finance function is not yet mature. In many SaaS businesses, appointing a Head of Finance first provides the structure needed to support sustainable growth and future leadership progression. If your SaaS business is assessing its finance structure, Harper May supports organisations at every stage of growth.
Explore our SaaS finance recruitment services, including CFO recruitment and Finance Director recruitment, to build functions that scale effectively.
📞 Ready to find your next Finance Leader? Don't let an open vacancy hold back your expansion. Call our London office today or Book a briefing call to discuss your specific hiring needs. Explore our available candidates here.
Frequently Asked Questions
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What is the difference between a Head of Finance and a CFO in a SaaS business? A Head of Finance typically focuses on the "engine room"—reporting, controls, and process efficiency. A CFO focuses on the "horizon"—strategy, capital allocation, and external investor relations.
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When should a £30m SaaS business hire a CFO? A business should hire a CFO when it is ready to move beyond operational setup and focus on major capital events, complex institutional reporting, or international scaling.
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How does a Head of Finance prepare the business for a future CFO? They professionalise the data, implement scalable systems (like NetSuite or Sage Intacct), and establish a rhythm of reporting that allows a future CFO to walk in and immediately focus on high-value strategy.
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Where can I get support for SaaS finance recruitment in London? Harper May supports SaaS businesses across London and the UK with a specialist desk dedicated to Executive Search, ensuring your finance function evolves in lock-step with your growth.
