A year of learnings: Vicky Van Asbroeck shares her takeaways as a CFO at Preply
Our Chief Financial Officer just marked her one-year anniversary with us! She took a moment to reflect on her journey in handling all things financial here at Preply and shared some valuable insights she’s gained along this way💡
One year ago, I embarked on an exciting journey as Preply’s CFO. It’s hard to believe how time flies — I’ve been deeply immersed in the world of finance since 2005 (wow, my professional anniversary is just around the corner!). Over the years, I’ve worked in various industries, each with its unique financial landscape, but I never had SaaS experience. Before joining the Preply team, I was in charge of financial operations in the e-logistics sector at Lazada Group and, afterward, Chief Experience Officer at Vestiaire Collective. Trying some other verticals as well to get a more rounded marketplace overview, I was missing finance in my life. Just when I was contemplating making a change, Preply appeared on the horizon.
Upon my first encounter with Preply, the vibrant and collaborative culture immediately captured my attention. Here, competition isn’t the driving force; instead, it is all about elevating the team’s success above all else. With ambitious targets, a warm and open-minded team, and a dynamic business environment, I couldn’t help but recognize the perfect synergy between Preply and me, envisioning the input I could bring to the table in shaping Preply’s future.
It’s crazy how quickly the past year at Preply has zoomed by! It’s been a period of projects and initiatives that have seamlessly woven themselves into our workflow.
- During this time, we have doubled our team, adding some amazing people from the USA, Middle East, and Europe. We’re excited to continue expanding by hiring more talent for our financial department.
- We’ve done several acquisitions in different areas of the business.
- This summer, we’ve finalized an extension of our series C, securing more than $70 million in fresh funding and venture debt.
In the world of finance, CFOs are often seen as strict budget keepers who like to say “no” to new ideas. However, at Preply, we aim to challenge and reshape this perception. We are dedicated to transforming the traditional notion that the finance department solely acts as gatekeepers. Instead, we strive to establish a new model of collaboration, guiding the organization in understanding financial data independently and aiding in the establishment of realistic KPIs. In essence, we aspire to serve as a catalyst for team success and drive substantial impact.
Reflecting on the insights and takeaways from this year, one thing that stands out as a major pivot in my growth journey was transitioning into the world of SaaS. It was an entirely new sector for me, and the learning curve has been exciting. I’ve had the opportunity to dive deeper into the business processes of Preply, gaining a comprehensive understanding of critical SaaS metrics and the essence of our product. At Preply, we operate across different business directions, encompassing Preply Business and B2C. In navigating these landscapes, it became evident that building bridges, both in terms of people and processes, was essential. Cross-communication among our teams became the key to success across these different but interconnected areas.
Being mindful of budget constraints is important, but one valuable lesson I learned this year is that being overly cautious with hiring can have its downsides. If you were to ask me, ‘What would you do differently the last 12 months?’ my answer would undoubtedly be: “Hiring people faster”. In my eagerness to be cost cautious, I became extremely frugal and almost hesitant to bring new team members on board. I wanted to lead by example, showing that we could achieve results without expanding our workforce. However, this decision proved to be quite challenging as the team’s workload increased rapidly, and the need for additional hands became evident.
Now, in retrospect, I realize I should have recognized the need for growth sooner. We’ve since started expanding the team, establishing the right people and processes to handle our business strategy and identify fresh opportunities. I couldn’t be prouder of our progress as a team!
I won’t dive into what the next year holds. Our team lives by the principle “now is the time.” We’re already working to streamline processes and foster business growth with enthusiasm. Exciting times are coming!
We’re actively looking for talented candidates with a can-do attitude and a hunger for growth to join our ambitious journey at Preply. So if you’d like to work with Vicky and other talented Preplers check out our open positions here.
