Rob Steele took an unconventional route to the CFO seat at Iplicit, a UK-based provider of cloud accounting and financial management software. Originally brought in as CEO in 2018 when the business had just six employees, he grew the team to 40 before stepping aside to let a new leader drive new growth.
Recognising where his skills could add the most value, he transitioned into the CFO role. The move gave him the opportunity to apply his broad knowledge of the business while focusing on finance and discipline. With a passion for building strong teams and effective frameworks, Steele now leads Iplicit’s financial strategy during a period of remarkable growth.
What skills or traits does a good finance leader need?
The obvious ones like clarity and resilience apply everywhere, but having a broad knowledge of the business helps you understand the detail behind budget requests. Another important trait is the ability to say no when everyone else wants to say yes. It’s not always easy, but if you’re transparent and clear about why, it makes for better decisions.
What excites you most about your current role?
Helping shape something truly market-defining. We are putting in place strategies now that could set us up to be a £100m revenue business. Since 2019, we have seen over 100% year-on-year growth and while that pace cannot last forever, it’s exciting to think about becoming one of the standout software-as-a-service success stories of our time.
What’s the biggest challenge facing your sector at the moment?
Technology is changing rapidly, but our biggest challenge is customer awareness. Finance teams often put up with poor software and weak support, sticking with what they have rather than seeking out better tools. If more people could see customer testimonials, they would understand the joy our users describe.
What single thing do you think would make your job easier?
Honestly, my job already feels easy. I am fortunate to be CFO of a company with a great product and a motivated, aligned team. That combination makes everything easier.
What is the best bit of business advice you’ve ever received?
“Hire slowly, fire fast.” The first 10 hires are the most crucial and getting those right sets the tone for everything else. We now spend five to 10 times more effort on hiring, even trying to put candidates off to make sure they are really ready for the challenge of joining a hypergrowth company. On the other side, firing fast may sound harsh, but delaying those decisions hurts culture and burdens the rest of the team.
Which book do you think every finance leader should read at least once?
I recommend Crossing the Chasm by Geoffrey Moore. It is a bit of a survival manual for saas companies, mapping the different stages of growth and the hurdles that come with scaling software businesses.
What do you do outside of work to protect yourself from burnout?
Cycling is my go-to. I love long rides, sometimes solo for hours, other times in a group for the social side. It’s one of the few things that forces me to switch off. Photography is another passion. It makes me slow down and appreciate the world around me.
What’s been your proudest achievement in your current role?
It would be easy to say 100% year-on-year growth, but that is really a collective achievement. Personally, I am most proud of the team we have built. Watching individuals grow and succeed, and knowing they are now driving the business forward, is incredibly rewarding.
If you weren’t a CFO, what would you like to do?
I would probably set up a vineyard on a cycling route with a coffee shop attached. It combines lifestyle, community and passion while still giving me a purpose – and a few grapes to crunch along with the numbers.
Rob Steele took an unconventional route to the CFO seat at Iplicit, a UK-based provider of cloud accounting and financial management software. Originally brought in as CEO in 2018 when the business had just six employees, he grew the team to 40 before stepping aside to let a new leader drive new growth.
Recognising where his skills could add the most value, he transitioned into the CFO role. The move gave him the opportunity to apply his broad knowledge of the business while focusing on finance and discipline. With a passion for building strong teams and effective frameworks, Steele now leads Iplicit's financial strategy during a period of remarkable growth.
