Sacha Herrmann thrives in a fast-paced business environment. He cut his teeth at a large accounting firm before moving to the world of startups in 2002, drawn in by the excitement of working across teams and helping businesses grow.
About 18 months ago, Herrmann relocated from Switzerland to become CFO of Soldo, a UK-based fintech specialising in spend management. Here, he shares his views on leadership, discusses the challenges of a shaping an emerging industry and explains why he loves being a CFO.
How did you become a CFO?
I started my career as an auditor in a big accounting firm, where I had the chance to work with companies of different sizes and talk with CFOs and finance leaders, even as a junior. I thought that was interesting and challenging.
After a few years, I wanted to jump into more action, so I joined my first startup as a finance manager. From there, I stayed in the startup and tech world and eventually became a CFO. What excites me about the role is being in the middle of everything happening in a company and working across functions. I also enjoy the technical side of finance – dealing with accounting standards and interpretations and so on.
What skills or traits does a good finance leader need?
For me, it’s essential to be a team player and build strong relationships with other executives. The best way to help is to have strong relationships with others and to engage with people beyond just the CEO. I think a good CFO should avoid getting stuck in a narrow finance role and instead help the whole organisation move forward.
What excites you most about your current role?
The pace of the business excites me the most. We’re a fast-growing company and things change daily. That means I need to be agile and keep my problem-solving skills sharp. Every day there is something new coming up, which is pretty exciting – solving a problem, going from one resolution to the other resolution.
I also enjoy working at a company that offers a product that solves a real pain point in the market. It’s exciting to be part of creating something new using technology.
What’s the biggest challenge facing your sector at the moment?
Spend management is still an emerging space, unlike procurement, which is well defined. It’s sometimes hard to explain what we do because the market is just starting to take shape. It takes energy and time to educate customers and help the market grow.
Another challenge is that CFOs can be cautious about adopting new technology. Sometimes the risks feel bigger than the benefits, so convincing people that we can solve problems while keeping risks under control is a big part of what we do.
What single thing do you think would make your job easier?
Honestly, it comes down to strong sales. Being the CFO at a tech company is very enjoyable when the company is selling well. When sales are good, I can focus on planning and growth rather than analysing problems.
It also makes a big difference when there’s trust and transparency among executives. Working without silos makes everything smoother for a CFO.
What is the best bit of business advice you’ve ever received?
A partner at a Swiss venture capital firm once told me, “What matters is the direction of travel.” He meant that while accuracy and high standards are important, it’s not worth getting stuck on small details if it slows down progress.
I believe it’s better to have a shorter budget cycle and focus on delivering results than it is to spend ages perfecting a plan.
Which book should every finance leader read at least once?
I don’t have a single finance book I’d recommend to everyone. But, recently, I read Set Boundaries, Find Peace by Nedra Glover Tawwab. It’s mainly about personal life, but it applies well to work, too. As a CFO, I’m involved in many areas across the organisation, so it’s important to know where the boundaries are – what I’m directly accountable for and where I’m just supporting others.
What do you do outside work to protect yourself from burnout?
In winter, I love skiing in the Swiss Alps. But I run all year round. I prefer running alone, without music, because my job is full of conversations and noise and running helps me recharge. It’s easy to do. You can do it wherever you are. And it’s not that dangerous.
What’s been your proudest achievement in your current role?
I’ve only been at Soldo for 18 months, so I’m still working on building what might become my proudest achievements here.
But from my previous job, I’m proud of building a strong, cross-functional team across finance, legal, sales operations and IT. Together, we helped the company grow from £20m to £200m in annual recurring revenue, and the team grew from 200 to 1,000 employees in four and a half years. It was exciting to build the team from scratch and work with talented people.
If you weren’t a CFO, what would you be?
I love being a CFO. But if I had chosen another path, I would have liked to be a professional athlete. I wanted to become a professional ice hockey player, but I focused on studying instead and eventually became a CFO. I’m still a big fan of North American professional hockey and love watching the highlights.
Sacha Herrmann thrives in a fast-paced business environment. He cut his teeth at a large accounting firm before moving to the world of startups in 2002, drawn in by the excitement of working across teams and helping businesses grow.
About 18 months ago, Herrmann relocated from Switzerland to become CFO of Soldo, a UK-based fintech specialising in spend management. Here, he shares his views on leadership, discusses the challenges of a shaping an emerging industry and explains why he loves being a CFO.
