Phocas Appoints Prominent Chief Financial Officer for New Growth Cycle
A new CFO for Phocas is timely as the data analytics company launches planning, analytics and reporting solutions that make financial data more accessible to both finance teams and other managers in wholesale distribution, and retail sectors. Supply chain uncertainty, demand fluctuations, cashflow concerns and disruption of the pandemic makes “knowing your numbers” even more vital to goods-based businesses.
Phocas Software today announced the appointment of Dave Boorman as its new Chief Financial Officer (CFO). Boorman successfully managed Phocas’ recent AU$45 million capital raise, then accepted a permanent role. As CFO, he will support the data analytics software company’s expansion plans as the investment capital is deployed, propelling Phocas to reach the next milestones in its growth plans.
Boorman brings a wealth of experience from senior finance roles with multi-nationals and listed companies, including Seven West Media and Vodafone, most recently serving as the CFO for Network Ten during the transformational years before its sale to CBS Corporation.
Myles Glashier, CEO of Phocas, said, “Dave knows how to plan and execute for growth. We are excited to have someone of his caliber join our leadership team. It gives me confidence that Phocas is a sought-after culture and a company with a great future.”
“Dave will work with the global team to map out and follow our sustainable growth path, one with good returns for all of our stakeholders, including our people, our customers and the planet,” added Glashier.
The company is already using investment funds to bolster a product development hub in Christchurch, New Zealand. Phocas will add 40 more software engineers, including machine learning specialists to its existing team by year-end.
“Phocas’ financial performance in its bootstrapped-phase, resilience during the pandemic and the culture impressed me. Phocas does a great job of developing data analytics and reporting solutions that people need, are straightforward to implement and easy-to-use,” said Boorman.
Phocas launched its cloud-based financial planning and analysis solution, which broadens its offering to the mid-market finance team, helping them modernize spreadsheet-based processes and share financial data in a secure, companywide way.
Boorman added, “The mid-market finance office is moving towards corporate financial performance reporting — accelerated by the disruption of the pandemic — but it never had an accessible solution like Phocas that knits all the financial processes together. Finance teams can quickly determine the drivers of performance, model scenarios, determine cash positions and deliver reports with new efficiencies. It’s an exciting time to be joining Phocas.”