Accounting Oversight in Product Launch Planning
As many organizations prepare to launch a new or enhanced product the question that is inevitably asked – generally late in the process – ‘has anyone talked to Accounting?’ The reasons for engaging the CFO and the Accounting team are often misunderstood across high-tech companies. Accounting is critical to the product launch process and should be involved in any product launch plan from the outset.
Why is Accounting important to the product launch process?
- Accounting (the CFO) generally approves pricing (or at a minimum has veto power) and needs to understanding the rationale behind your pricing strategy. The last thing a product manager wants is a pricing scheme that is incompatible with the business plan.
- Accounting owns the billing systems. Getting Accounting to update back-office systems is critical. If you don’t have Accounting involved and you’re a SaaS provider for example, it can be a catastrophe.
- The CFO and the Accounting team can be strong allies. Developing a good working relationship with Accounting as an ally in product investments generally and product launch investments specifically is a smart move. The CFO probably signs your paycheck – need I say more.
Include Accounting in the product launch planning process. Their insight and perspective is incredibly valuable.
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