Financial Chief Officer of Conga, Simon Edwards, Encourages Other CFOs: Focus on Team's Development and Advancement
Simon Edwards serves as the CFO at Conga, a thriving, privately-owned software company that has been bolstered by private equity investment. Conga is renowned for its creation of the Revenue Lifecycle Management category. The company's Advantage Platform tackles intricate complexities related to order configuration, execution, fulfillment, and contract renewal processes. This is achieved by employing a crucial data model that adapts to evolving business requirements and synchronizes the efforts of various teams. This approach is rooted in the Conga Way, a philosophy that encompasses entrepreneurial spirit and collaborative success, benefitting over 11,000+ customers worldwide with operations spanning North America, Europe, and Asia.
Recently, I had the opportunity to engage with Simon about his experience as the first in his family to complete high school, the significant role of a CFO in contemporary businesses, the harmonious bond between engineering and finance, the pivotal relationship between the CEO and the CFO, and words of wisdom for upcoming generations, among other topics.
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Although residing in the San Francisco Bay area, Simon's upbringing was far removed from the city's urbanity. Growing up in a small Welsh farming town, his outlook was serene, observing cows instead of skyscrapers or the Golden Gate Bridge. His childhood was filled with frolicking in the fields, and he acknowledges that his current life exceeds the wildest expectations of his younger self.
Having attended the University of West England, Simon obtained a Bachelor’s degree in Computing for Real-Time Systems. Afterward, he enrolled in the Wharton School of the University of Pennsylvania to secure his MBA. Despite his current role as a CFO, his educational background steered him toward software engineering.
“My undergraduate education was extremely technical,” Edwards elaborates. “Upon completing that program, I joined GE to work in their aerospace division, focusing on avionics equipment. I was thrilled at the prospect that the software I was contributing to could potentially aid in keeping planes aloft. GE granted me numerous opportunities to advance and transition into a finance and business focus.”
Edwards' engineering background facilitated his entry into the CFO realm, enabling him to utilize his analytical mindset and problem-solving skills effectively. His unconventional career path has provided him with anecdotes he frequently shares with others.
“The first piece of advice I give is to pursue your passion,” he said. “Always opt for positions that stimulate your interest, where you believe you can learn, grow, and provide value. Your ability to connect financial data to the company's operations is critical. That’s what truly sets a CFO apart from their peers and business leaders, enabling them to serve as a robust operational partner.”
For a decade, Edwards thrived at GE, being inspired by the caliber of business leaders with whom he interacted. As he grew more aware of their career paths, he recognized that many shared engineering backgrounds like his although they were proficient in financial language – the 'language' of GE. This spurred him to consider how he might replicate this success in his own career.
He was subsequently selected for GE's highly recognized Corporate Audit Staff. Recruiting individuals from varied business, geographic, and functional backgrounds, the program focused on auditing roles that concentrated on business and problem-solving. Participants were rotated through various GE businesses, problem sets, and teams.
This experience was pivotal for Edwards, not only in career development but also in benefit from mentorship opportunities.
“Khozema Shipchandler,” now Twilio's CEO, “was a valuable mentor and friend who encouraged me to champion progress and push myself and my teams to drive improvements,” he said. “Dan Semo, a current executive within Expedia, always stressed that teams constitute the bedrock of our careers and that we should pay it forward. I benefited from terrific mentors, and hopefully, I have similarly become a good mentor and coach to my teams, aiding them in their own careers.”
Following GE, Edwards ascended to the CFO role at ServiceMax before joining Conga. When contemplating a shift to a different company, his criteria are distinct. First, he assesses whether he believes in the product. With Conga, the issues it addresses are akin to problems he faced in his prior roles, which added an element of excitement for him. He also deliberates on scale and perpetually seeks the upcoming issues that will challenge him to progress. Lastly, he prioritizes team and culture. Conga’s CEO, Noel Goggin, is a respected figure whom Edwards admires and enjoys working alongside.
An indispensable aspect of their partnership is discussing the nature of their rapport.
“I believe that a successful meeting occurs when only one of us is present because we complement each other’s abilities or fill capacity gaps,” he said. “I believe we have that. He has an engineering background that has significantly contributed to defining the category that Conga occupies: Revenue Lifecycle Management. I strive to alleviate his tasks to the extent possible, which is well-received.”
Regarding the importance of filling capacity gaps, Conga's primary concern lies in attracting, retaining, and developing skilled personnel. Edwards shares an unwavering belief that culture should take precedence.
"Individuals prefer collaborating within a team and a nurturing environment where they can boost their professional growth," he stated. "Establishing a paradigm where this is a fundamental principle is crucial. Secondly, fostering opportunities for career advancement. Our FP&A squad has individuals transitioning from our accounting division. We're consistently brainstorming ways to move people across roles and expose them to various challenges. The third essential aspect is acquiring talented individuals. Attracting top talent helps us meet our team's commitments and serve as our most powerful advocates when we're seeking new hires."
The company's guiding philosophy, known as The Conga Way, represents its values and shapes its culture and work ethos. Beyond being a mere list, it guides the company's hiring process, innovations, and drives its success.
"It's about fostering an entrepreneurial spirit, achieving collective success, and advocating for the customer," Edwards explained. "These principles underpin our decision-making. We conduct a comprehensive talent assessment across the company twice a year, evaluating all employees and ensuring we're fulfilling our expectations, both the 'what' and the 'how.' Real talent decisions are made based on the 'how.'"
In terms of his personal values, Edwards has his own adaptation of The Conga Way. Recognizing the demanding nature of the CFO role, he also values excelling in his responsibilities as a husband and father. One of his early mentors helped him strike a balance between his professional and personal life.
"I had an outstanding mentor who taught me that I could excel in five areas of my life," Edwards shared. "My occupation was one. Being an exceptional spouse was the second, followed by being an outstanding father. Lastly, making trade-offs was essential. Overextending yourself can sometimes result in mediocrity in all areas. I'm very focused on spending my time on the things that matter most to me. I'm fully committed to prioritizing these areas and giving them my all. Right now, being an outstanding father is my top priority."
On the subject of nurturing future generations in finance, Edwards offers advice for the rising wave of young professionals.
"My advice is to focus on your strengths, avoiding the temptation to overemphasize your weaknesses or opportunities. Spend time with your team is my most rewarding piece of advice in my career. It's often neglected as you pursue your career accomplishments, but as I speak to more people, they look back on developing the next generation of leaders as their most proud accomplishment."
After joining Conga, Simon Edwards valued the collaborative spirit between the CEO, Noel Goggin, and the CFO, recognizing their complementary abilities and capacity gaps. He emphasized the importance of filling these gaps, leading to a successful partnership.
As part of Conga's strategy, Edwards prioritized team and culture, believing that individuals thrive in a collaborative environment where they can grow professionally. To foster this culture, the company emphasizes attracting top talent, encouraging career advancement, and facilitating moves between roles, exposing employees to diverse challenges.
