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Smart water cooler company Bevi has grown to the point where it needs an in-house CFO. Wajeeha Ahmed, formerly CFO at Hungryroot and Barstool Sports, recently took on that role. She spoke with CFO Brew about what it’s like to be an emerging company’s first-ever CFO.
This interview has been edited for length and clarity.
What’s it like being a company’s first-ever CFO?
As a CFO, I think about, okay, are the books getting closed on time? What are the processes there? How are we thinking about forecasting?...I would say those are just nuts and bolts. But other than that, what I think about is making sure that finance is positioned as a true partner to the business at all levels in the company….whether it’s an analyst or director on my team, that they are partnering with their stakeholders to make sure that we are there, helping people think through their decisions.
What are your goals for yourself and Bevi in your first year as CFO?
We’ve had such tremendous success, and the company is at this juncture where it’s onward and upward…There have been product enhancements. There are new flavors that are coming out. We’re entering new markets, entering new verticals. It’s a really exciting time. I want to make sure that I’m supporting and driving that strategic vision to take Bevi to the next level. But I also want to ensure that we have the right financial and operational foundation. Whether Bevi does 3x or 5x or 10x over the next few years, I want to make sure that the company has that infrastructure to do it seamlessly.
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Has the move away from the office been a concern for Bevi?
The cool thing about Bevi is that it’s a beverage machine, but it’s also a data machine. Bevi produces really nice insights into what we are seeing in terms of return-to-office trends. For example, Tuesday is the busiest day, but now Mondays are picking up. We’re able to see what people are consuming, what flavors are working, how people are mixing their drinks, etc.
If anything, the trend [toward remote work] is changing. But then beyond that, we are also entering other verticals. We are entering the hospitality space, the education space. We are in airport lounges. We started in offices, and that’s where our penetration is the largest at the moment, but our ambitions are much bigger.
What’s something that you’re passionate about outside of work?
I love sports. I grew up playing sports…I’ve always been a big proponent of physical activity. Both my children are athletes. I sit on the board of a nonprofit girls’ soccer club. I’m the treasurer.
If you weren’t a CFO, what would you be?
I would like to be a florist. I have no training, but I love flowers, and they give me so much joy.