In a rapidly evolving business landscape, Paul Rouse, the CFO and treasurer of Thryv Holdings, Inc., shares insights into the transformational journey of his company and the role of finance leadership. Over his decade-long tenure at Thryv, Rouse has witnessed significant changes in the industry, from manual ledgers to leveraging artificial intelligence (AI) for operational efficiency. He highlights the importance of adaptability and strategic innovation in navigating through challenging transitions, including moving from traditional Yellow Pages marketing to becoming a leading software platform for small businesses. This shift has brought about substantial growth, with the company's software division experiencing a 30% increase last quarter. Rouse emphasizes the critical need for clear communication with stakeholders and maintaining morale during periods of change.

The Journey of Transformation at Thryv Holdings

In the heart of the bustling corporate world, Thryv Holdings stands as a testament to resilience and innovation. Located in Dallas, this Nasdaq-listed company provides an essential software platform that empowers small businesses to expand their customer base, streamline operations, accelerate payments, and gather valuable reviews. Under the leadership of Paul Rouse, who has served as CFO for over a decade, Thryv has undergone significant transformations.

Rouse reflects on two pivotal moments in the company’s history. The first was when he joined Thryv, facing the monumental task of restructuring the organization and establishing a robust capital structure. This period marked the beginning of a new era for the company, setting the stage for its evolution. More recently, Thryv has been transitioning from its origins as a Yellow Pages marketing business to a cutting-edge software provider. This transition required careful management of declining legacy operations to fund the growing software segment, which saw impressive growth in the last quarter.

A key factor in this success has been the strategic use of AI. Thryv leverages advanced tools like AuditBoard to automate internal audit processes, enhancing efficiency and accuracy. These technologies have not only streamlined operations but also provided valuable insights into business performance. Rouse underscores the importance of embracing technological advancements, noting that those who fail to do so risk falling behind.

Lessons from the Trenches: Insights from a Seasoned CFO

As someone deeply involved in the day-to-day operations of Thryv, Rouse offers valuable perspectives on what it takes to succeed as a CFO, especially in a smaller firm. Unlike larger corporations where roles are more specialized, Rouse’s position demands versatility and hands-on involvement. He recently traveled to Phoenix, Arizona, to oversee the integration of a newly acquired software company, highlighting the need for direct engagement and problem-solving.

Rouse also stresses the importance of maintaining open lines of communication with shareholders. In times of rapid change, transparency and consistent updates are crucial to keeping stakeholders informed and aligned with the company’s vision. His advice to aspiring CFOs is to be prepared for both the challenges and rewards of the role. Leadership, strategic thinking, and the ability to inspire and motivate teams are far more important than just crunching numbers.

Ultimately, Rouse’s experience at Thryv illustrates the significance of adaptability, innovation, and strong leadership in guiding a company through transformative periods. As Thryv continues its journey toward becoming a fully-fledged software powerhouse, Rouse remains committed to ensuring the company’s success while supporting its employees and stakeholders through every step of the way.