Office of the CFO: Shana Veale on Adjusting to a New Industry as CFO

The NetSuite Podcast

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Host Megan O’Brien, NetSuite’s business and finance editor, is joined by the CFO and VP of PharmChem, Shana Veale. Shana kicks things off by explaining her choice of accounting as a major (2:41) and why she ended up getting her master’s in accounting, too (4:21). She then dives into her career start as an external auditor and the lessons she took away from public accounting (7:30). Next, we delve into her controller roles, beginning with her position with the National Cutting Horse Association (10:30). Shana also explains her experience with the program Leadership Fort Worth, a class designed to enhance leadership skills and her takeaways from the program (19:05). We jump into how she came upon her role at PharmChem (23:19) and her experience in switching industries, including how her “auditor’s mentality” assisted in that shift (29:32). Shana talks about her transition to CFO and how her reporting of KPIs helped her build a relationship with the board (34:40). Shana covers the technology journey of PharmChem to date, including their switch from Quickbooks to NetSuite (38:11). We then dive deeper into how she makes the time to take a more analytical look at the company (46:45) and the metrics she tracks on a daily basis (48:30). Shana discusses the challenges faced by the company at the start of the COVID-19 pandemic, including the influx in demand faced by PharmChem when the federal government temporarily banned urine drug tests (51:38) and future priorities and plans for PharmChem (57:08). Lastly, she covers her advice for aspiring CFOs (59:27). Tune in for all of this and more!

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Shana Veale: https://www.linkedin.com/in/shana-veale-cpa-822b2aa/

PharmChem: https://www.pharmchek.com/

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