799: When Metrics Do the Talking | Adam Ante, CFO, Paycor

When Adam Ante first arrived at Paycor in 2017, the seasoned finance executive was tasked with prodding Paycor management to begin monitoring daily performance metrics.

“At first, it was about building the relationship with the executive team so that they understood how important it was to understand how the company was performing on a daily basis,” explains Ante, who equates his task with shortening the distance between management and the company’s data.

“At the time, we were just piling a set of numbers and metrics into Excel spreadsheets daily and distributing them,” continues Ante, who upon his arrival was given the title of vice president of analytics.

“We didn’t know where all of the data was, and we didn’t know always what it meant,” reports Ante, who notes that sometimes one manager might be sharing certain data that contradicted numbers being disseminated by another.

For Paycor, the solution was to adopt a new data management framework, a process that began with first clarifying what the company wanted to know about its performance and then identifying which metrics would best reveal this information.

According to Ante, “You begin by asking, ‘What should this metric really show?’ And then you say, ‘Okay, now, where does this data come from? How do we access this data?’’”

Back in 2017, Ante recalls, most of Paycor’s data resided within a single SQL server.

“At every turn, this meant that somebody had to go in and figure out how to write SQL queries and pull the needed data together,” remembers Ante, who adds that the company subsequently upgraded its data infrastructure.

“The most important thing is the ability to bring the data together into a place where people can access it and measure it and put the right level of governance around it,” comments Ante, who observes that as more managers have gained confidence in the data and grown to better understand the information being provided, they’ve also grown accustomed to monitoring the metrics daily.

Says Ante: “It can take a long time—it’s a cultural shift.” –Jack Sweeney