It was not the first time John Gronen addressed the staffing company’s board — but it was very likely the most consequential. At the time, Gronen was vice president of finance, responsible for assessing acquisitions and analyzing their outcomes. The company operated two businesses: one generating about $30 million in EBITDA, while the other incurred annual losses of roughly $10 million. Gronen proposed a strategy to merge the two operations, consolidating efforts to increase profitability.
Once the board approved the plan, Gronen led efforts to align sales teams and streamline processes. In just a few days, he and the leadership team developed a plan to reduce overlapping costs and improve operational efficiency. The merger cut $10 million in expenses, turning the combined business into a more profitable operation that was ultimately sold to a public company.
This experience shaped Gronen’s career, reinforcing his commitment to taking on complex challenges and thinking beyond traditional finance roles. Looking back, Gronen tells us his involvment with M&A began during his time at Alltel, where he contributed to a number of M&A transactions. Subsequent roles at Technosource and VPay expanded his skills into operations, sales, and human resources, giving him the well-rounded experience necessary for senior leadership.
Now serving as CFO of Yooz, Gronen draws on this experience to focus on scaling the company through automation, AI-driven processes, and product expansion.
“Get up from your desk and talk to your coworkers, because you will learn more from a conversation with them about their issues than you ever will by trading emails. Learn all you can about every role in the company and the challenges of each, as they are all applicable to finance in one way or another.” —John Gronen, CFO, Yooz
Made Possible By
CFOTL: Tell us about what this company does and its offerings today.
Gronen: Yooz is an AP (accounts payable) automation and payments company. AP refers to the process of paying vendors, and it’s an industry that’s ripe for automation. Right now, many companies receive invoices in paper envelopes. They open the envelope, scan the invoice, manually input the data, and attach the invoice to the system. This manual process can take anywhere between eight and twelve minutes per invoice.
Automation shortens this process to just a minute or two. We use artificial intelligence (AI) and machine learning (ML) to auto-code invoices. Invoices can be emailed directly into our system, which then processes them automatically. The AP clerk only needs to verify that the invoice is assigned to the correct department and has the correct GL (general ledger) code, eliminating the need for manual data entry.
One of the most valuable things Yooz offers is time. With automation, employees can focus on more meaningful tasks like vendor analysis, pricing evaluation, or reporting, instead of being bogged down by manual processes. Additionally, Yooz provides advanced fraud prevention tools. Fraud, such as fake vendors or altered bank account details, is a growing concern in accounts payable. Our AI tools help identify suspicious activities, reducing the risk of financial loss.
Another key advantage is traceability. During financial audits, Yooz makes it easy to retrieve invoices and provide documentation to auditors. The system creates a clear record of each invoice’s journey—submission, coding, and approval—ensuring smoother audits with fewer errors.
We also reduce human error by leveraging machine learning. For instance, if you process hundreds of checks manually, mistakes are inevitable. With Yooz, our system generates checks directly from the platform, feeding payments seamlessly into the system and eliminating those manual-entry errors. In short, Yooz empowers companies by simplifying AP processes, enhancing accuracy, and enabling employees to focus on higher-value work.
Yooz | www.getyooz.com | Dallas, TX