Snapscan CFO ready to focus on the fundamentals


Derick Truscott believes the tech players who stay grounded in the fundamentals will be the winners of 2023.

A new year is always filled with endless opportunities, ready for the first person willing to grab them. However, Snapscan CFO Derick Truscott believes that it will be the players that are able to stay grounded in the fundamentals that will be the winners of 2023, especially in the tech industry.

“Working in the fintech space, 2022 was a sobering experience from the frenzy of cheap capital that has flooded the market in 2020 and 2021,” he explains.

Derick also plans to use the same approach in his personal life. “I want to really focus on the fundamentals that enrich my life and cut out the rest of the noise as much as possible,” he says.

His career goal for the new year is to make sure Snapscan is one of these winners. In an earlier interview with CFO South Africa he explained that the company has spent the better part of almost a year and a half plotting out their next jump, figuring out what their next frontier to conquer will be.

With the emergence of a lot of other players in the market, and the evolution of the fintech space, the Snapscan team has become adept at dealing with constant change, and are ready for what 2023 has in store. “We don’t allow ourselves to get comfortable and just be happy with the status quo. We constantly need to be reinventing ourselves, asking hard questions around why we’re doing things the way we’re doing them.”

Read more: Lessons from a CFO on successfully scaling a start-up

“There is no need to sugarcoat the fact that the economic climate is tough at the moment. However, the best ship captains are not forged from calm seas,” Derick concludes.

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