CFO Corner: Asha Bakshani, Ltd.
Lightspeed CFO Asha Bakshani on IPO discipline, capital allocation, AI-powered finance, and what it takes to lead modern SaaS companies.
Asha Bakshani has spent her tenure at Lightspeed Commerce at the intersection of capital markets discipline and high-growth execution. Since becoming CFO in April 2022 – and having previously served as executive vice-president of finance – he has helped steer the Montreal-based company through a period defined by public-market scrutiny, operational tightening and an expanding global footprint.
spoke to Bakshani global finance About one of the defining moments of his career: guiding Lightspeed through its 2019 IPO on the Toronto Stock Exchange. She also explains what it really takes to take a company public, from financial rigor and governance to shaping a story that investors believe.
Global Finance: What are your main achievements in the field of finance at Lightspeed?
Asha Bakshani:A defining milestone in my tenure was leading Lightspeed through its 2019 IPO on the TSX. It was an important moment for the company and a pivotal point in my career. Taking a company public requires rigor across every dimension: financial readiness, governance, controls, and a clear, credible narrative for investors. The level of precision and cross-functional alignment required to meet public-market expectations was of paramount importance when articulating a long-term growth strategy.
Beyond the transaction, IPOs fundamentally advanced the way we work. It strengthened accountability, increased discipline throughout the organization, and prepared Lightspeed for its next phase of global growth. Personally, it sharpened my leadership in high-risk environments and deepened my understanding of capital markets.
GF: What aspects of the CFO role take up the most of your time?
Bakshani: I focus on three areas where I believe finance creates the most enterprise value. Strategy and capital allocation are my top priorities. I partner closely with the CEO and leadership team to determine where we invest in products, markets and M&A while rigorously evaluating ROI and charting our path to sustainable growth and profitability.
The investor relations and market story comes next. I ensure we present a clear, consistent and credible story to the market through earnings guidance and ongoing investor engagement, balancing expectations with performance and building long-term confidence. Working business partnerships are also important; I work closely with product, sales, and operational area leaders to make disciplined decisions, constantly pressure-testing where we invest, how we scale, and what risks or opportunities we might overlook.
GF: How important is it to you to have a good team, and what defines a good team to you?
Bakshani: A high performing finance organization is essential. This enables me to remain focused on strategy, capital allocation and the external narrative.
A strong team is defined by three things: depth of expertise across core functions (FP&A, controllership, tax, treasury, data and corporate development); Clear accountability and succession planning to ensure continuity and scalability; and operational efficiency through systems and automation, reducing manual work and increasing insights. My role is to ensure that the right leaders, structure and tools are in place, so that the finance function operates with accuracy and consistency.
GF: How do you see AI impacting your work?
Bakshani: AI is fundamentally changing the way finance operates, and I see this as a significant [enabler] For our team. First, it automates routine, time-intensive tasks like data collection, reconciliation, and basic analysis. This allows our teams to focus on higher-value activities like interpreting data, identifying insights, and making better decisions.
Second, AI accelerates the way we process and synthesize information. This enables faster pattern recognition and more timely insights, which is critical in a fast-moving and competitive environment. Ultimately, AI is improving efficiency across the broader organization, from customer support to product development. This results in faster execution, lower costs and more innovative results, all of which contribute to stronger long-term profitability.
GF: What advice do you have for aspiring CFOs?
Bakshani:There are many important capabilities, but some cannot be compromised. Build a strong financial foundation, which means developing deep expertise in accounting, FP&A, treasury, tax and controls; Understanding how financial data connects to operations, strategy and risk; And be adept at using data to tell a clear story.
Expand into strategy and business partnerships, which requires going beyond the numbers. Learn how each function operates and consistently translate financial insights into actionable business decisions and trade-offs.
You have to lead with influence and credibility. Communicate clearly across all your audiences, from the board to investors and employees. Build trust through transparency, consistency, and sound decisions.
It is important to invest in people and team development. Recruit and develop talent that combines technical strength with cross-functional collaboration. A strong team enables you to work at a strategic level.
