Meeting Title: Operations x Finance Date: 2026-03-16 Meeting participants: Rico Rejoso, Megan’s Notetaker, megan
WEBVTT
1 00:01:02.390 ⇒ 00:01:03.750 megan: Hey, Rico!
2 00:01:04.489 ⇒ 00:01:05.499 Rico Rejoso: Hey, Megan.
3 00:01:06.720 ⇒ 00:01:07.920 megan: How are you?
4 00:01:08.380 ⇒ 00:01:10.140 Rico Rejoso: I’m good, how are you? How was your weekend?
5 00:01:11.670 ⇒ 00:01:22.349 megan: Oh, it was good! There’s a lot going on in Austin this weekend. We’ve got South by Southwest, which is just a massive, massive conference, so there’s a lot of…
6 00:01:22.460 ⇒ 00:01:23.980 megan: Things going on.
7 00:01:24.230 ⇒ 00:01:25.360 megan: So…
8 00:01:25.360 ⇒ 00:01:26.730 Rico Rejoso: We’ll be attending some of those?
9 00:01:27.760 ⇒ 00:01:28.470 megan: Sorry.
10 00:01:28.950 ⇒ 00:01:31.140 Rico Rejoso: You’ll be attending some of those conferences?
11 00:01:31.810 ⇒ 00:01:48.699 megan: Yeah, I did, well, most of it’s already happened, so I’m just, you know, today’s kind of just a normal day for me, but yesterday was at, I went to two different events yesterday, and yeah, it’s just kind of… so, I guess since…
12 00:01:48.790 ⇒ 00:01:58.159 megan: last Thursday, have gone to, like, 2 or 3 events a day, which is just a lot, so I’m glad to kind of have a break today and just get caught up.
13 00:01:58.160 ⇒ 00:02:00.520 Rico Rejoso: Two events a day, yeah, that’s a lot.
14 00:02:00.980 ⇒ 00:02:10.650 megan: Yeah, yeah, so… But they’re all good stuff. I saw the new doc. Let me save a…
15 00:02:11.030 ⇒ 00:02:15.780 megan: Save it on our list of links, just so it’s easy.
16 00:02:16.000 ⇒ 00:02:17.330 megan: defined…
17 00:02:18.910 ⇒ 00:02:28.449 megan: And I started looking at it today, too. I don’t think we’re going to be able to do a lot this week, because it looks like there were some things that were going out recently.
18 00:02:29.010 ⇒ 00:02:31.360 megan: Were you aware of that?
19 00:02:32.760 ⇒ 00:02:35.160 Rico Rejoso: Not at all. What was that again?
20 00:02:35.440 ⇒ 00:02:36.900 Rico Rejoso: Overdose, I’m sorry.
21 00:02:37.900 ⇒ 00:02:42.390 megan: It looked like there was a payment to…
22 00:02:43.000 ⇒ 00:02:49.180 megan: Demi… here, I can… I can pull up and look. You’ve got access to the bank account, right?
23 00:02:50.690 ⇒ 00:02:51.420 Rico Rejoso: Yep.
24 00:02:51.970 ⇒ 00:02:56.430 Rico Rejoso: Just… Amex and the city, I guess.
25 00:02:59.430 ⇒ 00:03:02.770 megan: Oh, okay, not the bank bank account.
26 00:03:02.770 ⇒ 00:03:03.980 Rico Rejoso: The Chase one.
27 00:03:04.420 ⇒ 00:03:05.390 megan: Okay.
28 00:03:06.800 ⇒ 00:03:10.250 megan: Let’s see… let me share…
29 00:03:10.440 ⇒ 00:03:20.650 megan: So, because I know that we had talked about, you know, getting more of a process down,
30 00:03:20.900 ⇒ 00:03:27.059 megan: So, I was reviewing the AR, there’s a couple big ones,
31 00:03:27.250 ⇒ 00:03:39.910 megan: That are still outstanding, so… But anyway, just to kind of start, we’ve got… we did have a couple of the smaller payments hit, but then it looks like there’s already been
32 00:03:39.940 ⇒ 00:03:49.609 megan: some payments to Demi and Holly, and Ben’s loss. I don’t know who Tom scheduled those on Friday or something.
33 00:03:49.700 ⇒ 00:03:53.590 megan: Actually, I guess we could go look. Let’s see…
34 00:03:57.230 ⇒ 00:03:59.430 Rico Rejoso: Yes, this was on…
35 00:04:04.310 ⇒ 00:04:06.110 Rico Rejoso: Right, yeah.
36 00:04:10.150 ⇒ 00:04:11.510 megan: So,
37 00:04:13.060 ⇒ 00:04:29.090 megan: Yeah, so I was looking… I sent out reminders to, the, like, email reminders to the way past due ones, and then I sent, other reminders for just anything that’s, like, coming up due today, due tomorrow, that sort of thing.
38 00:04:29.200 ⇒ 00:04:36.799 megan: Anything that was open and hadn’t been sent yet, so I did do that, but yeah, let’s look at…
39 00:04:37.130 ⇒ 00:04:43.419 Rico Rejoso: For Urban Sems, I guess they sent a previous email regarding this, I mean, submitting ramp details.
40 00:04:44.090 ⇒ 00:04:47.979 Rico Rejoso: Right? Were you able to… I mean, have you seen that email?
41 00:04:49.500 ⇒ 00:04:51.329 megan: What was the email?
42 00:04:52.610 ⇒ 00:04:55.390 Rico Rejoso: Let me just… We got it…
43 00:05:04.430 ⇒ 00:05:07.540 Rico Rejoso: Yeah, complete vendor details for Urban Stems.
44 00:05:09.760 ⇒ 00:05:10.620 megan: Oh.
45 00:05:11.120 ⇒ 00:05:14.130 megan: Urban Stems? They’ve been paying us for a while.
46 00:05:14.630 ⇒ 00:05:21.890 Rico Rejoso: Yeah, I’m not sure why, but, I wasn’t… I tried to set it up myself, but I think I don’t have the credentials to do it, though.
47 00:05:22.810 ⇒ 00:05:23.990 megan: Okay.
48 00:05:25.260 ⇒ 00:05:30.230 megan: So, they’ve got a new… Okay, so they’re moving to ramp.
49 00:05:31.730 ⇒ 00:05:33.899 megan: Okay, well…
50 00:05:37.390 ⇒ 00:05:39.190 megan: I’ll make that update now.
51 00:05:42.130 ⇒ 00:05:46.540 megan: That shouldn’t change the ones that they do have in Bill, though.
52 00:06:11.210 ⇒ 00:06:13.049 megan: I’m making a note here.
53 00:06:13.260 ⇒ 00:06:13.760 Rico Rejoso: Good.
54 00:06:13.760 ⇒ 00:06:22.249 megan: I think I might need to edit… Kelly’s recurring invoices, too.
55 00:06:24.150 ⇒ 00:06:25.770 megan: Previous state…
56 00:06:33.340 ⇒ 00:06:36.670 megan: Okay, so it does have the updated one. Okay.
57 00:06:37.160 ⇒ 00:06:44.020 megan: I’d like to double check. So, so yeah, so it looks like these payments…
58 00:06:44.370 ⇒ 00:06:48.330 megan: We’re initiated on Friday, so we’ve got…
59 00:06:49.190 ⇒ 00:06:53.320 megan: About 7,000 in payments that was initiated.
60 00:06:54.020 ⇒ 00:06:56.900 megan: Let’s see…
61 00:07:05.540 ⇒ 00:07:09.730 megan: Well, I guess I can just re-copy them on the same email.
62 00:07:33.560 ⇒ 00:07:34.590 megan: Okay.
63 00:07:35.540 ⇒ 00:07:42.910 megan: Well, that’s part of it. Okay, let’s go back to this doc. So… I guess the…
64 00:07:43.360 ⇒ 00:07:45.790 megan: We’ve already got,
65 00:07:45.970 ⇒ 00:07:54.310 megan: payments kind of made in process. So… and this is, like, this one, it looks like.
66 00:07:54.460 ⇒ 00:07:57.739 megan: So this was everything that was processed last week.
67 00:08:00.150 ⇒ 00:08:01.340 megan: And then…
68 00:08:01.340 ⇒ 00:08:09.400 Rico Rejoso: change the paid already, I guess, some of this, but I’ll make changes. I just got into this. Eliza’s out, so she’s managing this, so…
69 00:08:09.500 ⇒ 00:08:11.300 Rico Rejoso: Probably have the updated as well.
70 00:08:11.460 ⇒ 00:08:13.639 Rico Rejoso: I know we sent one for Jimmy.
71 00:08:13.940 ⇒ 00:08:19.650 Rico Rejoso: Last week, that’s… and we still have one. We just leave 15%.
72 00:08:21.440 ⇒ 00:08:24.379 megan: Yeah, it was these Bend Law ones, so it was the…
73 00:08:24.780 ⇒ 00:08:39.610 megan: Holly that you already updated, and then this one… For… Demi… So, yeah.
74 00:08:39.970 ⇒ 00:08:52.120 megan: So, yeah, and then the two bend laws. Did you have the bend laws on here? If, if Eliza’s out, and I know this is a new process, we don’t have to spend that long on it.
75 00:08:52.590 ⇒ 00:08:58.600 megan: But… Yeah, what would be helpful? Should we go ahead and look at
76 00:08:58.760 ⇒ 00:09:02.839 megan: Some of this for this week, then?
77 00:09:03.210 ⇒ 00:09:11.669 Rico Rejoso: I guess we just need to look at the… how much are we, let’s say the safe amount pay, safe amount to pay out for this week, so we can.
78 00:09:11.670 ⇒ 00:09:12.190 megan: Yeah.
79 00:09:12.280 ⇒ 00:09:13.010 Rico Rejoso: You don’t know.
80 00:09:14.260 ⇒ 00:09:19.090 megan: Yep, I don’t think there’s gonna be a lot, just to keep the reserves.
81 00:09:19.410 ⇒ 00:09:20.130 megan: Oops.
82 00:09:21.760 ⇒ 00:09:29.790 megan: I’m just gonna copy this in. So, technically, we have 11,000 settled, but let me get these all on the same screen.
83 00:09:30.220 ⇒ 00:09:36.929 megan: But then we’ve got an incoming… 41, 50… oops.
84 00:09:39.640 ⇒ 00:09:42.520 megan: And then, got an outgoing…
85 00:09:46.760 ⇒ 00:09:50.369 megan: It looked like there was a OpenAI…
86 00:09:51.230 ⇒ 00:09:54.350 megan: Outgoing… hold on, let me… I don’t wanna…
87 00:09:58.750 ⇒ 00:10:05.030 megan: So, basically, this should tie out to our… Available balance, which it does.
88 00:10:05.270 ⇒ 00:10:08.890 megan: But look at this, this OpenAI
89 00:10:09.090 ⇒ 00:10:15.030 megan: There’s a charge of $636. I guess that’s coming from the bank account now, and not the…
90 00:10:15.340 ⇒ 00:10:19.270 megan: credit card, so I just wanted to mention that.
91 00:10:21.270 ⇒ 00:10:28.530 Rico Rejoso: I’m not sure about that, but I guess we’ve done made changes on the… payment for GPT, or OpenAI.
92 00:10:28.990 ⇒ 00:10:29.840 megan: Yeah.
93 00:10:30.420 ⇒ 00:10:31.370 megan: Yeah.
94 00:10:32.750 ⇒ 00:10:50.619 megan: Well, yeah, that’s probably what’s going on with it. And then this, we need to copy this one down. So, so yeah, so this ties to… there’s 8,000 that’s settled. I can plug in the… let me go back to the AR report…
95 00:10:58.340 ⇒ 00:11:00.300 megan: They are summary…
96 00:11:03.430 ⇒ 00:11:08.279 megan: So… Yeah, so I followed up on all of these today.
97 00:11:15.930 ⇒ 00:11:17.610 megan: Aged JR…
98 00:11:26.080 ⇒ 00:11:27.960 megan: And then current AR…
99 00:11:30.510 ⇒ 00:11:39.970 megan: So basically, we’ve got 8,000. We did just run payroll, so, I’ll just make a note here.
100 00:11:48.140 ⇒ 00:11:53.810 megan: But then, if I look at, kind of, like, the recurring schedule, the 24th, so, like.
101 00:11:54.270 ⇒ 00:12:02.069 megan: I don’t think we’re gonna have any, requirements, so obviously, like, I mean, just to be…
102 00:12:02.210 ⇒ 00:12:06.379 megan: Conservative, because we don’t know, like, what’s gonna come in in the next…
103 00:12:06.550 ⇒ 00:12:09.470 megan: week, you know, technically we…
104 00:12:09.850 ⇒ 00:12:18.140 megan: Once we factor in all the reserves, we don’t have any funds available to process. If we’re gonna follow the process that we,
105 00:12:18.440 ⇒ 00:12:24.779 megan: Talked about implementing. So, that would be my recommendation, is just to hold on anything this week.
106 00:12:25.030 ⇒ 00:12:27.240 megan: Because it does look like we had…
107 00:12:27.590 ⇒ 00:12:37.940 megan: you know, these four that were already made, so that kind of counts to what we would have been able to do today, so I think just to be conservative, we need to not make any more.
108 00:12:38.250 ⇒ 00:12:39.360 Rico Rejoso: Payments for the sink.
109 00:12:40.190 ⇒ 00:12:41.740 megan: Yeah, yeah.
110 00:12:43.140 ⇒ 00:12:53.330 megan: And then hopefully we can get in some of these. I mean, we’ve got $50K, that’s past due. Two of it’s in those big amounts,
111 00:12:53.440 ⇒ 00:12:57.340 megan: for Rhymo and ABC,
112 00:12:57.550 ⇒ 00:13:12.679 megan: everything else is pretty current, but until we get some of these bigger dollars, then I don’t think… Because if that… if, you know, some of this is current now, you know, some of these are going to be due today or tomorrow, so this is going to start to move over.
113 00:13:12.780 ⇒ 00:13:14.100 megan: Pretty soon.
114 00:13:14.310 ⇒ 00:13:20.170 megan: But… That would be my suggestion for this week, just to pause.
115 00:13:21.330 ⇒ 00:13:21.870 Rico Rejoso: Alright.
116 00:13:22.070 ⇒ 00:13:25.180 Rico Rejoso: So, we’re currently at the negative for this week, so…
117 00:13:25.860 ⇒ 00:13:28.469 Rico Rejoso: No movements unless ABC or remote.
118 00:13:28.690 ⇒ 00:13:31.629 Rico Rejoso: Hasn’t been deposited into our account. I’ll let UTM know.
119 00:13:31.760 ⇒ 00:13:32.390 Rico Rejoso: That’s cool.
120 00:13:32.390 ⇒ 00:13:41.779 megan: Yeah, we’re… we’re technically, we’re only… I mean, we’ve got all this as kind of like the reserve, like, this is basically, like, the…
121 00:13:41.780 ⇒ 00:13:55.720 megan: absolute floor that we would have, so we just don’t have any additional funds available unless we want to, you know, potentially jeopardize making those required credit card payments or not being able to meet next payroll, so…
122 00:13:55.720 ⇒ 00:14:02.590 Rico Rejoso: Yeah, I suggest we keep that, yeah. Let’s keep that, and let’s just wait. Let’s just hold off any payment for this week, unless the, pending…
123 00:14:03.000 ⇒ 00:14:05.960 Rico Rejoso: ERs have been deposited into our account.
124 00:14:06.510 ⇒ 00:14:08.359 Rico Rejoso: I think I would suggest to do them, yeah.
125 00:14:09.220 ⇒ 00:14:21.030 megan: Yep, and you can let Utam know on the meeting tomorrow that we’ve done AR follow-up as well, so hopefully we can make some progress on, the past due amounts, but yeah.
126 00:14:21.910 ⇒ 00:14:31.090 megan: And then we’ve got… so I guess, like, the total receivables we have coming in, you know, of… let’s see what’s unscheduled, we’ve got…
127 00:14:31.220 ⇒ 00:14:37.210 megan: About $50,000, that’s unscheduled in payments, and then…
128 00:14:37.510 ⇒ 00:14:43.399 megan: These, these are all the mostly current payments, so…
129 00:14:43.590 ⇒ 00:14:48.400 megan: It’s… it’s still pretty tight, if I just look at, like.
130 00:14:49.740 ⇒ 00:14:55.320 megan: You know, if I just add in here, these totals…
131 00:14:59.460 ⇒ 00:15:04.619 megan: Then, you know, even kind of after we factor in all of the
132 00:15:06.400 ⇒ 00:15:13.659 megan: Outgoing payments, like, we’re still… we just still haven’t… Turns that corner, you know?
133 00:15:14.130 ⇒ 00:15:15.450 Rico Rejoso: Yeah, so…
134 00:15:16.570 ⇒ 00:15:26.119 megan: So, that would pretty much say, like, with the current outstanding AR… let me just double check these numbers…
135 00:15:32.180 ⇒ 00:15:34.549 megan: Oh, shoot, I messed up this.
136 00:15:44.900 ⇒ 00:15:49.460 megan: So, I’m looking at, like…
137 00:15:49.730 ⇒ 00:15:54.439 megan: Yeah, that 156 in money that’s owed to us.
138 00:15:54.760 ⇒ 00:15:58.009 megan: We’re… we’re still pretty…
139 00:15:58.500 ⇒ 00:16:08.529 megan: pretty tight, like, I keep seeing, you know, we’ve got new team members, now we’re paying for, like, some health insurance, like, all that stuff is gonna make it really hard to, get caught up.
140 00:16:08.870 ⇒ 00:16:24.390 megan: So, we’re doing the best we can, but we’re gonna continue being about a month behind until we can really, like, cut… meaningfully cut costs and not continue to add to, you know, this amount of total outstanding, so…
141 00:16:25.020 ⇒ 00:16:25.600 Rico Rejoso: Okay.
142 00:16:26.910 ⇒ 00:16:29.219 megan: But that’s… that’s where we’re at!
143 00:16:29.710 ⇒ 00:16:40.059 Rico Rejoso: Yeah, I guess, aside from that, I’ll let them know about, what we need to do for this week holdoff, and also the follow-up that was sent for the past due invoice.
144 00:16:40.150 ⇒ 00:16:56.679 Rico Rejoso: invoices we have. Another thing would be, this was not communicated, I guess, to finance before, the delivery team… I mean, before we’ve done this for the delivery team, which is the leadership agreement, wherein there’s a confirmation. I mean, there’s a 5% bonus.
145 00:16:56.830 ⇒ 00:16:59.189 Rico Rejoso: For team members that have signed that agreement.
146 00:16:59.370 ⇒ 00:17:15.349 Rico Rejoso: And I guess that was the, hiccup that we had with Pranav, right? He was asking that he should have, like, $84 an hour as a raise from the, I mean, being a… being part of the leadership team, leadership delivery team, right?
147 00:17:15.880 ⇒ 00:17:22.429 Rico Rejoso: So yeah, I want to clarify that up, because on… I guess there was a miscommunication since
148 00:17:22.670 ⇒ 00:17:29.810 Rico Rejoso: They thought that it was a 5% raise rather than a bonus that the… Company would be…
149 00:17:30.050 ⇒ 00:17:36.810 Rico Rejoso: Giving out to them. So that’s one thing with, we need to clear things up with our team members or delivery team.
150 00:17:37.470 ⇒ 00:17:47.310 megan: Yeah, and what’s it 5% of? Is it 5% of what they were paid for, like, a certain time period, or… and when is the…
151 00:17:47.390 ⇒ 00:17:59.749 megan: payout, I mean, we don’t have, like, any of that, so kind of, like, as we’re looking at, okay, well, there’s all of this, but, like, that’s obviously not included here, so if we start adding to it, then, you know, kind of just…
152 00:18:00.310 ⇒ 00:18:06.789 megan: reinforces my previous point. If we keep adding to it, it’s just going to be harder and take longer to claw out of it, so…
153 00:18:06.790 ⇒ 00:18:07.420 Rico Rejoso: Yeah.
154 00:18:07.910 ⇒ 00:18:08.490 Rico Rejoso: Agreed.
155 00:18:08.490 ⇒ 00:18:15.429 megan: Do you have details on what the 5% bonus, like, how we should be calculating that, or is that something…
156 00:18:15.690 ⇒ 00:18:17.589 megan: Like, what should we do with that?
157 00:18:18.020 ⇒ 00:18:20.700 Rico Rejoso: Initially, the 5% is their,
158 00:18:20.870 ⇒ 00:18:28.649 Rico Rejoso: monthly, let’s say, monthly payments, so I based it off our, on our financial spreadsheet, right?
159 00:18:29.160 ⇒ 00:18:34.090 Rico Rejoso: I’m basing it off on their projected monthly, and… but I think,
160 00:18:34.390 ⇒ 00:18:39.409 Rico Rejoso: the calculation for that. But I guess we had problems when it comes to Greg.
161 00:18:39.750 ⇒ 00:18:46.230 Rico Rejoso: if you, saw Greg’s contract, right? So it’s either the max… it’s either the… what was…
162 00:18:46.230 ⇒ 00:18:49.139 megan: Oh, he has, like, a floor, or a minimum, right?
163 00:18:49.920 ⇒ 00:18:50.610 megan: Yeah.
164 00:18:50.610 ⇒ 00:18:52.720 Rico Rejoso: confusion there. Are we going to…
165 00:18:52.900 ⇒ 00:19:07.770 Rico Rejoso: base it off the minimum, or are we gonna base it off his projected? I guess we… I forwarded that concern to them and Robert, and they said that it should be the 5% of what’s been paid to him for the month of January.
166 00:19:07.880 ⇒ 00:19:18.830 Rico Rejoso: Right? So, is it gonna be, January only, or is it be… is it gonna be the 5% of, the first quarter itself, right? Which I think would be pretty big if we compare it.
167 00:19:18.830 ⇒ 00:19:34.980 megan: Yeah, and maybe it’s… maybe it’s changed since the last I’d heard from Utam about it, but, I thought that they were going to look at the full quarter after the quarter ends, and then make a determination on payout, but it sounds like there was already a 5%
168 00:19:35.080 ⇒ 00:19:42.039 megan: that’s been communicated, so I don’t really know, like, how to do that.
169 00:19:42.040 ⇒ 00:19:50.589 Rico Rejoso: Yeah, that’s the confusion there, because if we’re gonna stick with that for Greg, would it be the same for all team members, right? Because in the contract that I’ve
170 00:19:51.340 ⇒ 00:19:56.779 Rico Rejoso: that I’ve provided with them, it’s just the 5% of their projected monthly.
171 00:19:57.230 ⇒ 00:20:03.790 Rico Rejoso: And I’ve also put in the competition for that under contract, so let me give you a quick view of their contract. Let me share my screen.
172 00:20:04.550 ⇒ 00:20:07.900 megan: Yeah, tell me… Stop sharing.
173 00:20:13.400 ⇒ 00:20:18.279 Rico Rejoso: So, for example, this is for Pranav. This is his contract for the leadership agreement.
174 00:20:18.470 ⇒ 00:20:22.349 Rico Rejoso: And what I put in here is the compensation for a monthly.
175 00:20:22.450 ⇒ 00:20:27.289 Rico Rejoso: That is for the 80 hours contract that he initially had with Brainforge, right?
176 00:20:27.840 ⇒ 00:20:37.309 Rico Rejoso: We have a… we have amended this to 160 hours, or full-time hour contract, so that’s one question that we need to, answer.
177 00:20:37.460 ⇒ 00:20:47.080 Rico Rejoso: For him, if… are we gonna change… are we gonna base it off the 160 hours, or just the 80 hours for January, since this was… this should be implemented by the first month of…
178 00:20:47.310 ⇒ 00:20:58.530 Rico Rejoso: the quarter, right? Which is January, but this took too long for our executives to approve, so are we sticking with this, or changing it to 160 hours? That’s one question I have for you tomorrow.
179 00:21:00.510 ⇒ 00:21:12.270 Rico Rejoso: This one is a computation of their projected monthly, right? So I have the admitted 5% bonus here, stated, which is the 5% of 68.80.
180 00:21:12.440 ⇒ 00:21:13.200 Rico Rejoso: Right?
181 00:21:13.400 ⇒ 00:21:22.380 Rico Rejoso: And, they’re still gonna… if we’re… I mean, if we’re gonna stick with what they said, which is a, total quarterly,
182 00:21:22.540 ⇒ 00:21:30.230 Rico Rejoso: 5% of the quarter, right? So this… that means we have to change it for all team members, or are we just gonna apply it to selected team members?
183 00:21:30.350 ⇒ 00:21:36.160 Rico Rejoso: That’s one thing that we need to confirm with, right? But what do you… on a finance perspective, what do you think?
184 00:21:37.910 ⇒ 00:21:52.729 megan: Yeah, I mean, I think it should be, like, we should always try to be conservative, and pay it, especially if there were adjustments, and I think, doing the initial bonus based on the lower amount makes sense.
185 00:21:52.780 ⇒ 00:22:11.809 megan: And then the others are based on KPI performance, so we have been accruing, a little bit for that, and I hear you that it took, you know, a little, like, longer than it should have to get that approved and rolled out, so I think there’s just going to be some…
186 00:22:12.170 ⇒ 00:22:19.780 megan: growing pains. But so with, like, the actual comp accruals that I have, though,
187 00:22:19.890 ⇒ 00:22:24.279 megan: I’ve only got… er… let’s see…
188 00:22:25.030 ⇒ 00:22:29.480 megan: At least for January and February.
189 00:22:29.630 ⇒ 00:22:38.220 megan: We only had, a 5% renewal for Magic Spoon, and then a 10%
190 00:22:38.580 ⇒ 00:22:48.700 megan: or minute MD, so I actually didn’t have anything specific to Prinav at all accrued. So I’ve only got 800
191 00:22:48.940 ⇒ 00:22:53.470 megan: Estimated comp, and this was kind of just based on the,
192 00:22:54.040 ⇒ 00:23:02.750 megan: best thinking, like, that’s just kind of in general, but I don’t, like, I haven’t seen anything about Pranav, so this is all kind of…
193 00:23:02.920 ⇒ 00:23:10.560 megan: new. But yeah, and I guess, like, and again, like, Utam was going to have,
194 00:23:10.910 ⇒ 00:23:15.300 megan: was, you know, pretty much just saying, like, we’re gonna get through Q1, and then…
195 00:23:15.470 ⇒ 00:23:19.120 megan: decide, and I’m like, okay, well, I kind of need to accrue something.
196 00:23:19.440 ⇒ 00:23:25.800 megan: Just to reflect that we’re gonna pay that out. So I guess I don’t really know what to do with…
197 00:23:25.970 ⇒ 00:23:31.040 megan: Pranav, because I don’t have anything held for him at all, so it’s all going to be an expense hit.
198 00:23:32.180 ⇒ 00:23:35.849 Rico Rejoso: Okay, so one thing we should confirm with our executives are…
199 00:23:36.320 ⇒ 00:23:42.080 Rico Rejoso: We gonna do the 5% for the projected monthly, or the first quarter, right?
200 00:23:42.830 ⇒ 00:23:44.920 Rico Rejoso: Which I suggest would be the monthly.
201 00:23:46.960 ⇒ 00:23:56.210 Rico Rejoso: And I want to make it general for all delivery team members if we’re gonna implement one thing for them, right? This is just a one-time bonus for everyone, so…
202 00:23:56.490 ⇒ 00:24:09.089 Rico Rejoso: This should just be for one quarter, and moving forward, the additional 5% here, stated here, is a KPI performance, which I think our executives also have to evaluate first, and…
203 00:24:09.860 ⇒ 00:24:11.430 Rico Rejoso: Right, so…
204 00:24:11.430 ⇒ 00:24:11.900 megan: Oh my goodness.
205 00:24:11.900 ⇒ 00:24:20.709 Rico Rejoso: I suggest that this, we have to let them decide if we’re gonna do the 5% bonus based off their projected monthly, or their first quarter
206 00:24:20.930 ⇒ 00:24:23.300 Rico Rejoso: Total of their first quarter.
207 00:24:23.650 ⇒ 00:24:27.830 Rico Rejoso: That’s one thing to confirm tomorrow, and another, when should we pay this out?
208 00:24:28.070 ⇒ 00:24:29.480 Rico Rejoso: After first quarter?
209 00:24:29.870 ⇒ 00:24:38.419 megan: Yeah, I think after first quarter, and then it’s due net 30, and we would… we would add it separate from,
210 00:24:39.040 ⇒ 00:24:43.800 megan: The, you know, kind of, like, their regular hours, so, like.
211 00:24:44.020 ⇒ 00:25:00.350 megan: Yeah, I mean, I think… I understand the importance of having an incentive plan like this, but, you know, it’s not… it’s not time that we’re billing back to clients. Like, it’s all OpEx. It’s all expense.
212 00:25:00.590 ⇒ 00:25:02.280 megan: internal, so…
213 00:25:05.590 ⇒ 00:25:06.610 megan: Agreed. Yeah.
214 00:25:07.860 ⇒ 00:25:10.479 Rico Rejoso: I’ll let Utah know about it,
215 00:25:11.010 ⇒ 00:25:17.990 Rico Rejoso: And moving forward with our, any incentives or, you know, agreement that would imply,
216 00:25:18.170 ⇒ 00:25:20.880 Rico Rejoso: Adding additional costs.
217 00:25:21.260 ⇒ 00:25:31.339 Rico Rejoso: to what we currently have, I’ll have to inform you first, because I think there’s a couple that, on the people operations side as well, that Kayla would like to implement, such as…
218 00:25:31.560 ⇒ 00:25:49.250 Rico Rejoso: I don’t know, L&D, learning and development incentives and stuff, right? So, one thing that I wanted everyone to know from the operations side is make sure that we loop in our finance first to consult with them, and if they agree with that, and have… come up with a process of paying that out.
219 00:25:50.240 ⇒ 00:25:51.489 Rico Rejoso: Because I think that’s not been doing.
220 00:25:51.490 ⇒ 00:25:52.050 megan: Yeah.
221 00:25:52.050 ⇒ 00:25:52.430 Rico Rejoso: Also.
222 00:25:52.430 ⇒ 00:25:57.999 megan: I think just because we’ve already had some miscommunication, I think just having it, like.
223 00:25:58.000 ⇒ 00:26:15.790 megan: on a quarterly basis, paid out, you know, 30 days at the end of the quarter. That also helps, like, we’ve also had a decent amount of turnover, too, so if people, you know, aren’t there, then… or if they leave, then they don’t get that payout, you know? It’s not… it’s not assumed.
224 00:26:15.940 ⇒ 00:26:17.719 megan: That they should receive that.
225 00:26:18.110 ⇒ 00:26:20.030 Rico Rejoso: If they leave within the net 30?
226 00:26:20.920 ⇒ 00:26:21.630 Rico Rejoso: Did I get it?
227 00:26:21.630 ⇒ 00:26:39.339 megan: Yeah, yeah, I think so. Like, that’s how, I’ve seen it done at a number of places. I’ve actually worked with a pretty big company at one point, and they had annual payouts, but if you weren’t actively employed on payday, and it was something like
228 00:26:39.400 ⇒ 00:26:48.180 megan: 45 days after the year ended, so if you… then you wouldn’t get your bonus. They… they just wouldn’t pay it out.
229 00:26:48.860 ⇒ 00:26:49.839 Rico Rejoso: I agree, yeah.
230 00:26:50.240 ⇒ 00:26:51.230 megan: So…
231 00:26:51.880 ⇒ 00:27:00.829 megan: Okay. It just helps, especially with, like, small teams and history of turnover, it just helps, kind of manage that.
232 00:27:01.410 ⇒ 00:27:03.049 megan: A little better, but…
233 00:27:04.320 ⇒ 00:27:04.720 Rico Rejoso: Okay.
234 00:27:04.720 ⇒ 00:27:08.460 megan: It’s always negotiable, but just some ideas.
235 00:27:08.700 ⇒ 00:27:11.619 Rico Rejoso: Yeah, I mean, it’s a good thing that we let them know as well.
236 00:27:11.690 ⇒ 00:27:29.360 Rico Rejoso: as… I mean, every policy that we have right now, we’re… I wanted to make sure that we have a team-facing doc that let them know, how this is done, when they get paid, and everything, or what’s the consequences for this or medications for this policy and stuff. So I want to make sure that everyone’s also aware about the, you know.
237 00:27:29.570 ⇒ 00:27:33.970 Rico Rejoso: The behind the scenes of the policy or incentives program that we have.
238 00:27:34.380 ⇒ 00:27:40.569 Rico Rejoso: So yeah, that’s just a couple of things that I wanna, you know, let you guys know, that’s why I set up this meeting, and probably I’ll be…
239 00:27:40.670 ⇒ 00:27:45.910 Rico Rejoso: putting a hold… I mean, a placeholder every week, Monday, same time.
240 00:27:45.910 ⇒ 00:27:46.430 megan: Perfect.
241 00:27:46.430 ⇒ 00:27:54.650 Rico Rejoso: have any finance questions, right? So I can, you know, directly let you know about this one, and we can discuss over any suggested plans.
242 00:27:54.800 ⇒ 00:27:58.789 Rico Rejoso: For our executives for these situations, if that’s fine.
243 00:27:59.330 ⇒ 00:28:03.299 megan: Yep, yep, yeah, I agree. It’s good to have, just the recurring time.
244 00:28:03.850 ⇒ 00:28:07.980 megan: Gotcha. Especially since we’ve got so many new processes, so…
245 00:28:07.980 ⇒ 00:28:14.990 Rico Rejoso: Yeah, sorry, we just want to make sure that, you know, we create a standard process for everything here, and…
246 00:28:15.590 ⇒ 00:28:19.069 Rico Rejoso: Oh, I’m all for it.
247 00:28:19.070 ⇒ 00:28:30.620 megan: Yeah, I’m all for it, just, you know, keeping everybody on the same page, setting expectations, and then continuing to track to that. So, yeah, thank you for, making that a priority. I really appreciate it.
248 00:28:31.100 ⇒ 00:28:38.880 Rico Rejoso: Definitely. Yeah, I think that’s all for now, with everything that we have. I guess I have all the answers that I need.
249 00:28:39.000 ⇒ 00:28:47.650 Rico Rejoso: To let our executives know by tomorrow, what our plan is for this week, and what we have right now for finance, right? Thank you so much for that. Yeah.
250 00:28:47.940 ⇒ 00:28:48.610 Rico Rejoso: Anything else?
251 00:28:48.610 ⇒ 00:28:48.960 megan: Yeah.
252 00:28:48.960 ⇒ 00:28:51.030 Rico Rejoso: let you know and message you through Slack, okay?
253 00:28:51.660 ⇒ 00:29:11.620 megan: That sounds good, yeah, I think just, maybe kind of, politely reaffirming to, Utam, you know, like, you process payments, it looks like, a couple days ago, that we are trying to get into this, you know, weekly process, so let’s all try to stick to that.
254 00:29:11.620 ⇒ 00:29:15.710 megan: Just to keep everybody on the same page, so…
255 00:29:16.000 ⇒ 00:29:17.100 Rico Rejoso: Definitely, yeah.
256 00:29:17.420 ⇒ 00:29:22.120 Rico Rejoso: I’ll let them know about what we discussed today, and make sure that we’re in line and everything.
257 00:29:22.700 ⇒ 00:29:23.290 megan: Okay.
258 00:29:24.060 ⇒ 00:29:25.940 Rico Rejoso: Alright, thank you for your time, Megan.
259 00:29:26.340 ⇒ 00:29:28.549 megan: Thank you! Have a good one, bye.