Why you need the CFO Services ?

One of the top issues keeping your business from growing is the way you would like to get the numbers together to tell you where your biggest risks and opportunities are going forward.

You are debating whether it is time to hire a chief financial officer with experience in your industry who can start providing you and your board of directors with the kind of valuable information to feed the next growth cycle.

But an experienced CFO won’t come cheap, and that’s a big financial commitment for a small and growing company.

So, what if you knew there is an alternative that can bring to the table a team of finance experts with experience in your industry with much less cost of hiring a full time CFO?

In contracting with specialized consultancy, you will gain all the expertise you need and avoid the search and training time needed to bring on that one perfect CFO for your business and save your money to invest in expanding your business and increase your profit and wealth.

But, before calling, we would like to take a few minutes to evaluate the issues you feel are holding your company back.

To ensure your needs, please check where you are struggling? 

Generally, the frustrations fall into 5 broad categories.

Category 1:  Reporting:

You feel like you are constantly making decisions in the dark because you lack a true financial picture.

Your bookkeeping staff is doing good job in recording your accounting transactions, and keeping up with tax and compliance issues, but you are not getting the kinds of reports and numbers you need or in the best case, you are getting incomplete information to track your operations and to push your business to the next level and the level after that. 

Wherever your company falls in this spectrum, you cannot be expected to make the best decisions for your business.

Category 2:  Accountability:

You feel like you don’t have adequate financial information security, and responsibilities matrix, and you feel you have a challenge to create a system of checks and balances to ensure that tasks are accurately completed in a timely, lawful manner and, that no one person has much control, opening your company to risk of fraud.

Wherever your company falls in this spectrum, you cannot be expected to design and create the ultimate performance of the accounting process, systems and controls.

Category 3:  Management:

You feel like you are a little intimidated by what yours bookkeeping and financial staff are doing all day. You feel your business will not survive and thrive if invoices are not sent on time, payments are not received and processed on time, bills are not paid on time. You feel cautious about tax and regulations compliance. You feel you need someone to guide your team, so they are continuously arming you with financial and reporting insights required to fuel your decisions.     

Wherever your company falls in this spectrum, you cannot be expected to have access to information en route to hitting your growth and performance objectives.

Category 4:  Strategy:

You feel like you are not getting accurate and timely information along with practical interpretation and guidance on how best to leverage it. You feel you have lack in driving strategy formulation and evolution. You feel you cannot know where you have been and how you got where you are now, also how you will get to where you want to be. You feel your financials are not telling you what has succeeded, what has failed on a segmental basis.       

Wherever your company falls in this spectrum, you cannot be expected to use the information to develop and refine your strategy.

Category 5:  Raising Capital:

You feel like your company has incomplete information that banks or investors will not be going to get on board. You feel your company is not presenting a complete, substantive financial picture. You feel you have not completed an accurate financial history and projections coupled with credible financial story.   

Wherever your company falls in this spectrum, you cannot be expected to secure capital your business needs to grow.

If you see your company with any or all these issues, you know it is time to take action to get financial house in order.

We encourage you to Jump into our next blog: Life with a CFO service