Your Own CFO
Any business, no matter what size, can benefit from the same kind of CFO services that Fortune 500 businesses utilize, they just don’t need those services all the time. That’s where we come in. Our CFOs are available to you daily, weekly, monthly, or just whenever you need them. You pay only for the expertise you need, when you need it.
Hiring a CFO is a big step for any business. It can get very expensive, especially for businesses that don’t necessarily need a full-time CFO. That’s why we’re here, whether you need your own CFO once a week, once a month, or just every now and then. With Your Own CFO from Fully Accountable, you get the experience and expertise you need without the cost or commitment of hiring an in-house staff.
Any business, no matter what size, can benefit from the same kind of CFO services that Fortune 500 businesses utilize, they just don’t need those services all the time. That’s where we come in. We can work with you on-site, or remotely – either way you get the expertise you need, when you need it.
A lot of our clients are entrepreneurs and business owners who started small and then experienced tremendous growth. Somewhere along the way they realized, “Hey, I don’t really know what’s going on with our finances anymore,” and that’s ok! They’re doing what they do best, which is growing their business.
That’s when they call us, and we come in and do all the work to get things on track and make sure the business owner knows where they’re at and where they’re going. We take that worry and that burden off of the business owner so they can focus on running their business.
One question we hear from clients over and over again is, “Will you actually solve my problems, or will you just point out what they are and give us suggestions on how to fix them?” At Fully Accountable, we’ll never just throw numbers and reports at you. We go the extra mile and actually help you solve your problems.
When Do You Need Your Own CFO?
- When you think your business should be more profitable.
- When you need help with strategic planning.
- When you need an expert sounding board for reviewing ideas.
- When you need meaningful financial analysis.
- When you spend too much time managing your finances.
- When your existing financial systems don’t produce timely or accurate results.
- When you feel like your business isn’t structured in a way that promotes growth.
- When you’re not sure what factors are helping or hindering your business.
- When your business is growing but doesn’t have a growth plan in place.
- When you’re trying to find or secure outside financing.
- When you want to sell your business.
- When you need accurate financial and cash flow projections to make good decisions.
- When you need someone to negotiate with bankers, vendors, regulators, unions, and other third parties.
- When your financial staff needs training or guidance.
- When you need help identifying risks and opportunities.
- When you need financials with specific action items.
What Does Your Own CFO Do?
Financial analysis and operational results analysis.
We’ll analyze your financials and look for trends, inefficiencies, and opportunities that will help you make better decisions for your business. In addition, we can do the same for your operations, with an eye for key operations indicators.
Strategic financial planning.
We’ll get into the nitty gritty of your business and work with you and your employees to identify specific factors that will affect your growth and future success. With that information, we’ll be able to prepare detailed financial projections and create a strategic plan for your business’ future.
Opportunity and risk assessment.
We’ll evaluate your business and your industry to identify the risks and opportunities that could affect your company, both in the near future and long-term. Then we’ll work with you to develop a plan to both avoid the risks and capitalize on the opportunities.
Improve overall profitability.
We’ll audit your business’ entire operation to look for inefficiencies and holes that are costing you money. Then we’ll help you set up processes and systems to improve and monitor productivity going forward.
Systems assessment and development.
We’ll analyze your current systems to ensure they’re efficient and accurate, and develop any systems that you don’t currently have in place. This could include your financial accounting system, cost accounting system, accounts payable and purchasing processes, your operations process flow, and more.
Budget process development and maintenance.
We’ll fix your current budgeting processes for you, or develop them from the ground up if you don’t currently have any in place. We’ll work with you to create a budget based on your company’s past results and future goals.
Financial projections and cash flow projections.
We’ll ease the burden of worrying about your company’s future by creating financial and cash flow projections that will let you know your current cash situation, what you can expect in the future, when you should plan to hire additional employees and add more equipment, and more.
Key performance indicators monitoring.
We’ll monitor critical factors that will tell you how your business is doing and where you’re going. Monitoring key performance indicators gives you an advantage over simply monitoring financial statements because while financial statements tell us what happened in the past, key performance indicators let us know what’s happening right now, and can be used to predict what will happen in the future. Each business has different key performance indicators, which may include things like inventory levels, sales operations, backlog stats, cash collections, distribution items, order taking, and so on.
Business growth planning.
We’ll develop a growth plan for your business that will make it easier for you to know things like when to add cash, staff, training, distribution channels, and more. With a solid growth plan in place, you can feel confident knowing that your business is on track for success.