World-class accounting and experienced financial management can take your business to the next level, make you wealthier and make it easier for you to manage your company. It has been commonplace for business owners to look at accounting as a cost center rather than a profit center. But for owners who invest in such expertise, a high return on investment is unequivocal. Why is that? Answer: There are so many ways for good financial managers to add to net income, from improving gross margins, cutting operating costs, waste and inefficiency, reducing costs of financing, using technology more advantageously, strengthening internal controls to prevent theft, eliminating penalties and interest for late or non-filing of tax returns, and believe it or not, the list goes on.
The head of accounting and finance is the Chief Financial Officer (CFO), who quarterbacks and oversees all of the accounting and finance functions below them AND serves as strategic advisor to the CEO. Most businesses don’t have a CFO. Yet extremely rare is the company that doesn’t need one. There are just too many spinning plates in accounting and finance for a company to do them all well without a leader. Head coaches hire assistant coaches. CEO’s hire CFO’s, COO’s, CMO’s, and CTO’s. Operating without such a leader is like putting a car in drive without a driver. It’s going to zig-zag, possibly crash, and not arrive at its desired end point.
Look at the accounting org chart (job descriptions for each) below and see how many moving pieces there are to manage. Each of those positions requires a specialist. No generalist can do all of them well. You might think your business doesn’t need all of those disciplines, that that’s for big companies. If so, show me one of those functions your company doesn’t need.
Affording all of that is another thing altogether. The good news is that you don’t need to hire each of these positions. Full-time staff should be strategically hired to perform a combination of some of these job functions. The rest can be cost effectively outsourced on a part-time basis. Oh sure, you’re thinking, where am I going to find all those part-timers that have the desired expertise and are available on a part-time basis for just the amount of hours their tasks require?
That’s where a corporate financial management firm (CFM firm) such as CFO & Co. comes in. We are the rest of your accounting department, filling in gaps that exist. You don’t need to live “without” anymore. You can cobble together all that you need for way less than you think. Why? Because it’s available part-time for just the hours you require. All of those job positions handle vital tasks but not all of them are full-time jobs. Some may require an hour or two a month, others eight hours a month, and still others maybe none this month and four the next month. You can have total flexibility but still get the expertise you require.
That’s why we like to say we’re your financial Swiss army knife, a multi-purpose tool to tighten the nuts and bolts of your business, cut costs, open new opportunities, and file on time, to name a few. If you would like some ideas on how to have better financial management in your company, let us show you how our clients are using us and achieving dramatic returns on their investments.