What’s Keeping You Up at Night?

If you’re a business owner/manager, no doubt some of these thoughts have kept you up at night at some point:

  • Is the company lacking timely financial information?
  • What is the company’s cash position?
  • Do you continually receive excuses why monthly reports are not complete?
  • Are you concerned that your current controller might unexpectedly quit?
  • Are you working overtime on tasks that are unrelated to growing the business, such as determining what bills to pay, preparing for meetings with accountants, lawyers, bankers?
  • Are you worried about the direction of the business?
  • Are you concerned about the company’s gross margins and profits?
  • Do we need help for strategic planning?

If so, have you considered outsourcing the CFO or Controller for your business?

Quite often, small- to mid-size companies are unable to afford the cost of a full-time Chief Financial Officer. Outsourcing CFO services on a part-time basis is becoming an increasingly popular option. Outsourcing a part-time CFO allows many smaller and mid-sized companies access to expertise from a financial and operational perspective. Additionally, outsourcing eliminates the risk of hiring a CFO before your company has the resources to support it.

Outsourcing can be tailored to your individual circumstances or needs:

  • As needed basis — Retain a CFO on an as needed basis; it can be 8 hours/week or 3 days/ month.
  • Specific project or assignment basis — Engagement is complete once project is complete.
  • Interim basis — Temporarily fill CFO position until permanent CFO can be found.

At Sponsel CPA Group, we can provide your organization with an experienced CFO or Controller on an outsourced, part-time basis at a fraction of the cost of a full-time employee. We will work with you to determine the best fit for your organization.

What can our CFO/Controller services do for you?

  • Work on providing timely and accurate financial statements.
  • Evaluate the company’s internal controls and assist in implementing improved controls to help minimize the risk of fraud and embezzlement.
  • Assess processes and procedures in the accounting and finance department, i.e. “Are the right people in the right seats?”
  • Generate analysis reports using metrics relevant and useful to non-financial managers.
  • Create a dashboard of key financial and operating information for CEO and staff, tailored to the company’s unique business drivers and financial indicators.
  • Develop a 90 to 180 day rolling cash forecast.
  • Prepare financial projections.
  • Find and negotiate financing as needed.
  • Help manage working capital.
  • Develop an annual budget.
  • Evaluate current results against budget.
  • Select and implement accounting software.
  • Coordinate audits.

Think about what is keeping you from growing your business – about the things that are keeping you up at night, and how to obtain peace of mind. Perhaps outsourcing your CFO/Controller is the right move for you.