- Jan 15, 2020
- 3 min
- Jul 16, 2019
- 2 min
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Oversee Accounting Functions & Professional
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Peace of mind knowing that key financial relationships are being overseen by an experienced specialist, cash flow is positive and that budgets and forecasts are robust.
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Alignment of what can sometimes appear disparate functions
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Allows you to focus on the business, not in the business
Case Studies & Opinion Pieces
OVERSIGHT OF INTERNAL ACCOUNTING FUNCTIONS
What are the benefits of delegating the oversight of your accounts team to CFO Evolve?
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As the business grows and becomes more complex, even if you have the capability to effectively monitor your financial controller and Accountant in particular, it becomes questionable whether you have the capacity or if this is taking you away from growing the business.
You only have so much time in the day. You can discuss with the accountant whether the financials are compliant and tax minimised. You can oversee your financial controller to ensure the financials are timely and accurate, and in the same way you can work with your lawyer on due diligence or contracts and bank manager on the overdraft. Or you can get your part-time CFO to take on the accounting functions to oversee and provide guidance, do a more effective job of them and allow you to focus on growing the business.
The Problem
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How do you know if your financial controller is doing a good job? Are the capable in the evolving and growing landscape of your business requirements?
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Is your accounting functions team's work accurate?
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Are there other ways the numbers could be treated for tax and R&D purposes?
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Equally, your accountant gives you a list of journal entries at the end of the year. What does it all mean and why did we need to do it?
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Have you been nurturing your relationship with your bank or do you need to get a better deal on your business loan?
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How do I find an R&D specialist who is commercially astute and not just compliant?
The more you start to look into all these relationships, the more time you are taken away from growing the business.
How CFO Evolve can help your Business
Sometimes experience really does count.
Our part-time and virtual CFOs are specialists in their field with substantial experience at the top of the financial tree, your part-time CFO knows what to look for, knows the questions to ask and can speak what sometimes seems like a foreign language in this specialised field. They can then take that information and translate it back into the business seamlessly and accurately.
Not only does using a part-time CFO assist with your peace of mind that the financial department is functioning well and reports are solid, but our part-time CFOs act as a mentor and coach to your accounting team.
What are the benefits of delegating the oversight of your accounts team to CFO Evolve?
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Peace of mind knowing that key financial relationships are being overseen by an experienced specialist, cash flow is positive and that budgets and forecasts are robust.
-
Alignment of what can sometimes appear disparate functions
-
Allows you to focus on the business, not in the business
If you think that a part-time CFO could assist you and your business with your finance and accounting functions please use the quick contact button below.
Additional CFO Services
Our highly strategic part-time and virtual CFOs have experience across a broad range of C-suite services. We are highly capable part-time and virtual CFOs that can guide your business through cash flow management and forecasting through to developing a strategic plan or an acquisition strategy.
Below details some of our core services, but for a more in depth conversation about how we can help you by overseeing your accounting functions, please contact us for a confidential conversation.
If you are looking for business growth in your business a dedicated part-time CFO could grow your business with a combined approach of strategy and financial insights across process improvement, business efficiencies and business growth through inorganic means such as acquisition or partnerships.
Cash flow is critical to your business' success and survival. If you don’t take care of your business' cash flow, you could end up not having enough to continue running the business.
A part-time CFO could guide you through a cash flow restriction to ensure your business remains cash flow positive.
If you need to provide robust forecasting for one-off funding purposes or wish to use a forecasting model in an ongoing manner that incorporates your profit and loss, balance sheet and cash flow to have full understanding on where your business is going and its challenges, engaging a part-time CFO may assist evolve your business to the next level.
Having a clear strategy, strategic plan or business plan are fundamental building blocks to achieve growth. Your business plan needs to expressly state where the business is going, the strategies to achieve those outcomes, who is accountable for the strategy and the timeframes and measures to ensure they are on-track.
At CFO Evolve; our part-time CFOs build your company a strategic plan or business plan that works.
There are risks associated with many parts of business. Anticipating a business risk and uncertainties before they occur and ensuring the mitigation strategies are incorporated in the strategic plan goes a long way to taking the fluctuations out of your business and ensuring you are on a steady growth curve.
If your business requires a business risk review, a part-time CFO can begin the process much quicker than if you hire an internal CFO.
Whether through debt or equity, a bank, venture capitalist or private equity, it is important to make your organisation ready as a solid business with a strong profit & loss and balance sheet and as an attractive investment to optimise the result.
Our part-time CFO services prepare your company through 3-way forecasting, business planning and process improvement to enable your business is prepared for funding, investment and capital raising.
CFOs typically enjoy to teach and they love to help build team, skill sets and overall, the business. CFO Evolve offer their highly experienced team of part-time CFOs for CFO coaching and mentoring purposes to financial teams that have incurred rapid growth, undergoing inorganic growth such as via a merger, acquisition or strategic partnership and require extra assistance and guidance from a strategic financial perspective.
If you are looking to maximise business profit, CFO Evolve could grow your business with process improvement, business efficiencies and focus on the areas of your business to maximise profits, turn wasted hours into productive ones, saving time, frustration and money.
One of the milestone developments of your business will be the creation of an advisory board. It could be the next step in reporting and governance or a pre-cursor to a board of directors. Whilst it is important to have an industry specialist and someone strong in governance such as a lawyer, having a part-time CFO member to provide strategic financial advice in the team is key to the success of the advisory board.
Different from classic business planning, the strategic variety (incorporating acquisition, exit and other strategic activities) involves a long term horizon and out-of-the-box thinking. A strategic acquisition plan helps to provide direction and focus. It points to specific and rapid growth plans with results that are to be achieved and establishes a course of action for achieving them.
A good business coaching provider will not only review your business for growth areas but review the ability of the senior team and the leadership. Business coaching provides developmental ideas that can increase performance from the top down and can provide a sounding board for the CEO and Managing Director on business pain points to be addressed.
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