As a business grows, it frequently reaches the point where financial advice is needed from a professional. Unfortunately, the cost of hiring a full-time CFO (chief financial officer) or controller may not currently be justified. What to do? One solution is to outsource CFO services.
What is a CFO? As just referenced, the letters stand for “chief financial officer”. This person is responsible for a company’s financial actions management and is likely a senior officer. Duties can include the following:
- Identifying and analyzing financial weaknesses and strengths of a company and…
- Proposing corrective actions
- Tracking financial planning
- Tracking cash flow
Tailored to your industry and business, Fourlane offers expert CFO services. Spanning several industries, with thousands of businesses, we’ve implemented QuickBooks so that you can access valuable financial insight and oversight. Now, with our virtual CFO, you can have financial expertise at your fingertips.
Outsourcing CFO Services
What can you expect when you outsource CFO services? If you go through Fourlane, anticipate the following:
- Someone to handle cash management/treasury duties and other cumbersome issues.
- To increase profits and reduce employee theft within your business, a professional who will establish strong financial controls.
- Expansions, equipment purchases, etc. analysis.
- Custom-designed collection procedures and policies.
- With timeliness of financial information and improved quality, in-depth financial reporting and analysis.
- Improve your financial modeling and forecasting.
- Software implementation/selection.
- Including company accounting procedure manual development, management and training of your account staff.
- Profitability analysis and cost/review benefit analysis.
- Including assistance with negotiations, help in obtaining financing from banks.
- Liaison with insurance agents, vendors, attorneys, bankers, etc.
Additional Ways in Which Fourlane Can Be of Assistance
Team accountability – When an outsourced CFO discusses shortcomings and manages goalsetting in operations and sales, you no longer have to be the bad guy!
Experienced, expert advice – To help make sound strategic business decisions, you want an expert in your corner. This can include spending reduction, equipment upgrades, hiring, and more.
Financial relationships management – The best rates can be negotiated by outsourced CFOs. Offload your meetings with attorneys, insurance agents, banks, and other vendors.
Planning that is future focused – We offer assistance with both long-term and short-term goal setting, planning and, to meet those goals, removing barriers.
Implement Best Practices – To your team, you can bring years of best practices where financial reporting and accounting is concerned. Look at your business in a “What the best businesses do.” frame of mind rather than a “What we’ve been doing.” standpoint.
Make everything easier – We can help your entire team work more efficiently because we specialize in process creation and training.
Your Virtual CFO
At Fourlane, with years of experience, our team of accounting professionals can be the solution to your CFO needs. We serve both nonprofit and private organizations. With a dedicated point person to regularly dive into the depths of your business’s numbers, you’ll benefit from our entire expert team.
One of the best Advanced QuickBooks Pro Advisors in the country, Founder and CEO Marjorie Adams is responsible for Fourlane. The developer of Intuit’s QuickBooks Enterprise certification and training, she has won Insightful Accountant’s QuickBooks Pro Advisor of The Year award. In fact, for our own consultants, Ms. Adams provides core training.
Contact us today to find out more.