Category Archives: Finance Consulting

Using Competitive Insights to Catapult Past the Competition

Top performing businesses assess their strengths and weaknesses and where they hold competitive advantages or disadvantages against their competitors.  Research and actionable information increase the odds of outperforming the competition.  Take a look at the following financial benchmarks implemented for vcfo clients and consider how you can achieve similar results in your organization. Increasing Cash …

Two Sets of Books for Revenue Recognition

You Will Have to Keep Two Sets of Books if Impacted by the New Revenue Recognition Standard. It is not too soon to be evaluating the impact of ASC 606 on their financial reporting and other aspects of their business. It is recommended that businesses undertake and impact assessment and develop an implementation plan and budget.  …

How to Determine if You Need New Accounting Software Part Two – Systems Selection

In part one of this series, I identified the considerations you should keep in mind when deciding whether or not your company has outgrown Quickbooks. Part two covers how systems selection is the first big hurdle in a conversion.  Selecting the “wrong” system is not an uncommon mistake and the “right” system may be one of several …

How to Determine if You Need New Accounting Software Part One

A common concern for many of our clients is in regards to their accounting software, specifically QuickBooks. Deciding when to make the switch from QuickBooks for a more robust accounting or Enterprise Resource Planning (ERP) system is no trivial matter. On the one hand, once a company has outgrown QuickBooks, remaining with it may limit …

The Single BEST Way to Prevent Financial Fraud

Financial fraud is a bad scenario for business owners. Beyond the embarrassment or the financial loss, fraud can also result in the termination of a long-term employee. A few factors may put a company at risk; however, the primary cause is a lack of internal controls and oversight. We also find that a lack of …

Someone Wants to Buy My Business! Now What?

It’s the call many business owners dream of: out of the blue, a big competitor or maybe a holding company calls and says they’re interested in buying your business. Maybe you instantly start seeing big dollar signs, or perhaps you’re unimpressed, but either way, you’re probably thinking the same thing almost all of my clients …

From Passion to Profitability: Tips for Independent Breweries and Wineries

In the Pacific Northwest, craft beers, microbrews and local wines are highly celebrated and sought after. But if you work in the business then you know that local enthusiasm doesn’t make the brewing or winemaking business in Washington state or Oregon easy by any means. This post explores some key trends that are shaping business …

Improving Manufacturing Profitability: A Four-Step Plan

For manufacturing firms, managing product lines to maximize gross margins while maintaining quality and safety standards is the key to profitability and success. In this industry, it is critical to have clearly defined profitability measurements and a plan for tracking, analyzing and integrating that data to inform the financial and operational decisions necessary to sustain …

How suppliers can prepare for aircraft manufacture cost-cutting demands: 5 key steps

From a competitive standpoint, 2016 has been a choppy year for major aircraft manufacturers. Intense pricing competition between Airbus and Boeing, as well as increasing competition from Bombardier, have led both companies to pursue cost-cutting efforts. The ripple effects to suppliers from Boeing’s latest efforts, including requests for longer payment terms, have significant business implications. …

6 Ways Restaurants Can Avoid Unnecessary Credit Card Processing Costs

The pressures on restaurant owners and managers are relentless. New competition. Shifting economic conditions. Changing tastes. All kinds of constantly evolving business considerations make it easy to get caught up worrying about things like customer service and turnover while revenue and profits slip away. In fact, when we provide CFO consulting services to restaurants, we …