As Year-end Approaches, Finish Strong and Focus Forward As CEOs and other leaders come to grips with the reality of another year quickly coming to a close, many simultaneously recognize that it is a vital time to take stock of what needs to be done to strengthen one’s business and get it to where we …
Category Archives: Finance
06
Sep
Sep
Five HR Pitfalls to Avoid After a Merger or Acquisition In a previous post, we examined the important topic of The Roles HR Can Play During Merger and Acquisition. When effectively leveraged, HR instills confidence and calm in leaders and employees that all bases are covered in this time of transition. But HR’s role doesn’t …
07
Aug
Aug
It’s common for decision makers in growing companies to mentally survey their finance and accounting technology stack and realize that most of the information they receive originates from Excel or other disconnected applications. They also often conclude that most of their internal control points are similarly Excel-based, or at least managed by people that are …
22
Mar
Mar
“Churning” is probably not the best choice of words in the title of this article, since it can have negative connotations in any business – especially a recurring revenue model. However, I do want to draw attention to the concept of churn – the rate of client termination – because it: Is an essential element …
29
Nov
Nov
Do YOU have $3 million of cash hiding in plain sight? The vcfo team worked with a client in the manufacturing industry selling products to automobile paint and textile customers. We were looking for ways to increase their cash available. By digging into their financials, we determined that they were carrying 90 days of finished …
26
Oct
Oct
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 …
02
Jun
Jun
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. …
21
Jan
Jan
Strategic planning can be critical to the success of a business. As a Consulting CFO, I have been engaged in many strategic planning sessions over the years and I find that there are common mistakes leaders make. Here are some examples and ways to mitigate the challenges. Using an internal facilitator who does not …
22
Aug
Aug
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 …
11
Aug
Aug
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 …