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Rethinking Revenue for Measurable Impact

December 5, 2019 by crcfo123  

Before your nonprofit drafts its next strategic plan, I urge you to take a few minutes and grab a blank sheet of paper. First: Map out which organizations out there doing similar work. Then consider: What will your team uniquely bring to this issue?

In short: What will your measurable impact be?

That answer should guide everything – your business strategy, your structure and staffing, your communications, your partnership outreach. Everything. It might even reveal that you’d be better off joining forces with another organization, that the space is already too crowded or that your solution is missing a critical piece. For more visits Temporary CFO and Accounting Services

Every day, thousands of organizations, governments and individuals work to address serious social problems – poverty, hunger, poor education, environmental degradation. This is wonderful: People are taking issues into their own hands and – in some cases – making a real impact. For more visits Fractional CFO and Accounting Services

But a larger question persists: Are we all going about this the right way? Are too many organizations focused on the same issues, fighting for the same resources and fundraising dollars? Are competition and a lack of cooperation ultimately holding us back?For more visits Non-Profit CFO Services

Think about how overwhelmed donors must be. Then imagine how much stronger your case for support would be if you could offer solutions – an impact – that cuts to the heart of the issue. Imagine how much stronger your case would be if you could present a social impact “return on investment.” fFor more visits High tech CFO

When a group of us worked with Bread for the World to start the Alliance to End Hunger, our vision was to build the nonpartisan political and public will to end hunger. As vice chair and head of our development committee, I’ve seen firsthand how we’ve sometimes struggled to meet budget in a crowded anti-hunger nonprofit sector. Our “saving grace” has been our relentless focus on advocating for the best legislative solutions, such as the Global Food Security Act and a strong Supplemental Nutrition Assistance Program. For more visits Outsourced Bookkeeping Services

But our secret sauce has been using the power of “we” to advocate at the state, federal and international levels. We realized that our goal could be achieved only in partnership. Now the Alliance has almost 100 nonprofit and corporate members – organizations like Sodexo and Rise Against Hunger – whose own programs provide solutions to hunger all over the world, and whose membership dollars also support the core operations and budget of the Alliance. We’ve helped launch and support over a hundred “Hunger Free Communities” in the United States, totally run by volunteers, and we’ve “replicated ourselves” by helping to launch six international Alliances to End Hunger in Uganda and other African countries. For more visitsInterim CFO and Outsourced Tax Service

That was the impact we were striving toward. And we embraced it with our name – the Alliance to End Hunger. We embraced it in the way we reached out to partners and foundations, showing them exactly how their support would play a crucial role. Now our goal is to end hunger in the world by 2030, a goal shared by many others through a commitment to the Sustainable Development Goals adopted by the UN and others all around the world. For more visits Outsourced High Tech and Biotech CFO Service USA

 About the Author

CRCFO is a technical accounting and financial consulting firm utilizing a flexible and scalable team approach. Our technical team is led by highly experienced former Big 4 partners. To support your business strategy, we collaborate with your stakeholders to navigate your important transactions – IPOs, M&As, revenue arrangements - and other complex accounting, systems, process and business issues. CRCFO employs a risk-based approach to help you minimize transaction risk which maximizes stakeholder value by anticipating matters that can derail your business, transactions, financing, and external audits.

6 Reasons to Outsource Your Accounting

November 28, 2019 by crcfo123  

Consider outsourced accounting – the best financial talent when you need it.

As an entrepreneur and business owner, you have more important things to do than keeping your own books.

There is a clear advantage to outsourcing your bookkeeping, accounting, and finance functions. Your time is valuable and critical to the growth of your company and bringing products to market your time is not best used in managing or performing finance and accounting or HR functions. For more visitOutsourced CFO and Accounting Services

Put simply, an hour spent on an internal process is an hour lost to generating revenue. Additionally, outsourcing brings lower resourcing costs, better controls, and improved processes. For more visitAccounting Outsourcing

You may be under the impression that outsourcing reduces “control” over the accounting function. In fact, management has enhanced control when it can spend time analyzing business information instead of processing transactions and managing daily tasks. Real control is understanding revenue, costs, and profits generated by individual products/services, offices, salespeople, departments, and customers. For more visitNon-Profit CFO Services

 There are 6 key reasons to outsource your bookkeeping, accounting and finance functions:

  1. Convert fixed costs into variable costs. Hire the expertise you need, only when you need it and pay for the hours of service used.

  2. A cost effective alternative to hiring and developing accounting departments of experienced people.

  3. An easier way to undertake ad hoc projects within finance. For example, systems conversion, year-end audit preparation, tax preparation, and sales and use tax analysis.

  4. Offers deep technical strength to deliver comprehensive resources and best practices to deliver objective, high-value financial and management consulting. For example, software revenue recognition implementation, M&A due diligence, valuation services.

  5. Accurate financial statements on a timely basis to provide business intelligence to run the business, report to external investors and banks.

  6. Reduce the risk of exposure to tax and audit risks.

*Hiring costs can run 30% or more of salary.

Hire the expertise you need, only when you need it. Hire by the day, week, month or project.

About the Author


CRCFO is a technical accounting and financial consulting firm utilizing a flexible and scalable team approach. Our technical team is led by highly experienced former Big 4 partners. To support your business strategy, we collaborate with your stakeholders to navigate your important transactions – IPOs, M&As, revenue arrangements - and other complex accounting, systems, process and business issues. CRCFO employs a risk-based approach to help you minimize transaction risk which maximizes stakeholder value by anticipating matters that can derail your business, transactions, financing, and external audits.

Budget Season

November 22, 2019 by crcfo123  

Charles River CFO works as the outsourced accounting and finance function for over 100 companies. That is a lot of experience and insight.

 

The CRCFO team leader, the CFO, not only manages their internal team but is the key liaison to their client's leadership. We are the fractional CFO to such a diverse client group. As we head into the 2020 planning and budget season, here are a few leadership tips we'd like to share with you. High tech CFO

 

Get Your Culture Right

 Culture needs to lead and strategy should follow. Peter Drucker is known for this quote "Culture eats strategy for breakfast". Pretty straightforward. Culture is a key element to your company's success, without it, all that strategic thinking and initiatives are irrelevant. For more visit Outsourced CFO and Accounting Services 

 

 What are your cultural traits? Integrity, employee satisfaction, encouraging intellectual curiosity, attention to detail...there is a long list of traits, try ranking both what you want as your culture..but also force yourself to look at the reality of your culture, what do you have? The CFO is part of leading your culture and frequently your change agent. As a corporation it is easy to focus on strategy, particularly when under stress. Take Peter Drucker's quote to heart. Get your culture defined first, work with your CFO to not only define your culture but lead with it! For more visit Non-Profit CFO Services

 

 Defining Problems/Opportunities

 

It is not unusual to hear a company declare they have a problem/opportunity and its leadership team is often quick to jump in with their suggested solutions. It’s in the DNA of the leadership to solve problems but step back. Is this your problem/opportunity, or is it a symptom? So how do you define your problems/opportunities? 

 

There are several thought leaders, David M. Kelley and Hal Gregerson come to mind, with their approaches to asking open-ended questions to both define the problems and discover its solutions. From our work with a diverse group of clients, this trait of asking open-ended questions is key to the CRCFO Leadership. Try it at your next leadership team meeting. Keep asking questions! For more visit Finance and Accounting Outsourcing

 

 Strategy versus Tactics

 

We often see these two converge, and they are very different. Once you define your culture and problems/opportunities, a strategy can be discussed. But beware of jumping into tactics before you set a strategy. The strategy is the overarching plan with governing policies. Tactics are the execution. I like to think of the budget as the bridge between the two. If you spend more money on marketing versus research what does that mean for your organization? Do you need to keep innovation in the forefront or is brand awareness key to your success for more visits Part-time CFO and accounting services

 

 Design your 2020 overarching plan based on your corporate culture and the opportunities you see. If you throw a budget out to your leadership team without doing this first, don’t be surprised to see a cookie-cutter exercise of % increases across the board. We are working on 2020 budgets with our clients, getting the client's culture. Well defined problems and their corporate strategy are the first key ingredients in building the budget. Tactics become the roadmap to achieving your plan. Reach out to one of our outsourced CFOs for more insight.For more visit Fractional CFO and Accounting Services

About the Author

CRCFO is a technical accounting and financial consulting firm utilizing a flexible and scalable team approach. Our technical team is led by highly experienced former Big 4 partners. To support your business strategy, we collaborate with your stakeholders to navigate your important transactions – IPOs, M&As, revenue arrangements - and other complex accounting, systems, process and business issues. CRCFO employs a risk-based approach to help you minimize transaction risk which maximizes stakeholder value by anticipating matters that can derail your business, transactions, financing, and external audits.

10 Reasons Why Every Start-Up Company Needs a CFO

November 15, 2019 by crcfo123  

We have provided part-time CFOs to start-up companies for over 15 years. Time and time again, a senior CFO has improved these companies’ findability, operating health, and exit value. Here’s why every start-up company needs a part-time CFO:

Increase success in raising capital

A senior CFO is a key member of a strong management team, even on a part-time basis. He or she adds credibility and quality to the company’s financial model and projections; helps the CEO articulate the company’s financial vision, and efficiently negotiates and closes funding rounds. for more visit Outsourced CFO and Accounting Services 

Avoid big mistake

Every company experiences a missed forecast, unexpected cost overruns, unbudgeted expenses, and other surprises. Senior CFOs are experts at anticipating the unforeseen, preparing for adversity, and minimizing the effects on the organization and its cash. For more visit Accounting Outsourcing

Optimize cash management

A part-time CFO provides solid forecasting and expense management to extend your company’s runway and buy time to create more value.

Improve company management


Experienced CFOs know how to manage financial and administrative tasks of all types. They know what things should cost, and can quickly and favorably negotiate benefits, insurance, leases, bank lines, legal fees, outside service providers, and more. They make sure that accounting numbers are accurate and on time. They can fluently manage ancillary operations and departments so that your knowledge team doesn’t have to spend time in the back office. for more visit Finance and Accounting Outsourcing


Avoid groupthink

A good CFO knows how to constructively challenge a plan, proposal, number, or claim. It is their fiduciary responsibility and unique skill to bypass conventional thinking and force 360º problem solving to increase the chance of success.

Build credibility with the board and investors

Investors appreciate and value a senior CFO’s contribution. They know that a good CFO can be a trusted advisor and will improve the company’s, and the CEO’s, performance. For more visit

Part-time CFO and accounting services


 Increase the Likelihood of refinancing


Companies that meet or exceed plan, manage cash and headcount well, have a history of delivering accurate, on-time financials, and report few negative “surprises” typically get high marks from existing investors. And happy existing investors attract new investors.

Create constituent confidence


Having senior CFO reassures employees, creditors, suppliers, banks, service providers, and investors. You will attract better people, get better terms, and operate better. For more visit

Interim CFO and Accounting Services

Increase the probability and price of an M & A event


More than 90% of exits are achieved through a company or asset sale—often early in a company’s evolution. M&A buyers, often public companies, will either drastically discount or avoid a young company with weak financial, administrative, and operational management because the integration of pain and clean-up cost is too high. A part-time senior CFO can minimize the discount, friction, and transaction pain, thereby yielding a higher return for all.

For more visit Temporary CFO and Accounting Services-

Get a return on your investment

A part-time CFO more than pays for their service, providing senior CFO expertise without full-time employee headcount. Many startups use a part-time CFO for as little as five hours per month and can scale his or her involvement as the startup grows. As affordable as a part-time CFO is, how can you afford not to have one?

About the Author

 

CRCFO is a technical accounting and financial consulting firm utilizing a flexible and scalable team approach. Our technical team is led by highly experienced former Big 4 partners. To support your business strategy, we collaborate with your stakeholders to navigate your important transactions – IPOs, M&As, revenue arrangements - and other complex accounting, systems, process and business issues. CRCFO employs a risk-based approach to help you minimize transaction risk which maximizes stakeholder value by anticipating matters that can derail your business, transactions, financing, and external audits.


The Benefits of a Part-Time CFO

November 6, 2019 by crcfo123  

Benefits of a Part-Time CFO

Why consider a part-time CFO?

Big and small entrepreneurs need someone who will manage their companies’ finances to attain financial stability, and it has got to be a chief financial officer. However, hiring a CFO is not applicable to all. There are some who cannot afford to do so. Fortunately, there are part-time CFOs ready to meet different company preferences.

Hiring a part-time CFO costs less than getting a permanent one. For small companies who do not have complex financial needs yet, it is best to hire a part-time CFO. CFOs do not need to complete eight hours a day and five days a week. Some CFOs are skilled enough that they only render services for one day a week.

In addition, part-time CFOs can provide services that are at par with those of full-time CFOs; therefore, with part-time CFOs, companies can achieve financial growth without investing too much in hiring a professional finance executive. There are usually no contracts, too, that bond a company with a part-time CFO. This drives part-time CFOs to perform better.

Since the part-time CFO is only required to render CFO services for a short period, (s)he strives to meet the company’s financial goals within the allotted time. Thus, the objectives are attained faster. It is not only cost-efficient, but is definitely time-efficient, as well. Companies have more time to focus on other areas; thus, faster growth is achieved.

Hiring part-time CFOs is also advantageous to the whole finance department staff. Part of the CFO services is providing staff with updated information about finance management. If there is a new CFO to mentor them, learning becomes continuous. Their knowledge about financial management is constantly renewed.

 

It is also a CFO’s responsibility to take part in the company’s strategy-making. If the company always hires a new CFO, new strategies are formed and new approaches are developed. For entrepreneurs who want to embrace new administrative and operational methods, it is ideal that they get part-time CFO services.

The Benefits o

November 6, 2019 by crcfo123  

Benefits of a Part-Time CFO

Why consider a part-time CFO?

Big and small entrepreneurs need someone who will manage their companies’ finances to attain financial stability, and it has got to be a chief financial officer. However, hiring a CFO is not applicable to all. There are some who cannot afford to do so. Fortunately, there are part-time CFOs ready to meet different company preferences.

Hiring a part-time CFO costs less than getting a permanent one. For small companies who do not have complex financial needs yet, it is best to hire a part-time CFO. CFOs do not need to complete eight hours a day and five days a week. Some CFOs are skilled enough that they only render services for one day a week.

In addition, part-time CFOs can provide services that are at par with those of full-time CFOs; therefore, with part-time CFOs, companies can achieve financial growth without investing too much in hiring a professional finance executive. There are usually no contracts, too, that bond a company with a part-time CFO. This drives part-time CFOs to perform better.

Since the part-time CFO is only required to render CFO services for a short period, (s)he strives to meet the company’s financial goals within the allotted time. Thus, the objectives are attained faster. It is not only cost-efficient, but is definitely time-efficient, as well. Companies have more time to focus on other areas; thus, faster growth is achieved.

Hiring part-time CFOs is also advantageous to the whole finance department staff. Part of the CFO services is providing staff with updated information about finance management. If there is a new CFO to mentor them, learning becomes continuous. Their knowledge about financial management is constantly renewed.

 

It is also a CFO’s responsibility to take part in the company’s strategy-making. If the company always hires a new CFO, new strategies are formed and new approaches are developed. For entrepreneurs who want to embrace new administrative and operational methods, it is ideal that they get part-time CFO services.

What are the benefits of CFO and Why a Startup Company needs a CFO?

October 28, 2019 by crcfo123  

 

Big and tiny entrepreneurs would like somebody who can manage their companies’ finances to realize monetary stability, and it needs to be a chief money handler. However, hiring an Outsourced CFO and Accounting Services doesn't apply to any or all. Some cannot afford to try this. As luck would have it, there are part-time CFOs able to meet different company preferences.

 

Hiring a part-time CFO and accounting services prices but obtaining a permanent one. For tiny corporations who don't have complicated monetary desires; however, it's best to rent a part-time business executive. CFOs oughtn't to complete eight hours every day and five days every week. Some CFOs are competent enough that they solely render services for in some unspecified time in the future every week.


 Also, part-time CFOs will give services that are at par with those of regular CFOs; thus, with part-time CFOs, corporations can do monetary growth while not invest an excessive amount of in hiring knowledgeable finance govt. There are typically no contracts, also, that bond an organization with a part-time business executive. This drives interim CFO and accounting services to perform higher.


 Since the part-time business executive is just needed to render business executive services for a brief amount, (s) he strives to satisfy the company’s finance and account outsourcing goals inside the assigned time. Thus, the objectives are earned quicker. It's not solely cost-effective; however, it is time-efficient, as well. Corporations have longer to specialize in different areas; therefore, quicker growth is achieved.


 Hiring part-time CFOs is additionally advantageous to the entire finance department employees. A part of the business executive services is providing employees with updated info regarding finance management. If there's a brand new business executive to mentor them, learning becomes continuous. Their information on economic management is unendingly revived.


 It is additionally a CFO’s responsibility to require half within the company’s strategy-making. If the corporate continuously hire a brand new business executive, new methods are shaped, and new approaches area unit developed. For entrepreneurs who need to embrace the new body and operational ways, it's ideal that they get part-time business executive services.


 Reasons why any Startup Companies need CFO?


 Time and time once more, a senior business executive has improved several companies’ findability, operational health, and exit price. Here’s why each start-up company wants a part-time CFO:


 Successfully Raises Capital


 A senior chief financial officer could be a crucial member of a powerful management team, even on a part-time basis. He or she adds quality and quality to the company’s money model and projections; helps the chief operating officer articulate the company’s industrial vision, and with efficiency negotiates and closes funding rounds.


 Avoid to Make Big Mistakes


 Every company experiences an incomprehensible forecast, sudden value overruns, unbudgeted expenses, and alternative surprises. Senior CFOs are consultants at anticipating the unforeseen, making ready for adversity, and minimizing the consequences on the organization and its money.

 Optimize Cash Management


 A part-time CFO provides robust forecasting and expense management to extend your company’s runaway and buy time to create more value.

 Improve Management of the Company

 Experienced CFOs skills to manage money and body tasks of every type. They apprehend what things ought to value, and may quickly and favorably discuss advantages, insurance, leases, bank lines, legal fees, outside service suppliers, and more. They create sure that accounting outsourcing numbers are correct and on time. They'll fluently manage adjunct operations and departments so that your information team doesn’t have to be compelled to pay time on the rear workplace.


 Avoid in Group Thinking

 A good CFO knows how to challenge a plan, proposal, and number constructively, or claim. It is their fiduciary obligation and different skill to avoid traditional thinking and force 360º problem solving to increase the chance of success.

Build Credibility

 Investors appreciate and value a senior CFO’s contribution. They understand that a decent CFO can be believed consultant and will enhance the company’s accounting sourcing, and the CEO’s performance.

 Increase the Possibility of Refinancing

 Corporations that fulfill or exceed plan manage cash and headcount well have a history of delivering accurate, on-time financials, and report few negative “surprises” typically get high marks from existing investors. And happy existing investors attract new investors.

 Help in Creating Constituent Confidence

 Having senior CFO reassures employees, creditors, suppliers, banks, service providers, and investors. You will persuade people nicely, get decent terms, and regulate better.

 Increase the Probability

 More than 90% of entrances are attained through a corporation or asset sale—often early in a company’s development. M&A buyers, often public firms, will either drastically rebate or avoid a young corporation with weak financials, executive, and operational supervision because the integration of pain and clean-up cost are too high. A part-time senior CFO can minimize the discount, friction, and transaction pain, thereby yielding a higher return for all.

 Give Return to your Investment

 A part-time CFO more than pays for their assistance, furnishing senior CFO creativity without full-time worker headcount. Many startups borrow a part-time CFO for as little as five hours per month and can measure his or her investment as the startup grows. As accessible as a part-time CFO is, how can you afford not to have one?


What is Rethinking Revenue for a Measurable Impact on a Company?

 That answer should guide everything – your business strategy, your structure, and staffing, your communications, your partnership outreach. Everything. It might even reveal that you’d be better off joining forces with another organization, that space is already too crowded or that your solution is missing a critical piece. Every day, thousands of organizations, governments, and individuals work to address pressing social problems – poverty, hunger, poor education, environmental degradation. This is wonderful: People are taking issues into their own hands and – in some cases – making a real impact. But a larger question persists: Are we all going about this the right way? Are too many organizations focused on the same issues, fighting for the same resources and fundraising dollars? Are competition and a lack of cooperation ultimately holding us back?

 Think about how overwhelmed donors must be. Then imagine how much stronger your case for support would be if you could offer solutions – an impact – that cuts to the heart of the issue. Comprehend how much power your case would be if you could relate a social impact “return on investment.”

About Author

 

CRCFO is a technical accounting and financial consulting firm utilizing a flexible and scalable team approach.  Our technical team is led by highly experienced former Big 4 partners. To support your business strategy, we collaborate with your stakeholders to navigate your important transactions – IPOs, M&As, revenue arrangements - and other complex accounting, systems, process and business issues. CRCFO employs a risk-based approach to help you minimize transaction risk which maximizes stakeholder value by anticipating matters that can derail your business, transactions, financing, and external audits.