5 Things to Consider When Negotiating with a Bank

pencil Posted by Richard Veltre on January 23, 2018

Whether you’re a sole proprietorship, limited liability company, or corporation, obtaining a small business loan will be a top priority when it’s time to expand your company’s reach.

If you dread ‘haggling,’ consider these tips for negotiating with a bank.


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9 Keys to a Successful Audit

pencil Posted by Richard Veltre on January 11, 2018

Preparing for an audit and its associated fieldwork can be overwhelming and time-consuming. Below, we’ve outlined helpful tips to help this yearly process go more smoothly.

Here are the 9 keys to a successful audit.


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10 Things a Controller Should Do

pencil Posted by Richard Veltre on January 4, 2018

A controller is an important member of your company’s management team. In large companies, the CFO is responsible for the overall financial strategy while the controller manages the day-to-day aspects of your accountants, payroll managers, tax managers, credit managers, etc. The controller’s role in smaller companies, however, can include the broad strategic responsibilities of a CFO in addition to hands-on management.

Here are the ten things a controller should do:


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How Outsourced Accounting Helps with Restructuring

pencil Posted by Richard Veltre on December 27, 2017

An electronic burglar and fire alarm company was going through a troublesome restructuring. Opportunities for consolidation in the local industry were abundant due to new state regulations and licensing requirements, but the company would miss out on those opportunities unless they quickly eliminated their current issues. When they found they couldn’t manage the situation on their own, they enlisted the services of an outsourced accounting team.


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How an Outsourced CFO Can Help with Audits

pencil Posted by Richard Veltre on December 21, 2017

Many situations require an audit. For example, one may be required under a bank loan covenant or by private debtholders, other stockholders, or members of your board of directors. Or maybe your company accepted a venture capital or private equity investment and an audit is a requirement of the funding. No matter what the reason, however, the audit process remains the same – you decide how stressful and time-consuming the process will be. We’ve all heard stories about audits that felt disruptive, chaotic, and traumatizing, but yours doesn’t need to be a nightmare.


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Using a Fractional CFO When Your CFO Resigns

pencil Posted by Richard Veltre on December 13, 2017

A wholesale distributor of orthopedic shoes with 30+ years of success under its belt found itself in a precarious position. The company’s management had taken a series of supply chain missteps that threatened the company’s survival; to regain control, most of the operational management team was terminated. Then, when the CFO and controller quit unexpectedly within six months of each other, senior management had no finance executives and no finance team, putting the company on the brink of failure.


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How a Fractional CFO Helps Global Companies

pencil Posted by Richard Veltre on December 8, 2017

A U.S. subsidiary of a global manufacturer of specialty chemicals and gases had a challenge: the CEO, who was based at the parent company and primary supplier in Germany, had been using an outside accounting firm for financial advice, but the services were inadequate and didn’t justify the cost. The CEO had established the business, enlisted a sales force, and had adequate back office support, but needed to supplement the back office with a solid finance team. The U.S. subsidiary’s accounting practices were also in disarray.


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3 Times You’ll Need Outsourced CFO Services

pencil Posted by Richard Veltre on November 29, 2017

As small businesses grow, financial management becomes increasingly complex, and those doing the books during the business’s fledgling years may lack the expertise to handle the changes. Allowing them to continue without the right skills will be a very costly mistake, as the availability of accurate financial reports, forecasting, budgeting, and account monitoring are crucial to growth and profitability.

The best way to tackle this problem is to find a financial expert whose expertise expands past basic cash accounting – that is, a CFO.


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The Benefits of Using an Outsourced CFO

pencil Posted by Richard Veltre on November 21, 2017

To be successful, all businesses must maintain good finances and financial records, which usually means having an accounting department and chief financial officer (CFO). In the case of needing a CFO, sometimes the best option is utilizing the services of an outsourced CFO (also known as a virtual CFO or fractional CFO).

Below are several of the benefits of using an outsourced CFO.


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The Benefits of Outsourced CFO Services

pencil Posted by Richard Veltre on November 15, 2017

The CFO is a vital executive – but hiring a permanent CFO is very costly, especially for startups and small businesses; many cannot afford CFOs’ high salaries, generous benefits packages, and hefty bonuses. Luckily, there’s another option: outsourced (or virtual) CFOs. These CFO consultants are professionals with the experience you need and the ability to bring their expertise to your business with a lower price tag.


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