3 Signs It's Time to Use Outsourced Accounting Services

pencil Posted by Richard Veltre on November 7, 2017

Running the financial and accounting aspects of a growing business takes time and effort, and at some point, it’s likely that it will become a bigger task than you can handle on your own.

When that time comes, trying to “make it work” without making any changes does your business an injustice – cutting corners and rushing through the job to get it done is not how successful businesses run their finance departments.

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Should Your Company Use Outsourced Accounting Services?

pencil Posted by Richard Veltre on November 2, 2017

Every company has financial needs and requires a way to handle them. Many companies do so with an in-house accounting team, but some companies can’t afford – monetarily or resource-wise – an in-house accounting team. If your company is making a transition, is a startup, or is looking for ways to reduce costs, there’s an option that’s not an in-house accounting team.

It’s outsourced accounting services.

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Controllers vs CFOs: What You Should Know

pencil Posted by Richard Veltre on October 24, 2017

There are two financial leadership roles in business: controllers and CFOs. They have very different jobs and are not interchangeable; although both typically have an accounting background and may begin their careers as accountants, CFOs need a much broader skill set.

The difference between controllers and CFOs is primarily that of perspective. Controllers focus on compliance and historical record keeping (i.e., tactics), whereas CFOs focus on planning and future performance (i.e., strategy).

Here’s the scoop on controllers vs CFOs:

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You Don’t Just Get an Outsourced CFO… You Get Their Network, Too

pencil Posted by Richard Veltre on October 20, 2017

There are many components of running a profitable business, and having a strong network is one of them. One way to do so, of course, is by building your own network around your business, but don’t forget the other ways you can make your network grow – by bringing in more contacts based on the people you do business with and the people you hire.

An outsourced CFO is an example of a person you could hire who would come with a strong network.

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What to Expect from CFO Consulting Services

pencil Posted by Richard Veltre on October 13, 2017

Is your company financially stable and ready to expand? Are you wondering about the financial feasibility of adding or eliminating product lines without affecting your profits? Has someone approached you with a merger or acquisition deal? If any of these scenarios apply to you and you don’t have a chief financial officer (CFO), now is the time to seek CFO consulting services.

Here's an idea of what to expect from CFO consulting services.

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Outsourced CFOs Vs Full-time CFOs: What's the Difference?

pencil Posted by Richard Veltre on September 29, 2017

As your business grows, you’ll probably ask yourself when – or if – you need a CFO. The key factor, according to Forbes.com, is whether or not you’re getting the financial information you need to make important decisions without a CFO.

If you decide you need a CFO, you have two options: hire an in-house CFO or hire an outsourced or fractional CFO who works as a CFO consultant for your company.

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Do I Need a CFO or a Controller?

pencil Posted by Richard Veltre on September 20, 2017

As your small business grows, you'll reach a point where the sheer volume of your back office tasks will exceed your available time. Things like accounts payable, payroll and human resources, and investor and bank reporting all require prompt and appropriate attention. So who's going to help you to handle all of those tasks?

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Geographic Expansion: What You Need to Know

pencil Posted by Richard Veltre on September 13, 2017

Expanding your business geographically will grow your sales portfolio and revenue while also creating a more extensive brand awareness. Before you begin, however, there are some fundamentals to cover.

Choose a Location

Don’t randomly choose a location to expand into – do your research first. Consider the markets you’re most interested in to determine:

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Getting Out of a CFO Bind with Outsourced CFO Services

pencil Posted by Richard Veltre on September 6, 2017

A business may find themselves in a "CFO bind" when transitioning to a new CFO or if their CFO leaves without a replacement lined up. This can cause significant upheaval for a company, and it’s important that financial leadership doesn’t falter during this transition period.

So what do you do while you’re onboarding the next CFO or searching for a new one?

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Why You Need to Create a Business Exit Strategy Plan

pencil Posted by Richard Veltre on September 5, 2017

Businesses always start with a dream. In fact, maybe you were literally asleep when you had the million-dollar idea. With a lot of blood, sweat, and tears, you made your idea real, and now you’re happily running your business, not thinking about the end.

Here's why you need to create a business exit strategy plan.

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