As a business owner, we know you are very busy working in your business, delivering services to your customers. The whole administration and finance area just isn’t your priority when fighting the urgent daily fires. Before you know it, your year end has come and gone, and you finally sit down with your accountant months later. That’s when you learn that your financial records are a mess, and the business hasn’t done as well as you thought. But it’s too late to make changes for last year. It’s too late to make any significant changes this year because you are already six months into the year.
It doesn’t have to be this way. Technology is rapidly improving and replacing the data entry function performed by the bookkeepers which means more accurate and timely information. However, what you need is someone who can manage the financial information and interpret the results on a timely basis. A Chief Financial Officer (CFO).
The salary for a full-time CFO is well into the six figures plus benefits, plus vacation and sick time. That is why outsourcing CFO services is becoming increasingly popular. Savvy business owners realize that they need help to achieve their business goals, but they can’t afford someone full-time on the payroll.
Benefits of using the Davies & Associates Virtual CFO Service:
Our Virtual CFO service provides the financial oversight, support and expertise at a fraction of the price of a full-time CFO.
– Timely financial information to make decisions
– Monitoring of Key Performance Indicators (KPIs)
– Identifying and addressing problem areas
– Cash flow management
– Strategies to accelerate business growth
– Profitability improvement
– Trusted and experienced team
Services are tailored to your needs and can include:
– Bank and credit card reconciliations
– Monthly government reporting (WSIB, payroll deductions, HST)
– Financial oversight as well as monthly KPIs, assistance with month-end adjustment and monthly financial statements
– Balance Sheet, Income Statement and prior year comparisons
– At least one meeting per month with your Virtual CFO, to review the results and determine next steps and to allow business owners to make adjustments to business processes as needed
– Unlimited phone calls and emails
– Advice on routine business
What’s next?
We’ll recommend a fixed-price package that has services specifically designed for your business.