All SME business once reach to a point where its complex decision-making process needs a financial officer and controller but owners often defer to appoint a full time Chief Financial Officer to avoid major dent on payroll bills.
WISEADVICE has an ideal and absolute solution for SMEs. Our flexible time CFO Service handles everything from complex financial transactions to routine matters and gives you financial insight beyond your internal capabilities. Our outsourced CFO services allow you to focus on your “core business” activities, and to achieve financial growth that otherwise might be out of reach. You will have all these service at a small fraction of the cost and benefits that other firms spend on hiring a full time CFO on board.
Alternatively, WISEADVICE will assist you in:
We do not advice to do things rightly we only advice to do the “RIGHT THINGS”.
Why Do You Need CFO Services?
We believe that in business Revenue is vanity, profit is sanity but cash is KING.
Your business' sales numbers are great to display, but they don’t ultimately mean much if your cash flow is unstable Profit offers peace of mind, surely, but it doesn’t indicate that your business financials are sound. Only stable, reliable cash flow can truly demonstrate success. Outsourced CFO is responsible for Annual stable cash projections, Quarterly latest best estimates and monthly re-forecasting.
Reviewing and analyzing financial statements provide the user with trends and indicators to compare operations and management. These statements include the income statement, balance sheet, statement of cash flows, and a statement of changes in equity
Will come to know what’s bothering the business owner most and will help a company get on track, needs to be aware of the key issues the company is facing financially. Your financial statements will tell us the ‘what’, but not the ‘why.’ That is important for us to understand as well.
Break even points are central to a business plan, not many company owners pay attention to it. They don’t understand the formula to calculate at what point they have enough sales to cover their expenses, after which their sales becomes profit. This is best if easily tracked on a shorter term basis, ie. weekly. If a company is not operating at break even, every day that goes by is losing money.
The larger the gap, the tighter it makes the cash flow. If a business is collecting receivables in 80 days and paying vendors in 40, that’s a wide gap The outsourced CFO will take action by encouraging the company to follow up on and bring down receivable accounts to 45 days, while stretching their vendors to perhaps 40+ days.
Understanding the implications of your profit margins is grossly underestimated in companies. Only an skilled & experienced “Financial Pundit” can calculate and help you understand the significance of the numbers.
Budgeting, planning and forecasting is a three-step process for determining and detailing an organization's long- and short-term financial goals. The process is usually managed by an organization's finance department under the ownership of Chief Financial Officer who is also responsible to analyze factors responsible for its variance with the plan. guidance
There are two broad categories of financing available to businesses: debt and equity. Figuring out which avenue is right for your business can be confusing, and both comes with a set of pros and cons depending upon firms existing balance sheet structure. Outsourced CFO recommends the optimal avenue best in the prevailing scenario.
Internal controls are the policies and procedures that a business puts into place in order to protect its assets, ensure its accounting data is correct, maximize the efficiency of its operation and promote an atmosphere of compliance among its employees.
Key performance indicators (KPIs) are ways to periodically assess the performances of business units, and their divisions, departments and employees. KPIs are most commonly defined by outsourced CFO in a way that is understandable, meaningful, and measurable.
Outsourced CFO help you define your personal NET-WORTH statement. The combination of what you own i.e. your assets and what you owe i.e. your liabilities makes up your personal net worth. CFO explains why it is important to know what is your personal net worth periodically. Net worth is probably the single most important measure of your personal wealth.
Unlike person Net-worth, Business Net worth or Business valuation can be done using many approaches. Every business should have on paper a business valuation, which is updated every year end by outsourced CFO. Like a current resume, a current business valuation allows firm to take advantage of opportunities, protect your family in case something happens to you, and allow you to move quickly when you are ready to sell your business.
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