A CFO or “Chief Financial Officer” manages the financial deliverables for a company, including financial planning, cash flow tracking, and financial analysis. Availing of MoneyPenny’s Back Office CFO services, together with outsourced accounting and bookkeeping, ensures your business is always on the right track financially without incurring salary costs.
Back Office CFO services ensure that your company’s financial needs are met. By trusting a dedicated expert, your outsourced CFO learns what is needed to generate more profit and find opportunities for your business to grow. Other benefits include:
A Cash Flow forecast will be the most common reference used by your CFO. It helps your team understand what could possibly happen to your cash flow in the future based on decisions made by the management in the present time.
Once a plan has been put in place, it is important to always track whether or not things are going according to how they’re supposed to. Your CFO is there to help keep your budget in place and analyze your company’s performance against the budget.
Knowing the break-even points of your business is crucial. A business’ sales and production teams must always know how much work they would need to put in to keep generating income. Although every business faces tough times, it is important to learn about your break-even analysis and your CFO can help you do just that.
At times, labor costs end up being a company’s biggest downfall. It could either be that they overhired, or they are low on staff, which ultimately affects the business they run. In a staff-heavy organization, it is important to keep track of payroll costs and whether or not these translate to efficient operations in a company.
Labor Cost Management allows you to study whether labor costs are up to par with how the company is currently doing, and allows you to study whether or not someone should be given a raise, or if something needs to be cut down.
In a business, fixed costs are inevitable. However, there are variable expenses that fluctuate when doing work. Your CFO will help you identify which of these variable expenses you could do without so as to maximize your profit.
If you’re looking for ways to reduce costs and focus on your customers, outsourcing your accounting and bookkeeping needs is the answer you are looking for. Contact MoneyPenny at (307) 215-5982 for more information.
We use our expertise as a driver for continual improvement. Our certified processes underpin the work the business undertakes to ensure our services meet or exceed the needs and expectations of our customers.