B2B CFO^®    (877) 4-B2B CFO

Many small and mid-sized companies have basic accounting systems. They have a book-keeper, maybe a Controller. They have an accounting system - probably QuickBooks, or possibly a more advanced product. What they usually don’t have  - and what for many is a major weakness - is a coordinated Financial Process.  Jim Collins, entrepreneurial author and guru, says there are plenty of great mousetraps but not very many great processes and that's where entrepreneurs should focus. The better process will enable others to build better mousetraps.

A B2B CFO can help you build such a process for financial excellence.  Here are the ten key steps to taking financial control of your company.

• Key Metrics - Select some key performance indicators and report daily, weekly and monthly
• Cash Flow Forecast - A weekly forecast of cash will create a strong control discipline and enable you to look forward at least a month.
•  Timely Financial Statements - Accurate and timely financial statements are essential for managing results
•  Financial Analysis - Carry out a monthly comparative review of financial and other indicators
•  Commentary - Prepare a monthly operations overview with suggestion for improvement and strategic development
•  Monthly Ops Meeting - Chair a monthly meeting on the financial performance, impact on strategy and implications for change
•  Financial Planning - Develop budgets, plans and rolling forecast to manage desired activities
•  Cash Management - Build relationships with banks and investors to ensure company cash flow plan materializes Financial Control - Implement process and procedures to deter fraud, improve efficiency and maintain confidence in results
• Financial Systems - Implement and tune best current systems and staff to improve and maintain information flow

To get started on Financial Insight, call David Kirkup, Partner at B2B CFO on 404 348 0326 or dkirkup@b2bcfo.com.