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Testimonial - Electric Metal Fab Inc. - Apr 22, 2011

Posted by: Kenneth J. Knapik in Testimonials

Ken, I wanted to personally say thank you so very much for all the hard work and efforts you have put into helping me this past year. Your help is so appreciated. I am so thankful that I was referred to you and that you have always been so willing to help & assist me with my business and you have always been sincere and heartfelt. I appreciate you so very much. This bonding was a challenge and you jumped right in to help me, I just want to say thank you again. Have a great evening, Ken. J Thank you, Mandy Chittum President Electric Metal Fab, Inc.
www.electricmetalfab.com

Indianapolis Star Article - Mar 8, 2009

Posted by: Kenneth J. Knapik in Articles

B2B CFO, others offer part-time expertise to help smaller businesses cut costs, get bigger
By Ashley Petry - Star Correspondent

FISCAL FITNESS: Steve Soule (left), chief executive of Indianapolis-based CMR Construction Roofing, hired B2B CFO's Ken Knapik to improve his accounting, evaluate profitability develop forecasting procedures.

When a former corporate executive ponders buying a franchise, it's usually a restaurant or retail store. But Ken Knapik, who has more than 20 years of experience as a chief financial officer, bought into a different concept – a nationwide network of part-time CFOs.

In April, Knapik became the Indiana partner for B2B CFO, a Phoenix-based company that offers CFO-level services on an hourly or daily basis.

Part-time CFO services, such as B2B CFO, let companies get the help they need without paying the salary and benefits of a full-time CFO. The concept is increasingly popular as businesses seek new ways to cut costs in a shaky economy.

"We operate on the assumption that better (financial) information creates a competitive advantage," said Knapik.

Knapik, who served as CFO at several local privately held companies such as Wood-Mizer Products and Central Indiana Hardware, already is working with five Indiana clients. They include manufacturers, a trucking company and a farm-based food company. His focus is on emerging and growing companies with up to $60 million in annual revenue.

One such client is CMR Construction & Roofing, a rapidly growing $35 million construction company with about 30 administrative staff and 65 contractor sales representatives.

HOURLY EXPERTISE: Ken Knapik (right), a Carmel resident who is now the Indiana partner for Phoenix-based B2B CFO, draws on more than two decades in financial management to help clients such as Steve Soule.

Founded in St. Louis in 2002, CMR was ranked by Inc. magazine in 2007 as the 30th-fastest-growing privately owned company in the nation.

Owner Steve Soule moved CMR to Indianapolis in 2006 to serve customers hurt by a big hailstorm that hit the metro area that spring and to be closer to eastern markets.

The growth was good news for Soule, but it also meant he increasingly was bogged down in administrative tasks, such as accounting overhauls, financing requests and budgeting issues. Soule knew he needed a team member with financial expertise, but he also knew the company wasn't ready for a full-time CFO.

It was the perfect fit for Knapik, who is helping improve CMR's accounting infrastructure, developing forecasting procedures, establishing lines of credit and evaluating the profitability of its various business lines.

"He's helping take the blindfold off of some aspects of our business," Soule said.

Soule said he expects Knapik's services to have an impact on the bottom line as CMR establishes better budgeting procedures and obtains the financing it needs to get volume discounts on materials and equipment.

"There's a market for these types of services for a reason, and that is that for the right type of business, they provide good return on investment," said Cameron Carter, vice president of small business and economic development for the Indiana Chamber of Commerce.

"You have access to people with a lot more experience than what you could normally afford."

B2B CFO was founded in 1987 by Arizona accountant Jerry L. Mills. It operated as a one-man shop until a few years ago, but it has grown to include 90 partners, who assist about 400 clients in 42 states.

The biggest hurdle for a company's clients occurs when the owner starts spending too much time handling administrative tasks, Mills said.

"Our job is to unchain the business owners and let them do…the things they're good at doing," he said.

B2B CFO partners don't replace their clients' accountants because they don't handle payroll, bookkeeping or taxes.

In contrast, other local financial consulting companies have begun to offer a wider range of services to meet clients' needs.

Milestone Advisors, for example, provides financial services to companies from the startup phase to about $25 million in annual revenue.

The Northeast side company at first offered only CFO-level services, such as management accounting and corporate finance. It since has expanded to include advice on marketing and strategic planning, as well as lower-level services such as bookkeeping.

"What we've found is that our clients like having . . . access to the full range of services they're going to need," said Tom Gabbert, a managing director. Gabbert and Glenn Dun....

Testimonial - Dillman Farm Inc. - Sep 16, 2008

Posted by: Kenneth J. Knapik in Testimonials

"Ken came in and saved our business. He helped us with a presentation to our bank and helped us get a handle on our costs and pricing structure. Ken gave us the confidence to service markets we previously were not in. Thank God for Ken Knapik and B2B CFO!"