CFO Advisor
The Big Boom of AI and Its Impact on Accounting, Finance, and Business
Some experts suggest we buckle up because artificial intelligence (AI) is about to shake the accounting profession. They predict that in the next decade AI will automate many of the most repetitive processes in accounting such as data entry and reconciliations. What does this mean for the profession and what opportunities could business teams seize?…
Read More5 Lessons Learned from Recent Bank Failures
First Republic Bank made headlines on May 1, 2023, when California regulators stepped in to take over the bank after a private rescue fell through. Regulators struck a deal for JP Morgan to take on First Republic’s $92 billion in deposits. The FDIC will share losses with JP Morgan on its loans, averting a massive…
Read MoreAre you a Finder, Minder or Grinder?
Being at the top can be lonely, especially when the urgent issues of the day are competing for your attention. Do you feel you have limited time to focus fully on the vital strategic issues that impact the company’s performance and future? Those business leaders who struggle with safely delegating tasks or relinquishing decisions to…
Read MoreReady for a Business Sale? Steps to Build Your Advisory Team
As a business owner, you have worked tirelessly to get your company to a point where it can be sold. Naturally, selling is understandably an emotional and complex undertaking. According to a study by the US Chamber of Commerce, just 20% of companies put up for sale are ultimately sold, meaning that four out of…
Read More10 Financial Metrics Every Business Owner Should Monitor
Regardless of the size, age, or industry, all companies need to consistently monitor their financial performance. Long-term success and goal achievement greatly depends on generating revenue and managing your financial metrics. Having trackable metrics with benchmarks ensures healthy business performance. By tracking and monitoring specific financial metrics over time, the business owner can gauge cash…
Read MoreBusiness Owner’s Guide to Effective Scenario Planning
Imagine turning uncertain situations in your business into favorable outcomes? Easier said than done. However, this is where the importance of scenario planning and “what if” modeling can help businesses thrive in the face of uncertainty. By testing the impact of various strategic options being considered, your company can stay ahead of the curve and…
Read More5 Types of Growth Your Business Should Avoid
Perhaps the headline of this article has surprised you—and that in itself is not too surprising. More often than not, growth is taught to be equivalent with success, profits and progress. A growing business is what most CEOs and small business owners dream of, but what isn’t talked about enough is that there is such…
Read MoreCash Flow Management Tips for Uncertain Times
Whether it was navigating the new normal to handling the Great Resignation to today’s supply chain, inflation and potential recession challenges, companies have been facing a time where managing cash flow is more important than ever. Between increased costs and lowered sales, some businesses will find themselves low on cash, perhaps to the point of…
Read MoreSeven Strategies to Offset Supply Chain Disruptions
If concerns over labor availability, supply chain disruptions, reduced availability of materials, and soaring costs are impacting your business, you are not alone. We’ve all been living through the greatest workplace and supply chain disruption in generations. The unprecedented times brought shortages in company warehouses, unstocked shelves in supermarkets and difficulty finding consistent delivery drivers.…
Read More8 Strategies to Weather Inflationary Times in Your Business
You don’t have to turn the news on twice to know we are currently on a road of high prices, supply chain reduction and a tight labor market. “Prices rose 7.5% in January compared to the year prior, according to the most recent Consumer Price Index (CPI) report,” Forbes reported just last month. “This is…
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