PROBLEM: Bad information leads to bad and potentially costly business decisions. In order to make sound business decisions at critical times companies need reliable and current financial information that informs the analysis and ultimately the decision making process. The vast majority of small companies do not have such information readily and regularly at their fingertips. Tight financial controls with books of account that are maintained daily put a business owner in the best possible position to succeed and indeed excel, gaining advantage over the competition. The absence of financial controls and well-run accounting systems are at the root of many business failures and likely most business under-performance issues. Since most business owners are not experienced formally trained accountants, they lack the insight to know the difference between competent and incompetent accounting staff.
For companies that have successfully developed solid controls and reliable accounting, often the CFO function is missing. High Level CFO’s can demand salaries beginning in the low $200’s. Understandably, most closely held businesses struggle to staff the accounting function at less than half that number. Yet the financial and business strategy offered by Business CFO’s can be invaluable in helping companies chart their strategic course and achieve their long-term goals.
HOW WE HELP: By outsourcing this critical accounting and finance function, F2 Analytics takes a comprehensive approach to providing a competent and valuable partner to the business owners. F2 Analytics and its specialized professional staff dedicate their focus to your accounting and finance function to provide innumerable advantages for your company:
1. Business leadership is informed with timely and reliable financial information about the company
2. Leadership avoids the need to be personally involved in the time consuming and distracting minutia
3. Leadership gains more time to engage in the tasks that grow the company and move it forward
4. The accounting function is supervised by professionals with decades of experience in accounting and finance
5. The work product is produced much faster than is typically possible with in-house staff
6. Principles of F2 consult with the business owner at the CFO level contributing to better strategy and planning
7. The total cost for the accounting work is usually less than the cost of one full-time employee
It simply makes more sense for most closely held small businesses to completely outsource the accounting function. The benefits far outweigh the cost of attempting to maintain one’s own in-house accounting function.