Fractional CFO
CFO Services
We are a financial resource for business owners looking to take their business to the next level, improve current financial strategies or bridge the gap before you need a full-time CFO and the costs that come with that.
Strategic Business Plan Development & Execution
CFO Central works with business owners, managers, and in-house financial professionals to develop achievable financial strategies that are intended to take a business to the next level; be that somewhere in the distant future or just over the horizon. We are skilled at plotting a plan that will achieve your financial goals that are necessary to grow your business. We will work side by side with you to execute, adhere to and realize a sound, practical plan. We will be there to help you make any adjustments along the way.
Fractional CFO
A Fractional CFO is an experienced chief financial officer who provides financial management and analysis services to businesses in a part-time, retainer or contract arrangement. Ideally, a company hires a Fractional CFO when deciding to move their organization to a new level of operations therefore necessitating the need for enhanced financial oversight. Rather than incur the additional cost of an internal CFO, I.e. salary, benefits and bonuses, a company often opts for an off-site CFO partnership.
Cost Accounting & Pricing/Estimating Services
CFO Central often approaches business owners with the following inquiries:
- Are you confident that all of your businesses’ direct costs are accounted for?
- Are you unsure if your business charges the right price for its product(s) and/or service(s)?
- Is your business challenged in bid or RFQ situations?
CFO Central has the resources to acquire the information needed for your business to become price competitive in its market.
Our pricing strategy helped one client go from $22 million in revenue to $50 million in revenue in 7 years.
CFO Central can develop an estimating or costing system from the ground floor, or validate the existing rates and programs currently in place. We can make recommendations or implement changes so you never lose a bid again due to an inaccurate system.
Financial Reporting & Analysis
From daily, weekly, or monthly management reports to full annual financial packages, CFO Central will prepare and distribute timely financial information to all of your key stakeholders. Financial packages include, but are not limited to:
- Profit & Loss Statements
- Balance Sheet
- Cash Flow Statements
- Costing Reports
- Management Discussion Reports
We also can develop monthly and/or annual budgets or goals. This can be for your entire organization or broken down by smaller departments. Once budgets are developed we then provide actual vs budget reporting on a monthly or annual basis. These reports allow management to see which areas need improvement, as well as where your strengths are.
Key Performance Indicators (KPI’s) are another service we offer. We will develop and analyze the measurements most important to your business. Having a scorecard specific to each member of your management team helps develop a culture of continuous improvement and teamwork.
Accounting/Bookkeeper
CFO Central is more than an accounting/bookkeeping house, however we do provide temporary staffing solutions if your company has recently experienced a temporary gap in its accounting department. CFO Central can provide temporary services in Accounts Payable, Invoicing, Cash Receipts, Bank Reconciliation, Journal Entries. We can fill in the gaps, and you may just decide to keep us on board!
Exit Strategy Planning
Are you planning to sell your business in the next few years? CFO Central can put together a plan to help you navigate the sale of your business for its maximum value.
Staff Training & Mentoring
In addition to stepping in as described above, CFO Central can assist in the leveling up of new accounting employees. Rather than relying on other staff or management to dedicate valuable time to the training and orientation of new financial services employees, let CFO Central assist in getting new hires up to speed.
ERP and Accounting System Support & Implementation
Whether you are looking to install your company’s first ERP system, or you’d like help optimizing your existing system, CFO Central can help with that. Our knowledge with these systems can help you:
- Streamline Business Processes
- Enhance Data Accuracy & Integrity
- Provide Real Time Visibility and Reporting
- Improved Cost Control and Efficiency
- Compliance & Security
Internal Control Development & Testing
Looking to increase your financial controls to prevent loss from internal/external sources.
© 2023 CFO Central | 605-254-7245 | info@cfocentralsd.com | 6045 S Louise Ave Suite 202, Sioux Falls, SD 57108 | Powered by Complete Media, Inc.
CFO Central is a Sioux Falls, SD based financial resource for business owners looking to take their business to the next level, improve current financial strategies or companies looking to shift towards a CFO solution.
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