We recommend that you weigh these risks as objectively as possible and conduct a thorough analysis of each potential contractor before making a decision to outsource your CFO.
In difficult times, a company needs to focus primarily on cash flow management and monitoring the efficiency of its business units. The key indicators during such periods are net cash flow and profitability. It is important to properly distribute expenses and monitor the break-even point.
Aleftina Gimranova, Financial Director on outsourcing from Consulting Center Profdelo
The path to building a competent financial system begins with diagnostics
It doesn’t matter what stage of development your company is at now – it’s worth conducting a financial health assessment in any case.
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For a competent contractor, it includes four important steps.
Step 1.
At this stage, financiers conduct a thorough review namibia consumer email list of all reports in the company: cash flow (CF), profit and loss (PL), income and expense budget (IEB), and others.
For example, when our specialists conducted an audit of the financial system of one of the Clients, it turned out that the cash flow report did not have a division into types of activities, and, accordingly, the net cash flow was not calculated. The financiers gave recommendations for constructing a correct cash flow report and subsequently brought the form into compliance.
It helped me look at profits differently and see new opportunities for growth.
Audit of the client's information system
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