Providing CFO services and Business Transition Services in Dallas/Fort Worth, TX and surrounding areas

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[/wptabcontent][wptabtitle]About Bruce[/wptabtitle] [wptabcontent]

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[b2bcfo_profile field=”city”], [b2bcfo_profile field=”state”] CFO

[b2bcfo_profile field=”experience”] Years of Experience

Direct Contact

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Universities:

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Certificates & Licenses:

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Organizations:

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Contact Bruce Benes and receive a free Discovery Analysis™

  • A confidential meeting with the business owner(s), then interview company staff.
  • Look at the company’s financial information and computer systems.
  • Benchmark financial information against industry averages.
  • Create a confidential report of our findings in The Strategy Gameplan™







Bruce’s Bio

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[/wptabcontent][wptabtitle]Contact Bruce (817) 729-0688[/wptabtitle] [wptabcontent][contact-form-7 id=”161″ title=”Contact Mark Johnson”][/wptabcontent]

[wptabtitle]Who Needs a CFO?[/wptabtitle] [wptabcontent]

Every Company Needs a CFO

Companies without a Chief Financial Officer are at a competitive disadvantage.  It’s not unusual for small to mid-sized firms to have sophisticated operations and complex cost and financial challenges like large companies.  This often means that the CEO or the owner of the business needs the expertise of a senior financial executive.As an owner or CEO of a company, have you ever wondered how to solve the problems you’re facing?  Have you ever spoken with another owner and come to the conclusion that what you really need is the advice of a CFO . . . but knew that you either didn’t need a CFO on a full-time basis or couldn’t afford the cost of a full-time CFO?  Did you then decide to give up on finding the advice you need?You are not alone.

And, you are perhaps doing what many owners do . . . you try to figure it out yourself.  Let’s be honest, however-are you really the right person to do that?  Do you have the background or expertise to prepare financial statements, or even truly understand them?  And is your digging into these areas even a good use of your time?  As the owner, you need to be the visionary, focusing on the future-and you are the one who should be spending more time with your customers.Using your time to develop financial information or analyzing your cash balance and future needs is something that someone else should be doing.  What you need is the assistance of a high level financial professional.  Outsourcing this function is an alternative to hiring another employee (with all of the costs, like salary, payroll taxes, and fringe benefits).

ADVANTAGES OF OUTSOURCING CFOs

Better financial information for key decision-making.

It’s a fact:  most small to mid-sized businesses either don’t prepare financial statements, or they are not reliable.  Another fact:  you simply cannot make important business decisions while relying on bad, inaccurate, or incomplete information.  If you have found yourself frustrated with the lack of information from your bookkeeper or controller, chances are the information they are giving you is of questionable value.  You cannot effectively run a business in that situation.

More time to spend with customers.

To be competitive, you need to spend most of your time with current and prospective customers.  Particularly today, you need to be with your customers as much as possible.  Just as you are trying to get new customers, your competitors are trying to meet with your customers.  You simply need to be spending the majority of your time with them.

More money from the bank and from vendors.

Bankers and vendors are more sophisticated than ever.  With the current financial situation affecting all businesses, they are more skittish about lending to anyone other than the largest and safest companies.  And they require regular, reliable financial statements.  The financial statements must look professional, follow accepted accounting principles, and highlight the company’s key ratios. A CFO working with you on a part-time basis can improve your company’s external “image” and assist you with opening doors to banks and obtaining better vendor terms.

Other advantages to having an outsourced CFO  include:

  • A sounding board for the owner in making key decisions
  • Fewer cash flow surprises
  • Better trained accounting staff
  • A theft deterrent
  • Better documentation and controls
  • Fewer surprises relating to tax payments
  • Solutions to company problems

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