by Ania Kubicki | Dec 27, 2011 | Archives
AllBusiness.com By: David Worrell Few positions in a company are as easily outsourced as those in the finance department. That’s great news for small companies looking to add strategic skills, and for larger companies looking to cut full-time staffing costs. Outsource the Right Positions You probably already outsource your tax preparation, either corporate or personal or both. Because taxes are generally a once-a-year event, having an expensive accountant on staff year round is usually not cost effective. The same might be true of a chief financial officer, an analyst, a controller, and even a bookkeeper. If you don’t need these people every day, you can easily outsource these positions.The extent to which you outsource your finance department depends on the volume of transactions, the complexity of your finances, and the amount of management information (decision support) you want. Find the Right Firm Firms offering outsourced finance personnel are quite common, from large national firms such as B2B CFO and Tatum to teams of just a few consultants working virtually. Search the terms “fractional CFO ” or “part-time CFO ” to get a good selection. Before bringing on a virtual finance team, be sure you have defined your needs. There is a huge difference between a good accountant and a strategic finance professional. If you have, or will have, a need for more than one role, consider hiring a firm that can provide more than one person on an as-needed basis. Splitting duties between unrelated contractors is likely to cause more confusion than it’s worth. Even a small firm with three to five professionals will be able to provide the skills...
by Ania Kubicki | Dec 8, 2011 | Archives
SOURCE: KPHO-TV Channel 5 (Phoenix, AZ) AUDIENCE: 416,028 DATE: 12/08/2011 HEADLINE: The best holiday gifts for your clients The best holiday gifts for your clients Updated: Dec 5, 2011 04:01 PM EST You probably wouldn’t give everyone in your family the same gift, so why would you choose the same gift for each of your clients? Here’s a trending story from Inc.com – featuring B2B CFO Partner Wendy Nelson. By: Marla Tabaka With the economy still in recovery, many small business owners are trying to decide whether they should give gifts to clients, what they should buy, and when they should send the gift so it stands out above the rest. Sometimes a simple, yet personalized, card is an appropriate solution to your budget woes. If you have a little more money to spend there is always the standard gift basket. But is “standard” really good enough for your best customers? “When choosing a holiday gift for clients, it is important to be thoughtful,” says Laurence Briggs, president and CEO of Republic of Texas Company Store. “When customers use our corporate gifting concierge service to add personalized touches to gifts, we always ask them to give us more information about their client. What holiday do they celebrate? What are their hobbies and interests? What is their industry?” Briggs reminds us that it is important to show your clients that you care by paying attention to the details. “You would be surprised to learn how many people who celebrate Hanukkah receive Christmas cards from their clients,” he says. That’s certainly not a good way to demonstrate your attention of detail...
by Ania Kubicki | Oct 30, 2011 | Archives
The company’s upcoming 25th anniversary and a recent string of awards are solid validation of the pioneering concept on which Jerry Mills, founder and chief executive officer of Phoenix-based B2B CFO, founded his company. By Alison Stanton| October 31, 2011 The company’s upcoming 25th anniversary and a recent string of awards are solid validation of the pioneering concept on which Jerry Mills, founder and chief executive officer of Phoenix-based B2B CFO, founded his company. Back in the mid-1980s, while he was a manager with Arthur Andersen & Company, Mills came up with the idea of creating a company that would provide CFO services to small and mid-market companies, offering business owners solutions that would help improve any cash flow issues as well as the overall organization of the company. To support his theories, Mills developed a model of micro- and macro-economics that looked at the concept of “typical consulting” as it related to the point of diminishing marginal returns. His idea was to help alleviate the stress levels of business owners while simultaneously improving their sales and profits through the services of a part-time CFO. But when he pitched the concept of CFO services to his co-workers, he recalls, they weren’t as excited about it as he was. “It just wasn’t what they did at Arthur Andersen,” Mills says. “They concentrated mainly on audits and tax returns, and so this just didn’t fit in with the type of work that they did.” Undaunted, Mills decided to launch his own company based on his theories and research. “I thought it was a great idea, so I did it solely on...
by Ania Kubicki | Oct 11, 2011 | Archives
Demand grows for temp finance chiefs who can jump in to help companies through reorganizations and turnarounds. -BY RUSS BANHAM Lisa Donahue is not your usual CFO. Although her career includes finance chief positions at sportswear manufacturer Umbro, energy producer Calpine and battery maker Exide Technologies, none of these companies paid Donahue’s salary. Rather, her compensation came from Alix Partners, a firm that helps companies through operational reorganizations and corporate turnarounds. Donahue is an interim CFO at the companies she serves, a role she is presently filling at Boston-based Atlantic Power, a publicly traded power producer. A cottage industry of CFO providers has emerged in the last 20 years, spurred initially by the failed leveraged buyouts of the mid-8os and more recently by increased competition brought on by globalization. Each of the firms involved, including Alix Partners, Tatum, Cerius, B2B CFO, TechCFO and several others, has its own value...
by Ania Kubicki | Oct 4, 2011 | Archives
As part of its Chamber EDucation program, the North Lake Tahoe Chamber of Commerce in partnership with the Sierra Economic Development Corporation is hosting a “Thinking of Selling Your Business” workshop Oct. 12 from noon-1:30pm at Mourelatos Lakeshore Resort, 6834 North Lake Tahoe Blvd., Tahoe Vista. Deadline to register is Oct. 7. This workshop is designed for those thinking of taking the leap and selling their business or perhaps have received an offer they can’t refuse. Attendees will learn about the planning, preparation, communications and execution when selling their business that will lead to a positive, profitable life transition. The presenter is David Frazier, a partner at B2B CFO, the largest financial consulting firm in the country with 184 partners in 39 states. Prior to B2B CFO, Frazier spent more than 25 years in various executive positions in finance and operations at large publicly traded companies. The cost is $55/person, and participants need to bring their own lunch. To register, call the Sierra Economic Development Corporation at (530) 823.4703 or...