B2B CFO is pleased to announce its expansion in Kentucky with the addition of Patrick Cowan as the firm’s newest partner near Louisville. Cowan is joining B2B CFO after a 27-year successful corporate career in finance. He joins four other B2B CFO Partners in Kentucky who currently provide CFO services to local business owners.
With close to 200 partners across the country, B2B CFO, is the nation’s largest CFO for hire firm. The part-time/as-needed CFO role is a hallmark of firm that provides services exclusively to emerging and mid-market companies. Cowan joined B2B CFO as a partner in February. Cowan’s clients will benefit from his combination of executive finance and consulting experience supported by the depth of resources provided by the national firm.
Prior to joining B2B CFO, Cowan served in several financial oriented positions including CFO, Divisional Controller, Controller and VP of Finance for small to medium sized companies. Cowan has also been instrumental in the analysis and design of reporting systems, the implementation of processes and procedures to provide owners and managers the information they need to improve their businesses profitability. Cowan works with business owners to ensure their strategy includes a plan for generating cash. Cowan’s hands on approach has allowed him to be to the driving force behind triple digit revenue growth in one business and a multi-million dollar inventory reduction in another. In both cases the profit improvement was significant.
“We welcome Patrick to the B2B CFO Partnership. In many ways he represents a snapshot of the organization: business experience and an entrepreneurial outlook, with deep roots in finance and strong connections in the community,” said Jerry L. Mills, founder of B2B CFO.
In his role as B2B CFO Partner, Cowan offers business owners of privately held growth-oriented businesses the opportunity to have an affordable trusted business advisor. Unlike a contract controller or interim CFO, a B2B CFO Partner works to create a long-term professional relationship to help the company grow its profitability and cash flow.
The economic environment for small businesses in Kentucky, as in the rest of the country, has proven challenging but things seem to be on their way back up. According to a recent survey conducted by the Wall Street Journal economists around the country predict quarterly growth in 2011 to surpass 3.2 percent.
“The state of the economy has been particularly hard on small businesses. In many cases they do not have the expertise in their company to overcome the resulting assault that comes at their business in the form of poor cash flow, falling revenues and profits as well as the necessity to make decisions that they are not prepared for,” Said Cowan. “I use my experience, as well as over 5,000 years of combined experience of my partners, to provide them with that expertise. I believe in our slogan of “Every company, regardless of its size, needs a Chief Financial Officer”.
For the business owner, Cowan draws on his broad industry experience in finance budgeting, cost management, acquisition planning, contract negotiations and cash management. His considerable experience in these areas enables Cowan identify the value drivers for a business, and implement strategies to increase value and to work with the business owner to develop a successful business strategy.
Cowan holds a Bachelor of Science in both Management and Accounting from Southeastern Oklahoma State University. Cowan is a native of California with career stops in Texas, Oklahoma, Arizona. He and his wife Billie now reside in Kentucky. In his spare time he enjoys spending time with family, golfing and fishing.
