B2B CFO Has Record Growth

B2B CFO Has Record Growth

SOURCE: TRI-COUNTY BUSINESS JOURNAL AUDIENCE: 7,000 DATE: 12/29/2011 HEADLINE: B2B CFO has record growth, 200 partners B2B CFO has record growth, 200 partners B2B CFO’s record growth is pushing the firm to become the world’s largest CFO services firm with more than 200 partners, including Ron Baker, CPA. MBA. serving in the tri-county area.  B2B CFO has presence across 39 states and more than 800 clients across North America. B2B CFO surpassed the 200 Partner mark in...
How to Outsource Your Finance Department

How to Outsource Your Finance Department

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...
Best Gifts for Your Clients

Best Gifts for Your Clients

B2B CFO  partner Wendy Nelson shares tips about gifts that may be tax-deductible. SOURCE: Inc.com DATE: 12/06/2011 HEADLINE: To Gift or Not to Gift? Are you trying to play Santa on an elf’s cash-flow? Make your client gifts stand out this holiday season, regardless of budget. 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 and appreciation of a client. But not everyone can afford a corporate gifting concierge and high-end gifts. If you don’t have a budget for holiday gifts,...
Jerry Mills: Breakthrough CFO Model

Jerry Mills: Breakthrough CFO Model

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...
CFO PINCH HITTERS

CFO PINCH HITTERS

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...