Fractional CFO Proposal

OUR GOALS:

To provide financial executive leadership and management in alignment & support of your business and your vision of success.

To save the company's partners' time, and to empower them with respect to the company's finances.

To take a pro-active approach toward financial planning, resource allocation, and risk reduction.

To develop appropriate systems & processes, and internal company controls, for

1. Financial plans & strategies to achieve your goals

2. Budgets

3. Forecasts & projections

4. Risk management

5. Overall better business decisions

To foster & facilitate the execution and follow-through on plans & strategies.

 Where to begin:

Start-up planning will begin as soon as this proposal has been agreed to and signed.

VALUE OVERVIEW

Unlock clear financial insights, boost profitability, and achieve your goals - for your business, your family, your investors, your community, and yourselves.

Save valuable time, and enjoy the peace of mind that comes with having efficient and  effective financial accounting systems and processes in place.

We partner with SMEs that need financial expertise and assistance managing their financial operations, but that may not require, or a have the budget for, a full-time CFO.

Our solutions provide you with the financial management, planning, management capabilities that are required to take your business to the next level.  We work on a   contract or part-time basis and do not require a physical presence in your company's office.

As your fractional CFO, we'll contribute consistent and on-going guidance toward your goals.  We'll work with you (and your team) to put together the strategies, execute upon the plans, and make course corrections along the way.  We'll endeavor to ensure your company's resources are allocated efficiently, profitabiity is maximized, and risks are minimized - all in alignment with you and your goals.

SCOPE OF WORK

The Scope of Work includes the following:

 Monthly CFO Report: - A one-hour meeting over Zoom with your key stakeholder(s).  Discussion items may include:  

- Urgent / important issues, updates, or questions 

- Financial health review (includes review of financial dashboard & discussion regarding baselines,  and key / notable trends) 

- Action items & performance review / update 

- Forecasts, budgets, projections, plans, strategy, and / or focus items for the next period

- Insights & input regarding how to interpret the information, opportunities for immediate financial improvement, targets & goals, drivers of the financial key performance indicators (KPI's), action plans, corrective strategies, and more.

Bi-Weekly Check-in Meetings:

- A half-hour meeting over Zoom with your key stakeholder(s) to ask & answer questions back-and-forth, and to stay on top of key tasks & timelines pertaining to important communication and the execution of strategies.

Bookkeeping Oversight & Support :

- We'll assist your Controller and/or Bookkeeper with any questions or concerns regarding general record keeping  practices, and opportunities for systems & process improvements.  We'll also provide consulting and   coaching regarding any number of topics that may arise with respect to keeping your books as accurate,  useful, and audit proof as possible.

If your team do the bookkeeping, then they must complete it up to date at least 3 working days before our main monthly zoom call. This means everything must be reconciled, and appropriate accruals, including sales accruals, cost accruals, and work in progress journals have been made to give an accurate monthly cut off.

Email, Slack, Whatsapp and Text Support:

- We will provide emergency support for you and your team on an ongoing basis.  If any questions arise, we can be  reached by email, slack, whatsapp or SMS for consultation & advise.  If they are time consuming, we will charge extra for our time.

As we collaborate over time with you, your team, and your business, we will guide you with our tried & true program of CFO-driven initiatives to improve your business's financial performance.

VALUE & SERVICE COMPONENTS:

1. General

Develop internal company controls that provide a clear audit trail and prevent fraud

Drive process improvements for efficiency (with technology, best practices, benchmarking, training, and more)

Strategic direction & oversight of your record keeping procedures: this includes monthly reporting, financial tracking, and strategic planning to help you make informed decisions, and to know exactly what you need to do, to get where you want go.

Email, slack, SMS and whatsapp support

2. Monthly CFO report (1 hour meeting over Zoom) - the specific focus items will vary meeting to meeting, but will be mostly strategic in nature, and may include the topics below

Establish financial targets & goals (e.g. revenue, profit, cash flow) for upcoming periods (e.g. one month, one year, five years), in line with your vision of success (personal & business), mission and values

Discuss & review your business's financial dashboard from the previous period.  Trends, baselines, and other key factors will be considered (and input & insight will be provided). 

Discuss & review key drivers of revenue, profit and cash flow, and work on strategies to remove obstacles and optimize success - look at & consider the main functions of the business: operations (management, human resources,roles & responsibilities, linchpin redundancy, productivity, general administration, information technology), sales & marketing (including branding and advertising), accounting & finance (debt eradication, margin health, cash reserves).

Build and maintain management's cash flow forecast (as well as review & discuss budgets,and projections, including if-then scenarios) - project into the future what needs to be done in order to support your targets and goals, and make better decisions.  How will your plans impact your profitability? How much cash will be required, and when?  Can we afford to hire someone?  Should we consider subcontracting instead?  Should we lease or buy?  New or used?  When would be the best time?  Understand in advance what the impact of different decisions will be on your business.

Build & maintain management's detailed profit & loss forecasts - we'll do the homework, and build precise templates for you, populate them based on our discussions with you, and review the details (including estimated vs. actual numbers) with you, and other 3rd parties that you designate, during our meetings.  These templates will be similar to financial statements, and will show up to a year or more worth of monthly projections.  They can be tailored as required.  The numbers will be future estimates (instead of historical numbers, like in the financial statements). This will add clarity and detail to your planning.  The information will be shared with you on Google Sheets and pdf.

Work with key stakeholders to set objectives and course corrections for the next period to ensure goals are met; confirm previous plans have been properly carried out; reassess and make adjustments as required - what needs to be done in order to hit our targets and reach our goals?  Are we on track to hit our targets?  If so, good.  If not, why not?  What needs to be done to correct the situation?  Lay out month-by-month plans to accomplish the milestones and goals.  Include key action times/tasks, task owners and timelines, if applicable.

3. Bi-weekly check-in calls (1/2 hour meeting over Zoom) - these meetings will be to keep communication consistent, but will be more tactical in nature

Catch-up and review meetings to cover key points, questions, and updates that arise in between Monthly CFO report sessions.

4. Bookkeeping support

We'll assist your controller and/or bookkeeper with any questions or concerns regarding general record keeping practices, and opportunities for systems & process improvements.  We'll also provide consulting and coaching regarding any number of topics that may arise with respect to keeping your books as accurate, useful, and audit proof as possible.