Budgeting: Begin with the end in mind.
Backwards Budgeting may sound like an odd approach, but at CFOSP we begin with the end in mind. We often hear CEOs admit that they do not have annual budgets in place. The reasoning is always the same; “It’s a laborious process and I don’t see value. After all the time and effort put into […]
read morePersonal Time Off: Where do you stand?
When it comes to the holidays, we’re apparently most thankful for Thanksgiving and Christmas. They were the most common automatic days off, according to our recent CFO Strategic Partners survey. Professional staff is also rewarded with more time off. Looking for an average amount of time to offer? 3 weeks is the sweet spot. But […]
read moreCEOs Need to Look at Budgeting Differently: It is Your Job to Think Big Picture
Many CEOs detest the budget process, and some think it’s a complete waste of time. But with the fourth quarter underway in the 2018 budget process, it might be time for an attitude adjustment — or in business terms, a paradigm shift about how you think about budgeting. We are not here today to talk […]
read moreDo you have unrealized profit in your company?
Companies are often focused on improving their bottom lines and with good reason—it directly relates to increasing profits. It is often overlooked the impact a few tweaks can have on profit and the even larger impact it can have on a company’s sustained value. It’s important to work hard AND be smart about your efforts […]
read moreWith uncertain times, it’s never too early to start planning your taxes
With uncertain times in Washington and wrangling over the president tax proposal, it’s still never too early to start planning for taxes. In fact, this year it may take even more planning because of the need for modeling on several different alternatives. Summer is the perfect time to start tax planning. We’re halfway through 2017, […]
read moreAre you offering clients 0% payment terms without even realizing it? Our three-part series can help stop the insanity.
Days Sales Outstanding: Be responsive to everyone’s differences Analyzing different areas of your accounts receivable functions is extremely important when ensuring your payment plans don’t have any problems. Checking your credit approval process (here) and your collections process (here) can help set how consistent clients are with payments. Now, we’ll be covering Days Sales Outstanding […]
read moreAre you offering clients 0% payment terms without even realizing it? Our three-part series can help stop the insanity.
Analyze your collections process: To prosper, be proactive! Most middle market size companies allow their customers to treat them like a bank that is offering 0% interest rate terms. Analyzing your credit approval process (described here) is the first step to fixing your payment terms. Now, you’ll need to analyze your collections process […]
read moreAre you offering clients 0% payment terms without even realizing it? Our three-part series can help stop the insanity.
Stop being your client’s bank: Set a credit approval process You’re not a credit card company desperate for new customers, stop acting like one. Many of you may recall the days where credit card companies were offering 0% interest for 6 months. Those days are long gone….RIGHT? Well, it turns out that most middle-market […]
read moreFinancial Projections: Is a Surprise Around the Corner?
We have all done it. Reveling in that nice feeling of accomplishment after creating a great budget from a detailed analysis… only to have it blown within the first month of the new year. Can we avoid these unexpected curve balls? It is not likely that we can avoid them all together, but there are […]
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