Setting Up A Scalable Finance Function Beyond the Kitchen Table

< 1 min read

Services: CFO/Advisory

Our web app developer client started his company– like most companies do– at the kitchen table or, in his case, his garage. When the company grew, however, the finance and accounting processes got left in the garage. Despite having a multi-million dollar business, the founder was handling the bookkeeping himself and managing cash flow via spreadsheets and an online tool. He scrambled to produce financials when requested by outside parties and didn’t have a budget in place to monitor his progress against his goals. He was quickly outgrowing his current process. We stepped in as CFO, where we coached and trained an in-house bookkeeper. We helped convert his accounting system to one that would produce accurate job costing records and yielded product line profitability. We also restructured his financials to give him insights and allow him to scale. Lastly, we developed a budget, set monthly closing schedules, created regular reporting with dashboards of KPIs, and meet at least monthly for financial reviews and strategy sessions.

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