Cleaner Books + Better Reporting = Stronger Financials
Save time. Control expenses. Reduce risks AND increase your company’s value. Accurate, high quality financial data doesn’t just help you make better business decisions. It also makes your business more valuable to potential investors and buyers, more attractive to lenders, and more efficient in its operations. New Life CFO’s Controller Services give Business Owners and CEO’s the information they need to make meaningful actual-to-budget comparisons, ensure external reporting compliance, prevent losses through enhanced controls and to make sound business decisions, all while reducing time and money spent on accounting duties.
What is an Outsourced Controller?
An effective Controller professionally manages and efficient monthly accounting close that produces timely and accurate financial statements, balance sheet account reconciliations and variance reporting that could yield cost controls, while enhancing internal controls. New Life CFO provides companies with accounting professionals on a part-time basis, helping companies reduce hiring expenses while benefiting from the services of best-in-class Controller personnel and processes.
Why do I need a Controller?
- Are you spending too much time on day-to-day accounting tasks, even if you already have a bookkeeper?
- Does your bookkeeper need assistance in higher level accounting tasks?
- Are you receiving your financial statements after the 15th of each month?
- Are your bank statements and balance sheet account reconciliations up to date?
- Are you concerned about potential losses through accounting errors or fraud?
- Have you been told by a partner, lender, potential buyer, CFO or tax professional that your books are “a mess”?
- Have any of the above scenarios cost your business money?
- If so, your company needs a Controller.
What is the difference between a Controller and a CFO? Do I need both?
Smaller companies may combine the CFO and Controller roles, but for larger firms or firms that wish to grow, both roles are essential. While Controllers are experts in accounting procedures, CFO’s must have a broader skill set that also includes an understanding of operations, strategy, risk management and sales. Another key difference is that, while a Controllers’ work is usually focused on using historic financial information to create report and control expenses, CFO’s concentrate more on the future, creating financial projections and budgets based on business models and key performance metrics, and looking for ways to improve the financial health of the company.
Are Controller Services from New Life CFO a Good Fit for My Business?
If you do need a Controller, the good news is…. You don’t have to hire a full-time staff member to get the support you need. New Life CFO’s Controller Services make it easy to get access to highly skilled Controllers and accounting professionals on a part-time basis.