Do you need a CFO to drive financial performance, but the cost of a CFO is a “deal-breaker”?
What does a Fractional Chief Financial Officer (CFO) do?
We offer several levels of engagement depending on your needs.
Diagnostic Services
Unsure if you really need a CFO, start here to understand how you’re really doing.
Our suite of diagnostic services is designed to give you quick, valuable insight with corrective measures with no long-term commitment. So, go ahead, stick your toe in the water, you may not actually need to swim 100 laps.
- Accounting Wellness Assessment and Plan of Action
- Benchmark Analysis – How do you really compare to your industry and where are the opportunities to be best in class.
- KPI Builder – Identify and educate your team on your key metrics for driving EBITDA and targeted performance for each metric
- Banker Vision (or Investor) – Looking to secure a new or expanded loan but nervous about meeting with the banker? We’ll examine your business through the eyes of a banker identify Loan Approval strengths, weaknesses and corrective actions. We’ll also give you talking points and responses to anticipated questions. If you like, we will be your “Wing Man” at the meeting.
- 36-month Financial Diagnostic Assessment
A three-year comprehensive financial analysis of your company performance examining
your profit drivers, liquidity, cash flow, key metrics. You’ll also see a comparison to benchmark data of similar companies, budgets, and banking financial standards, and receive corrective plans of action to implement ASAP.
- Exit strategy readiness and optimization
- Capital Stress Test – Do you have enough to grow the business
From here you can determine if your needs are met, or need additional assistance in guiding your business.
3 Levels of Fractional CFO Services
The Coach Engagement: Monitor | Guide | Advise
For a fraction of the cost of an A/P Clerk, you will have a Seasoned Fractional CFO to:
MONITOR – Your Performance
GUIDE – Your Team to Optimize the Future
ADVISE – You on New Challenges & Opportunities
An ideal CFO “starter service”, you’ll get a thorough financial diagnostic and meet monthly, one-on-one with your CFO to review your monthly results and answer your most important financial questions. You’ll get the insights you need to build plans that improve all levels of your company’s performance and prioritizing what actions will deliver the biggest results.
Sleepless nights or anxious days?
Your CFO Coach is on call to field these questions, vet the situation and get you back on track.
We scale this to meet your basic needs with our involvement ranging from 3-8 hours per month.
“Trusted, knowledgeable, and results oriented. You can count on New Life CFO to provide your organization with real facts to make real business decisions.”
-Michael Hall, Business Owner & Executive Advisor
The Management Engagement: A Full Financial Partner to Help You Drive the Performance you Know is Possible
These services build upon what we do in the CFO Coach services.
This Fractional CFO engagement teaches your people how to make money. At this level we’re not only defining the opportunities, but we are also rolling up our sleeves to make it happen. We become a part of the leadership team to help every function vet their opportunities and define the best outcomes. Not only do you sleep better, but now your whole leadership team will as well.
Your Fractional CFO provides weekly support and hands-on, monthly reporting and analytics for your leadership team, accountability planning & forecasting, cash management, relationship liaising with bankers and insurance brokers, oversight of key accounting functions, as well as oversight. Lastly, we implement our analytical engine and suite of dashboards to transform your stacks of spreadsheet printouts into trends and relationships so cause and effect within your business can be readily understood.
- CFO monthly financial summit with leadership team
- Action plan, timelines and commitments
- Access to CFO for one-on-one meetings, calls and touch points
- Leadership at meetings with bankers, investors, benefit brokers, board members and insurance agents
- Technology optimization
- Reporting and dashboards that are easy to understand, timely and impactful
“Burt and New Life have provided a service we couldn’t find anywhere else. Burt has a unique ability to translate financial discussions for operationally minded business leaders. Since working with New Life we’re seeing, thinking and acting about our business in a much different way…a much better and profitable way.”
-Stephen Park, President of EZ Bel Construction
The CFO Leadership Engagement: Helping you Navigate Complex Scenarios
Again, this service builds upon what is provided at the Management Service Level. A CFO Leadership Engagement is appropriate when a company needs substantial financial expertise to navigate through large, one-time assignments. These frequently include:
- Defining and executing a turn-around plan
- Negotiating with vendors and creditors for a pending bankruptcy
- Negotiating M&A deals and integrating the financial/accounting operations of acquisitions.
These are complex situations that demand substantial experience and expertise but only for a finite period of time. So, when you have critical initiatives requiring flawless execution and a high level of engagement, New Life stands ready.
Click here to compare CFO packages.
Financial Tools
Financial Dashboards
All New Life CFO clients can automate their financial and operational reporting by implementing our Dashboard Suite. This powerful tool enables you to cost-effectively monitor critical aspects of your business’s performance. Keep apprised of financial health, key performance metrics, operating efficiencies, sales performance relative to goals, and more.
Quickly assess performance and trends.
- Historical Performance
- Financial Ratios
- Budgets
- Sales Performance
- Competitors and Competitive Benchmarks
- Bank Covenants
- Cash Flow Drivers
- Predictive Trends
- Operational Productivity Metrics
- Other Key Performance Indicators
Working Capital Optimization Tools:
Harvest cash from your balance sheet by optimizing working capital, and permanently reduce accounts receivable, with the following tools:
- Slow Pay Root Cause Analysis
- Billing & Collection Process Improvement
- Credit Management Outsourcing
- Professional Collection of Tough Accounts
- Inventory Optimization
- Vendor Consolidation and Renegotiation of Term
