The CFO Shake-Ups Keep Coming: The Latest Change of Hands

(image courtesy of meadjohnson.com)

(image courtesy of meadjohnson.com)

As the business world turns, more companies are changing and searching to find a CFO to help with their business success. One of the biggest shakeups this week was the resignation of Mead Johnson Nutrition Company’s CFO Peter Leemputte. As long as Leemputte doesn’t work for another company before March 13, 2015, he will receive his generous separation benefits package. His replacement, Charles Urbain, was the senior vice president for the company. Urbain managed both human resources and stakeholder relations, and will slowly be adjusting into the new position throughout the next few months. In other related news, Susan Riley was hired by Vestis Retail Group, LLC. Previously, she was working for the company as the interim CFO, and before that she was an independent consultant with the company. The company owns a variety of stores that sell clothing and sporting goods. Details on the compensation packet she received were not disclosed to the media at this time.

A good CFO can dramatically change the success of a company, and you can be set up with highly qualified applicants at Goodacountants.com. You can find a CFO replacement that is going to please shareholders, entice stock buyers, and help improve your company.

A CFO Shakeup Can Rock Your Stocks

A great way to spark interest in your company, to bring change and ignite stocks, is by changing the CFO. A new CFO will bring attention and can please shareholders, and many dominant companies in America have recently used this tactic. Newell Rubbermaid Inc. has named interim CFO John Stipancich as the permanent person for the job, and David Oaks has received the CFO title at DDR Corp. At the mail distributing company Pitney Bowes Inc., the CFO Michael Monahan has also been given the title of chief operating officer, which came with a hefty pay raise.

If you think it’s time for a change and you could benefit from some new blood at the top of the company, you can find a CFO service that has qualified applicants. Find the person who has what it takes to improve your company at Goodaccountants.com, and be the next company to reap the benefits of the shakeup.

Company Shakeups A Good Reminder It’s Time to Find a CFO

A number of companies have recently undergone a CFO shake up, including Oregon-based Northwest Natural Gas Company, whose current CFO Stephen Feltz is set to retire. The organization is currently searching for his successor.

Bloomfield Hills, Michigan-based TriMas Corporation, a manufacturer of products used in the aerospace, packaging and energy industries, announced on Monday, January 12, that it named Bob Zalupski as its chief financial officer effective immediately. He was the company’s vice president of finance, corporate development and treasurer, with a total of more than 30 years of business and financial management experience. He succeeds Mark Zeffiro, who will become CFO for a forthcoming spin-off business from TriMas.

Unilife Corporation, out of York, Pennsylvania, a leading developer and supplier of injectable drug delivery systems, has appointed David Hastings as its CFO. Hastings was previously CFO at Incyte Corporation and is expected to join Unilife on February 23, succeeding interim CFO Dennis Pyers.

Finally, Tucson, Arizona-based Providence Service Corporation, a social services and transportation company has announced that Robert Wilson will leave his role as CFO, but will stay at the company through the first quarter of 2015. The business is currently seeking to find a CFO to take his position.

With so many CFOs moving around, it’s a good reminder that your small business needs to find a CFO. You don’t need to have a large company in order to take advantage of a CFO’s services to improve the future of your organization. A qualified CFO can be beneficial to all types of companies in many different ways.

You might receive much-needed advice on the structure of your business as well as being able to access unbiased, professional financial advice to help your company grow. A CFO can help with cost control measures, government regulation, capital acquisition and much more. They can review all of the procedures within your organization, identify and fix problems to maximize productivity too.

While locating the right person for the job may seem like searching for a needle in a haystack, the good news is that you can find a CFO easily just by contacting GoodAccountants.com. With access to a long list of highly qualified candidates, you might just find the perfect CFO for your business that can help take it to the pinnacle of success and beyond.

David Huber Awarded Best CFO: Don’t Underestimate the Value of a Great CFO Service

CFO of the year David Huber - find a CFO service todayThe NJBIZ CFO of the Year awards program celebrates New Jersey’s financial executives at all levels who contribute to the success of the state’s economic growth and stability. David Huber, CFO of Horizon Blue Cross Blue Shield of New Jersey, was honored as the best CFO for a private company generating revenue of over $50 million.

Huber noted the importance of the CFO role in today’s business world. Where it was once largely a record-keeping rule, he said, “Today the CFO is expected to be a business partner to the CEO and senior management team. The CFO must be able to understand the business from the frame of reference of constituents, including customers, employees, board members, rating agencies, regulators, etc. I spend most of my time looking forward.”

The value of a good CFO cannot be underestimated, in fact, some say the CFO may be even more important than a CEO. A CFO needs a wide variety of skills and experiences in the ever-changing market structure of today’s world. The person in this essential role is often called upon to weigh in on strategic decisions involving the organization, including everything from transactions to providing assessments of emerging markets and analyses that go way beyond looking at the books and figuring out whether or not there is enough cash available to support an investment.

With a business’ success or failure often hinging on the talents of the CFO, it’s essential to find just the right person to fill that role. You’ll want to find a CFO service that can locate the top talent available to perform tasks that are vital to the company.

You may want to find a CFO service that is able to provide an Outsourced CFO to help manage your financial operations as an excellent cost savings solution. An increasing number of small to midsize business owners have discovered that they can afford a seasoned CFO by utilizing CFO services, relieving the big burden of managing the company’s financing, while allowing them to focus on what they do best.

If this sounds like good business sense to you, to find a CFO service that can provide your company with the best talent available while eliminating the need to pay the high costs associated with hiring an employee like payroll taxes and health benefits, look to GoodAccountants.com who can deliver the most qualified CFO candidates to choose from at no cost or obligation.

Different Type of NFL Draft: How to Find a CFO Service

Different Type of NFL Draft: How to Find a CFO Service

Find a CFO Service

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During this time of year, there is often a lot of discussion about the NFL draft. Avid football fans get excited about the picks for their favorite team, and it is a fun time to make predictions about how the season will play out based on the new lineup. This year, one new hire wasn’t noticed by many of the fans though: the Miami Dolphins hired a new chief financial officer, Chris Clements.

As with any company, an NFL team is a business, which means that they need to find a CFO service to help with managing the books and cash flow. Many companies choose to hire a full time CFO, like the Miami Dolphins did. But, there are other options as well, and one growing trend is to find a CFO service which allows you to benefit from the expertise of a CFO without hiring them as an internal employee.

Advantages of a CFO Service

One of the biggest advantages to using a CFO service instead of hiring someone independently is the fact that you will save a substantial amount of money. By outsourcing the CFO position, you can save money on high salaries, recruiting fees, payroll taxes, and health benefits. These costs can really add up over time, which can have an impact on the cash flow of the company.

Some of the CFO tasks can be handled by other executives in the company, because their responsibilities overlap with the responsibilities of other employees. So, if you are looking for a way to save money, then you can have other executives handle those responsibilities, and then hire a part-time CFO service to handle the financial discipline of the company.

Why a Skilled CFO is Important

Saving money is important, but it is even more important that you don’t sacrifice the success of your company by neglecting the financials. When you find a CFO service, you can have the peace of mind to know that you are working with an experienced executive, who can help with tasks such as financial planning, strategic cash flow decisions, reducing expenses, increasing profit, and overall improvement of the financials of your company.

GoodAccountants.com has a variety of CFO professionals for you to choose from, contact us today and we will help you to find a professional that matches your needs.

AppNexus Gets a New CFO, Using CFO Services to reach IPO Goals.

 

CFO services

picture from www.mandmglobal.com

Business Insider reports that AppNexus has made another step making it appear as if the company is getting ready for an IPO. They recently hired Jonathan Hsu as the new CFO/COO. Hsu has been an investment banker at JP Morgan, but more notably had been the CFO/COO and CEO of 24/7 Media while it was a public company and led it through its $649 million acquisition by WPP Group in 2007.

As a CFO has the ability to make a significant difference in whether or not a business can be taken to the next level, utilizing CFO services can be essential for its financial health and overall success, no matter what size the company is.

A smaller business typically has different needs than a large corporation, with the CFO often responsible for a wider range of tasks. Utilizing a professional firm like GoodAccountants.com that is able to deliver CFO services for small and mid-size companies as well as oversee their financial situations which can become more complex as they grow, can be extremely beneficial. While a smaller company may not have enough room on the payroll to hire a fulltime CFO, CFO services can be utilized as an effective strategy for making both long-term and day-to-day decisions without having to go over budget.

In the long run, taking advantage of these services can actually pay for itself by increasing the bottom line over time. The CFO can help devise revenue increasing strategies, enhance profitability and cash flow in addition to keeping track of day-to-day financial operations and working on a number of financial projects and tasks.

Without appropriate financial control, a business is destined to fail. A professional, qualified CFO can take an in-depth, critical look at the business to identify where cash is coming in and going out. A strategy can then be designed to ensure that the company doesn’t run out of cash by plugging leaks, and allow more cash flow to come in.

Even by engaging a CFO just on a part time basis, the commitment reveals to others that you are serious about your business and its future. It shows vision, good judgment, and that you are confident in your organization.  It helps to raise your credibility, and the impression of investors, suppliers and customers, giving stakeholders greater confidence in dealing with your company.

Guide To CFO Services and CFO Firms

Outsourcing CFO services to dedicated firms is a trend becoming increasingly popular among businesses. Usually because these CFO firms help businesses look at the bigger picture, their only skill isn’t financial recording and management. A CFO ensures that the system and processes being practiced in your organization are up to date and are able to produce efficient financial data; so consequently, the owner can make better decisions.

A CFO services goals and objectives are parallel to the business’s goals, ensuring proper growth and expansion while keeping the daily cash flow in order. Even providing new services like a Life Settlement or a Viatical Settlement could prove worthwhile.

Finding the right CFO Service has gradually become difficult, primarily because there are so many of them. You need to be sure that the CFO Service you are going for is highly relevant and effective for your business.

When Should You Be Concerned About Finding A CFO Service?

  • If you are constantly worried about cash allotment and cash shortages
  • If you find yourself frequently depressed about the direction of your business
  • If you are wasting your time in activities like tax preparation and meetings with lawyers or bankers
  • If you are concerned about the security and financial aspects of your business
  • If your business is unable to generate adequate profit margins and you don’t know why
  • If you doubt the current systems and procedures your business functions upon are obsolete or ineffective

If you find yourself tangled up in the mess above, then it is time to bring in the services of a CFO firm.

What Benefits Can A CFO Service Offer?

  • You have experts at your disposal to guide you through risky business decisions and to fine-tune your business plans and goals
  • You have access to profitability analyses on your products and services, which tell you which ones are the best and which need to be revised
  • You have a goal-oriented mindset for your business knowing that there are experts who got all the financial aspects covered
  • You can concentrate on important aspects of your business like attracting customers, developing new offerings etc.
  • Perhaps the most important benefit is that you have professional, unbiased advice at your disposal to which you have access anytime
  • Hiring a CFO service means you have skilled members available to interact with lawyers or bankers on your behalf
  • CFO services can refine your management and accounting procedures for a better outcome
  • CFO services also offer training and development activities for your currently employed accounting staff to best benefit your business
  • CFO firms have a superior understanding of the financial side of your business, even better if they have prior experience of working with companies in your industry

Questions To Ask CFO Services

  • What qualifications do your CFOs hold?
  • Have you ever worked with a similar business or a business in the same industry?
  • What is the scope of services you will provide?
  • How can you help my organization in the long term?
  • Will you help me with legal and bank related issues (insurance, mortgages, and loans)?
  • Do you function on a one-time payment plan or a pay as you go service?

These are some of the guideline’s you should keep in mind when hiring a CFO Service. Be sure you assess the firm and the services they offer to benefit from your decision!

What Is A CFO Service?

Running and managing a business is a really complicated task. Business owners find themselves tied up between the struggles to deliver the best services while managing their staff and leading them. It has become even difficult as there are a number of competitors in every industry and all of them are working towards getting to the top.

In the midst of all these matters to take care of, managing financial and accounting matters is a handful. It is often not suitable for businesses to hire a full-time accountant, to be straightforward, they just cost too much! With the economic downfalls and the inflation, hiring a full-time accountant might not be the best choice. So what should you do?

Here is where CFO services come in, skilled with financial experience and accounting tools, these CFO services can effectively manage financial aspects of a business and that too at a comparatively lower cost. The best part about these CFO services is that you are required to pay, only for the services you want and not a lump sum amount.

What Do CFO Services Offer?

When you choose to hire a CFO Service, you shouldn’t be worried about anything related to accounting and finances. They offer a complete solution, including:

Financial Management And Reporting Services

  • Business and banking relationships
  • Cash flow Assumptions
  • Debt management
  • Divestitures and Acquisitions
  • Executive management reporting
  • Internal controls
  • Profitability and Performance strategies
  • Risk and tax management

CFO Services employ accountants who have highly relevant certifications like CA and ACCA or people who have done their Post-graduation with their majors in finances and accounting. This enables them to create a team of individuals with strong financial expertise.

Not Only Accounting And Financial Reporting

If you choose a CFO Service wisely, it will bring more of a holistic approach to your business and company. They would not only cover financial aspects of your business but also fine-tune other departments like HR and IT.

Access To Expert Advice

Whether you need advice on the structure of your business or you are looking for advice on mergers and acquisitions, this is by far the greatest benefit CFO services offer. You have access to expert financial advice at your fingertips. As it is not part of your organization, the advice is completely unbiased, professional and helpful.

Staff Assessment And Help

Supervision and counseling of your entire staff is another service they offer. If unskilled or untrained staff is causing problems like lower productivity, CFO services might have a solution for you.

Review Of Current Procedures

Not sure about the efficiency of the procedures in your company? A CFO Service reviews all the procedures currently being used in your organization and they also help fix any problems to maximize productivity.

Create Connections

A good CFO Service can help you build connections with professionals, investors, bankers and attorneys, all related to your industry.

Choosing a CFO service might not be as easy as it seems, there are a lot of services and they have a lot to offer. Come see how good accountants can help you find a great CFO service today!

6 Ways A CFO Service Can Increase Productivity

Chief Financial Officer Service and Your Business

CFO Services

CFO services for small business

Many businesses are beginning to realize the benefits of hiring a professional CFO Service provider. However, businesses often fail to perform the right research to ensure that their choice is going to be profitable. If you are willing to dedicate your money and time to hire a CFO Service, perform infallible research before you take a step ahead.

Small or large businesses which often lack a high degree of sophistication can greatly improve financial administration with the help of a CFO firm. There are innumerable potential benefits which can help increase productivity like increased profitability and shareholder value and a strategic, result-oriented perspective of an outside expert.

Finding the Right CFO Service

Locating and hiring the most appropriate CFO Service can be a difficult task. You need to know a few things. Ask yourself why do you need a CFO Service? What are you looking for in a CFO Service? What CFO services could prove beneficial for your business? Once you have answered these questions, there are a number of ways your CFO Service provider can help increase productivity for your business:

Number # 1: Strong Financial Expertise

A CFO Service normally has quite strong financial expertise due to their qualifications. They can effectively handle:

  • Profitability and Performance strategies
  • Divestitures and Acquisitions
  • Business and banking relationships
  • Risk and tax management
  • Executive management reporting
  • Internal controls
  • Cash flow Assumptions
  • Debt management
  • Cash flow assumptions

Number # 2: The Ability To Create Your Connections With Professionals

A reputed and well known CFO firm can help you connect and build a network of business oriented professionals like:

  • Investors
  • Equity firms
  • Attorneys
  • Bankers
  • Insurance Experts

By making these connections you can self analyze the boost you get to professionalism and productivity for your business.

Number # 3: Business and Operational Experience

Carefully choosing the CFO firm that is well versed for its vast experience will bring a holistic approach to your business. Not only will it refine financial, but also the non-accounting aspects of your business. These areas may include all other departments in your organization such as Human Resource or IT departments.

Number # 4: An Outside Viewpoint

An experienced and well-chosen CFO Service brings an unbiased and independent perspective challenges your business might be facing or to boost productivity. As a result, you get highly professional and impartial advice which is always in your business’s best interest.

Number #5: The Skill To Assess Your Staff

Staff assessment, supervision and counseling are vital offerings of CFO services. They are programmed to look for problems which might be inhibiting growth and productivity for your business. If under-trained or un-skilled staff is your problem, they’ll willingly fix it.

Number #6: Review Of Procedures In Currently In Practice

In addition to the array of services, CFO Services also perform a review of all procedures currently practiced in your organization. If changes are required to optimize efficiency, they do it as a part of their job. Some aspects they cover are:

  • Improvement of financial reporting methods
  • Evaluation of financial records
  • Examination of accounting procedures and controls
  • Development of Key Performance Indicators (KPI’s)
  • Setting up financial and accounting policies and procedures

With advancements in all aspects of businesses, CFO Service’s job is more complex than ever. Choosing the right service can give a whole new way and face to your business, ultimately increasing productivity and boosting revenues.

CFO Resigned? How to Find a CFO to Take Your Business to the Next Level

Find a CFOWhat should a company do after their CFO has resigned? Recently, Jim Bonsall, the CFO for the city of Detroit resigned, after allegations were made that he demeaned a coworker during a meeting. An internal investigation is moving forward to determine if Bonsall made the racial remarks that he has been accused of. He submitted his resignation as a result of the controversy.

In this situation, the next step is to find a CFO for the city of Detroit, which can be a lengthy process in order to locate a qualified person who can handle the responsibilities that come from managing the finances of a city. It is essential that a qualified CFO is hired, because hiring the right person can be the difference between financial success or failure of the organization.

The rocky economic climate in the United States has made it more important to find a CFO who can manage financial assets wisely. The CFO is responsible for protecting the bottom line and making sure that expenses can be met. In the process, he needs to find ways to trim the fat without causing harm to the success of the company. It has been said that the CFO may be even more important than the CEO. The CFO will have a good hold on the financial outlook for the company, and they will be able to advice the decision makers on how the money is best spent based on the financial resources that are available.

One good option is to outsource CFO services through a trusted company, such as GoodAccountants.com. The CFO services that are available will provide a company with high quality talent at a cheaper cost than hiring an independent CFO.

The process to find a CFO usually involves heavy recruiting to locate qualified candidates, followed by background checks, reference checks, and intensive interviewing to pick the right person. Even after all of this work has been completed, the company is still taking a risk to see if the person will be the best fit for the company. Using CFO services allows a company to have access to top CFO candidates without obligation or cost.