Isn’t my CPA my CFO?

In short, the CPA’s critical role in any business is the accurate and timely reporting of financial information—report the news!  At the same time, the CFO’s role is to use this information to help shape the future of the business.

While your CPA is highly qualified to provide accounting and tax advice, a forward-looking CFO can perform a number of tasks that fall beyond the scope of a CPA, including:

  • Long-range operational and sales planning
  • Providing an in-depth understanding of corporate finance
  • Budgeting and risk assessment
  • Working directly with the executive team on business processes.

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Why does my business need a CFO?

You may think of a CFO as you think of your CPA or accountant, but the role of a CFO in your business is much more comprehensive.  A CFO is the key financial advisor and strategic partner with the experience to help you achieve your business’ goals and objectives.  Simply stated, a CFO’s objective is to work with the Business Owner or CEO in guiding the business toward financial strength and sustainable growth.

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What exactly does a CFO do?

With both financial and managerial skills, the CFO serves as the disciplined, professional manager to help guide the business toward achieving its established goals, and provides balance to the creativity and passion of the Entrepreneur or CEO of the business.  The combination of the two skill sets, working in concert, is essential to a successful, growing and sustainable business.

The role of a CFO is five-fold:

  1. Financial Reporting — oversight of accounting;
  2. Treasury — supervision of cash flow management and forecasting and capital requirements;
  3. Forecasting — provides the financial roadmap of the business, in the form of annual budgets and 3-5 year business plans;
  4. Strategy Advisor — works with key management of the business on formulation and execution of business strategies;

Key Business Partner — acts as strategic partner and advisor to the CEO or Business Owner.

How long will it take for my company to see results?

Suncoast CFO Solutions will immediately focus on the business opportunities which will provide the quickest and most immediate impact — we would expect results beginning within the first three to four months of engagement. At the same time, Suncoast CFO Solutions will work with the strategic direction and financial forecasts of the business to help ensure that the longer-term expectations of the Business Owner are met.

Isn’t a CFO expensive?
Suncoast CFO Solutions costs a fraction of the investment a business would need to make to hire a full-time, experienced CFO. We offer a range of service levels which will always be tailored to the needs of the business.

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How would we get started?

First, Suncoast CFO Solutions would meet with you for a complimentary, confidential consultation to discuss your business and how we could potentially assist you. Following that, the ideal next step is for Suncoast CFO Solutions to conduct a Business Analysis which entails analysis of the strategic goals and objectives of the business, review of financial performance and comparisons to industry performance benchmarks, competitive advantages of the business, and observations for potential business improvement — in short, a business checkup, to be shared with the Business Owner at the completion of the process.

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Do I have to sign a contract for a certain period of time?

No financial commitment is necessary. Services are provided on a monthly basis and may be discontinued at any time.

What are the benefits I could expect to see?
Specific benefits would vary depending on goals established, but generally key benefits would include:

  • Higher level of certainty regarding your business’ financial performance and cash flows for the next 6-18 months.
  • Assistance in managing all the financial affairs of the business, freeing the Business Owner or CEO to focus on their passions in the business…sales, customer service, overall business growth…
  • Cash flow and profit improvement.
  • A strategic partner to the Business Owner.
  • Peace of mind regarding the financial status and health of the business.

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I don’t need ongoing consulting, just help with a special project. Is Suncoast CFO Solutions available for one-time special projects?

Absolutely!  Suncoast CFO Solutions will work with your business to develop solutions to your special needs.

Our CFO is going to be away for an extended period of time. Can Suncoast CFO Solutions help fill in for him?

Yes, Suncoast CFO Solutions is prepared to immediately step into the interim situation and fulfill the needs of the business on a short-term basis.