The controller is generally an accountant who may also have responsibilities for budgeting and forecasting. Most controllers focus on historical results and compliance with GAAP and tax codes. The role of the CFO is strategic and cross-functional. The CFO is a key business partner for the CEO who can plan for business growth, develop debt / equity strategies, design compensation programs, participate in pricing decisions, and negotiate strategic alliances. Most small to medium sized businesses cannot financially justify a full-time CFO. CFO Advisory Services can provide the financial expertise you need without the payroll and overhead cost of a full-time CFO.

We have focused on early stage start-ups as well as medium sized companies. In addition to having finance and management experience with mid-sized and large companies, our team has experience with all aspects of early stage start-up companies. CFO Advisory professionals have experience beyond finance and accounting, including CEO/COO/GM positions and information technology consulting.

CPA firms specialize in audits (assurance), tax planning/compliance. In order to avoid conflicts of interests or because their personnel lack the skills, CPA firms do not assume the role of Chief Financial Officer. We work closely with CPA firms on such matters as year-end audits and tax returns since these firms have the appropriate independence and expertise for these engagements.

ERP systems integrate accounting, purchasing, operations, sales order processing, distribution, and service functions. There are numerous signs that your company needs to upgrade to a new ERP system:

System performance issues.

Inadequate vendor support.

Inefficient interfaces across disparate systems.

Inability to handle in areas such as engineering, protection, and service.

Lack of web services for e-commerce initiative.

Difficulties with querying and report writing.

VARs act as channel partners for ERP vendors. They market, implement, and support a limited number of ERP solutions. While they may provide a consultative approach, VARs will generally be biased for two reasons:

Their compensation is from the commission earned on the sale of the brands they resell, not on consulting fees.

Their knowledge is limited to the products and technologies they support.

You the buyer should be in charge, not the seller. Instead of relying upon the recommendations of one or two VARs, it is more advantageous to survey the ERP marketplace thoroughly and solicit competing proposals from four to eight VARs.

It is possible to designate an internal Project Leader, but consider the following advantages to hiring a consultant:

Experience with identifying a cost-beneficial ERP that meets the client's business needs while providing state-of-the-art technology (e.g. scalable database system and web services).

Experience in managing user groups and acting as a liaison with VARs and other vendors.

Team approach that includes prime movers representing all functional areas. Because the consultant is a neutral third party, he can effectively listen to input from all functions, ensuring consensus and team alignment.

Extensive network of VARs, ERP vendors, third party add-on software vendors, and industry forums.

Proven methodologies in planning, interviewing, cross-checking requirements to features, conducting product demos, and summarizing findings.

Dedicated focus to ensure that search and implementation can be completed expediently.

Extensive network of other professionals, including manufacturing and IT consultants who are available to assist on a subcontractor basis.

Experience in negotiating agreements.

CFO Advisory Services is capable of providing full service from defining requirements through managing the implementation process. We have experience in numerous verticals in both the private and public sectors.