Fractional CFO Services for a Growing California Business
A business owner with operations in California hired an accounting manager to oversee the company’s day-to-day financial operations. However, after a few years, it became clear that the accounting manager lacked the experience and skills necessary to increase the company’s financial growth.
Additionally, the company faced new operational challenges, including staffing difficulties, due to rapid growth.
The business needed strategic financial leadership to address rising operational demands and unexpected challenges associated with expansion but could not afford the cost of a full-time CFO.
Without proper guidance, the company struggled to balance its growing needs and financial responsibilities, requiring expert advice on both current and future financial planning.
- Operational and Financial Review: The business owner engaged our firm, John E. Geantasio, CPA, to conduct a comprehensive review of the company’s business operations and finances, while also assessing the current and future operational challenges.
- Fractional CFO Services: Our team provided a Fractional CFO who delivered an in-depth analysis of their financial operations along with KPI’s and additional operational metrics, which helped the company implement a more structured approach to managing finances.
- Forecasting and Budgeting: We developed a detailed projection of the company’s forecasting and budgeting needs, tailored to its rapid growth and staffing requirements.
Our tailored Fractional CFO services delivered rapid and measurable outcomes:
- Staffing Needs Identified: Within three weeks, the owner and management team were able to determine how much additional staff would be required to support the company’s projected growth rate, based on current financial analysis.
- Improved Financial Reporting: We established specific financial metrics and financial reporting models, which created guidelines for the company to make important organizational decisions.
- Significant Savings: Our team identified research and development credits and several tax savings strategies that helped eliminate or reduce certain expenditures. This resulted in approximately $475,000 in savings. These additional savings allowed the owner to invest in new equipment, enabling the company to scale its operations and meet rising demand.
- Increased Confidence and Clarity: With a clearer financial strategy and sound operational controls in place, the business regained confidence in its organizational performance and was able to grow from $719K in revenue to over $12M in revenue in just three years.
By leveraging John E. Geantasio, CPA’s Fractional CFO services, the company saved both time and resources that would have been required for a full-time financial controller. This solution provided the expertise needed to support their growth and maximize financial efficiency.
