A Manufacturing client engaged Flex-Able to perform an assessment of their finance team and provide recommendations and staffing options as a next step. The client’s secondary concern was that they were considering a new business endeavor and wanted to run scenarios regarding what that may look like financially and what their capital/financing options might be.
Flex-Able’s assessment concluded that the Client’s team was lacking in the areas of Leadership, Strategy, and Financial Planning and Analysis. Although the Client had a competitive budget for their Accounting function, nearly all employees had the same skill set and capabilities.
Flex-Able recommended staffing changes along with augmentation from Flex-Able for Leadership, Strategy, and Financial Planning and Analysis skills. Our recommendation did not change their budget, however it added three unique experts to their account, each spending various amounts of time with the client each week. The focal point of our recommendation was at the Controller level and light utilization of a CFO and Financial Planning and Analysis resource.
The client chose to do all of the recommendations and noted within the first 30 days how much more confident he was that he had the support not only to steward his current business, but to handle the new business endeavor as well.
A Healthcare services client had an outgoing CFO and Flex-Able was brought in for an assessment. Our recommendation was to implement a CFO/bookkeeping team at a combined 25-35 hours per week to meet the clients needs, exactly where they were. Flex-Able was contacted days after the CFO resigned and Flex-Able had a team ready for the client the following week, so we could transition during the outgoing CFO’s last week.
The biggest benefit to the client is that they lost almost no time in training or gaps in accounting/finance coverage. The client was able to focus on what they are good at (building the business and getting new customers) and they let Flex-Able focus on what we are good at – Accounting and Finance.
Not only did we better match the client with their actual need, we saved them 20% on an annual cost basis, and more like 30-40% if you include benefits and employer taxes.
The more subtle benefits to the customer: They no longer have to worry about sudden turnover or training of staff in the Accounting/Finance department. They now have two minds thinking about their business, vs one.
ASSESS: A Healthcare services client had an outgoing CFO and Flex-Able was brought in initially to perform an assessment. The assessment uncovered that the client’s outgoing CFO was performing many tasks that could be executed by a more junior, accounting resource, in addition to the tasks that were being performed at the CFO level.
RECOMMEND AND DESIGN: Our recommendation was to implement a CFO and Bookkeeper team at a combined 25-35 hours per week to meet the clients needs, exactly where they were.
IMPLEMENT & EXECUTE: In less than 5 business days, our CFO and Bookkeeper started work so we could leverage the outgoing CFO in his last week in the job, to ensure we could mitigate turnover time and cost.
OUTCOMES & BENEFITS: #MitigateCostofTurnover #Flexibility #Resources=Work #ClientEducation #Onbudget #SupportGrowth #InstantImpact #TrustedPartner #CostReduction #ROI #MoreMinds