“Inviting an outsider to come in and give them full access to all of your finances can be very unnerving, especially if you’ve been doing your own books for a few years as we had been. We took the leap of faith after going back and forth as to whether or not we were ready for the change. We felt that going with Preferred CFO was the right decision, as they had the expertise in areas that we knew we needed as well as in other areas that we knew might be relevant in the future, such as raising capital or selling our business. We ruled out the alternative of hiring a full-time person at a much more expensive salary.
Preferred CFO’s vast knowledge was evident once we began. We trusted them as they began by changing our processes and separating the books that we kept for various business units in one. It was time for more sophistication.
Preferred CFO had a strong influence in the successful sale of one of our business entities. Their work helped us to understand the value of each entity separately. Presenting a well- prepared and unified front to our buyers was a very important thing to us. Our assigned CFO was able to present accurate financials, articulate future expectations, and help describe where the company had been.
One of our favorite parts of Preferred CFO’s solution is the consistent reporting. We have insights into our business that help us make strategic decisions. Their help in strategic budgeting and planning is something that we rely on every year. We see Preferred CFO’s team as a critical advisor and mentor to our decision-making. Although they don’t work in our business everyday, there is no doubt that they have a deep desire for the success of our business.
In essence, Preferred CFO does the heavy lifting as it applies to the finances of our business. Without them, we would have to hire at least two other employees and would be stuck with a much more expensive bill each month.
My advice to those that are considering working with Preferred CFO is that you shouldn’t hesitate to hire them. The ROI is clear in my mind: starting with the processes that they put into place, they help streamline and create efficiencies within the business that make it worth much more than what you’re paying for their service.”