Services & Solutions
Beal & Associates, LLC identifies and removes obstacles that impede growth and profitability. We focus on business systems and processes to determine their effectiveness and efficiency, both for the present and future levels of operations. Financial discipline is foundational to every successful business. Therefore, Beal & Associates, LLC offers interim or part time CFO services as well as integrates the financial, management, and operational disciplines with our Business Performance Realization model.
Interim/Part Time CFO Services
Many companies need the expertise of a Chief Financial Officer (CFO), but not on a full time basis. Some companies may have just lost their CFO. As a result of growth, needs change as processes and systems that worked in the past are no longer efficient. There are many reasons to contract an interim or part time CFO. Regardless of the reason, engaging a qualified, certified financial professional will enhance the value of financial reports and metrics. An experienced and knowledgeable professional also serves as an independent, trusted advisor to the business owner(s).
Interim/part time CFO services provided by Beal & Associates, LLC include:
- Accounting department management and oversight
- Timely, accurate, and consistent financial reporting
- Cash management & projections
- Financial analysis including graphs, ratios and other key indicators
- Budget preparation, monitoring, and variance reporting • Interactive financial forecasts and projections
- Documentation and compliance with accounting policies and procedures
- Human resources issues
- Negotiations with vendors and creditors
- Asset management
- Strategic planning
Business Performance Realization
The infrastructure needed to support efficient and functioning business processes is comprised of three main segments, Financial Discipline, Management Effectiveness, and Operational Efficiency. The point at which these segments work in harmony with each other is the point of Realization, where efficient and effective business process performance occurs. Working closely with senior management, we systematically review each segment for improvement opportunities. We then explore those business processes that are either shared by or connect the segments for synchronization and synergy. The point of Realization reflects the processes that support the company mission, values, and culture.
Financial Disciple
- Are the reports timely, accurate and consistent?
- Do budgets exist . . . with monthly variance review?
- Are the financial results separated by business unit or department?
- Does a forecasting model exist that project various scenarios?
- Are benchmarking standards employed?
- Is an accurate job costing system in place?
- Are cash flow management and forecasting reports generated?
Management Effectiveness
- Has a Mission Statement been developed that accurately reflects what the company is presently doing?
- Have Values been established to support and preserve the company culture?
- Is the decision making process effective [the speed with which issues are raised, discussed, evaluated, and resolved]?
- Do managers have measurable goals and objectives and are they accountable?
- Do all leaders possess the required leadership and management competencies?
- Does the management team understand the Change Management Process?
- How is resistance managed?
- Is compensation linked to performance?
Operational Efficiency
- Do all business units have clearly defined goals?
- Are resources effectively allocated?
- Are Key Performance Indicators employed? Are they directly linked with the financial statement?
- Are all initiatives tracked and reported with quantifiable metrics?
- Does a pricing model exist?
- How often is it verified?
- Is IT input an integral part of all operational initiatives?
- How easily are core operational competencies scaleable?
