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Jean's Tips
The differences between an Accountant, Bookkeeper, Controller, CFO and CPA, and when to enlist each for your business.
As the U.S. economy continues to recover and a new level of normalcy is established, small businesses know that their next level of growth requires taking a proactive leadership role in its finances.
As the adage goes, the only thing certain about business is uncertainty. That’s why it’s important for finance and accounting departments to be able to scale quickly and accordingly to the demands, deadlines, and deliverables that the business requires. In speaking with CEOs and CFOs and from experience, tight deadlines may be driven by regulators or a lender who demand financial reporting. Other times there might be a project deadline that is looming and they simply just need additional people to get the work done. That’s where Ingenio Solutions comes in. When companies and organizations need high caliber, highly skilled project resources to complete accounting and finance projects and scopes of work, they rely on Ingenio. Software Implementations: an Ideal Time to Bring in Project Resources As companies upgrade their infrastructure and undergo software implementations, often times they need consultants to fill key roles on the project team. They can also backfill for employees who are assigned to project teams that are responsible for software implementations. In this scenario, Ingenio consultants keep the day-to-day accounting activity running while the project team performs the implementation. This allows company employees to embrace the new technology more quickly as they work as part of the project team.
CEOs and business owners can find themselves in need of critical resources when a CFO, financial Controller or VP Finance leaves the company unexpectedly. When this situation occurs, it can cause a high level of anxiety for the remaining executives because finance and accounting, the lifeblood of an organization, is critical to keeping a business running smoothly. Ensuring that reporting, analysis, payroll, billings, receivables, payables, and cash management are handled in a timely manner is a top-level priority—all key aspects of financial operations must continue uninterrupted. Taking Time to be Strategic after the Departure of a Key Finance Leader Ingenio Solutions CEO and Founder, Jean Latu, says that “like with most ‘problems’, when there’s a departure of a high level finance leader, it presents a company with an opportunity.” In the case of a sudden departure of a CFO, Controller or VP Finance, it’s an opportunity to step back and assess the current and future needs of the company. A finance leader who can set the standard for the Finance team, and achieve the results necessary for the company to grow and succeed, will be a valuable business partner. Although the departure of a key finance leader can trigger an immediate search process, it’s an opportunity to revisit the company’s goals, evaluate current and future needs, and create a strategy to hire the right person who will serve the company in the future. An interim resource can bridge the gap until the new leader is hired.