Comprehensive Financial & Operational (CFO) Assessment success story.

You’ve heard us talking about our CFO Assessment for some time now, so we thought we would share a success story with you about a client that came onboard in 2023.

Our client is a Not-for-Profit run by a commissioner, who recently joined the organization, with Board oversight.  They have been in business for over 40 years with annual revenue of $5M.

Like many organizations, there was a lot of doing things the same way because “that is how we have always done it” even though it was not working, and inefficient.

As our first step of engagement, we spent time with personnel, including the Commissioner and Deputy Commissioner, asking questions, doing a significant amount of listening and note taking.  We heard about what is working, what is broken, frustrations…

Our questions went deep into who, what, where, when and how things are being done, and what’s missing. What checks and balances are in place to ensure accuracy, accountability, and safeguarding of assets. What systems they use for accounting, payroll, etc.

Finding out if the financial statements accurately reflect the organization and if those relying on the information are getting what they need on a timely basis.

After gathering information, we sat down with the client to go through our findings and recommendations.  Much discussion ensued to lay out the path forward.

After the meeting, a roadmap is put together with the goals to be accomplished.  Each goal is assigned to a team member and given a due date.  This keeps the process on track and ensures that everything gets done on a timely basis.

Within a short period of time, changes are made – big and small – to work towards the common goal of best practices, efficiency, and accountability.

Each engagement is unique. Our findings and recommendations are tailored to the client.  We ask the right questions up front.  This gives us the opportunity to learn about the business to make sure we formulate a plan to assist the client in achieving their goals.

Learn more about the CFO Assessment here and schedule a Complimentary Consultation to discuss our services and the value we bring to you.