Kaufman Enterprise Solutions |
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FAQ
FREQUENTLY ASKED QUESTIONS
Will my business benefit from your services?
We don't know yet. We need to conduct a fiscal assessment of your business in order to honestly answer this question.
How much does the initial fiscal assessment cost?
Nothing. We are happy to invest our time and resources into this process in order to determine if we can help you and your business.
What should I expect from the results of the fiscal assessment?
Lots of great information! The results are confidential - we will only share them with you and anyone else you designate. We will compare your financial information and key financial ratios to the averages in your industry. Your report will compare your current and desired situation in a number of categories. If we feel we can help you achieve your desired situation in at least a few of those categories, we will attach a proposal customized to your needs.
What if I am hesitant to share information about my business?
We will sign a non-disclosure and/or confidentiality agreement. We are senior level executives. We have helped hundreds of businesses to improve cash flow and profitability as well as grow their companies to the next level. In every circumstance, we have never done anything to compromise or hinder the competitive advantages and confidential information of our clients. We fully intend to maintain this track-record.
How long is your contract?
ZERO pages. We work with our clients on a hand-shake basis.
How much does it cost to hire you?
It depends. Based on your needs, we customize a program that will fit nicely into your weekly budget within the priorities and scope we mutually define. We never want our fees to surprise our clients, so we establish a ceiling on our weekly cost. We will not exceed that ceiling without first discussing and approving the situation with you. Often our fees fall below the ceiling. As the relationship progresses, we work to lower the ceiling. We are always very flexible in accomplishing the objectives of our clients.
What will your role be in my company?
Chief Financial Officer (CFO). This is how you may introduce us to your internal employees, banker(s), CPA(s), and others. Traditionally, the CFO of an organization leads the accounting and finance functions of the firm and works closely with the executive team and others in the company to develop and implement strategic initiatives, establish and enforce systems and procedures, and identify and solve business problems as they arise. In many organizations the CFO takes some if not all of the leadership responsibility over Human Resources, Information Technology, Operations, and more. We are experienced in these areas and are capable and willing to do the same.
How many people from your firm will work with my company?
One. From the beginning of the relationship, you are assigned a dedicated Executive CFO. Your Executive CFO will not delegate anything to others in our firm without your express permission.
Do you take the place of my CPA?
No. A very large company has an internal CFO and an independent CPA firm. They work together to serve the best interests of the company and the shareholders. A relationship with us would be no different. As your CFO, we will work with your CPA, often very closely, to help you achieve your goals and objectives. In fact, once we become involved, our clients' CPAs typically enjoy the relationship they have with your firm even more.
Can my CPA do what you do?
No. Even if they are willing to try, this is not advisable for many reasons, including:
- They have an ethical responsibility to remain independent from certain procedures and tasks within your company
- With hundreds of clients to serve, they cannot dedicate themselves to come onsite to your business on a regular basis. In comparison, our Executive CFOs handle no more than a dozen clients at a time, meaning they can allocate a good portion of their focus to helping you
- Being a CFO is a skill that is earned through years of experience. Our CFOs average almost 20 years of experience
- Thanks to the crunch of the tax season each year, your CPA is often difficult to reach during the months of February through April. Conversely, our work is not seasonal and we are always readily available to our clients
- We have built our business model around providing our services on a cost-effective basis. Your CPA operates under a different model, and, consequently, is probably unable to deliver our services competitively.
We become part of your team. We work closely with your staff. We train your accounting and finance staff to be more productive and valuable to the company. Our clients often include us in their company parties and activities.
Do you replace my accounting staff?
No. We work with your existing staff to accomplish your goals and objectives. We do not bring in or assign others within our firm to replace functions performed by your already-existing team. We will ensure you are adequately staffed and, if necessary, assist you in identifying and hiring the people and the talent you need.
What type of insight will you offer to my business?
Please read our past newsletters. This will give you a sample of how we approach business and its varying challenges and the perspective you will gain from having a CFO on your team.
How many other companies use services like those you offer?
Lots. We currently serve as the CFO for almost four dozen companies that represent thousands of employees and hundreds of millions of dollars in annual sales. Please refer to the Third-Party Articles section of our website to view a few independent pieces written about the growing trend of outsourced, part-time, and rented CFOs.
What if I don't need you on a regular basis?
We're very flexible. We are available to our clients on an as-needed basis. The nature of our services usually means that, in order for us to effectively add value to your company, we will probably need to involve ourselves in your business for at least a few hours per month.