Timely, accurate financial reporting is always an important part of making sound business decisions and plans for the future, but this is never been more true than during challenging times such as these. Business needs, and therefore budgets, are being adjusted on the fly, so real-time forecasting and reporting tools become even more critical.
Proper planning begins with accurate historical information. This provides the appropriate financial context and weight behind any forward-facing decision. Unfortunately, this can be time-consuming, but the clarity it ultimately provides is worth it in my opinion. However, it can often over-burden entrepreneurs and small business owners by taking their eyes off the prize, so-to-speak.
One option that has worked well for my clients is to outsource their non-revenue-generating tasks to trusted partners, including PFC. This will helps to focus strategic capacity on the core business, maintaining client relationships and making sure staff are taken care of & able to be efficient while working remotely.
In these instances, my staff and I will act as their finance and accounting departments – from the CFO and controller functions on down to bookkeeping and processing transactions. Since all of our deliverables are cloud-based, our clients have 24/7 access to any document they might need…therefore providing 24/7 access to the mission-critical data to help navigate these unprecedented times.