CASE STUDY
Emergenetics came to Ascent CFO Solutions with 3 distinct challenges:
Five QuickBooks instances for each of their global entities operating in 3 currencies; USD, Euro and SGD.
A time-consuming expense management process.
No way to visualize the right financial information for the right people at the right time.
Here are the solutions that helped streamline their financial operations.
While navigating through times of rapid growth and expansion, businesses often encounter specific challenges that can sink the ship if not recognized and avoided. An experienced CFO can help businesses identify and steer clear of these hidden dangers, helping to ensure smoother sailing to financial success.
As someone who has spent 15 years in finance roles at Fortune 150 companies and another 12 years as a CFO for high-growth firms, I specialize in leading organizations through various phases of growth, circumventing the pains and risks that commonly go along with them. Whether with a VC-funded, PE-backed, or Founder-owned firm, many of the same challenges present themselves.
Here are some of the most frequently encountered challenges and how to avoid them.
In the dynamic landscape of business growth and expansion, having a rolling forecast plays a pivotal role in the strategic planning and decision-making processes. Unlike traditional static budgets that can become obsolete by mid-year, a rolling forecast enables companies to adapt to changing market conditions and scale their business effectively.
Let's explore 4 reasons why a rolling forecast is essential for companies navigating growth.
Selecting the right Chief Financial Officer (CFO) is a pivotal decision for any organization. Beyond technical proficiency, the ideal CFO possesses strategic vision, leadership acumen, and cultural fit.
Here are key interview questions to uncover these crucial qualities and ensure you're hiring the best candidate for the role.
Raising capital is a pivotal step for businesses aiming to scale, yet it's a journey laden with unexpected twists and turns. While the fundamentals are widely understood, there are several surprising aspects that entrepreneurs and CFOs should be aware of.
Here are seven insights to consider when embarking on the quest for funding.
As startups transition from the seed stage to Series A funding, strategic financial management becomes increasingly critical. While many founders initially handle finances themselves or rely on part-time assistance, knowing when to bring a Fractional Chief Financial Officer (CFO) into the fold can be a game-changer.
In the seed stage: resources are often tight, and founders wear multiple hats, including financial oversight. However, as the business gains traction and secures seed funding, the complexity of financial operations grows. This is the stage where a Fractional CFO can provide invaluable expertise in financial planning, budgeting, and establishing robust financial processes.
By the time a startup approaches Series A funding: the need for strategic financial leadership becomes more pronounced. Investors scrutinize financial metrics closely, and a solid financial strategy can be a key differentiator in securing funding. A Fractional CFO brings a depth of experience in navigating fundraising, preparing financial forecasts, and communicating financial insights effectively to investors.
A Fractional CFO offers scalability and flexibility, aligning with the evolving needs of the business. Instead of committing to a full-time hire, startups can access top-tier financial expertise on a part-time basis, optimizing resource allocation and minimizing overhead costs.
By engaging a Fractional CFO at the right time, startups can set a solid foundation for sustainable growth and financial success. Is this the right time for your business? Reach out: ascentcfo.com
Acquisitions represent both exciting opportunities and complex challenges for a business to navigate. As a key player in the acquisition process, the Chief Financial Officer (CFO) must possess a unique set of skills to ensure a successful outcome.
While CEOs and founders often take the lead in pitching to investors, the role of the Chief Financial Officer (CFO) in fundraising should not be underestimated. Here's what your CFO should be doing to ensure fundraising success for your company.
In today's dynamic business landscape, companies face multifaceted financial challenges that demand strategic expertise and guidance. Enter the Fractional CFO – a flexible, cost-effective solution providing invaluable financial leadership without the commitment of a full-time hire. Here's why your business needs one:
Many CEOs and company leaders know that there is a wealth of data within their organization that can help them gain essential insights to guide their company’s growth. So why does this data so often go underutilized? Why aren’t more leaders able to effectively use their organizational data to help them confidently make business decisions? In this article, we tackle three problems that hold companies back from harnessing the power of their data and identify solutions to help company leaders finally make their data useful and actionable for growing their business.
Nationally recognized Fractional CFO firm, Ascent CFO Solutions, launches an innovative, fully-customizable data visualization solution designed to provide greater visibility for CEOs and founders looking to expand and grow their businesses. Insights by Ascent CFO aims to accelerate the connection between a company’s abundant data and the leadership’s ability to make informed and timely decisions as they run the business and plan for growth. Leveraging innovative technologies, Insights by Ascent CFO is a fully customized solution based on a client’s data requirements and business needs.
Ascent CFO Solutions is excited to share a highlight video + full recording of our 2023 Denver Startup Week Session - Ask a Fractional CFO: Ascend to Your Next Stage of Growth! In this session, experienced Fractional CFOs discuss how their role helps entrepreneurs build sustainable businesses that are ready for their next stage of growth. Founders leave the session with a deeper understanding of how both a Fractional CFO and a firm understanding of their financials can help them reach their growth goals.
We are entering a new era where artificial intelligence (AI) is accelerating how efficient each of us can be. In the very near future, AI tools are going to be just as critical to all of our roles as a Google search. As CFOs and executives, it’s essential that we learn how to interact with AI effectively. In this article, Michael Leonardi, CPA, discusses where AI is now, where AI could be going in the future, and how you can be using AI to increase your efficiency right now.
Financial literacy is imperative for all business owners and executives, especially as they navigate a changing and uncertain environment. In honor of Financial Literacy Month, here are a few of our top tips for increasing your financial literacy in your company.
Ascent CFO Solutions is a team of diverse and talented financial professionals. In this series, we will spotlight team members to highlight the unique talents and experiences that each one brings to the table for our firm and clients. First up is Carol Wood, a Fractional CFO with a career focus on helping technology companies scale to their next level of growth. We are thrilled to introduce you to Carol, and we hope you enjoy learning more about her.
Year-end planning is imperative for all businesses, especially as they navigate a changing and uncertain business environment. Over the last six months, rising inflation and a likely recession has created fear and panic for some companies as they look to 2023. While business leaders have little control over macroeconomic cycles, they do have the ability to truly understand the specific components of their business, adjust and be flexible in their goals and spending, and navigate uncertainty with greater confidence. Ascent CFO Solutions’ Founder and Fractional CFO Dan DeGolier shares his insights on how businesses can take advantage of year-end planning and forecasting, how to handle financial uncertainty, and ways to elevate your business for greater success in 2023.
As the Software as a Service (SaaS) business model soars in popularity, companies face a big dilemma of how to establish metrics to run the businesses in a manner that maximizes value. The value of starting a SaaS business is to show investors that there is a large addressable market, a high likelihood of the team being able to execute, and low investment risk due to the amount of base revenue and traction that is recurring. To protect annual recurring revenue (ARR), there are key metrics that management should be measuring.
Fractional CFO work isn’t just beneficial for companies. For finance professionals with an entrepreneurial spirit, fractional CFO roles can be a path to greater flexibility, accelerated career development, and a way to broaden and diversify their experience.
Whether you are raising Angel/Seed capital, VC funding, or perhaps completing a sale of your entire business, due diligence is one of the final steps to get your deal closed. It’s critical for any company to be prepared and organized before due diligence begins to preserve your agreed-upon valuation and position yourself to negotiate more favorable deal terms. Worst case, lack of preparation could result in the deal falling apart.
You may have heard of financial modeling. You may even know it can be a helpful tool to grow your business. But what does this actually mean? In what ways is a financial model helpful? What are the tangible benefits a financial model can provide? Let’s take a CPG (Consumer Packaged Goods) startup, for example. Here are four ways a CPG startup can benefit from a good financial model. Even if your company isn’t in the CPG industry, the benefits can still apply to you. Read on!
