Results from CFO Strategic Partners’ budget survey Planning for 2023 is underway. With a potential recession looming and the cost of living increasing at a rate we’ve not experienced since the early 1980s, the uncertainty is making preparing and budgeting for the next year more complicated. CFO Strategic Partners recently conducted a survey to hear business leaders’ thoughts going into 2023. The survey uncovered a lack of confidence in the economy, with a majority of participants believing we’ll be in a recession next year. Although people are feeling relatively positive about their organizati ..read more

Results from CFO Strategic Partners’ 2022 mid-year business update survey After the Covid-19 pandemic turned our world upside down two years ago, people and organizations are finally beginning to return to their routines and move on. However, things have certainly changed since pre-pandemic times. From the Great Resignation creating a mass employee shortage to wide-scale supply chain issues limiting production in a variety of industries to quickly increasing inflation, business leaders aren’t completely out of the woods. And now there’s talk of an economic downturn. CFO Strategic Partners rece ..read more

Florida Trend awards company for superior work culture CFO Strategic Partners, known for providing unmatched, outsourced chief financial services to small- and medium-sized businesses and nonprofit entities, was recognized as one of the best companies to work for in Florida by Florida Trend. The Best Companies to Work for in Florida is an awards program that honors employers that are making their workplaces great. A partnership between Florida Trend and Workforce Research Group, eligible companies complete a thorough two-part survey to gather data from employers as well as the experiences and ..read more

Achieving successful sale of the business during a pandemic When a Software as a Service company with a focus in the hospitality industry became a client of CFO Strategic Partners, our first step was to determine the owners’ business goals and create a plan customized to their needs. The client always intended to sell the business, so when a good offer unexpectedly came in, they decided the time to exit was right. We set the company up for success in the market place by transitioning it from an all-cash basis to accrual accounting to determine the accurate value. During the negotiations, a com ..read more

As we turn the page to a new year, it can be easy to sweep issues from the previous year under the rug and focus on the fresh start. However, if there were troubles in your organization last year, chances are they’ll carry over into 2022 if not addressed head on. Were your end-of-year finances not where you wanted them to be? What are you doing about it? We’ve just entered the third year of the pandemic and the challenges it has caused are far from being resolved. Struggles to attract and retain qualified employees and supply-chain issues are just the tip of the iceberg. Now is the time to tak ..read more

Challenges are expected to continue As 2022 quickly approaches, there are still many challenges and uncertainty organizations continue to face. In the past year, we’ve seen the rise of the “Great Resignation” lead to an employee shortage. Supply chain challenges have continued and now the pandemic assistance for organizations has expired. With preparation for 2022 underway, CFO Strategic Partners has been hearing whispers of uncertainty. Recently, we released a survey to gauge organizations level of confidence in 2022 and how today’s current challenges will affect them in the new year. With tw ..read more

Securing new talent that propels the organizations forward When several clients experienced unexpected turnover on the CFO level, each of them reached out to CFO Strategic Partners for guidance. Our team of professional CFOs met with the organizations’ key personnel and stakeholders to quickly prioritize their needs and gain awareness of all critical tasks and deadlines. We ensured the accounting and finance team was communicated with throughout the transition. Our team served as the temporary CFO for the organizations and led the search for a qualified, full-time CFO. Along the way, we educat ..read more

All across the U.S. organizations are facing two large shortage crises – Labor and inventory. The COVID-19 pandemic brought many changes to the workforce, one of the largest being the Great Resignation. This is an ongoing trend of employees voluntarily leaving their jobs in search of more money, flexibility and satisfaction. Employers are struggling to find, attract and retain qualified talent. However, staffing isn’t the only sourcing issue organizations are managing. Since the onset of the pandemic, many materials have become more difficult to secure, causing inventory problems. Recently, CF ..read more

It has come to our attention a number of businesses are being approached by firms with proposals to conduct the research needed to file employee retention credit. We would like to alert you that these companies often expect a significant percentage of your return and require payment upfront, before the returns are issued. Worse yet, we’ve seen examples of these companies making inaccurate estimates, which could leave your business at a large loss. CFO Strategic Partners was recently consulted by a client about a pitch they had received from one of these firms. In this particular case, a repres ..read more

On the outside, it appeared that one of Orlando’s growing fast-casual restaurants was nothing but success. The chain was expanding quickly and gaining passionate fans, and the owners were making their dreams a reality. Internally, however, it was a different story. Financial reporting was inconsistent and unreliable, and without that data, it was impossible to see whether rapid-fire growth could be supported. Worse, uncertainty with tax and regulatory bodies left the company vulnerable. Ownership turned to CFO Strategic Partners as their outsourced CFO to help right the ship and gain a strateg ..read more