Fostering Financial Leadership by Offering Part-Time Chief Finance Officer/ Director Services for SMEs and Family Owned Businesses at a Competitive Monthly Retainer
Small business owners and managers struggle with financial management and maintaining the sound financial health of their organizations. Accounting and Finance staff may lack the experience necessary to produce performance reports and analyses that will identify threats to the business as well as opportunities for growth. The business’ shareholders may even be debating on whether to hire a full time Chief Finance Officer (CFO) who can drive performance to the next level but are restricted due to the fact that many SMEs cannot afford or may not need to have a full time CFO.
Our Chief Finance Officer/Director (CFOD) Hub will provide your business with the financial management solutions that will drive value creation and optimization. The role of a CFO is to identify opportunities for growth; develop strategies; negotiate contracts; design systems, processes, and procedures; and manage the financial and accounting functions to ensure financial reports are accurate and meaningful. CFOD Hub services will fill this gap by providing an outsourced solution for start-up and mid-sized companies requiring expertise in planning, development, and cash flow management.
The CFO provides the business with specialized support when they standardize the compliance and control processes as well as automating the processes for business transactions
CFOD Hub services will provide specialized operational value through:
- Review of your accounting and finance policies, processes, and procedures; and developing bespoke Accounting and Finance Policies and Procedures Manuals appropriate for your company.
- Review of your accounting and finance internal controls; and designing a bespoke Internal Controls Framework suitable for your accounting & finance processes and systems.
- Review of your business’ compliance with relevant laws, international best practice, and International Financial Reporting Standards (IFRS).
- Review of your accounting team’s competency and qualifications to identify the skills, knowledge and competencies lacking within the workforce.
- Developing strategies and designing associated processes to manage debtors and creditors.
- Developing strategies and design associated processes to manage suppliers and procurement processes.
- Tax optimization for your business, while adhering to the compliance requirements of tax laws and regulations in Kenya.
Developing policies and procedures for assets management i.e. tracking, monitoring, and disposing your assets in the most effective manner
The CFO offers strategic decision-making support to the CEO and the Board by using historical and current financial data to advice on how to best push the company forward in terms of mitigating risk, increasing efficiency and performance, and finding new opportunities for growth.
CFOD Hub will provide strategic decision-making support through:
- Assessing the capability of your business to generate revenue and optimize expenditure.
- Review of opportunities and risks captured in your strategy/business plan, as well as the alignment of your strategic objectives, to identify areas of improvement.
- Developing a business-wide risk management framework, for the identification, assessment, and response to risks that your business faces.
- Assisting shape your business deals to your advantage, whether you are buying or exiting a business.
- Exploring suitable financing mechanisms to enable your business to attract capital and to enhance the sustainability of your business.
Investigative analysis of the financial performance and prospects of your business or of a business (target) that you wish to acquire or merge with.