In the following podcast interview, Michael Lynch, a Principal with SC&H Group, discusses the firm’s new CFO Advisory Services practice, which provides outsourced financial services and technical accounting expertise to startups and fast-growth companies.
Technology, biotechnology, and life sciences entrepreneurs – imagine these scenarios:
- You’re preparing to pitch investors for your first round of funding, but don’t have proper visibility into your rolling 12-month forecast.
- You’ve secured a game-changing client, but aren’t sure how you can handle the next large contract.
- You want to invest in R&D, but aren’t sure when you will run out of cash.
Are these scenarios a nightmare or your current reality?
For most startups and fast-growth companies, fiscal responsibility often falls directly into the hands of company founders. Entrepreneurs juggle multiple priorities, and bandwidth is often limited to effectively and efficiently manage all financial responsibilities.
SC&H Group recently launched its new CFO Advisory Services practice to address these common challenges, and offer entrepreneurial leaders the accounting and finance support necessary to strategically grow and scale.
Whether serving as a Virtual CFO, supplementing staffing needs, or providing specific expertise on a technical accounting matter, SC&H Group specialists work with you to streamline financial management processes, and stay with you to assist in all phases of company growth.
Additional examples of outsourced accounting and financial planning services offered by the new CFO Advisory Services practice include:
- Cash flow management
- Tax structuring and compliance
- Grant compliance
- Fundraising support
- Billing and receivables management
- Policy and procedure development
- Industry benchmarking
- Board and investor reporting
- Data analysis
- Key performance indicator (KPI) reporting
- Growth advisement
Examples of technical accounting insights the new CFO Advisory Services practice can help to address include:
- Business combinations
- Income tax provisions
- Revenue recognition for multiple deliverables and SAAS
- Stock options and equity based compensation
- Complex debt and equity transactions
The new service line utilizes Intacct cloud financial applications as the technology solution of choice to help executive leadership and corporate teams streamline financial management processes, and gain new insights into business strategies. Intacct is the preferred provider of financial applications for the American Institute of Certified Public Accountants (AICPA) Trusted Business Advisor Program.
Much like the recently launched SC&H Group Microsoft Dynamics Consulting and IT Advisory practices, the new CFO Advisory Services practice was established as a result of listening directly to clients’ business challenges – and then addressing these issues with comprehensive solutions.
To learn more about SC&H Group’s new CFO Advisory Services, and how the firm can help enhance your organization’s financial operations, please click here. Or, please contact Mike here if you have any additional questions about this new practice area.
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