Outsourced Strategic Finance and Tactical Accounting Solutions for Your Business
Outsourced CFO (Chief Financial Officer)
Executive-level financial leadership for your team. Outsourced CFOs are an affordable option for small to mid-sized companies. We offer full-time, fractional, interim or project based strategic advisory matched to your business needs. CFOs provide operational and strategic planning, financial modeling, dashboards, key performance indicators (KPIs), multi-entity and multi-currency situations, consult on raising capital, and more.
Controllers are your solution for accounting leadership or when you have simply outgrown bookkeeping services. Our controllers will dive into your reporting, budgeting, analysis of financial data, cash forecasting, finance system implementation and integration, as well as chart of accounts restructure and optimization.
Daily financial transactions have you in the weeds? Our bookkeepers are versed in multiple accounting software platforms, so it’s a smooth transition no matter what system your company uses. We tackle updating and correcting your books from both the prior and current year.
We have forensic accountants specialized in supporting your company through anticipated or current financial disputes or litigation. Our forensic accounting will assist with the data collection, preparation, analysis, and reporting involved with calculating the financial damages your business may have incurred.
Due Diligence Preparation for Companies
If you are considering selling your business, we can help prepare you for due diligence. Due diligence is when a potential buyer conducts a financial inspection of your business before a purchase. Having guidance, de-risking, and a data room in advance reduces the stress and work that often comes with a sale, and ensures that you maximize the value of your company.
Due Diligence for Investors
We are your partner in evaluating your next potential investment. Reduce your risk by letting us verify the historic and current financial performance of the company that you are considering for your next venture. We will dig up need-to-know information from the balance sheet as well as generate informative financial models and projections.
M&A (Mergers and Acquisitions) Advisory
Whether you are on the buying or the selling side, our M&A specialists have the experience to advise you through each stage of the merger or acquisition process. We discover prospective target companies and buyers ready for the next stage of growth. We build the appropriate M&A strategy, offer readiness and support, perform due diligence, business valuation, manage post-merger integration and business turnaround.
Financial audits occur periodically to examine a company’s financial systems and statements. Auditors check the accuracy of numbers and internal processes. Our audit preparation services ensure that audits run efficiently. Our specialist will guide your organization prepare and provide the necessary financial statements and documentation. We then coordinate communication and get your auditor the necessary deliverables.
Accounting reconciliation and review is a critical piece of every organization’s financial integrity. We ensure that all accounts are being reconciled properly as well, as that ensure that your company has a reconciliation policy and process in place.
ERP (Enterprise Resource Planning) Implementation
Gain insight and management of all of your core business processes through enterprise resource planning software integration. Our team can centralize all of your data from various functions of the company into one complete system to streamline processes and information across your entire organization. Your inventory and order management, accounting, human resources, customer relationship management systems, and more, are all integrated into a single platform.
Financial Systems Automation
Advances in technology have played a significant role in companies shifting to automated financial systems. Our advisors streamline processes to help your organization save time and money. We implement and integrate platforms such as Quickbooks Online, Bill.com, Expensify, Gusto, eShares, and Salesforce, to name a few. This work provides the automation, central control and reporting to enable intelligent data for business decisions.
C-level Strategic Advisory
We complement your financial strategy with top-tier C-level advisors and consultants. Our experienced chief executive officers (CEOs), chief marketing officers (CMOs), and sales and business development experts are the consultants that your company needs to round out your team. Our strategic advisors work with our outsourced financial professionals so your business gets a comprehensive solution instead of individual consultants and services.
What is Outsourced Finance and Accounting?
Outsourcing means to purchase goods or services from an outside vender, instead of having an internal resource. Outsourced finance and accounting is when companies use external finance and accounting experts, often part-time or project based, to fill a position on their team or work on a specific project.
Finance and accounting outsourcing is a growing trend among most companies, especially early stage, high-growth and middle market companies. It’s a cost-effective method for organizations to improve finance and accounting functions.
Types of Outsourced Financial Services
The following financial services are an overview of FireStone CFOs main offerings. However, our diverse and experienced team uses the appropriate tools and methods to build customized finance and accounting solutions. We expand the value of our services by matching the best fit resource or team member for our clients’ specific needs. FireStone CFO works on a fractional, interim, part-time, or project basis – costing a fraction of the cost of a full-time employee.
- Outsourced CFO (Chief Financial Officer)
- Financial Controller
- Bookkeeping Services
- Forensic Accounting
- Due Diligence Preparation for Businesses
- Due Diligence for Investors
- M&A (Merger & Acquisition) Advisory
- Audit Preparation
- Account Reconciliation
- ERP (Enterprise Resource Planning) Implementation
- Financial Systems Automation
- C-level Strategic Advisory
Who Needs Outsourced Financial Solutions?
In today’s economy many growth stage and emerging companies are now realizing the need for experienced, outsourced finance and accounting resources. With the imminent and widespread application of artificial intelligence and outsourced consultants, accounting is one of the top areas of work that can be outsourced and mostly automated.
Now is the time to outsource finance and accounting functions. Outsourcing, particularly with cloud-based accounting software, improves cash flow, and establishes higher levels of performance, predictability and flexibility.
Outsourced financial services are typically most beneficial to small and medium sized businesses. FireStone CFO works with private, early stage, and VC and PE backed companies.
Benefits of Outsourcing Finance Services
- Finance and accounting outsourcing allows companies the flexibility to hire a finance and accounting expert on a full-time, fractional, interim or project basis depending on budget and needs. This is especially critical for both smaller and growing companies who can’t afford to hire a full-time CFO, controller or accountant.
- Outsourcing finance and accounting functions enables organizations to scale to enterprise needs.
- It eliminates the processes of hiring, training and maintaining in-house finance and accounting staff.
- Outsourced finance and accounting professionals implement advanced technology platforms that introduce automation and real-time visibility into business functions.
- It improves companies cash flow management, profitability and control of assets.
- Outsourced financial advisors give organizations unbiased advice on operations and overall financial situation from the perspective of an expert outside the organization.
- Companies have access to a dedicated financial expert and can focus on core functions.