Cash flow issues are a real problem for any business. In fact, it’s one of the main reasons why many small businesses fail. Without a way to bring in more revenue for a struggling business, you’ll be forced to close up shop — sometimes even before your organization has reached its full potential.
What you need are time-tested business strategies to ensure that a steady stream of cash is always flowing into your business. What you need is a CFO.
But if you don’t have one on speed-dial, don’t fret just yet. Here are four ways that our outsourced CFO services in Broomfield, CO can help resolve any cash flow issues that your business is facing.
We have experience in a range of industries, including manufacturing, legal services, property management, IT, and engineering, so we can bring that expertise to your organization’s situation.
We’ll take a look at your business and look for immediate threats to your company’s financial security — ones that must be resolved as soon as possible. This may include upcoming payments for salaries or taxes that you can’t afford or that aren’t accounted for yet in your organization’s financials.
Once these issues have been discovered, we will look for ways to rectify them — and if needed, buy some time for your company as we implement these changes.
If you need cash immediately, for example, and you have several unpaid invoices from your biggest clients, we will come up with strategies and incentives to get them to pay you sooner rather than later.
Once the biggest and most dire issues have been taken care of, we’ll then look for ways to save your company money or run more efficiently. This may include raising your prices to increase your profit margins, cutting costs or getting rid of unnecessary expenses, or refinancing your current debt amount.
When you’re ready, we’ll also work with you to scale your business operations so that you can do so safely and sustainably.
The financial success of any business relies on understanding where your organization’s finances stand at any point in time.
We’ll recommend that you begin making business forecasts on a regular basis (if you aren’t doing so already), so that you can always be financially prepared for any change in your business or its needs. If you prefer that we handle this instead, just let us know as well.
When you’re looking for an experienced accountant offering outsourced CFO services for business owners in Broomfield, CO and beyond, turn to KRD Tax & Consulting. When you work with us, you get all of the benefits mentioned above — at only a fraction of the cost that a full-time CFO would require.
Our firm doesn’t just offer accounting and payroll services, we also offer a whole host of business advisory services for small and medium-sized organizations as well — including cash flow management and strategic business planning. If you’re looking for new ways to change your workflow and software systems so that they run more efficiently, our consulting team is ready and able to streamline your business operations.
If you’re interested in learning more, schedule a call with our team through the contact form on our website. On the other hand, if you have any pressing questions or concerns, call 720-524-4063 to speak with someone directly.