We work with developing and learning companies that have a vision and strategy that they plan to be better and bigger.
years of experience
We are not consultants.
We become a part of our client’s team ...
In collaboration with the client we work on various projects from optimization of the process in financial accounting operations and support in selecting or developing software solutions, delivering accurate and timely financial reports, strategic planning and financial and business consulting, including counseling in selecting competent and quality staff in finance, accounting and controlling.
has a longstanding experience in leading corporate finance, project management, ERP development and general management, and provides its clients with professional and professional approach not only through financial management and accounting but also through optimization of business processes, selection and development of human resources in the segment of financial and accounting activities.
Knowledge and experience in the field of finance, accounting, taxation, data processing, organization and human resources, and the knowledge that optimization and improvement of the process through all these areas together make an important contribution to the stability and business development of each company and have a direct impact on the business result have all formed our vision, strategy and customer access in this regard.
Our role includes intensive cooperation with owners and management, but also with accounting (internal or external services). In cooperation with accounting departments, owners and management, we ensure regular accounting records as well as key business indicators (revenue, expenses, financial results, receivables, liabilities, etc.) so that owners and managers who are not professionals in finance can focus on business development, planning and growth.
Frequently Asked Questions
Accounting deals with the recording and bookkeeping of business events (accounts, bank statements, decisions etc.) and very often with a large amount of work and strictly prescribed deadlines for the calculation of taxes, salaries, handing over of final accounts, various statistics etc. There is no time to communicate regularly with owners and administration. This means that they often do not regularly report on income and expenses, on the status of obligations and receivables, on the optimization of tax liabilities, on changes in legal regulations, on the impact of accounting policies on financial results, etc. Accounting is also defined by planning and strategic decisions for which owners and management need financial and accounting information. It is performed by a financial director and because of all this, he is needed i almost every company and every serious organization.
Very often, small and medium-sized companies do not need a full-time financial director nor such a cost is acceptable. In such cases, CFO Management engages in financial services for a limited time or on a full-time basis (day-two in a week or month). In agreement with the owners / management, the activities of CFO Management (financial management) are organized according to their needs. The contract is signed for a specified or indefinite time (full or part-time) and implies intense collaboration with accounting and management depending on the needs and requirements of the owner.
Small and medium-sized business owners often think in the way that if we have accounting (very often external) we do not need a finance director. And there are examples where this is really so, with some exceptions.
However, very often the accounting records themselves do not guarantee control and quality finance management, business results control, tax optimization, etc.
To the question in the title, I would answer with questions below..
- You do not have a business plan?
- Do you get timely and up-to-date reports on income, expenses and operating results on a monthly, quarterly and annual basis?
- Do you have regular information on the status of receivables and liabilities?
- You do not plan a cash flow?
- Final account and annual financial reporting are done without structured preparation, communication with owners and without presentation of preliminary reports?
- You are not improving business processes and not developing application solutions (ERPs) to optimize data processing and process improvement in general?
If your answer to some or all of the questions is negative, you can be sure that you lack the role of financial manager in finance management and business in general.
This is a very common question and I have to admit that are rare positive examples. One of the common reasons for dissatisfaction is the lack of communication. Very often, company or management owners simply do not have the time for regular contact and conversation with their accounting, and sometimes even vice versa. Accounting in the abundance of obligations, deadlines, forms and new regulations does not have enough time to devote to (all) clients and their business. The only result is that accounting does not have timely information, so there is an up-to-date bookkeeping record, and service users do not have timely and up-to-date reports. Disappointment is two-way. In addition to communication, particular knowledge of accounting records and regulations is needed in order to understand the data in the financial statements and, on that basis, make the correct business decisions. Good communication and understanding of accounting, finance, and taxes help make accounting collaboration more successful and CFO Management in this segment can be of great help.
Prior to the selection (or development) of software solutions for accounting-financial operations and general optimization and integration of all enterprise functions (Enterprise Resource Planning), it is important to give a detailed overview of the business needs, which implies a detailed overview of the existing conditions (organizational structure, data, documentation and processes) and then plan the optimization that the software implementation plans in the future. An important part of the software is the accounting and financial processes (operational part), which is largely defined by accounting, tax, payment systems regulations and so on, and as such is inherent in certain functions and frameworks. At the same time, software is expected to be a functional support to the business and users themselves, and apart from the required elements, it is important to check the specifics of the business, organization, markets and anything else that can affect the software architecture and scope of functionality. This is one of the strategic and tough decisions of each company. The fact is that better software solutions provide much faster and better data and documents processing, and therefore better-quality accounting records and reports. However, there is always a risk that by choosing an inadequate solution, business can be difficult in the end.
If any circumstances change during our cooperation, our services and cooperation in general will be tailored to your changes and needs.
At any time, if there is a need for change in the mode of cooperation, scope and types of services together with you, we will consider all possibilities and adapt to new circumstances.
We know that it is important for every owner and company to manage finance and financial performance and this is the key role of CFO Management.