FinFactor: Expert Insights for the CFO

In this engaging episode of FinFactor, Blaine Bertsch sits down with Jonathon Angell to unpack the world of innovative strategies for fundraising and financing in business. They explore diverse financing options, the impact of partnerships, and the importance of networking and relationships in securing funding. 

They dive into the intricacies of mergers and acquisitions, the power of storytelling in business, and the nuanced expectations of different investor types. Jonathan highlights the pivotal role CFOs play in navigating complex financial landscapes, emphasizing the value of strong ties with bankers and legal advisors.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on YouTube: https://youtu.be/rSPuU1oKX-M

Listen on your favorite podcast network or at finfactor.buzzsprout.com

Connect with Jonathon Angell: www.linkedin.com/in/jonathonangell1

Learn about Angell Investments at angellinvestments.io

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In this conversation, Blaine Bertsch and Keith Daser discuss the complexities and challenges that mid-market businesses face when integrating technology solutions. They explore the importance of engaging IT consulting professionals at the right time, the significance of communication during technology purchases, and the lessons learned from past mistakes. 

The discussion also highlights the evolving role of specialists and generalists in IT, the critical nature of security in today's landscape, and the need for holistic technology solutions to drive business growth.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on YouTube: https://youtu.be/k3H7oa_85SE

Listen on your favorite podcast network or at finfactor.buzzsprout.com

Connect with Keith Daser at https://www.linkedin.com/in/keithdaser/

Learn about Deliver Digital at https://www.deliverdigital.ca/

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In this conversation, Blaine Bertsch interviews Apoorv Dwivedi of fixer.com about marketing strategies for CPA firms. Apoorv specializes in marketing for small and mid-sized accounting firms and helps them improve their lead-generation efforts. They discuss the importance of focusing on a specific target audience and service offering, building reputation and authority, and implementing a consistent marketing plan. 

They also highlight the need for ongoing monitoring and execution of marketing strategies. The conversation provides valuable insights for CPA firms looking to improve their marketing and grow their business.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on YouTube: https://youtu.be/3g7W8VxRu90

Listen on your favourite podcast network or at finfactor.buzzsprout.com

Website: https://fixyr.com

Marketing Strategy Assessment: https://fixyr.com/benchmark-your-marketing

My LinkedIn profile: https://www.linkedin.com/in/apoorvdwivedi1 

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In this conversation, Blaine Bertsch and Jennifer Warawa discuss innovative financing solutions for small businesses, particularly focusing on payment options available to clients of accounting firms. They explore the differences in market approaches between Australia and the US, the role of CPAs as trusted advisors, and the underwriting process involved in offering payment plans. The discussion highlights the benefits of these financing solutions for professional services and how they can help businesses manage cash flow effectively.

They explore the challenges of late payments, the importance of cash flow for businesses, and how innovative financing options can help businesses secure deals by offering flexible payment terms to clients. The discussion highlights the unique approach QuickFee takes compared to traditional factoring and emphasizes the need for businesses to adapt to changing economic conditions.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on YouTube: https://youtu.be/n6jvQtKwpxA

Listen on your favourite podcast network or at finfactor.buzzsprout.com

Connect with Jennifer Warawa at https://www.linkedin.com/in/jenniferwarawa/

Learn about QuickFee at https://quickfee.com

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Wesley Hartman, founder of Automata Practice Development, discusses the implementation of automation in CPA firms. He explains that his company builds custom automation specific to accounting firms, focusing on areas such as client onboarding, tax return processes, and document management. 

Wesley emphasizes that automation can help increase capacity and reallocate time to more value-driven tasks. He suggests that firms of all sizes can benefit from automation, with larger firms being able to throw more resources at the problem and smaller firms implementing automation from the beginning to set up efficient processes. Wesley also highlights the importance of implementing automation during the summer to have existing data to work with and make the transition smoother.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on YouTube: https://youtu.be/W_aOVM-2Ezc

Listen on your favourite podcast network or at finfactor.buzzsprout.com

Connect with Wesley at www.linkedin.com/in/wesley-hartman/

Learn about TruePrep AI at www.trueprep.ai/

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In this episode of FinFactor, Blaine Bertsch interviews Michael Haynes, a business growth expert, about helping CPA firms grow. They discuss the importance of understanding how clients buy accounting services and the need for a go-to-market strategy that aligns with clients' needs. 

Michael emphasizes the value of delivering advice, insights, and recommendations to clients through content creation and strategic collaborations. He also highlights the significance of networking and building relationships with industry associations and other experts. The conversation concludes with a discussion on the effectiveness of micro events in providing value to clients and prospects.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on YouTube: https://youtu.be/4IkdpAOOqVI

Listen on your favourite podcast network or at finfactor.buzzsprout.com

LinkedIn: https://www.linkedin.com/in/michaelhhaynes/

Link to Free Go to Market Playbook for B2B Accounting Firms

https://listeninnovategrow.com/sme-playbook/

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Ed Patton from PattonTrendr discusses the five elements of financial fundamentals that businesses need to understand: cash flow, operating earnings, financial strength, value, and borrowing capacity. He emphasizes the importance of having visibility into these elements to get a holistic view of the business's financial situation.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on YouTube: https://youtu.be/uZPAwVEDhpw

Listen on your favourite podcast network or at finfactor.buzzsprout.com

Connect with Ed: https://www.linkedin.com/in/edpatton/

Learn about Ed at www.pattontrender.com
Email [email protected]

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In this Episode of FinFactor, Blaine Bertsch, CEO of Dryrun interviews Jonathan Lacasse of Lacasse Advisory Services about the world of mergers and acquisitions (M&A). They discuss the challenges and opportunities in the current market, the importance of understanding business valuations, and the need for due diligence in buy-side and sell-side transactions. They also touch on the impact of COVID-19 on businesses and the importance of realistic forecasting and data-driven decision-making. Jonathan emphasizes the value of working with a trusted advisor who can provide insights and help navigate complex deals.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on youtube: https://youtu.be/EWuuGu2cY1s

Listen on your favourite podcast network or at finfactor.buzzsprout.com

Connect with Jonathan: https://www.linkedin.com/in/jonathan-lacasse/

Learn about Lacasse Advisory Services at https://www.lacasseadvisory.ca/

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In this episode of FinFactor, host Blaine Bertsch sits down with FP&A expert Christian Wattig to explore the evolution from basic Financial Planning and Analysis (FP&A) to a strategic role that influences corporate strategy. They dive into the crucial steps businesses must take for this transition, emphasizing the importance of establishing dedicated FP&A teams as companies expand. The conversation highlights the challenges of data overload and the critical role FP&A plays in identifying key metrics. Wattig introduces a maturity model for FP&A development, covering stages from data focus to proactive value creation.

Catch every episode of FinFactor, where we interview CFOs and finance professionals to uncover the best financial management strategies for overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on youtube: https://youtu.be/BziS-rpMYbU

Connect with Christian: linkedin.com/in/christian-wattig/

Learn about PP&A Prep: fpaprep.com/

Listen on your favourite podcast network or at https://finfactor.buzzsprout.com

#CFO #fp&a #business #finance #podcast #finfactor

Summary

In this episode, host Blaine Bertsch interviews Christian Wattig, an FP&A expert, on the transition from basic FP&A to FP&A that impacts corporate strategy. They discuss the steps businesses can take to make this transition, including the importance of dedicated FP&A teams as companies grow. They also explore the challenges of data overload and the role of FP&A in pointing out what metrics matter. Wattig introduces a maturity model for FP&A development, which includes stages such as data focus, story focus, strategy focus, and proactive value creation. They also discuss the importance of people skills and tailoring communication to gain trust and effectively deliver insights to the management team.

Takeaways

- Startups often begin with the founder handling FP&A tasks, but as the company grows, dedicated FP&A teams become necessary for more forward-looking work.

- FP&A teams play a crucial role in pointing out what metrics matter in the midst of data overload.

- The maturity model for FP&A development includes stages such as data focus, story focus, strategy focus, and proactive value creation.

- Building trust and effective communication in FP&A involves extending trust, sharing personal stories, admitting mistakes, and creating an environment where dissent and negative opinions are welcomed.

In this episode of FinFactor, Blaine Bertsch and Gene Hammons discuss selecting and implementing the right ERP system. They cover the crucial roles of training, change management, and internal team engagement for successful implementation. They also touch on managing costs, avoiding implementation fatigue, and the limitations of traditional RFPs. Gene offers insights on cost evaluation, the benefits of automation, and the significance of data quality and project management. Join Blaine and Gene as they take a deep dive into the world of ERPs.

Catch every episode FinFactor where we interview CFOs and finance professionals to uncover the best strategies financial management overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.

Watch on youtube: https://youtu.be/A7qOrpUU_Us

Listen on your favourite podcast network or at https://finfactor.buzzsprout.com

Learn more about Gene and their services at profitfromerp.com

#CFO #fp&a #business #finance #podcast #finfactor

Show Notes:

In this conversation, Blaine Bertsch and Gene Hammons discuss the importance of selecting the right ERP system for a business and the challenges that can arise during implementation. They emphasize the role of the internal team in ensuring a successful ERP implementation and highlight the need for proper training and change management. The conversation also explores the impact of ERP on staffing and cost savings, as well as the importance of industry-specific expertise. Gene shares insights on avoiding implementation fatigue and maintaining focus throughout the process. 

The conversation concludes with a discussion on the limitations of traditional RFPs in ERP selection. In this conversation, Gene Hammons discusses various aspects of implementing an ERP system. He emphasizes the importance of managing cost overruns and scope creep, as well as dealing with RFPs and bid criteria. Gene also highlights the need to evaluate the cost of software and implementation, and the importance of comparing the total cost of ownership. He explains the value of automation and redeploying resources, and the benefits of forecasting and modeling. Gene also discusses the power of automating processes, considering staff engagement and understanding, and the importance of data quality. 

He concludes by emphasizing the role of planning and project management, and the value of engaging an ERP consultant.

Takeaways:

Selecting the right ERP system is crucial for a successful implementation and requires considering the specific needs and requirements of the business.

The internal team plays a critical role in ERP implementation, and proper training and change management are essential for success.

ERP can lead to cost savings and increased efficiency by streamlining processes and eliminating human errors.

Building a network of industry peers and learning from success stories can provide valuable insights and guidance during ERP implementation.

Avoiding unrealistic expectations and understanding the limitations of ERP systems are important for a smooth implementation process.

Traditional RFPs may not be sufficient for selecting the right ERP system, and a more comprehensive approach that includes scripted demos and industry-specific expertise is recommended. Managing cost overruns and scope creep is critical in ERP implementation.

Evaluating the cost of software and implementation, and comparing the total cost of ownership, are important factors in decision-making.

Automation and redeploying resources can lead to increased efficiency and value.

Forecasting and modeling can provide valuable insights for decision-making.

Engaging an ERP consultant can help ensure a successful implementation.