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Financial Visibility and Control System
The ActionCFO Financial Visibility and Control System

The ActionCFO Financial Visibility and Control System produces the financial information necessary for better decision-making by the CEO and executive team.

The Eight Key Disciplines of the ActionCFO Financial Visibility and Control System

Our system consists of eight key disciplines working simultaneously, but we purposely place them in a particular sequence. The first two disciplines are quick steps that immediately increase financial visibility and control. Disciplines 3-8 each depend on the previous discipline for proper execution.

Discipline 1 Weekly Cash Flow Forecasting Objective:  Eliminate cash flow surprises by looking 3-4 weeks ahead.
Discipline 2 Smart Number Reporting Objective:   Identify metrics based on leading indicators, and report them weekly, if not daily.
Discipline 3 Financial Statement Reporting Objective:  Generate accurate and timely financial statements.
Discipline 4 Financial Analysis Objective:  Review key financial and operational data monthly.
Discipline 5 Narrative Financial Report Objective:  Summarize results and provide context for financial performance and future outlook.
Discipline 6 Financial Advisory Review Meeting Objective: Monthly review of financial reality and strategic actions with the owner or CEO and key financial advisors.
Discipline 7 Financial Projections Objective:  Predict future impact of current operational and financial decisions.
Discipline 8 Bank or Investor Presentations Objective:  Proactively build relationships critical to financial and strategic plans.

For more detail on these eight disciplines, read Before You Hire A CFO.

Why a System?

A system is a repeatable set of processes that consistently delivers an expected result. The initial time investment to set up and learn our system is more than offset by future time saved through better decisions. The system’s value is measured by the intelligence it produces for decision makers. Quality information is far more valuable than thick reports with lots of useless data.

What a Financial Management System is NOT

A financial management system is a set of components. Many small and midsize businesses install accounting software and think they have a financial management system, but they don’t.

Accounting software is necessary for producing financial statements, but these statements provide lagging data and are too infrequent. Today’s decision-makers need much more frequent feedback than monthly financial statements. Though important, they are only one component of a solid financial management system.

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Before You Hire a CFO
Read this book for insights and lessons to help you make the right decisions for your business.