One Of A Kind… As a Result, below are Some of the Successes
Our unique team-based approach helps our clients in many ways. While one CFO/CTO is assigned to each business, we as a team meet and communicate often to help solve issues and come up with the best solutions collectively. Having a team backing up your organization will help you sleep better.
Analyze the Issues
By actively listening to our clients we learn what the issues are. We learn not only the intricacies of the organization, but what keeps our clients up at night. Listening is part of understanding and leads to the analysis.
Ask Questions, and then Ask More
After our initial meeting we begin to work and ask questions. We ask more questions and become pro-active problem solvers, opening the door to creative and innovative solutions.
Implement Plan of Action
We seek to understand fully in order to implement the best solution. Plans are put into place to help solve the issues that are facing the business, the issues that keep our clients up at night. Through this plan we help our clients grow and reach their next level.
Success Story One
The organization’s CFO was out on medical leave and they needed help immediately.
Next Level Now proposed focusing on getting the balance sheet reconciled in order to estimate the organization’s surplus and assist the fiscal team with the year-end audit preparation and new fiscal year budget. When it became clear that the organization’s former CFO was not coming back, NLN became the acting full-time CFO and implemented many improvements including: weekly team meetings; developed a monthly close checklist, assigned various staff members and trained them how to use the spreadsheets we developed; initiated training on the accounting software for the entire fiscal team; led the team, including the part-time financial consultant, and provided mentoring and training as required; we automated work processes wherever possible by utilizing technology and created financial reports in the accounting system for management and the board of directors.
The financial management team’s morale improved and they started working well together. Next Level Now was commended by the organization’s CPA firm for a very successful audit and for providing timely information for the Form 990 preparation. We got the budget approved by the board of directors and uploaded it into the accounting system in record time. We also attended weekly management meetings, presented financial information at the Fiscal Committee and Board of Director’s meetings, and became part of the Executive Management Team. NLN helped recruit a full-time CFO for the organization to grow and move forward with, continuing their success.
Success Story Two
The company was experiencing tough cash flow issues. Vendors were constantly calling for payment. There was a lack of financial projections and without that, no cash management.
Once Next Level Now’s CFO came aboard, they, along with the company’s management team took over 100% of the cash management. Projections were put into place to determine when to hire more staff and the financials were a tool to better manage the business.
With projections in place and the business better managed, the company has gone from a negative net income to positive large profit. Since Next Level Now’s CFO has been in place, the company has experienced continued growth and their net profit tripled this last year!
Success Story Three
The company’s monthly financials were taking ninety or more days to close out. This made it difficult for timely and accurate business decisions.
Next Level’s Chief Financial Officer was brought in to evaluate the financial processes. Quickly, the CFO identified that the accounting systems were problematic. A new system was implemented which enabled the organization to close faster each month.
Monthly financial closings that used to take 90+ days, now take only 15. With the new accounting system real-time data is accessible at any given moment. Financial modeling is in place to help the organization to be proactive in their decision-making rather than reactive.