Next Level Now

Strategic Outsourced Accounting + Fractional CFO Advisory

Next Level Now
  • SOAR+ Outsourced Accounting
  • Fractional CFOs
  • Industries
    • ABA Organizations
    • IT and Managed Services
  • About Us
    • Our Team
    • Our Partnerships
    • Testimonials
  • Blog
  • Careers
  • Contact Us

News / Blog

  • Home
  • Blog
Business Budgeting: 4 Steps to Create a Company Financial Plan

Business Budgeting: 4 Steps to Create a Company Financial Plan

  • January 16, 2023
  • CFO Tips

Creating a budget is an important part of running a successful business. However, creating a budget or company financial plan can be difficult. That’s where Next Level Now comes in; our outsourced financial services will help you get your spending in check to optimize business growth. Learn four steps to start budgeting your business.

How to Create an Effective Budget

Here are four tips to help you create an effective budget:

  1. Start With a Purpose. A clear purpose will help you create an effective budget. Begin with an overall goal for your business. Then determine how your budget can help you achieve that goal. For example, you may decide that your goal for this year is to grow your sales by 10%. In order to accomplish that, you will need to spend some money on advertising or marketing. So your first budget line item should account for those expenses.
  2. Do Your Research. Gather as much information as possible before you start drafting your budget. Use the previous year’s sales figures as a starting point. Compare this year’s numbers to last year’s figures to determine any increase or decrease in sales. Find out how much each department contributed to last year’s sales and how much of that contribution is expected to continue this year. This will help you determine which departments will receive the biggest share of the budget. Once you have finished your research, you can draft a first draft of your budget.
  3. Consider Your Employees and Their Needs. An employee spending policy is an essential part of every business’ budget. It outlines the rules for employee spending and helps companies avoid potential legal issues down the road. Make sure you outline clear guidelines for employee spending in your budget. For example, you may want to specify that employees should not use company funds for personal purchases such as new clothes or electronics. You will also need to set a maximum limit on individual spending and provide guidelines on how bonuses and other compensation should be distributed throughout the year.
  4. Be Realistic. Know your numbers and stick to them. In other words, don’t fudge the numbers just to get more money in the budget. A successful budget is based on accurate data, not wishful thinking. If your revenues are less than expected, you may need to revise the budget to reflect your current financial circumstances. On the other hand, if your revenues are higher than expected, you will want to adjust your budget to account for those extra funds.

Determining a Company Financial Plan Is Important For Business Growth

When a company begins to expand it will need to determine what it needs for expansion and what its current capital requirements are. The budget for running a business should include all costs related to daily operations as well as the costs of expanding operations. This includes everything from salaries to utilities to travel costs to office equipment and everything in between. Businesses should prepare annual budgets to make sure they are getting the most from their financial resources while staying within their set budgets.

How to Make Your Business SOAR

Setting a budget and a realistic company financial plan is just an initial step towards business growth. Next Level Now’s SOAR+ will help you gain financial expertise at a fraction of the cost of hiring internally. Our experts handle the financials while allowing you to nurture the other vital areas of your business. This winning formula will boost your company’s profitability and success. Contact us to start today!

Dream Team Week 2022

Dream Team Week 2022

  • November 22, 2022
  • Uncategorized

The dedicated employees of Next Level Now met in Portsmouth, NH from September 12-16th for the company’s annual “Dream Team Week”.  Dream Team Week is a company meet-up for both work and play. The team got together in Portsmouth, NH for 4 days to partake in intensive workshops, expert guest speakers, team dinners and fun outings.  The whole week was all about team building, learning, and honing their skills to better serve the clients.

The event kicked off on Monday with a welcome dinner at Jumpin’ Jays Fish Café, which really got the morale going and laid the groundwork for the week. Each day started with client work, and the afternoons consisted of several different guest speakers and workshops.

Tuesday

After lunch on Tuesday, our team members went through a Fathom training session. Following a quick break, Laura Caton hosted a Predictive Index speaker workshop. The rest of the evening was a free night for our team members to do whatever they pleased.

Wednesday

On Wednesday, Paul Cissel, CEO of Growth Caddie spoke on the State of the IT/MSP Industry. Our team left with a refreshed understanding of how the IT/MSP landscape has changed in recent years.

Wednesday also featured a presentation from one of our valued partners, SLIQ. The fun did not stop there, as we had a CashFlow Model and Projection Model workshops right after lunch. After a brief 2-hour nap, we packed our bags and boarded the shuttle bus and headed to Throwback Brewery for some lawn games, dinner, tour of the brewery and an obligatory tasting. It was a great way to end the day after a jam-packed morning of workshops, speeches, and presentations.

Thursday

After morning client work on Thursday, we held a client relationship/communication workshop which gave our team an opportunity to discuss effective communicative habits and tips for nurturing client relationships.

After lunch, we dove into another beneficial team workshop about client transactions. Once the hard work of the day was over, our team hopped on the shuttles again and ventured into the back channels of Sagamore Creek for a scenic kayak outing during sunset.

Friday

We had another productive morning of Power Query and Time Management workshops on Friday. Later that afternoon, we were graced by “Rusty” Godwin’s presence for a CPA Firm Interface speaker workshop.

Rusty specializes in accountant services for individuals and small businesses.  Established in 1996, Rusty’s years of accounting experience have led him to become highly recognized for his insightful advice and broad range of knowledge on all aspects of tax preparation and accounting. Rusty’s goal is to use his knowledge to help his clients meet their long-term financial goals, ensuring both business and financial success.

Our team took a quick break followed by the final workshop which involved an IMA Framework Assessment.

The weekend concluded with a team farewell dinner at The District to tie a ribbon on another memorable and productive Dream Team Week.

Client Success Story: Security Service Provider

Client Success Story: Security Service Provider

  • August 3, 2022
  • Success Stories

As a small Managed Security Services Provider, 1440 Security could not afford a full-time CFO or controller. Their CEO was performing many of those functions, while an office manager/bookkeeper was handling Accounts Receivable and Payable with QuickBooks. Once they learned about Next Level Now’s outsourced CFO services, they felt it was necessary to integrate us into their functioning business practices to help take the weight off their shoulders. Discover their process and how the transition was a success.

Addressing Financial Pain Points

First, our team at Next Level Now had to figure out how to eliminate the 8-10 hours 1440’s CEO was spending per month on deferred revenue adjustments. These problems stemmed from a manual process they had implemented to overcome the fact that QuickBooks doesn’t handle deferred revenue. So, 1440 utilized our Fractional CFO services to address this issue, along with quarterly financial analysis of the business.

Our team quickly solved the first issue by moving them from Quickbooks to Sage Intacct. This cloud financial management system not only gave 1440 the ability to handle deferred revenue, but it also provided much more insight into their financials. By switching, they offset the expense by fully outsourcing their Accounts Receivable and Payable to the Next Level Now team. They were able to keep their cost flat and significantly improve how they managed the company financials, invoicing, and bill payment.

Integrating Our SOAR+ Services

1440 was also looking for reliable monthly and quarterly financials, with the ability to effectively handle deferred revenue. Next Level Now provided them with that exact solution. “I think any growing small business can benefit from what Next Level Now provides,” said 1440’s CEO. “I didn’t fully jump in at first, but started with the quarterly financial reporting and the fractional CFO services. Once it was clear that Next Level Now was more than capable to meet what we needed, I moved ahead with their SOAR+ services.”

So what are the benefits of working with us? “I didn’t have to deal with the complexity of being CFO, Controller, and manager for our bookkeeper,” 1440’s CEO explained. “It gave me a lot more time to focus on the business without worrying about the financials being accurate. After looking at other services that leveraged QuickBooks and various software add-ons, Next Level Now was clearly more suitable to our business and had gained my trust. This is what made Next Level Now stand out over other services I researched, and introducing their services was simple. We had a few onboarding and scoping discussions with Next Level Now; COA’s were set up and we migrated balances at the end of a quarter and started with detail from the start of the next quarter. The process was painless!”

Results of Integrating Our SOAR+ Services

“I can confidently say that Next Level Now eliminated the issues we were having with deferred revenue. Our financial reporting was significantly improved, and I was able to use my newly-realized free time to drive the business. When it came time to sell the company, I was extremely impressed with Next Level Now’s level of expertise and support. Plus, they even referred the excellent legal team we used for the sale. Each of them, in their own way, made the transaction a success. I am forever grateful for their contributions.”

By the end, 1440 worked with us for four years. Plus, they would’ve continued if they weren’t acquired. They ended our partnership and overall business relationship on an incredibly successful high note with our efforts in the sale of the company.

Next Level Now is the difference maker when there is an issue to work through. This is when our incredible transparency, high degree of integrity, and collaboration are essential in addressing any issues. Please contact us to learn about integrating Next Level Now with your business.

What to Look for in an Outsourced Accounting Relationship

What to Look for in an Outsourced Accounting Relationship

  • May 6, 2022
  • Executive Series

Handing over your company’s financial books and records to a firm can sometimes be intimidating. You’ll want to make sure the outsourced accounting firm is trustworthy and dependable. Plus, there are other qualities that you’ll want to identify beforehand. To help you get the most out of your outsourced accounting relationship, we’ve put together some tips and tricks that we’ve learned over the years.

Set Clear Expectations

Identify your company’s top priorities before you take the plunge that can ensure you’re partnering with a financial provider that will meet and exceed your requirements. To do so, you will need to be clear and upfront about your expectations. When you are building this relationship, make your priorities clear. Discuss your company’s business strategy, roadmap, and what role you would like the accounting team to support those goals. Also, describe your company’s top priorities and what needs improvement. Don’t be scared to share details of your business’s financial health. The more background and accurate information you provide, the better they understand how to help.

Communication is Key for Outsourced Accounting

To be successful with an outsourcing accounting firm, you will need to build a strong line of communication and be sure to check in on a regular basis. Clear and direct communication is essential for any strong business relationship. Make sure to schedule routine conversations for you to stay up-to-date on all operations. Don’t hesitate to reach out any time you have any questions or concerns. Furthermore, make sure the outsourced provider is providing clear check-ins and lines of communication for you to utilize.

Protecting Sensitive Information

Another key aspect of a strong accounting relationship is security and dependability. During your vetting process, try to identify if they are reliable and how they will protect your information. Before you hire an outsourced accounting firm, check their references to help see if they meet your standards. You’ll also want to investigate their network security and data monitoring to ensure that they can keep your company’s financial data secure.

Outsourced Accounting Data

Accurate, reliable data will enable you to properly make decisions regarding your organization’s future plans. Outsourced accounting firms should be able to provide and explain the information you need to make informed decisions. This data is crucial so you can understand how your company is doing and make projections. This will also help you identify opportunities for improvement to further your business and meet your goals.

Next Level Now: Your Trusted Partner

Next Level Now is a trusted partner that will go above and beyond for your company. We serve as a reliable resource for business owners to lean on in times of uncertainty. We will outline a road map for your upcoming year and work with you to hit your company’s target goals. Let us provide a personalized business plan that supports your management team.

Choose Next Level Now for all your outsourced accounting needs and let us help your business SOAR. Our knowledgeable, experienced team can help your business grow and improve profitability. We would be happy to answer your questions and help you with your needs. Contact us today to see how Next Level Now can help get you on track to financial success.

How to Improve Your IT MSP Business Model

How to Improve Your IT MSP Business Model

  • November 30, 2021
  • CFO TipsGoal Setting

Joe Peppard, Principal Research Scientist for MIT’s Sloan School of Management published this article in the Wall Street Journal. In the article, he argues that businesses should consider getting rid of their IT department. While IT helps companies stand out from their competitors, he says that companies should integrate the functions of IT with front-line operations so they can innovate more effectively for their customers. While you may agree or disagree with his argument after reading the article, you should consider this a potential wake-up call to improve your IT MSP business model. Learn how you should adapt your IT managed service provider business.

Consider How Your IT MSP Business Measures Success

Are you looking to the future? Do you think next year will be a repeat of last year? Think again. To improve your business, we recommend challenging your IT MSP’s service offerings. IT professionals, whether internal or external in an IT MSP business, need to be rethinking their purpose. Is your IT MSP business model simply focused on break fixes while running on an island in support of “the business” as Peppard postures in the article? Do you measure your IT MSP’s success in:

  • Uptime?
  • Minutes in the queue?
  • Ticket resolution?

If so, you should reconsider why your IT managed service provider business exists. As an MSP, you should provide more value than the standard, out-of-the-box services of previous years. You should help clients fully-integrate their IT department with the other areas of their business. Furthermore, one of your primary focuses should be client satisfaction as opposed to the numeric “success” metrics listed above.

Evolve Your IT Managed Service Provider Business Model

For example, our own hardware needs have become minimal at Next Level Now. In today’s day and age, everything has been moved to the cloud. Essentially, computers are no different than office furniture. So, business owners expect laptops, printers, docking stations, security, etc. to be set-up and working immediately as a new hire starts. And it should remain that way, period. Furthermore, end-of-life replacements are now plug-and-play and software upgrades and patches are constantly in the background and not intrusive. The COVID-19 pandemic, and the coinciding push to remote work, has only accelerated these facts. Your IT MSP business model should reflect these new realities.

Align Your IT MSP Business Model with What Matters Most

Software training for new hires or software implementations, such as SharePoint, now take precedence over hardware. The real work gets done at the software level in every department. Does your IT Managed Service Provider business model reflect that? Is your workforce helping employees in individual departments apply and use the next technology or software? These are questions you must consider to be relevant today as an IT MSP business.

There is also an important humanity aspect that many IT MSPs are missing. Shift your strategy from simply focusing on keeping a clients’ systems up and running. Instead, focus on serving the role of a trusted advisor for your clients in both times of need and times of success. As a business owner, there is incredible value in having a strategic partner who has a deep understanding of how to optimize your business systems and technologies. Look to the future, maximize their software and optimize their systems and network for what’s ahead, instead of simply being reactive and fixing problems as they arise.

Contact Us: Let’s Discuss!

At Next Level Now, we urge you to challenge the status quo. The IT MSP landscape is changing, so your company must adapt with those changes to best serve your customers. Evolve your IT managed service provider business model to align with the priorities of businesses today. Visit our Contact Us page and let us know what you think. We would love to hear your thoughts and comments.

Outsourcing vs. In-House Accounting Services

Outsourcing vs. In-House Accounting Services

  • October 29, 2021
  • CFO TipsFeatured

Every business, at one time or another, experiences either tremendous growth or tremendous uncertainty. During these moments, it’s important that they rely on a trustworthy CFO for success. Learn why breaking away from traditional in-house bookkeeping and accounting services can be the key that unlocks your business’ full potential. 

Outsourcing Accounting Services Are the Future

In-house accounting is a traditional form of business bookkeeping. However, times have changed, and it is rapidly being replaced by outsourced accounting or CFO services. There are several advantages that outsourced CFOs and accounting teams provide. Compared to in-house services, businesses can realize the following benefits to outsourcing:

  • Increased cost savings
  • High-level expertise that may not be available when hiring internally
  • Scalability
  • Reliability
  • Convenience

Gain Dependability and Convenience by Outsourcing 

We understand that trying to fill an in-house opening can be taxing and expensive. Sometimes the candidates aren’t as credible as they first appear, and that can take a heavy toll on a company’s bottom line. Or, in some cases, there is time and effort placed in training new hires only to lose them later to a competitor. Through outsourced accountant and bookkeeping services, it is on them to meet your required needs, not the other way around.

Additionally, companies like Next Leve Now thoroughly vet CFOs and accountants to ensure that our clients are fully taken care of. They are not only up-to-date on the most current training and certifications, but arrive with a wealth of resources and established credibility with bankers and financial partners. Moreover, companies that use outsourcing services also benefit from convenience and flexibility. The hours and services can be tailored to suit every company’s unique needs. 

Save Costs with Outsourced CFO and Accountant Services

When comparing the cost between in-house and outsourced CFO and Accountant services, there are a lot of things to consider. Foremost, in-house CFOs typically receive a median annual salary of $393,377 with additional benefits, such as health insurance and 401k. Their paid time off and sick leave must also be calculated, along with any other additional benefits. These benefits include life insurance, vision, and dental insurance, and more.

Many small businesses may be in dire need of these financial services but can’t afford a full-time CFO. Conversely, businesses that acquire an outsourced accounting or CFO service can pay only for what they need. And they don’t have to worry about the overhead that comes with payroll expenses, employee benefits, and additional resources.

Contact Us Regarding Outsourced Accounting Services

Are you struggling to get your company on the right track to success? Are you finding it difficult to juggle your important financial responsibilities while fulfilling your sales and visionary duties as a business owner? Contact us to get the help you need! Our experienced, dedicated team of financial experts can offer the assistance you need.

Financial Technology that Can Help Your Company Succeed

Financial Technology that Can Help Your Company Succeed

  • October 20, 2021
  • CFO Tips

Accounting technology has transformed the profession entirely. Now, complex audits and financial processes are more accurate and efficient than ever before thanks to automations and innovations. Discover the key financial technologies that we recommend and how they can help your company succeed and enhance your accounting plans. 

Gain Insights with Sage Intacct

Sage Intacct is a cloud financial management system that provides shared computer processing resources and data to computers and devices in the network on demand. Its main advantage is that it automates important processes while also providing insights into real-time business performance. These insights include comprehensive reporting and analysis that boost team productivity and drive results. It also provides automated procure-to-pay that greatly reduces errors and processing costs. 

Enhance Accounting Plans with Acumatica

Acumatica is a Cloud ERP solution that promotes growth within companies through their robust data and cross-team workflow. The platform promotes transparent collaboration and is fortified with AI-powered automation. The system is user-friendly and companies who integrate the tool benefit from its streamlined software and interface. Also, Acumatica is bolstered by its security and privacy through role-based permissions and access control mechanisms around all site perimeters.

QuickBooks

Companies can further their success through software like QuickBooks that tracks income, expenses, and more. Besides its organizational capabilities, it also offers insights to drive better business decisions. Users have access to balance sheets, cash flow statements, profit and loss statements, and other customizable financial reports. They will also be able to manage: 

  • Job costing
  • Expenses
  • Invoicing
  • Tax deductions
  • Receipt capture
  • Cash flow
  • Sales and sales tax
  • Project profitability
  • Analytics and insights
  • Batch invoices and expenses
  • And more!

Drive Success with Gusto

Gusto is a platform that offers tools beyond payroll and accounting. It provides assistance with employee benefits, HR, time tracking, and more. Gusto’s payroll tool calculates and files taxes to the right government agencies every time you run payroll. It also enhances compliance by time tracking, auto-calculating, and reducing forgotten signatures on important documents such as I-9s and W-2s.

Contact Us to Enhance Your Accounting Plans

We are proud to offer guidance on the aforementioned software platforms, and also have experience with BillPay.com, Proliant, Expensify, and more! Our outsourced CFOs and accountants can help your business succeed today. Contact us to get started.

4 Important Tips for Managing a Business

4 Important Tips for Managing a Business

  • September 16, 2021
  • CFO TipsExecutive Series

A little while back, we were working with a client that had to close its doors. It sucked for us, it sucked for management, it sucked for the employees, and it sucked for the board and the investors. As we collectively and individually went through the various stages of grief associated with the death of this company and what it meant to each of us, we considered our own individual roles in the closure and thought about what we could have done differently when managing this business.

This one was like the little train that could—until it couldn’t. A facility design flaw proved too much to overcome without major changes to the floorplan. A lot of people gave a lot to try to make it work, but in the end, it was not enough. Some lost money, some lost jobs, others lost dreams. It might seem odd that we are sharing this story as, obviously, failure is never the goal when building a new venture or taking an existing one in a different direction. Of course, we anticipate a certain number of defeats and setbacks along the journey—and we should.

How to Avoid Failure When Managing a Business

In an ongoing entity, good management—financial management a subset—is about making sure you can make mistakes if they are not catastrophic. In a startup environment, however, you may not have as much room for errors because they usually don’t have the inertia and resources that up-and-running companies do. Startups can be set up to allow failure if that one failure doesn’t jeopardize the supporting organizations or individuals. However, we forget that sometimes failure might be the result of all our efforts which, in turn, makes it is easy to ignore the warning signs or not perform the necessary reality checks.

When these catastrophic failures happen, we must learn and grow from them. But, perhaps more importantly, we also must be realists in assessing where we are at any given time. That means not believing our own press clippings, having a healthy level of paranoia about what is around the corner, digging into the numbers and listening when they have a contrary story to tell. Over the years we have seen just about anything and everything across companies we have worked with. While we, too, are always learning, our decades of experience have given us some insight into how to avoid this fate. Review the four tips below for managing a business.

Business Strategy: Know Where You are Going

Work with your management team to identify where the company is headed. So often we get caught up in doing the same things over and over—and trying to get better at them—that we don’t pick our head up to look at how our business landscape has changed or how our company should be changing. As leaders we need to challenge each other about why we are in business, what we can be great at, what we don’t want to do and what needs to change. From that, we can develop a clear set of goals.

Business Tactics: Have a Plan When Managing a Business

Have a dynamic, often-referenced business plan. Not one that sits on a shelf and collects dust. A one page business plan to create clarity around your goals. Have a set of projections with monthly balance sheet, income statements and cash flow that identify the resources needed and support those goals. Make your mistakes in a spreadsheet before you commit dollars and hours to unsustainable plans. Then every month, every quarter update them to reflect your new reality.

Business Execution: Carrying Your Plan Through

Back when I used to do a lot of scuba diving, the saying was “plan your dive, dive your plan”. Have KPI’s (key performance indicators) in place that measure your progress against your plans—just a handful at the top level. They are called “key” for a reason. Think along the lines of, “if I don’t do X, then my business will fail”. Measure your key indicators every week. Don’t wait until the end of the month. You need time to react if things are not going as you expected. If you execute on them, you will execute on the plan.

Business Evaluation: Adjust When Needed

The value of going through the above exercises is understanding the drivers, revenues, costs, and cash flows of your business. Every day we get one day smarter. When things are not aligned with your plan, dig into the numbers and identify why you are not getting the results you expect. Then, change what you need to get back on course. Believe the numbers even when they are not telling you what you want to hear. If your systems are good, your numbers are right, so trust them. Having the discipline to follow these four tips for managing a business will significantly increase your chances of success.

Moral of the Story for Managing a Business

Pay attention; don’t just go through the motions of management. Good leadership and management are hard work (or anyone could do it). We were entrusted with people’s lives and hard-earned money. We owe it to them to actively drive for success and look for the signs of success or failure and react when we recognize them. Fail, as long as it is not catastrophic. Fail again and again. Learn. Don’t let it hold you back from your next project, endeavor, or opportunity. As far as the company that we mentioned at the beginning, there is a chance that this company will be resurrected again under different ownership, or the assets sold to take on a new life. It’s the circle of entrepreneurial life.

Contact Us to Learn More Business Tips

Are you struggling to get your business on the right track to success? Are you finding it difficult to juggle the important financial responsibilities of your business, while fulfilling your sales and visionary duties as a business owner? Contact us to get the help you need. Our experienced, dedicated team of financial experts can offer the assistance needed to help your business thrive.

Five Metrics that Predict Success for Professional Service Organizations

Five Metrics that Predict Success for Professional Service Organizations

  • August 16, 2021
  • CFO TipsFeatured

Professional Service Organizations (PSOs) often face a distinct array of challenges to foster success and growth. And predictability is key in ensuring that you meet stakeholder’s expectations to support the goals of your organization. Learn how to create a profitable and predictable business through our top five metrics for success below:

Forecast Revenue

In order to appropriately forecast revenue and boost your Professional Service Organization’s success, you need to have a solid understanding of seasonality and trends. By understanding your revenue types, you can plan and allocate for each service in a manageable way. To do this, you will need to complete the following:

  • Form a commitment with your organization top-down to build accurate forecasting
  • Forecast at several levels: project, portfolio, resource, and risk
  • Become predictable by preparing your organization appropriately for what’s to come and create repeatable patterns

Moreover, to begin forecasting you will need to properly assess employee bandwidth, and ensure frequent communication within your company. You should also establish clear goals and learn from your experiences to improve precision. Also, you should also prioritize your focus to encourage negotiations among stakeholders and remove potential obstacles.

Analyze Your Budgets vs. Actuals 

Additionally, you will also want to review your budgeting process and how those numbers compare to actual spending. By crafting metrics, you can forecast accurately to improve this ratio. This is key to make your organization predictable and to ensure projects are aligned to strategic goals. Furthermore, you should also ensure that you have the right people in the right place. By understanding your budget and actuals, you can also improve company capacity and have effective KPIs in place to be on track.

Succeed with Capacity Planning 

Ask yourself if you have the resources to meet current demands in your organization and if you can realistically take on more work. Capacity planning enables you to know what you can take on. And it offers you the flexibility to communicate the impact of taking on additional work outside of your scope. Through capacity planning, you are factoring in realistic expectations and actual working hours to appropriately value proposition your employees.

Utilization and Outcomes

Although some organizations are moving away from utilization and looking towards outcomes, it is important to consider if your resources are maximizing their billable time. And if high-value resources are attributed to high-value work. You should account for the following:

  • Appropriate resource assignments
  • High-level or enterprise-wide planning to maximize utilization
  • Differentiated billable and nonbillable hours

Professional Service Organizations and Project Management

Project management is integral for delivering client projects on time and on budget while maintaining your company’s profit margins. Organizations that undervalue project management have reported an average of 50% or more of their projects failing. On the other hand, high-performing organizations that prioritize project management successfully complete 89% of their projects. Making sure to prioritize project management is a key factor in its success.

By manage capacity, forecasting, and establishing efficient project management, your company can become more predictable and attain the backbone to succeed. For a more comprehensive discussion regarding the five-performance metrics, view our most recent webinar below, or contact us for a free business assessment!

 

Outsourced CFO Services: A Case Study

Outsourced CFO Services: A Case Study

  • August 13, 2021
  • CFO TipsFeatured

A client’s controller had resigned from their already understaffed accounting department. They were in urgent need of help and reached out to us for assistance. Learn how our outsourced CFO services helped them recover and thrive.

Key Points:

Problem: The client was in immediate need of finance and accounting services that could adapt to meet their growing and rigorous business demands.

Solution: We were able to provide them with a highly qualified CFO that was perfectly suited for their industry who offered a diverse range of skills and expertise that successfully:

  • Established strategic planning and enhanced scalability by building a reliable accounting team
  • Developed documentation and streamlined operations and procedures
  • Increased efficiency through meaningful KPIs
  • Empowered leaders with a wealth of resources and solutions

The company’s CEO found that: “Everything about the accounting department has been increasingly efficient since we started our partnership with Next Level Now. I attribute that to finally having a true leader in the department that was able to provide solutions and build an effective team.”

Outsourced CFO Services that Match Your Needs

Our client is in the Outdoor Sporting Goods industry and they design and manufacture products for camping, mountaineering, and campfire enjoyment. They needed an outsourced CFO that could immediately provide the necessary skill sets to streamline operations and develop their internal team. To accomplish this, we brought in our highly-skilled CFO with over 20 years of experience as a Finance and Operational Executive. To get a true sense of the business’ needs and procedures, he worked closely with them to develop applicable solutions

Through his proficiency in financial modeling and forecasting, he provided the client with accurate data so they could make informed decisions. He was also able to streamline accounts payable and receivable, payroll, budgeting, and more. The company’s CEO described our services as, “the perfect tool for transitioning, ramping up, and exploring what the true needs of the business are. And Next Level Now was able to do so with incredible speed, flexibility, and acumen.”

Building a Lasting Partnership

Most of our clients are looking for a long-term partnership, and this client was no exception. As a result, we continue to provide them with steady guidance and a wealth of resources to fuel their success. Their CEO stated, “Next Level Now is a perfect partner for us, and we have developed a trust with them to continue to utilize their services for years to come and refer them to others.” In fact, after the success they gained working with our CFO, we were also able to provide them with bookkeeping assistance. We strive to help our clients become self-sufficient while also supporting them when needed.

CFO Services to Take Your Business to the Next Level

Next Level Now provides outsourced finance, bookkeeping, and accounting services. Our services allow you to focus on the areas of your business that you are good at, while we handle the financials. Contact us to learn more about our outsourced CFOs and accountants so, we can help your business succeed today!

Posts navigation

1 2 … 15
  • Home
  • Blog

© 2023 Next Level Now

  • Facebook
  • Twitter
  • LinkedIn
  • SOAR+ Outsourced Accounting
  • Fractional CFOs
  • Industries
  • About Us
  • Blog
  • Careers
  • Contact Us
  • SOAR+ Outsourced Accounting
  • Fractional CFOs
  • Industries
    • ABA Organizations
    • IT and Managed Services
  • About Us
    • Our Team
    • Our Partnerships
    • Testimonials
  • Blog
  • Careers
  • Contact Us