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

CFO

  • Home
  • News / Blog
  • CFO
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.

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.

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!

Next Level Now’s 2021 Conference Schedule

Next Level Now’s 2021 Conference Schedule

  • May 21, 2021
  • Breaking News

Next Level Now will be attending a variety of conferences this year to network, learn, and take part in the ever-evolving discussions around finance, applied behavior analysis, and information technology. We are excited to see everyone virtually and in person! Check out the conferences we will be attending below:

Finance Conferences

We’re excited to take part in finance conferences this year that will allow us the opportunity to connect with others and learn additional tools that inspire us to continue driving client success.

Sage Partner Summit

We will be there from May 25th to the 27th. The virtual event will provide information and tools to better build businesses. Their program centers itself around the pillars of learning, community, alignment, and inspiration. Plus, the event will take advantage of the virtual space by allowing flexibility in pacing and offering an assortment of tracks hosted in a variety of languages. Let’s schedule a time to meet up! Connect with us here.

Digital CPA Conference

Digital CPA is for practitioners that are curious about technology. It will take place in Nashville, Tennessee from December 5th to the 8th. Their on-site and online conference will explore how firms can stay ahead of the curve. If you will also be attending, let’s plan a Nashville BBQ dinner! Contact us now.

ABA Conferences

Our Accounting team will be attending ABA conferences to further provide insights and solutions that support the complex decisions ABA service organizations face.

SEABA Conference

The Southeastern Association for Behavioral Analysis Conference will be held at The Courtyard Columbia Downtown in Columbia, South Carolina from October 14th to the 16th. SEABA is a regional affiliate of the Association for Behavior Analysis International that promotes scholarly discourse within the field. We are excited to meet all the ABA professionals that serve the Southeast; schedule a meetup with us!

Information Technology Conferences

Our CFOs and accounting team will be taking part in the dynamic dialogue surrounding IT and MSPs to showcase our innovative financial strategies that improve project and company profitability.

IT Nation Secure (Connectwise)

The IT Nation Secure will take place from June 21st to the 23rd in Orlando, Florida and virtually. The cybersecurity training event will teach attendees how to reduce risks and streamline service delivery to offer transformative cybersecurity solutions to their clients. The sessions will cover different aspects of cybersecurity including the human element, security operations, partner-led thought leadership, and more! If you’ll also be there, we’d love to meet up! Contact us now.

MSP EXPO and ITEXPO

Both events will take place at the Miami Beach Convention Center in Miami, FL from June 22nd to the 25th. MSP EXPO will have two conference tracks to assist MSP business owners and technology specialists. ITEXPO will demonstrate solutions and trends to innovate communications and technology tools. Both events will be an incredible network opportunity with 59% of attendees meeting new companies at ITEXPO and over 400 MSP companies present at the MSP EXPO. Contact us to connect with us at the expo!

DattoCon

We will be attending DattoCon21 from October 11th through the 14th in Seattle, WA. The MSP conference plans to exhibit the company’s expansion from data protection appliances, remote monitoring and management, professional services automation, and cloud-managed networking. Are you attending too and want to meet up with us? We’d love to buy you a drink! Let’s plan a date and time.

ASCII Success Summit Orlando

We will be attending the summit at the DoubleTree at SeaWorld in Orlando, Florida from October 27th to the 28th. The ASCII Summits are organized to assist MSPs to develop best practices and network while learning new opportunities. The keynote speaker, Mike Michalowicz, will discuss his latest book “Fix This Next” which divulges strategies businesses can use to grow. Let’s plan a meet-up down in Orlando; contact us now!

Sage Transform

The Sage Transform conference will take place from November 8th to the 12th in Las Vegas, Nevada. The technology conference will feature online and in-person experiences that will showcase Sage solutions and their latest innovations, product roadmaps, and best practices. Let’s plan a dinner in Vegas, contact us to get started!

IT Nation Connect (Connectwise)

The 3-day event will be in Orlando, FL from November 10th to the 12th. IT Nation Connect is designed to aid business owners and leaders to grow their companies while continuing to motivate and empower their teams. Let’s plan a get-together at the show; connect with us here!

We’re thrilled to attend these conferences this year and connect with a variety of businesses and professionals. Contact us to learn more about our conference schedule or how our outsourced CFOs and accountants can help your business succeed today!

Our Team of CFOs are Not Mean

  • October 20, 2016
  • Uncategorized

I just returned from a networking event. After going around the room with introductions, the woman to my right says, “Oh you poor thing, you work with a group of CFOs? They are soooo mean!” I laughed it off and explained our team of CFOs are really not mean! In fact, they are some of the nicest people I know…below is one of our latest client testimonials:

“I have had the pleasure of working with Brandi Bonds from Hands With Thumbs Up for Next Level Now's Temp CFO TeamNext Level Now for a year. Brandi’s financial expertise, dedication and leadership skills have made a remarkable impact on our business. She has helped to take us to the next steps in our growth process. I’m fortunate to have Brandi as a mentor. I would recommend Brandi and Next Level Now for their wealth of financial knowledge and resources.”

– Melissa Walker, Business Manager, Neoscope

 

  • Home
  • News / Blog
  • CFO

© 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