Challenge: Evaluating Accounting Software & Needs Assessment
This medium-sized client had budgeted approximately $10,000 for a new accounting system. They called on CFO for Hire in a consulting capacity, to make recommendations in identifying new software and strategies for implementation. The client’s goal was to mirror at least the same options as they had currently, while achieving better reporting, job costing, and time tracking. At the time of the consultation, the organization was processing minimal accounting transactions.
CFO for Hire began the consultation process by conducting in depth interviews with the company’s main principals, learning more about the existing processes and the organization’s goals. As a result of the thorough interviews, CFO for Hire determined that the company needed no more than a $1,000 upgrade to their existing accounting software, and a time tracking package that could be integrated with the upgraded version.
The client saved considerable funds by utilizing CFO for Hire’s accounting software expertise. Additionally, during the course of investigating accounts, personnel and time records, fraudulent behavior was discovered. CFO for Hire’s personnel handled all daily accounting functions after the employee was dismissed, assisted in the interviewing and selection of a replacement, and trained the new hire upon job entry.