fractional CFO, accounting and business consulting in US

Финикс, США
Последний визит: 21 дн. назад
На ОптЛист: с августа 2013

West to East Business Solutions (WEBS) has a team of experienced professionals with extensive backgrounds as CFOs and controllers in various industries and both private and public sectors. You’ll gain access to our collective financial and accounting expertise, with a dedicated point of contact person who will diligently analyze your financial data on a regular basis.
Fractional CFO Services
● Partner with CEO, C-Suite leadership, and Board of Directors to provide oversight and strategic direction on growth strategies, profit improvement, fund-raising and other company-wide initiatives.

● Assume overall ownership and responsibility for the accuracy and timeliness of all financial reporting.

● Provide direction, mentoring and supervision to a company’s core Accounting, Financial Reporting and Financial, Planning & Analysis (FP&A) teams.

● Lead and coordinate all financial budgeting and cash forecasting activities.

● Liaise with external stakeholders including shareholders, bankers, auditors, attorneys, potential investors, customers, and vendors.

● Lead all Board of Directors communication, presentation and reporting around financial results and other financial and strategic related activities.

Outsourced Accounting
● Coordinate with tax CPAs on tax filing.

● Analyze current accounting systems for proper fit based on current and future needs.

● Coordinate with senior and junior staff to ensure tasks are completed in a prompt manner.

● Assist with audit coordination.

● Provide oversight of mergers and acquisition.

● Assist with Due Diligence process.

● Manage accounts payable and accounts receivable.

● Perform all bookkeeping tasks.

● Provide payroll services.

Human Resources
● Identify hiring needs, job analysis, and descriptions to coordinate a successful interview.

● Compensation and benefits

● Performance management — set expectations and goals, provide feedback and training and establish improvement plans when needed.

● Employee onboarding and offboarding include orientation, completion of necessary documentation and exit interviews.

● Maintain a positive environment

● Health and safety

● HR information systems and record-keeping

● Contributing to organizational strategic planning

We are your strategic partner who provides customized accounting solutions where you need them most while giving you leading-edge accounting. You will have an entire accounting department for a fraction of the cost of a full-time accountant.
Industry Experts we work with:
- Construction
- Engineering
- Solar Companies
- Computer
- General Business
- Private Networks
- Health care / Medical
- Computer Software
- Lawyers
- Computer / IT Services
- Professional Services
- Nonprofit
- Contracting
- Energy / Utilities
- Insurance
- eCommerce
- Legal
- Accounting & Finance.

Our Team
At West to East Business Solutions, we don't just provide you with a team of skilled professionals. We go the extra mile by fostering strong partnerships with industry leaders, such as ADP, banks, and tax accountants, to ensure your business reaches its fullest potential.
Our Office:
2375 E. Camelback Rd.
Suite 600 #153
Phoenix, AZ 85016
Nadia Conn
Founder/President/CEO

Nadia Conn is the CEO and Founder at West to East Business Solutions. She has over 35 years of executive management and CFO experience, with an incredible gift for financial data analysis, forecasting, budgeting, data presentation, business analysis, and sophisticated financial projects. Nadia has a unique and diverse career history in various executive roles, including VP of Operations and CFO in banking, engineering, and environmental planning. She is remarkably hardworking and genuinely enjoys helping other businesses thrive!

Nadia became the owner and President of a design and construction business at the young age of 26. She sold her company before immigrating from the former Soviet Union to the United States at the age of 32. Now an American Citizen, she brings an exclusive perspective to her clients with a global viewpoint.

Nadia has a Bachelor of Science and a Master's in Economics from Tajikistan University. She is also a Summa Cum Laude graduate from Western International University with a degree in Accounting. When not working, she and her husband enjoy cooking and spending time with their family and friends. They have two daughters and three granddaughters.
Chief Executive Officer (CFO)

The Chief Executive Officer (CFO) is a high-level executive, ranking third behind the CEO and the Chief Operating Officer (COO). The CFO works closely with the CEO to bring the company's vision to reality through achievable financial goals and strategies.

A fractional CFO offers similar high-level services as a traditional CFO, including financial reporting and analysis, cash flow management, financial modeling, capital planning, and providing guidance to executives on financial strategy. However, unlike a full-time traditional CFO, a fractional CFO is not an employee of the company, but instead works on a contractual or consulting basis, typically for a set number of hours or days per week or month.

What does a Fractional CFO do?

"An experienced fractional CFO steers your company in the right direction, mitigates risk, ensures all partners are on the same page, simplifies and streamlines processes, reduces expenses, oversees the accounting department, ensures tax compliance, and provides an overall report card of your financial health on a monthly basis." Nadia Conn, CEO of West to East Business Solutions. 


Services provided by Fractional CFOs

A Fractional CFO offers a comprehensive suite of financial services tailored to the specific needs of a company. A fractional CFO oversees and manages the financial operations of the company, including but not limited to financial planning and analysis, budgeting and forecasting, cash flow management, risk management, strategic planning, and investor relations. They work closely with the company's leadership team to develop and implement financial strategies that support the company's growth objectives and long-term success.

Financial Planning and Analysis (FP&A): Fractional CFOs conduct in-depth financial analysis using performance metrics, providing insights into the company's financial health. This financial information is invaluable for planning and decision-making. Using specific Key Performance Indicators (KPIs), CFOs assist in developing strategic financial plans, identifying growth opportunities, and optimizing resource allocation, all based on financial data. 

Budgeting and Forecasting: One critical responsibility of a fractional CFO is creating and managing budgets and forecasts. They work closely with the management team to establish realistic budgets, monitor actual performance against projections, and make necessary adjustments to ensure financial goals are met.

Cash Flow Management: Effective cash flow management is crucial for a company's success. Fractional CFOs implement strategies to optimize cash flow, ensuring sufficient liquidity to meet operational needs, manage debt, and capitalize on growth opportunities. They analyze cash flow patterns, identify potential bottlenecks, and recommend solutions to improve cash flow efficiency.

Risk Management: Fractional CFOs play a vital role in identifying, assessing, and mitigating potential risks that could impact the company's financial stability. They develop and implement risk management frameworks, establish internal controls, and ensure compliance with relevant regulations and industry standards. In addition, they ensure businesses have proper insurance coverage, and they act as a liaison between the company and shareholders, bankers, auditors, attorneys, customers, and vendors. 

Strategic Planning: With their deep understanding of financial metrics and industry trends, fractional CFOs contribute to the development of strategic plans. They provide valuable insights into the financial implications of various strategic initiatives, helping the company make informed decisions and align its resources with long-term goals, including mergers and acquisitions, exit strategies, and funding.

Investor Relations: For companies seeking external funding or engaging with investors, fractional CFOs act as liaisons between the company and potential investors. They prepare financial reports, pitch decks, and other materials required for investor presentations, ensuring transparency and effective communication of the company's financial position and growth potential.

Benefits of having a Fractional CFO

Hiring a fractional CFO can provide numerous benefits for businesses, particularly those that may not require a full-time chief financial officer or are in a growth phase. Here are some key advantages:

Cost Savings Compared to a Full-Time CFO: One of the primary benefits of hiring a fractional CFO is the cost savings compared to employing a full-time CFO. Fractional CFOs work on a part-time or project basis, allowing businesses to access high-level financial expertise without the overhead costs associated with a full-time executive-level position. 

Access to Experienced Financial Expertise: Fractional CFOs bring extensive experience and expertise in financial management, strategic planning, and operational optimization. They have typically worked with multiple companies across various industries, providing them with a diverse set of skills and best practices. This wealth of knowledge can be invaluable for businesses seeking to improve their financial processes, implement effective controls, and make informed strategic decisions.

Objectivity and Fresh Perspective: As an outsider to the organization, a fractional CFO can provide an objective and unbiased perspective on financial matters. They are not bound by internal politics or long-standing practices, allowing them to identify inefficiencies, challenge assumptions, and propose innovative solutions. This fresh perspective can be instrumental in driving positive change and fostering a culture of continuous improvement within the organization.

Scalability: Fractional CFOs offer a scalable solution for businesses with fluctuating financial needs. As the company grows or faces new challenges, the fractional CFO's involvement can be adjusted accordingly. This flexibility allows businesses to access the necessary financial expertise without committing to a full-time resource, ensuring they only pay for the services they require at any given time.

By leveraging the benefits of a fractional CFO, businesses can effectively manage their financial operations, gain valuable insights, and position themselves for long-term success without the significant overhead costs associated with a full-time CFO. This strategic approach can be particularly advantageous for companies in growth stages or those seeking to optimize their financial performance.
Outsourced Controller

A Controller is a senior-level executive who oversees an organization's accounting and financial operations. They work closely with the Chief Financial Officer (CFO) and other executive leaders to provide financial analysis, budgeting support, and strategic guidance.

The Controller's primary role is to manage the accounting department, maintain financial records, and prepare financial statements and reports. They play a critical role in ensuring the accuracy, integrity, and compliance of financial reporting and accounting practices.

What does a Controller do?
Controllers serve as an organization's financial gatekeepers, maintaining a comprehensive understanding of the company's financial position, cash flow, and profitability. They analyze financial data, identify trends and potential risks, and provide insights and recommendations to support informed decision-making by senior management and stakeholders. 

Overall, the Controller's role in strategic planning and analysis is pivotal. They translate complex financial data into actionable insights, enabling the organization to make informed decisions, mitigate risks, and capitalize on opportunities for sustainable growth and success.


Services provided by Controllers

Compliance is a critical aspect of a Controller's responsibilities. Controllers must ensure that the organization adheres to relevant laws, regulations, and industry standards, such as those set by regulatory bodies like the Securities and Exchange Commission (SEC) or the Financial Accounting Standards Board (FASB). Let's take a closer look at the specific key responsibilities of a Controller, such as financial reporting, accounting operations, budgeting and forecasting, risk management and internal controls, strategic planning and analysis, leadership and team management, regulatory compliance and audits, and technology management. 

Financial Reporting: One of the primary responsibilities of a Controller is to oversee the preparation of accurate and timely financial statements. This process includes ensuring that all financial transactions are properly recorded, classified, and reported in accordance with generally accepted accounting principles (GAAP) and relevant accounting standards.

Accounting Operations: In addition to overseeing the preparation of financial statements, the Controller is also responsible for reviewing and analyzing financial data to identify potential issues, inconsistencies, or areas of concern. They work closely with the accounting team to investigate and resolve any discrepancies, ensuring that the financial records are accurate and complete.

Budgeting and Forecasting: A Controller develops and manages the organization's budgeting and forecasting processes. They collaborate with various departments and stakeholders to create accurate financial projections, budgets, and forecasts that align with the company's strategic goals and objectives.

Risk Management and Internal Controls: A Controller establishes and maintains an effective system of internal controls to mitigate risks and ensure compliance with relevant laws, regulations, and organizational policies. This process includes conducting regular risk assessments to identify potential threats, vulnerabilities, and areas of exposure across financial, operational, and compliance domains. 

Strategic Planning and Analysis: This responsibility involves conducting in-depth financial analysis, tracking key performance indicators (KPIs), and identifying trends and opportunities. Controllers are responsible for monitoring and reporting on KPIs that are critical to the organization's success. The KPIs may include revenue growth, profitability margins, cash flow, operational efficiency, and customer acquisition and retention metrics. By tracking these indicators and benchmarking them against industry standards and competitors, Controllers can provide valuable insights to the leadership team, enabling data-driven decision-making.

Leadership and Team Management: As a member of the executive team, the Controller leads and manages the accounting and finance staff. They oversee the day-to-day operations of the department, ensuring that processes are efficient and effective and that team members have the necessary resources and support to perform their duties.

Regulatory Compliance and Audits: A Controller is responsible for ensuring regulatory compliance and preparing for audits. They must stay up-to-date with relevant laws, regulations, and industry standards that govern financial reporting, accounting practices, and business operations. This includes adherence to generally accepted accounting principles (GAAP), tax laws, securities regulations, and industry-specific guidelines.

Technology Management: A Controller evaluates and implements accounting systems and technology solutions that streamline financial processes and enhance operational efficiency. They work closely with the IT department to assess the organization's current systems, identify areas for improvement, and drive the adoption of new technologies that align with the company's strategic goals.
Accounting Services

The Accounting department plays a vital role in managing the organization's financial activities, maintaining accurate financial records, ensuring compliance with regulations, and providing financial information for decision-making and external reporting purposes.

West to East Business Solutions handles accounting for small, medium and large business with expertise in both private and publicly traded companies.

Services provides by accounts

Financial Reporting: The Accounting department prepares financial statements, including income statements, balance sheets, cash flow statements, and statements of equity. These reports provide a snapshot of the organization's financial performance and position.

General Ledger Management: The Accounting department maintains the general ledger, which is the central repository for all financial transactions. They record and classify transactions, ensure accuracy and completeness, and reconcile subsidiary ledgers to the general ledger.

Budgeting and Forecasting: accountants assist in the budgeting process by gathering data, analyzing trends, and collaborating with other departments to develop accurate financial forecasts. They monitor budget performance, provide variance analysis, and recommend adjustments as needed.

Accounts Payable: the Accounting department manages the accounts payable process, including reviewing and processing vendor invoices, ensuring timely payment, and maintaining accurate vendor records. They also reconcile vendor statements and address any discrepancies.

Accounts Receivable: accountants oversee the accounts receivable function, ensuring timely and accurate customer invoicing, tracking payments, and following up on outstanding balances. They may also manage collections and credit control processes.

Cash Management: accountants monitor and manage the organization's cash flow. They track cash inflows and outflows, prepare cash flow forecasts, and optimize the use of available cash to meet the organization's financial obligations.

Tax Compliance: the Accounting department ensures compliance with tax laws and regulations. At West to East Business Solutions we calculate and remit taxes owed, and work closely with external tax accountants, auditors and tax authorities during audits or inquiries.

Financial Analysis: Accountants perform financial analysis to assess the organization's financial performance and trends. They interpret financial data, identify areas of improvement or risk, and provide insights and recommendations to management for informed decision-making.

Internal Controls: help establish and maintain internal controls to ensure the accuracy, integrity, and security of financial data. They implement controls to prevent fraud, perform periodic audits, and ensure compliance with accounting principles and regulations.

Fixed Asset Management: The Accounting department is responsible for the recording, tracking, and depreciation of the organization's fixed assets. They ensure accurate and up-to-date asset records and reconcile physical assets to accounting records.

External Audit Support: collaborate with external auditors during the audit process. They provide the necessary financial information, reconcile accounts, address inquiries, and assist in the resolution of any audit findings.

Compliance Reporting: Accountants prepare and file financial reports required by regulatory bodies, such as the Securities and Exchange Commission (SEC) or other industry-specific regulatory agencies. They ensure compliance with reporting standards and deadlines.

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