fractional CFO, accounting and business consulting in US
Финикс, США
Последний визит: 1 мес. назад
На ОптЛист: с августа 2013
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.
Bookkeeping Services Bookkeeping Accurate and timely bookkeeping is essential for all businesses. Bookkeepers handle tasks like accounts payable, accounts receivable, income and expense reporting, bank reconciliations, and maintaining the general ledger. They ensure transactions are recorded properly, and financial records are complete and up-to-date. Bookkeeping services provided by staff accountants Recording Financial Transactions: The bookkeeping department records daily financial transactions, including sales, purchases, receipts, and payments, in the organization's accounting system. This involves categorizing transactions and posting them to the appropriate accounts, such as accounts receivable, accounts payable, and general ledger accounts. Managing Accounts Receivable: The bookkeeping department is responsible for managing the accounts receivable process, including issuing invoices, tracking customer payments, following up on outstanding balances, and reconciling discrepancies. Managing Accounts Payable: The bookkeeping department handles the accounts payable process, which involves reviewing and processing vendor invoices, ensuring timely payment, and reconciling vendor statements. Bank Reconciliation: Bookkeepers perform bank reconciliations to ensure that the organization's financial records accurately reflect the bank statement. This process includes comparing transactions in the accounting system to bank statements, identifying discrepancies, and investigating any outstanding items. Financial Reporting: The department prepares and generates various financial reports, such as income statements, balance sheets, cash flow statements, and financial ratios. The financial reports provide leaders with insights into the organization's financial health and facilitate decision-making. Payroll Processing: Staff accountants process payroll, ensuring accurate and timely payment to employees. This process includes calculating salaries, deducting taxes and other withholdings, processing payroll taxes, and issuing pay stubs. Tax Preparation and Compliance: They assist with tax preparation by gathering and organizing financial data required for tax filings. More importantly, they ensure compliance with tax laws and regulations, including timely submission of tax payments and reporting. Financial Record Maintenance: Bookkeepers maintain financial records and documentation to ensure they are properly organized and easily accessible for audits, reviews, and other financial analysis purposes. They may also implement record retention policies to comply with legal requirements. Internal Controls: The staff helps establish and maintain internal controls to safeguard the organization's assets, prevent fraud, and ensure accurate financial reporting. This includes implementing segregation of duties, reconciling accounts, and conducting periodic internal audits. Software and Systems Management: They also make the decisions regarding which accounting software (such as QuickBooks or Xero) to implement. They may also assist with the setup, configuration, and maintenance of accounting systems and software. Collaboration with Other Departments: Staff accountants collaborate with other departments, such as the finance department, to provide financial information, resolve discrepancies, and support budgeting and financial analysis processes. Continuous Improvement: Bookkeepers stay updated on industry trends, regulations, and advancements in bookkeeping practices. They continuously enhance their skills and knowledge to improve efficiency and accuracy in their work.
Payroll Management Payroll Payroll is simply the payment that an employer gives to its employees for their services during a specific timeframe. This compensation includes wages, salaries, bonuses, and benefits provided to the employees. The process of payroll management is handling the accounting department, ensuring that the employees are paid accurately and in accordance with legal regulations. How can outsourcing payroll management serve your business? Accurate and Timely Payroll Processing: Having a structured payroll system ensures your employees get paid accurately and on time. We help maintain employee satisfaction and motivation, which can contribute to higher productivity and employee retention. Compliance with Employment Laws and Regulations: Payroll involves various employment laws and regulations, such as accurate tax withholding, overtime calculations, and timely submission of payroll taxes. Following the rules and regulations dramatically reduces, if not altogether eliminates, the risk of penalties and legal consequences. Employee Benefits Administration: The payroll management system can integrate with employee benefits administration, making it easier for the team to manage benefits such as healthcare, retirement plans, and vacation accrual. The benefits also include a seamless enrollment process and the assurance of accurate deductions and contributions. Improved Data Security: We know the payroll process contains sensitive information, including employee's social security numbers, bank account details, and salary information. Our payroll system can help protect your data through security measures like encryption, access control, and regular data backups, reducing the risk of data breaches and unauthorized access. West to East Business Solutions uses ADP to provide our clients with top-of-the-line payroll and human resources (HR) solutions. An efficient and accurate payroll system contributes to employee satisfaction, compliance with legal requirements, cost and time saving, accurate financial reporting, streamlined benefits administration, and data security. These benefits can positively impact your business operation, employee motivation, and overall financial management. Contact us now for a free consultation to learn more.
Human Resources The Human Resources (HR) department plays a critical role in managing the organization's employees. The services and responsibilities include recruitment and hiring, onboarding, performance management, compensation and benefits, employee development, ensuring legal compliance, and fostering a positive and productive work environment. What are Human Resources (HR) services and responsibilities? Recruitment and Hiring: HR is responsible for developing recruitment strategies, sourcing candidates, interviewing, and selecting the best candidates to fill job vacancies within the organization. Onboarding: HR facilitates the onboarding process for new hires, ensuring a smooth transition into the organization. This includes completing necessary paperwork, conducting orientation sessions, introducing company policies and procedures, and providing necessary training. Employee Relations: HR acts as a bridge between employees and management, handling employee concerns, grievances, and conflicts. HR ensures a positive work environment and fosters healthy employee relations through effective communication, conflict resolution, and policy enforcement. Performance Management: HR oversees the performance appraisal process and assists in setting performance goals for employees. They may provide guidance and support to managers in providing feedback, coaching, and implementing performance improvement plans. Compensation and Benefits: HR manages employee compensation and benefits, including salary administration, bonuses, incentives, and employee benefits programs. They ensure compliance with legal requirements and market standards, and may also conduct salary surveys to ensure competitiveness. Employee Development and Training: HR plans and coordinates employee development and training programs to enhance employee skills, promote career growth, and align development plans with the organization's needs. This may include organizing workshops, seminars, and professional development opportunities. Compliance with Employment Laws: HR ensures compliance with federal, state, and local employment laws, regulations, and industry standards. They stay up to date on changes in labor laws and regulations and provide guidance, policies, and practices that align with legal requirements. HR Policies and Procedures: HR develops and updates HR policies and procedures, including employee handbooks, codes of conduct, and guidelines, ensuring consistency and fairness in their implementation across the organization. Employee Engagement and Retention: HR designs and implements strategies to foster employee engagement, satisfaction, and retention. This may involve organizing employee engagement initiatives, recognition programs, employee surveys, and feedback mechanisms. HR Administration: HR handles administrative tasks such as maintaining employee records, managing employee files, payroll coordination, benefits administration, and ensuring data accuracy and confidentiality. Health and Safety: HR ensures compliance with health and safety regulations, maintains a safe and healthy work environment, and manages workplace safety programs and initiatives. Employee Separation: HR manages the process when employees leave the organization, including conducting exit interviews, ensuring proper documentation, and handling necessary paperwork related to termination or retirement.
Business Solutions 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. WEBS isn't a CPA company (!). List of Outsourced Services: - Fractional CFO, - Controller, - Bookkeeping, - Monthly, quarterly, and annual financial reporting statements - Budgeting, - Forecasting, - Valuation, - Financial statement preparation - Financial reports, - Business Consulting, - Bill paying services, - Sales Taxes, - Business management, - Human Resources, - Payroll, - Accounting assistance 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
Empowering Success, Everywhere! Who We Are West to East Business Solutions' team of professionals has an extensive business background. Most of our staff members have executive roles in large companies and their successful businesses as part of their rich experience. Our reputation is important to us, and it is our pledge to you that your company is in good hands. Our team specializes in fractional CFO and outsourced accounting services, including bookkeeping, payroll, and human resources. We are based in Phoenix, AZ, but most of our work can be done remotely. We have clients nationwide, including United States-based companies in other parts of the world. Our primary goal is to help businesses thrive financially. We accomplish this by taking on your back-office tasks and responsibilities, allowing you to spend more time running your business and, most importantly, making informed, data-driven financial decisions. We spend time learning about your business so we can deliver the right combination of accounting services and administrative support that will give your company a competitive edge in the marketplace. We will draw on our knowledge of accounting, financial, and business strategies to keep your business on track. We also have an external team of professionals who have been vetted and known to provide first-class services, such as bankers, attorneys, and various vendors. We genuinely enjoy working with our clients and look forward to getting to know you and your business. West to East Business Solutions can handle everything from keeping your books, running the human resources department, and presenting you with advanced, comprehensive financial reports to fractional CFO services. We empower success, everywhere! What We Do 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. Accounting is more than just sending invoices out, paying bills, distributing a weekly paycheck, and producing financial statements. If managed correctly, a strong financial infrastructure can help you navigate countless regulations and legal pitfalls. It can reduce overhead, increase profitability, and improve productivity as well as be used as a pivotal, strategic business tool that helps you recruit better employees and motivate them to achieve more while building an invaluable sense of loyalty and trust. Our Values We always work hard to improve our services to achieve higher results for our clients. We love challenging tasks that require an innovative approach. Thus, if your business needs a unique solution, we are ready to fine-tune our existing services to meet all your demands. Our company is a group of devoted professionals who share mutual priorities and values. Only those committed to their work can provide the best quality services. That’s why every person that joins our team undergoes rigorous selection.