This week’s article is by Michael K. Menerey, Partner, CFO Edge, LLC.
For small and mid-sized firms, “as needed” working relationships with their key advisors – like CPAs, attorneys and other professionals – are beneficial in that full-time positions, salaries and overhead for them are not required as they are with large corporations.
A drawback is that it’s not possible to go to one of their offices down the hall with a question or for advice, and their off-site locations can mean that they are not current on important and evolving areas of your business.
Reviewed in this week’s PDF…
…is how providing regular updates to your CPA, attorney and other professional partners on business activity brings more knowledgeable and prompt responses when you call for advice.
This proactive approach to keeping your key advisors in the loop can also generate from them new ideas and value-added guidance before problems arise.
Los Angeles and Southern California executives can realize significant benefits from including a provider of outsourced CFO sources as a key advisor.
An enterprise-grade CFO has a proven track record of collaborating successfully with outside experts and can work with you to determine what information should be shared on what schedule – and then communicate it to your trusted advisors.