6 confessions of a Services company CFO

Posted by Guest Blogger

A CFO's job is supposed to be tough. But when you're a CFO of a Professional Services company, it's a lot tougher. Here's why -- and what you can do to lower your stress level.

6 problems that keep CFOs awake at night...

1. Revenue leakage caused by not billing 100 percent of project time and expenses
2. Managing complex billing terms and cycles impacts cash flow --and not in a good way
3. Poor visibility into current and projected cash inflows and outflows
4. Manually deferring and recognizing revenue creates costly productivity bottlenecks
5. Poor project performance and visibility leads to poor forecasting and lower profitability
6. Operational inefficiencies caused by information silos

...and their solutions

1. Automate time and expense tracking (via the cloud)
2. Accelerate billing cycles with flexible, automated billing processes
3. Balance uneven cash inflows and outflows with real-time cash flow visibility
4. Decouple billing and revenue recognition, streamline revenue deferral/recognition and eliminate a major productivity bottleneck
5. Link project and financial management information
6. Get rid of information silos with real-time, end-to-end visibility

If you're like most Services CFOs, the confessions may sound familiar to you. But the more you know about how the right software can solve these issues, the lower your stress level will be.
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Access the full article here.
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Learn about Intacct, the best accounting software for Professional Services companies here.